strathmore university students in free enterprise 26 th may 2007
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STRATHMORE UNIVERSITY Students In Free Enterprise 26 th 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 - PowerPoint PPT PresentationTRANSCRIPT
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STRATHMORE UNIVERSITY
Students In Free Enterprise
26th May 2007
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Front View of Strathmore University
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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
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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
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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
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Strathmore SIFE Projects 2007
1. Mawingu
2. Jiendeleze
3. Faulu
4. Ngumbato “Vedette”
TOTAL HOURS: 1433
PEOPLE IMPACTED: 2579
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MAWINGU
A STRONG FOUNDATION TO THE SKY
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Mawingu Youth Empowerment Initiative(MYEI).
Project ISSA.Project ISSA.
Initiative for Sports and Social ArtsInitiative for Sports and Social Arts
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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
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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
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Proposed ISSA projects
• Information and Technology Centre; however they lacked computers
• Mr. and Miss. Kibera beauty Pageant. Lacked organizing skills.
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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
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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
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A MODEL SHOWING A SUIT MADE BY ISSA
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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
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Second phase
Business running skills. We taught
• Economies of scale
• Customer relationship
• Offering quality products for sale
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Class in progress
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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.
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Project Partners
• Maji na Ufanisi
• Haco industries
• Umande Trust
• Pamoja Trust
• PC for Africa
• Strathmore University
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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.
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KIBERA BEAUTY PAGEANT
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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
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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
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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
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Project analysis
Financial skills
Teach them basic accounting skills
They maintain basic financial records
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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
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“JIENDELEZE”
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Our Objectives…..
• Instill a vibrant entrepreneurship culture among SIFE members
• Provide practical mentorship & modeling of entrepreneurship
• Inform on the opportunities that lie in entrepreneurship
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Project layout….
Practical mentorship through interacting with
Successful Entrepreneurs !!
“Some things are better
experienced than told”
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Esther Passaris-MD Adopt-A-Light
The Light in An entrepreneurs hands!!!
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Patience Nyaoga-MD Tintoria Executive Dry Cleaners &
Laundry
The resilience of an entrepreneur
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Jon Wagner-MD Java Coffee house
“Building A Successful Enterprise”
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Dr Catherine Masitsa- Samantha Bridal &Going Out
Magazines
An entrepreneurs best asset…your mind!!!
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Smart Investing 2007 conference 3rd Mar 07
Forum for Economic & Entrepreneurship Development“…Nurturing Entrepreneurship & Economic Growth”
STRATHMORE UNIVERSITYSTUDENTS IN FREE ENTERPRISE
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Bob Karina- MD Faida Securities Ltd.-The
Entrepreneur’s Mindset..
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Kariuki Kariuki-CEO,Arise Africa Investments
Why invest in the stock exchange
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Patrick Maina – Advocate, CEO-Legal Research & Advisory
Center
Legal Aspects of Investing:
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Polycarp Ngoje-Executive Director-Academy of Savvy
Investors
Qualitative & Quantitative Analysis of stocks
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Fred Mweni – MD, Tsavo Securities Ltd
The process of buying and selling Shares
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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.
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Financial post
Students reading Financial Post
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My Business MagazineStrathmore Students reading “My business
Magazine”
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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.
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Business plan Competitions
Opportunities aren't passing Strathmore members :
Chora Bizna :www.believe-begin- become.com
BID Network:http://bidnetwork.org
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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!!
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Faulu
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Introduction
• Faulu is Swahili word which means “To Succeed”
• Target group: KAMSHEG
• Project site: Kambi Muru in Kibera
• Project Members:21
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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
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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.
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Objectives
• Book keeping and accountability for finances
• Business Analysis Techniques
• Impart business ethics.
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Activities
Book keeping and accountability for finances
• Recognition of incomes and expenses• Maintaining incomes and expenses
records• Basic budgeting
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Activities
Business Analysis and running Techniques:
• Entrepreneurship.• Generating business ideas.• Rules for successful business• Sustaining business ventures.• Innovation in business.
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Activities
Impart business ethics:
• Taught on Ethical Business practices.
• Total quality management.
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PROJECT IMPACT
Records are maintained for business transactions
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Impact
• A new business dealing in scrap metal and plastics has been introduced where they make a profit sh3 per kg
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Impact
KAMSHEG realized that the following businesses were not sustainable and dropped them: – CD writing– Dry Manure– Salon & barber shop
…business analysis in practice!
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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
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Playstation Project
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Kamsheg
A real transformation
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Ngumbato
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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
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PROBLEM IDENTIFICATION
• On our Initial visit , we found out that:
High interest rates for loans they obtained
Product uniformity Poor record keeping
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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
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Activities
• Alternative Financing options.
• Linked the women to Faulu Kenya
– Offers loans to individuals and groups
– Offers classes on financial management.
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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
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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.
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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.
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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.
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Projects Partners
• Faulu Kenya.
• TechnoServe Kenya.
• Strathmore University.
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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
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Thank You