November 2010 Trip Update 2

While the team went on safari, I flew to Kenya to spend 2 days checking in on the 3 entrepreneurs who were selected in February 2010 and funded in March/April. All three of the new businesses are doing well. Sandra and Jane are two sisters who started a pharmacy on the east side of Nairobi. Charles started a farming business in his hometown called Eldoret. And Kyengo (pronounced “chango”) started a poultry business in his home village that is about 1 ½ hours from Nairobi.

Sandra and Jane’s pharmacy is doing well in its first 6 months of operations. Their daily sales aren’t as high as projected so we identified 5 tactics they could execute to increase sales. They will begin paying back their loan in January.

Charles’ farming business has faced several weather-related challenges over the past few months but Charles and his team quickly adjusted and replanted some of the crops to get a reasonable yield. They harvested maize and beans that are being stored for a month or two so they can get a higher price when the supply decreases.

Kyengo’s poultry business is doing very well. He is selling the number of chickens he projected at the average price he projected and has a consistent customer base. He is aggressively selling to new customers to find ways to increase his volume. He is ready to begin making loan payments immediately.