This archive report was first published on 6 May 2020.
From 'Sleepy' to Thriving Business Hub ¶
Nkubu Town, a mid-tier business and residential township in Meru County, has undergone significant transformation in recent years. Once considered 'sleepy,' the town is now in hot pursuit of its major administrative sibling, Meru town, just a couple of miles north.
High-rise business projects are slowly changing the town's skyline, and many entrepreneurs are eager to be part of this new tide. One such entrepreneur is a hardware business owner who chose to invest in the supply of building materials.
Despite having majored in business in college, the entrepreneur's parents, who were the principal financiers, had little faith in this venture. The ravaging COVID-19 virus situation also didn't help. However, the entrepreneur was determined to succeed.
Learning from the Best ¶
To learn from the best, the entrepreneur decided to visit one of the town's most established hardware merchants, The Kinoti G.K Hardware. The business is located in an iconic building along the highway that splits the town.
Meeting the gentleman took a while, but the entrepreneur learned a lot as they waited at the premises. One, he rarely worked there; he ran the business from home. Two, the customers rarely came to the premises; all day long, they'd see pick-up trucks getting loaded for deliveries to construction sites.
When they met, the pleasant gentleman was keen to share his business strengths, on a mentorship role. He had opted for cashless payments, and its success to the E-commerce solution offered by his banking partner, Co-op Bank.
With E-commerce, customers do not need to be physically present. Payments can be transacted at any time from any location in the world, and delivery is done. For instance, Kenyans in the diaspora with construction projects in their rural homes would pay make payments directly to his Co-op Bank account. Delivery of materials to the site is then made.
There's more sales, too, as E-commerce allows flexibility for multiple currencies – Kes, USD, GBP, and Euro. Besides, a customer enjoys a variety of cards: International VISA credit and debit cards, pre-paid cards.
While the entrepreneur was targeting local customers, the merchant advised them to visit Co-op Bank. They'd assist them get a Lipa Na MPesa till number for their business.
In the face of danger with the COVID-19 pandemic, it's safer to go cashless with the E-commerce solution from Co-op Bank.
