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Nairobi News : December 18th 2013
18 Wednesday, Dec 18 - Thursday, Dec 19, 2013 nairobinews.co.ke moneyspinner Chama of the week TUINUKE’S STAR IS RISING HIGH merry-go-round group with just six members. At the time, none of the members imagined it would grow into what it is two years on — a giant organisation that is empowering members financially. Chairman Benson Kimani said T plans are at an advanced stage to convert it into a bank. “We used to meet every Tuesday and contribute Sh200 each. These contributions would be saved or given to members in form of loans that would earn interest,” said Kimani during a ground breaking ceremony for the group’s newly acquired 10acre farm in Kamulu, Njiru District. When its membership grew to 15, the group acquired the name to Tuinuke Self Help Group and eventually Tuinuke Pamoja Credit Capital Ltd. Currently, the company has 150 members with an investment worth over Sh25 million. It gives loans of between Sh200,000 to Sh300,000 to interested members. The group deals in land and real estate. Already, several banks like Consolidated, Co-op and K-Rep have shown interest in working with the company. Rafiki Deposit Microfinance have loaned it Sh7.5 million while Jamii Bora Bank has pledged Sh10 million once the projects start. “Though our initial intention was to raise funds for our small projects, we can see it moving to another level. It is now a big business attracting the attention of other partners who want to grow financially,” he added. The company assets are insured, its books audited regularly and officials advised on financial management. “We plan to start with the construction of about 20 to 30 houses, a project that will take about four years,” said Kimani. Buyers will be allowed to pay in installments for up to 10 years to enable as many members as possible to acquire modern house. Sammy Kimatu, NN Peter Mwaniki at his Tele Electronics shop on Luthuli Avenue. Sammy Kimatu, NairobiNews. uinuke Pamoja Credit Capital Ltd started in 2011 as a SPOTTING OPPORTUNITY No such thing as second-hand cash Lucrative. Used goods are becoming increasingly popular among city residents and there is a ready market for traders who want to make profit ANNIE NJANJA, NairobiNews @njanjaannie email@example.com goods. People dispose of their I household goods for varied reasons like upgrading their lifestyles, leaving the country or even just needing money in a hurry. When you acquire new things, don’t just store your old stuff. Visit your nearest secondhand dealer and make some quick money. Good opportunity Dealing in second-hand items is a lucrative business for Rahisi Secondhand Mart which has been in existence for 23 years. The shop buys used goods ranging from antiques, furniture and electronics, and TO COMMENT ON THIS STORY GO TO www.nairobinews.co.ke/ secondhand n every corner of Nairobi there is a shop dealing in second-hand household prices depend on the quality and type. The most expensive items are antiques while beds, stereos, refrigerators, and dining tables retail at half the market price, making them a good bargain for customers who are under pressure to make ends meet. On demand For instance, a brand new model of a popular TV brand goes for Sh23,000 in the market. We found the same model, in good condition, going for Sh,15,000 in a second-hand shop on Ngong Road. A spot check revealed that items such Buyer beware •Do not buy second hand goods especially electronics from a random dealer. They could be stolen and you do not want to land in trouble. •Avoid buying auctioned goods. In most cases, they are mishandled during the process of making claims. • Always ask for a price cut. Remember these goods are used, their value is not fixed. •Do not buy an item just because it is cheap, stick to your budget unless it states otherwise. Products from owners are cheap, so avoid purchasing from a dealer. as TVs, beds and refrigerators are the most sought after. “We have people from all walks of life coming into our shop, from expatriates to locals. Some come to sell while others are looking to buy,” said a city dealer. Some of these stores wel- come defective goods too. Once the repairs are made, the dealers place them for sale at a profit. However, do not buy second-hand goods from random dealers, instead get them from trustworthy dealers since their products come with a warranty. University student finds a niche selling clothes online F or Wakina Mutembei, e-commerce is the future. The Uni- versity of Nairobi student says she derives inspiration from profitable investments and that technology is her choice channel. “That is why I am operating an online shop where I stock women clothes and accessories such as jewellery, handbags and shoes,” she says. Her clients include friends and fellow students. However, the 22year-old says it has not been smooth sailing since she started business three years ago. “In September 2010, I started selling clothes online. Three months on, the shop collapsed but I kept my eye on the ball,” says the third-year surveying student. After picking up the pieces, Wakina started marketing her merchandise in January 2011 to friends, occasionally using some of them as models. The business she had started with Tuinuke Pamoja Credit Capital Ltd Chairman Benson Kimani. Hugholin Kimaro, NairobiNews. a meager Sh1,000 was doing well and in April, she needed money to expand. Looking for a partner sounded like a viable idea but she was not ready to share profits for something she had sacrificed so much to put up. “I started a blog where I could post poems hoping to attract advertisers. The plan did not work,” says Wakina who prides herself for being a go-getter. She had also attained a diploma in photography through distant learning and had a passion for fashion. While still grappling with finding other sources of capital, she met someone who contracted her as a ghost writer for a Business Development Book. “My laptop became my best friend and it is while working on the book that I developed interest in designing my own e-commerce website,” she says. She would download tutorials and visit international websites just to get inspiration on how best to improve her website. “I designed Waks House Shop from scratch after learning that acquiring an e-commerce template from the providers would be an expensive endeavour,” she says. Wakina who imports most of her stock says Facebook has potential for growing clients but its demerit is that a majority are not serious buyers. Lynet Igadwah, NN Wakina Mutembei during the interview. Denish Ochieng, NairobiNews.
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