Professor Barrett Hazeltine, our board member recently sponsored an event on the campus.
We invited Dan Leteipa a young Kenyan entrepreneur based in Nairobi to travel to USA as speaker.
He and his wife spoke about the Kenyan youth enterprise environment and the challenges they face.
He identified three of most difficult challenges young entrepreneurs face as:
1) Ability of young entrepreneurs to turn their enterprises into sustainable ones
2) Ability to understand their long-term financial needs and develop plans to secure funding
3) Lack to access to credit facilities at reasonable interest rates
They used their own enterprise as an example – – in the real estate sector – – they specialize in purchasing
land and, adding value such as site planning, provision of water & electricity services, ensuring title is not encumbered, etc.,
They parcel land into residential plots and sell to individuals to build their homes.
As follow up to this event, AFRILINK is recruiting with a Vice-President at Goldman Sacs to become their mentor.
He will mentor them in the areas of enterprise sustainability and strategies for securing long-term finance
We are also working to upgrade our relationship with Brown University through the School of Engineering where entrepreneurship is housed. (I met with the Assist. Dean to explore the next steps.)
W. Ahuma Adodoadji