strathmore university students in free enterprise 26 th may 2007

STRATHMORE UNIVERSITY

Students In Free Enterprise

26th May 2007

Front View of Strathmore University

About Strathmore University

• Located in Madaraka Estate along Ole Sangale Road

• Founded in 1961 as an O level college

• Established as a University in August 2002

• Student Population – 5,100

About Strathmore University

• Studies: - Faculty of Commerce

- Faculty of Information Technology

- School of Accountancy

- Institute of Humanities &

Development Studies

- Institute of Administration &

Management

- Strathmore Business School

About Strathmore SIFE

• Launched in March 2004

• Population of Strathmore SIFE students:

- 2005 – 26 students

- 2005 – 45 students

- 2006 – 32 students

-2007 - 60 students

• Strathmore University Club of the Year 2005,2006

Strathmore SIFE Projects 2007

1. Mawingu

2. Jiendeleze

3. Faulu

4. Ngumbato “Vedette”

TOTAL HOURS: 1433

PEOPLE IMPACTED: 2579

MAWINGU

A STRONG FOUNDATION TO THE SKY

Mawingu Youth Empowerment Initiative(MYEI).

Project ISSA.Project ISSA.

Initiative for Sports and Social ArtsInitiative for Sports and Social Arts

Brief Introduction

• ISSA- Initiative for Sports and Social Arts

• Membership of 35

• Based in Kibera (Laini Saba)

• Sensitize the youth on social matters such as HIV/AIDS

Preliminary visit

They needed:

1. book keeping skills

2. computer skills

3. organizational skills for organizing their projects

4. Business running skills such as writing business plans and proposal

Proposed ISSA projects

• Information and Technology Centre; however they lacked computers

• Mr. and Miss. Kibera beauty Pageant. Lacked organizing skills.

Proposed ISSA Projects

• Theatre production: some have engaged in an educational play about social vices like corruption and crimes but needed to advertise their plays better

• Art and Craft work: some members have made traditional ornaments like anklets, bangles and traditional sisal skirts

Our objectives

They needed:

1. book keeping skills

2. computer skills

3. organizational skills for organizing their projects

4. Business running skills such as writing business plans and proposal

A MODEL SHOWING A SUIT MADE BY ISSA

Proposed plan

We carried out our objectives in three phases

First phase • Taught organizational skills for the upcoming

Beauty pageant which was a success • Helped to refine business plan proposals which we

submitted to potential partners

Second phase

Business running skills. We taught

• Economies of scale

• Customer relationship

• Offering quality products for sale

Class in progress

Third phase

• We taught book-keeping

• Taught how to prepare and interpret simple income statements and maintaining a cashbook

• We helped ISSA prepare a proposal t PC for Africa and with this PC for Africa donated 25 computers.

Project Partners

• Maji na Ufanisi

• Haco industries

• Umande Trust

• Pamoja Trust

• PC for Africa

• Strathmore University

IMPACT

• The ICT centre is operational – Some of the ISSA are training MS Office packages.

• The Mr. and Mrs. Kibera beauty pageant had 10 participants. It was well attended by about1200 Kibera youth thus achieved its purpose of creating awareness on HIV/AIDS.

KIBERA BEAUTY PAGEANT

IMPACT…

• The theatre is fully operational with members making a profit of Ksh 9500 per month which they plough back into the business

• They have found a potential market for their art & craft work which they generate revenue of Ksh 5500 per month on using easy to find raw materials

Project AnalysisObjective Activity

Achievement (impact)

Eradicate computer illiteracy

Taught a basic packages

All ISSA members have the knowledge

Eradicate unemployment

Organize the ISSA projects

The computer centre set up with help of PC Africa

Project analysis

Objective ActivityAchievement (impact)

Awareness for

HIV/AIDS

Organizing the

Beauty Pageant

The event was

Attended by about

1200 Youth

Marketing skills Advised on pricing

and advertising

Better marketing of Theatre, Art work

Project analysis

Financial skills

Teach them basic accounting skills

They maintain basic financial records

Future plans

• Expand the IT centre

• Open new shops for the Art and Craft

• This years Beauty Pageant

• Expand theatre production

• Establishing a website for ISSA

“JIENDELEZE”

Our Objectives…..

• Instill a vibrant entrepreneurship culture among SIFE members

• Provide practical mentorship & modeling of entrepreneurship

• Inform on the opportunities that lie in entrepreneurship

Project layout….

Practical mentorship through interacting with

Successful Entrepreneurs !!

“Some things are better

experienced than told”

Esther Passaris-MD Adopt-A-Light

The Light in An entrepreneurs hands!!!

Patience Nyaoga-MD Tintoria Executive Dry Cleaners &

Laundry

The resilience of an entrepreneur

Jon Wagner-MD Java Coffee house

“Building A Successful Enterprise”

Dr Catherine Masitsa- Samantha Bridal &Going Out

Magazines

An entrepreneurs best asset…your mind!!!

Smart Investing 2007 conference 3rd Mar 07

Forum for Economic & Entrepreneurship Development“…Nurturing Entrepreneurship & Economic Growth”

STRATHMORE UNIVERSITYSTUDENTS IN FREE ENTERPRISE

Bob Karina- MD Faida Securities Ltd.-The

Entrepreneur’s Mindset..

Kariuki Kariuki-CEO,Arise Africa Investments

Why invest in the stock exchange

Patrick Maina – Advocate, CEO-Legal Research & Advisory

Center

Legal Aspects of Investing:

Polycarp Ngoje-Executive Director-Academy of Savvy

Investors

Qualitative & Quantitative Analysis of stocks

Fred Mweni – MD, Tsavo Securities Ltd

The process of buying and selling Shares

Impact of Jiendeleze

Investments in the Stock Market

Members have invested in the Nairobi Stock Exchange

Strathmore University Library:

For continuous growth of entrepreneurship, We negotiated with The Librarian to have more Business publications in addition to newspapers.

Financial post

Students reading Financial Post

My Business MagazineStrathmore Students reading “My business

Magazine”

Oxford University SAID Business school YBD Competition

(Young Business Development)YBD 2007 competition is an international Business plan competition run by SAID Business School.

Strathmore participated and 3 of them are part of

the 38 Finalists from 17 Countries around the world.

Business plan Competitions

Opportunities aren't passing Strathmore members :

Chora Bizna :www.believe-begin- become.com

BID Network:http://bidnetwork.org

Audience please

Join Strathmore SIFE and ….“Jiendeleze”

Note :

www.believe-begin-become.com

Http://bidnetwork.org

Don’t be late!!!!

Deadline is 31st May 2007!!

Faulu

Introduction

• Faulu is Swahili word which means “To Succeed”

• Target group: KAMSHEG

• Project site: Kambi Muru in Kibera

• Project Members:21

PROJECT OVERVIEW

Several business projects had been initiated which are

1. Simu ya Jamii

2. Waste Management

3. Play station Games

4. Dry Manure

5. Charcoal Selling

6. Salon and Barber Shop

7. CD writing

PROJECT OVERVIEW CONT’D

• No records were being kept.

• The charcoal selling and the salon and barber shop businesses had been shut down

• Simu ya Jamii, play station and waste management were businesses generating some revenue.

• CD piracy was rampant.

Objectives

• Book keeping and accountability for finances

• Business Analysis Techniques

• Impart business ethics.

Activities

Book keeping and accountability for finances

• Recognition of incomes and expenses• Maintaining incomes and expenses

records• Basic budgeting

Activities

Business Analysis and running Techniques:

• Entrepreneurship.• Generating business ideas.• Rules for successful business• Sustaining business ventures.• Innovation in business.

Activities

Impart business ethics:

• Taught on Ethical Business practices.

• Total quality management.

PROJECT IMPACT

Records are maintained for business transactions

Impact

• A new business dealing in scrap metal and plastics has been introduced where they make a profit sh3 per kg

Impact

KAMSHEG realized that the following businesses were not sustainable and dropped them: – CD writing– Dry Manure– Salon & barber shop

…business analysis in practice!

Impact

Business Ethics:

The group stopped commercial reproduction of music and Videos…

Concentrated on the play station business which earn them a a minimum of Sh.3,500 per month

Playstation Project

Kamsheg

A real transformation

Ngumbato

Introduction

• Ngumbato—Coined from Swahili word “Kumbatia”

• Target Group:-Mwiri formed in 2004 with the aim of obtaining finances

• Project location: Ngecha, Limuru

• Economic Activity: Farming and Animal husbandry

PROBLEM IDENTIFICATION

• On our Initial visit , we found out that:

High interest rates for loans they obtained

Product uniformity Poor record keeping

Project objectives

Based on the problems we identify, we settled on the success skills SIFE pillar.

• Financing options

• Value addition to products

• Business analysis techniques

• Teach basic record keeping

Activities

• Alternative Financing options.

• Linked the women to Faulu Kenya

– Offers loans to individuals and groups

– Offers classes on financial management.

Activities• Value addition

• Partnered with Strathmore University Cafeteria to teach the women how to make yoghurt

• Taught the women techniques for proper handling of the milk

Activities

Business Analysis

• We partnered with TechnoServe to teach the women how to pick market trends in the dairy industry.

• Trained the women on effective group activity as opposed to individual efforts.

Activities.

Record Keeping.

• Made the women appreciate the essence of efficient record keeping in business

• Taught the women on basic book keeping:

1. Pesa Account –Cash Book

2. Faida Account- Income Statement.

Impact• The women have enrolled with Faulu Kenya

• The women resulted to selling milk in bulk

• The women stopped commercial production of yoghurt because it was a shrinking market.

• The women maintain basic record for their milk deliveries and cash flow.

Projects Partners

• Faulu Kenya.

• TechnoServe Kenya.

• Strathmore University.

Sustainability

• We are helping the women identify new markets for their milk by August 2007

• We have planned visits to successful dairy farms and milk processing in October 2007 .

• The women will have fully learnt how to prepare individual accounts by Dec 2007

Thank You