[kictanet] Local Funding

[S.M. Muraya]

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.html

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" <jameskmaina at hotmail.com> 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=
> 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-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.
>
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