HUSTLE MAG MARCH 2020 FINAL

MAIN STORY
Q & A
We work with entrepreneurs to deliver
win-win financial solutions that create
mutual impact
With one of the most developed
financial services
sector in the region, Kenya
is a thriving finance
hub. With technology, so
many financial institutions have managed
to create products and services targeting
the bottom of the economic pyramid, an
area that is not well served by mainstream
financial institutions. But what
does it take to serve this segment that
boasts of thousands of micro and small
enterprises?
Hustle East Africa interviewed Mr.
Charles Njoroge, the Managing Director
of Jawabu Biashara, a credit only
microfinance to put this into perspective.
Excerpts.
What is the vision of Jawabu Biashara?
Our vision is to become a market leader
and a partner of choice in the provision of
innovative and customer focused financial
solutions in Kenya. To be a market leader
you need to deliver appropriate and need
based financial solutions to a diverse
customer base. As an institution, we need
to scan the market to ensure relevance
today and in the future. To be a partner
of choice to our current and future
customers, Jawabu biashara will strive to
deliver financial solutions to a majority of
Kenyans conveniently and affordably.
Jawabu Biashara business proposition
to the market revolves around three key
unique business propositions. These are,
fast turnaround time, ease of use and
excellent customer service.
Is this vision not too ambitious for a
start up?
Yes, we know it is ambitious, but we do
not wish to entertain a scarcity mentality.
It is very clear, with good foundation from
our internal customers - the staff, coupled
with an effective leadership and good
understanding of our economic environ-
22
HUSTLE EAST AFRICA
Charles Njoroge, Managing Director,
Jawabu Biashara.
ment, the sense of urgency in pursuing
innovation and technology and first class
focus on customer’s needs, the sky will be
Jawabu Biashara’s limit.
Why Jawabu Biashara?
Jawabu is a Kiswahili word meaning
“answer” in English and the word Biashara
is a Kiswahili word meaning “business”.
The name touches on the mandate we
have set for ourselves: To be an answer
to our target group, the micro business
community, off course we are alive to the
fact that this is not an event, but a journey
that started with the very initial loan we
gave our first customer in Githurai some
two years ago. It’s a journey, we are
committed as an institution to deliver with
some sense of urgency while cognizant
of the need to mitigate risks, prevalent in
lending operations.
What is Jawabu Biashara all about?
Jawabu Biashara is a startup micro
lending organization targeting the bottom
of the pyramid with financial solutions
that are not only innovative but also easily
accessible to the majority. It was borne
out of the fact that quite a majority of
micro entrepreneurs in Kenya not only
require financial solutions, but solutions
that are properly appraised and ability to
pay established. With this, we have developed
channels including digital that offer
a great experience to our customers.
So who is your target customer?
One of the very difficult decisions any
businessperson makes is to wake up one
morning, and say from today, I want to
be an entrepreneur. This is attributable
to the fact that starting a business is not
easy; growing it to the next level is even
harder. This requires a focused and a
resolute mind who knows no bounds and
is committed to deliver success. It is these
kind of entrepreneurs that we in Jawabu
Biashara believe we share a mutual need
to succeed. We work with them to deliver
win-win financial solutions that create
mutual impact.
How different is Jawabu Biashara from
other lenders?
The micro finance sector in Kenya is