His business plan for Kilimo Yetu came second at the NEVA Business Plan competition, and he says that it was like “receiving a go ahead from God.” On the panel of judges were two multi-millionaires including the CEO of Craft Silicon, one of Kenya’s biggest international success stories in the tech space.
“For them to say that they would invest in my idea was a huge motivator.”
So how far has he taken it? “Right now I’m collecting orders for a wheat project at 25 percent return in six months. Investments start at KES.100,000 and we have access to 10 acres in Narok. We have identified the proper insurance channels for our crops with partners such as CIC Insurance and we’re officially starting operations in September 2013,” Jerry says.
“I’m setting up a system to receive more orders. I believe a lot of companies will enter the market place should our model receive the market acceptance I’m hoping for, so we need to create a capacity that can establish us as main players in the market in two or three years, while at the same time, keeping our levels of risk at the minimum. We cannot compromise our business and allow an investor to lose their money with us – that’s unacceptable.”
Jerry dreams big. In two years, he targets achieving the capacity to facilitate investments worth 0.5 billion shillings. That’s about 2,000 greenhouses (8x30meters). He, therefore, needs farmers, and experienced ones at that. For this, he plans to approach some NGOs in the agriculture industry.
“In 2 years I expect that we will directly employ 20 to 30 people, and indirectly benefit 3,000 people either by creating casual labour or permanent jobs. We plan to keep our investors happy by surpassing expectations, whether it is by delivering on contracts before time or offering them less risk for their money,” Jerry projects.
“One important thing, however, is to benefit my fellow businessmen who see this unique opportunity to create wealth. Bi-lateral contracts in agribusiness are very useful in Kenya today. Entrepreneurs can work with Kilimo Yetu to set up 40 to 50 greenhouses under Agribusiness companies that employ farmers. They would work with us to get funding where they would have otherwise required immense values of collateral.”
“Our Agribonds are a solution that I believe will strengthen this nation’s already productive agricultural industry, and enable us to play a key role in achieving Vision 2030. There’s a lot of cash coming in (the country) and a lot of it is going into Agribusiness. The focus is on creating as much wealth as possible by producing as much food as possible. I also see an opportunity with tomato paste importing countries like Nigeria.
“In 5 years I expect that I’ll be able to get on Alibaba and order milling and baking equipment anytime. After all, the richest Tanzanian, my role model Said Salim Bakhresa feeds nations with his bread. It’s wonderful, and so long as Kenyans continue to eat bread and tomatoes, I’ll eventually have fuel for the range rover.”
