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Nairobi News : November 25th 2013
22 money briefs +0.75% DSE ALL SHARE Tanzania +0.12% NSE ALL SHARE Nigeria +90.46 NSE-20 SHRINDEX Kenya Hustlers make money from flowers ANNIE NJANJA, NairobiNews firstname.lastname@example.org dominating the European Union market, this sector receives a lot of attention from the government and farmers. Besides contributing to the economy, it has played a big role in providing employment to many Nairobians. The flower business is big business in the city. In almost every corner of the city, you will find flower vendors going about their business. For some, a normal day begins at 5am when they collect flowers for sale and open their shops by 6am. The flowers come from as far as Naivasha, Athi River, Limuru and Thika. The flower business is Kenya’s third largest -0.62% EGX301DX/ D Egypt -0.19% TUNMAIN INDEX Tunisia -0.61% CFG INDEX Morocco Albunus Ndolo at his tent on Koinange Street. Annie Njanja, NairobiNews John Njiru In plain English Speed The estimated rate at which mortgagors pay off their loans ahead of schedule, critical in assessing the value of mortgage pass-through securities. Straddle Also known as spread. This is the difference of the purchase or sale of separate futures or options contracts for the same commodity for delivery in different months. Testate This is to die with a will. It is the antonym of intestate which means a person who dies without leaving a will behind. Usury This is charging more than the maximum legally permitted rate of interest. In Kenya, the perpetrators are commonly known as shylocks. Wallflower These are stocks that have fallen out of favour with investors. They tend to have a low P/E (price-to-earnings ratio). An example is the Eveready. Wasting asset An asset which has a limited life and thus, decreases in value (depreciates) over time. Also applied to consumed assets, such as gas, and termed “depletion.” Noise Price and volume fluctuations that can confuse interpretation of market direction. Hiatus A gap or space left between two parcels of land and not included in the legal description of either parcel. Hazard Insurance Protects against damages caused to property by fire, windstorms, and other common hazards. A customer looks at a movie on sale at a stall on Moi Avenue. Emma Nzioka, NairobiNews NAIROBI NEWS nairobinews.co.ke Monday, Nov 25 - Tuesday, Nov 26, 2013 foreign exchange earner. With the country “We get orders from offices, hotels, families ar- ranging for funerals of their loved ones and people hosting parties and weddings,” said Albunus Ndolo, a flower vendor on Koinange Street. To venture into this business, one needs a starting capital of not less than Sh5,000, first to acquire a Sh3,000 yearlong business licence, a Sh1,000 to buy a day’s flower stock to kick start the business and Sh50 City Council levy. Getting space or a stall for the business depends on the vendor as price varies with location. On a good day, a vendor can make Sh50,000, while on normal days they make about Sh5,000 to Sh10,000. Regular price fluctuations caused by unpredictable weather have strained business. Usually they get a 20-bunch for between Sh50 or Sh80. money PUTTING MORE IN YOUR POCKET Movie selling fast gaining ground among the youth Business. Due to the rising unemployment, city youths have found an alternative to keep themselves busy by starting businesses ANNIE NJANJA, NairobiNews email@example.com unemployment rises. As if to support the recent Consumer Insight survey showing 40 per cent of students prefer self-employment, youths have found it wise to look for alternative sources of income other than formal employment. Instead of idling or engaging in criminal activities, many are now cashing in on Nairobians thirst for entertainment. And it is paying off. Movie vending has become a lucrative T business as Nairobians shun cinema halls by the droves. Why part with Sh1,000 to watch a movie when they can buy one for Sh50 on the streets to watch from the comfort of their homes? “I enjoy catching a movie at the theatres but that happens once in two months. It is quite expensive. Lucrative business Daybreakers experiences heavy traffic. On normal days, from 8am to 7pm, it sells about 500 copies a day. On Mondays, Fridays and Saturdays, they sell 750 copies a day. And with the average price of Sh50 a copy, they earn between Sh25,000 and Sh37,500 on busier days. he number of young people graduating from Nairobi County colleges has been rising by the day even as However, on other days, I buy a movie from the streets to watch from my home,” said Mercy Wanjala, an office assistant in the city. Almost every building in downtown Nai- robi plays host to a couple of movie shops, easing Nairobians access to movies. Going by the shops, it is clear that the business has become a money minting venture for young Nairobians seeking low-capital endeavours. It takes a small amount of capital to buy a computer and install software that can burn movies on DVD. Download movies This is supplemented by internet con- nection and space to carry out the business. However, some investors have gone a step further by renting out shops in prime areas and investing in technologies involved in this business. “We have a Mac Book which we use to download the movies through Torrents application. It also acts as our database since it has a huge storage capacity,” said Wilson Kimeu of Daybreakers Movie shop on Kimathi Street. He said the shop has also invested in three duplicators whose price averages between Sh30,000 and Sh40,000. Business is very good on Fridays and Saturdays where a strategically placed movie shop can sell hundreds of DVDs. “When I leave office in the evening, I am usually tired and if I’m in a mood for movies, I buy them at a convenient place which is usually at a shop on my way to or next to my bus stop,” added Ms Wanjala.
November 22nd 2013
November 27th 2013