K-YES Training Prove Game Changer to Young Enterpreneur
WHEN Benard Kabuu attended a K-YES sponsored business training early this year, he only expected to be enlightened on how to manage his business. The first born from a family of four dropped out of school in form three to assume the responsibility of a breadwinner for the family.
Bernard Kabuu in his Coca Cola ‘kiosk’: a training on business management and access to financial capital, enabled him to start his own Village Loaning and Savings Association that is empowering his fellow youth in the outskirts of Nairobi.
He tried his hand in many things before finding his niche as a promising entrepreneur. A beneficiary of the Coca Cola Company initiative supporting youth by facilitating them with means of selling the company’s products; Kabuu yearned to expand his business.
“I was only interested in basic tips on how I could manage the business.” He reveals. ‘Little did I know that I could be empowered with information on how to generate capital for expanding the business.”
The three-day training convened in Nairobi in June 2016 attracted over 30 youth who were trained on bookkeeping, saving business proceeds; client relations, branding and marketing; registration of the businesses as formal entities; and raising capital through Village Saving and Loaning Association (VSLA).
Insights into how VSLA operated inspired him. Lack of access to financial capital had hindered his expansion plans. He aware of securing a bank loan but requirements by most banks seemed unfriendly to many youth at start-up level.
He assembled like-minded youth in his area after the training and shared the idea of forming their own VSLA.
“They were reluctant at first but experiences from members from other VSLAs helped win their commitment.” He notes.
He is currently a proud founder and team leader of 17-member VSLA based in the outskirts of Nairobi and determined to accumulate capital for their businesses. A loan from the group enabled him expand his business – apart from his Coca Cola kiosk, he supplies water to a nearby garage and has also invested in chicken rearing.
Others in the group are succeeding too – according to him; three are have already acquired loans from the VSLA and invested in their start-ups.
Group members contribute at least Ksh. 1000 per week as savings; and to be eligible for a loan, one is only required to attain a certain saving threshold.
Beneficiaries like Kabuu illustrates the Program’s commitment to invest in Kenyan youth who are often branded as failures as a result of having dropped out of school. Achieved results are proof that with necessary empowerment, their energies can be tapped into a profitable use that benefits the community and the country at large.
Currently in its second year since inception, the Program has empowered over 20,000 youth with useful skills bound to enhance their employability; assisted over 10,000 in accessing financial services and helped in creating over 6,000 for youth who have dropped out of school due to circumstances beyond their control.