[kictanet] Local Funding

[James Maina]

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=hotmail.com at lists.kictanet.or.ke> on behalf of S.M. Muraya via kictanet <kictanet at lists.kictanet.or.ke>
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-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.
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