Mpesa agents can now borrow Kshs. 50,000 to Kshs. 5 million to boost cash float. The Repayment period is 12 months.

KCB Bank will also allow MPESA agents to take loans worth up to 6 times their average commissions earned over a 6-month period.

In order for entrepreneurs to access the loan facility, they will be required to visit any KCB branch countrywide in order to access the loan.

Photo Courtesy of Business Daily

The post KCB Bank Offers Mpesa Agents Attractive Loans appeared first on Fenesi.com.

What do you think about this move by President Kenyatta?

Photo Courtesy of State House Kenya

The post President Uhuru Kenyatta Increases Minimum Wage appeared first on Fenesi.com.

Samsung Galaxy S4 makes every moment of an entrepreneur’s life meaningful and manageable. Don’t take my word for it, check it out in this video in which you will be able to see some features that Samsung Galaxy S4 has in store that will benefit your business.

Video Courtesy of Samsung Galaxy S4

The post Kenya To Welcome Samsung Galaxy S4 appeared first on Fenesi.com.

International Monetary Fund (IMF) forecasted an average growth rate of around five percent for Africa in 2012, both novice and established entrepreneurs are still having a hard time finding sustainable financing.

eVA Fund, with its access to large investors, aims to review 88mph startups for follow-on funding opportunities.

“Bringing outside investors to Africa is crucial for the startup ecosystem,” says Kresten Buch. “With that being said, it’s not enough to just read the headlines and analyst reports about the current climate here. It’s something every serious investor needs to experience on their own.”

As part of the collaboration between the two companies, eVA Fund will bring its key fund investors or limited partners to 88mph’s offices in Cape Town (April 21, 2013) and Nairobi (April 24, 2013) where they’ll be holding mentoring sessions and providing feedback to startups’ pitches.

“These trips are crucial to educate our team and investors about what is happening in Africa and how we can be more strategic about the kinds of companies we invest in,” says Brian Hirman, founder and investment director at the eVA Fund.

88mph’s overarching goal is to bring more investment and attention to Africa. The company has partnered with Google for Entrepreneurs and is also funded by private investors including 4Di Capital, Hannes van Renburg, Fundamo CEO and Ranjith Cherickel, Head of Sales and Business Development, Africa at Nokia Siemens Networks, among others.

The post Venture Capital Firms Join Forces To Fund Africa Web & Mobile Startups appeared first on Fenesi.com.

This partnership is aimed at increasing investment opportunity in Africa.

eVA Fund is a European venture capital firm investing in Sub-Sahara’s African SME’s active in digital media. The Netherlands-based eVA Fund typically invests between $500,000 and $1.5 million in digital technology companies.

Unlike any other partnerships eVA fund has entered into, the one with 88mph is geared towards improving early stage web/mobile startups’ chances for success.

Are you an entrepreneur running a web/mobile start-up? Well you can take advantage of this opportunity to pitch your business ideas to the venture capital firm.

88mph Upcoming Events

• February 1 – May 1: Cape Town currently running
• May 1 – July 15: Applications for Nairobi open
• April 25: Cape Town Demo Day
• August 26: Nairobi program starts

How To Apply For Funding Opportunities

Visit 88mph and follow the instructions on the homepage.

Here Is To Your Success!

The post 88mph Partners With eVentures Africa (eVA) Fund appeared first on Fenesi.com.

Kenya’s computing applications will get a boost when winners of the on-going Nokia and Microsoft’s mobile app development competition are unveiled on May 6th 2013.

The contest is divided into two categories – Apps and Games.

The winning team will walk away with $10,000, a trip to a Nokia Global event, plus an XBOX and Lumia 920 for each team member.

The runner-up team will receive $5,000, an XBOX and a Lumia 920 for each team member.

There will be a People’s Choice category, whereby the winner will receive $3,000 plus an XBOX and a Lumia 920 for each team member.

Source: Kenya ICT Board & Photo Courtesy of gadgetadda.com

The post Nokia and Microsoft To Empower Kenya Techpreneurs appeared first on Fenesi.com.

“Nairobi’s reputation as an African commerce, trade and development hub made it a strategically sound location for afb. We believe it is a natural recognition of Kenya’s role as the financial heart of the East Africa region.” said afb’s Chief Executive Officer Karl Westvig

Apart from being a high growth-market and an important hub, Kenya is part of a region that is experiencing rapid improvements in income levels and infrastructure, has an abundance of well-educated and quality staff and offers a huge promise of continued growth for many organizations as a consumer market.

At the same time, the company unveiled its retail credit card, a ground breaking card for Kenya, focusing on empowering the average Kenyan to improve their lifestyle.

The Card allows customers to spread the cost of their purchase into affordable monthly instalments over a period of six months.

“Our unsecured revolving credit products offer our Kenyan customers a convenient and flexible way to get instant access to the credit they need when they want it. Traditional banks do not cater for the mass market and at afb we make affordable credit available to consumers in a responsible way,” said Westvig.

afb expect to build a Debtors book of between $17m and $20m in the first year of operation, which will be financed through a combination of equity and debt.

Westvig said bringing the benefits of card payments to people of Kenya and by and large, across the African continent is a primary focus for afb, adding that Kenya, and indeed Africa as a whole, had always been heavily reliant on cash – both in the consumer and corporate sectors.

afb has already signed partnership deal with several retail outlets across Nairobi where its cards will be transacted including supermarkets, glassware shops, clothing shops, bookshops, among others.

How To Apply For AFB Card

• one has to be 18 years of age or older
• earn a monthly salary
• have a valid identity document
• have employment details (if self-employed, provide last 3 months bank statements)
• have their income and expense details available

The repayment is made through any of the participating retails outlets or through M-pesa.

Photos Courtesy of afb.com

The post afb Launches Retail Credit Card In Kenya appeared first on Fenesi.com.

The partnership marks a new era for Emirates and Qantas, and for global aviation, as the two carriers collaborate to deliver the best network, lounges, frequent flyer benefits and travel experiences.

“The strength of this partnership stems from the fact the Emirates and Qantas brands are an excellent match. Emirates customers using a Qantas lounge or taking a Qantas flight will experience a level of service that is on par with what they expect from Emirates,” said Tim Clark, President Emirates Airline.

“Our two airlines offer the largest joint fleet of Airbus A380s and passengers will be welcomed through Concourse A, the world’s first, purpose built A380 concourse, at Dubai International Airport, which is the geographical centrepiece of the partnership,” added Mr Clark.

“A major benefit is the range of products we are offering frequent flyers. Customers of either airline can leverage many of their privileges when they fly on the joint network, including earning points, redeeming flights and accessing lounges,” concluded Mr Clark.

Chief Executive Officer of Qantas, Alan Joyce, said the partnership would make long haul travel more seamless – and faster – for millions of Australians.

“From today, our customers from Adelaide, Brisbane, Perth, Melbourne and Sydney have one-stop access to 65 destinations in the Middle East, North Africa, the UK and Europe via the joint Qantas and Emirates network.

“By travelling through Dubai, Qantas customers can connect to the extensive Emirates network into Europe and the UK and fly directly to their destination. Before today, the Qantas network offered five one-stop codeshare destinations into Europe and the UK with our partners. From today, we offer access to 32 destinations in Europe on the combined Qantas and Emirates network,” said Mr Joyce.

“The new network will cut average journey times by more than two hours from Melbourne and Sydney to the top 10 destinations in Europe,” added Mr Joyce.

Combined the two airlines will offer 98 flights a week between Australia and Dubai.

Customers have already responded very strongly to the partnership, with over 212,086 sectors booked so far on the joint network. Qantas has seen a sixfold increase in bookings to Europe on the joint network in the first nine weeks of sales compared to the same period last year.

The number of Emirates customers booked to travel on Qantas’ domestic network is almost seven times higher than under Qantas’ previous partnership arrangement in the same nine week period.

Emirates operates double daily flights (14 weekly flights) out of Nairobi to more than 130 destinations through its Dubai hub. The tie up with Qantas now offers Kenyan travelers additional connectivity into and out of Australia.

The post History In The Making As Emirates Partners With Qantas [Press Release] appeared first on Fenesi.com.

Well, now that the nomination is done. What remains now is for you to cast your vote.

“You don’t have to vote for everyone. Just vote for the categories that tickle your fancy.” – BAKE

How To Cast Your Vote In BAKE Awards!

We have provided you with a simple instruction on how to vote for Fenesi.com;

Step 1: Firstly, Click Here To Vote For Fenesi!

Step 2: Fill in your full names and email address

Step 3: Choose the right ballot box “1. Best Business Blog”

Step 4: Select your candidate “http://fenesi.com”

Step 5: Scroll down and click “Submit My Vote” to cast your vote.

That’s it! We appreciate your vote as we consider our readers’ votes to be our “stronghold”

On A Lighter Note!

In order to avoid rejected votes you are advised to simply vote once. BAKE will not count double votes from the same voter

Voting will close on midnight on the 1st of May 2013. 

The winners will be announced at a gala event to be held on the evening of the 4th of May 2013 at the Southern Sun Hotel in Westlands.

Thank you for being with Fenesi as we continue to empower entrepreneurs to start, run & grow their business!

Here Is To Your Success In 2013 & Beyond!

Photo Courtesy of bloggers.or.ke

The post Fenesi Gets Nominated For Best Business Blog In Kenya appeared first on Fenesi.com.

So, What’s The Procedure!

• You will need to write a notice indicating the company intentions of the increase of the nominal share capital to the company registry.
• Make sure that as you plan to increase share you file the annual returns which you need to request for a Form for filling returns which will cost you Ksh. 400.
• Fill the Notice of increase in nominal share capital (Form No. 204). Thereafter which you will be required to pay for stamp duty.

Legally the law allows a minimum of 1,000 shares with a nominal share capital of Ksh. 100,000 in all Limited Liability Company being registered in Kenya.

This shares can be split accordingly among different directors. Nominal Share Capital can be used by entrepreneurs to attract investments from Venture Capital, Private Equity, Angel Investors and many more.

Here Is To Your Success!

Photo Courtesy of pesatalk.com

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