Dear Listers, With permission from an upcoming software entrepreneur (: born after this "Wise Owl" already had an ID :) "Was talking to some investors my age sometime this year, they had to talk to an investor in England to advise them about investing in a Kenyan solution for a problem he didn't understand as he is based in the UK. They shared the response and apparently they took every word he said as Bible truth." The software entrepreneur also provided me with this link https://medium.com/@sankara_/its-time-to-fix-the-startup-funding-landscape-i... My response: Essentially, we need to deal with corruption in our society, not rely on foreign funding. It does not help, most of our local youth worship foreigners. The nations ranked worst by Transparency International, do not build up and consequently trust their own talent and firms.
How about starting(or linking me to an existing one) a private sector investment group meant to be an angel fund for Kenyans funded by Kenyans? I think Kenyans in diaspora such as myself would be interested in proper investment vehicles with solid returns. Given that a Kenyan would express his idea in Swahili to a fellow Kenyan and win his confidence better than trying to explain to a foreign based German or US investment banker who doesnt have a clue until he becomes an expat locally...it makes sense to self-fund. What Kenyan enterpreneurs need to learn is to network and pitch properly locally/diaspora and Kenya investors need to learn to be angels to fellow Kenyan enterprenuers (as the word was intended to mean). Best Regards James ________________________________ From: kictanet <[email protected]> on behalf of S.M. Muraya via kictanet <[email protected]> Sent: Monday, May 29, 2017 6:23 AM To: James Maina Cc: S.M. Muraya Subject: [kictanet] Local Funding Dear Listers, With permission from an upcoming software entrepreneur (: born after this "Wise Owl" already had an ID :) "Was talking to some investors my age sometime this year, they had to talk to an investor in England to advise them about investing in a Kenyan solution for a problem he didn't understand as he is based in the UK. They shared the response and apparently they took every word he said as Bible truth." The software entrepreneur also provided me with this link https://medium.com/@sankara_/its-time-to-fix-the-startup-funding-landscape-i... My response: Essentially, we need to deal with corruption in our society, not rely on foreign funding. It does not help, most of our local youth worship foreigners. The nations ranked worst by Transparency International, do not build up and consequently trust their own talent and firms.
Hi James, Hope a State (e.g. Capital Markets Authority) official will provide us with an answer to your query. We need information about Sovereign funds with returns from investing in patriotic Kenyan companies (including start ups). 50 years ago, South Korea was where we are but built companies around patriotism and people with strong family values/cultures. Those who pervert justice (e.g. the current Samsung CEO) are penalized for fraud. https://mobile.nytimes.com/2017/02/17/business/south-korea-chaebol-samsung.h... How did chaebol come to power? They rose from the ashes of the Korean War. After the conflict ended, officials steered relief funds and cheap loans to businessmen who promised to rebuild the country. The government also protected homegrown industries from foreign competition to help them develop. The recipe proved to be potent: Chaebol played a major role in South Korea’s rise as an industrial giant in the following decades. On May 29, 2017 2:07 PM, "James Maina" <[email protected]> wrote:
How about starting(or linking me to an existing one) a private sector investment group meant to be an angel fund for Kenyans funded by Kenyans? I think Kenyans in diaspora such as myself would be interested in proper investment vehicles with solid returns.
Given that a Kenyan would express his idea in Swahili to a fellow Kenyan and win his confidence better than trying to explain to a foreign based German or US investment banker who doesnt have a clue until he becomes an expat locally...it makes sense to self-fund.
What Kenyan enterpreneurs need to learn is to network and pitch properly locally/diaspora and Kenya investors need to learn to be angels to fellow Kenyan enterprenuers (as the word was intended to mean).
Best Regards
James
------------------------------ *From:* kictanet <kictanet-bounces+jameskmaina= [email protected]> on behalf of S.M. Muraya via kictanet < [email protected]> *Sent:* Monday, May 29, 2017 6:23 AM *To:* James Maina *Cc:* S.M. Muraya *Subject:* [kictanet] Local Funding
Dear Listers,
With permission from an upcoming software entrepreneur (: born after this "Wise Owl" already had an ID :)
"Was talking to some investors my age sometime this year, they had to talk to an investor in England to advise them about investing in a Kenyan solution for a problem he didn't understand as he is based in the UK. They shared the response and apparently they took every word he said as Bible truth."
The software entrepreneur also provided me with this link
https://medium.com/@sankara_/its-time-to-fix-the-startup-fun ding-landscape-in-kenya-68aba60a45d7
My response:
Essentially, we need to deal with corruption in our society, not rely on foreign funding. It does not help, most of our local youth worship foreigners.
The nations ranked worst by Transparency International, do not build up and consequently trust their own talent and firms.
participants (2)
-
James Maina -
S.M. Muraya