KENYA – Tumoi Tea, a Kenyan speciality tea processor start up has bagged US$10,000 seed capital from Sinapis, a global business accelerator during their annual business plan competition held in Nairobi, Kenya.
Tumoi Teas produces a wide range of teas in Black, Green, White, Purple and Oolong varieties. Their six brands of teas include Black Beauty, Nandi Gold, Safari Oolong, Glowing Green, Purple Love and Kenya White Rhino.
Boaz Katah, Tumoi Tea founder received the prize alongside another Kenyan SME, Savannah Space who also got US$10,000 after facing stiff competition from six other contestants.
The Sinapis Plan competition in its 6th edition was preceded by a 16 weeks mini MBA training program mirrored on Texas-based Acton School of Business MBA program and blended with practical business insights.
The start-ups also received executive-level business training to help them structure and grow their businesses and play a role in creating a sustainable social-economic impact to the society.
Sinapis Kenya Country Manager Silvya Kananu said entrepreneurs have the greatest potential to contribute to economic development through wealth and job creation.
“Beyond business skills training, we help the entrepreneurs get investor-ready, with an aim to attract growth capital in three to five years,” she said.
Started in 2011 in Kenya, Sinapis Organisation has grown to over 7 countries ith 4,000+ entrepreneurs trained through structured programs and workshops and over Ksh.2.4 billion (US$23.3m) raised in capital.
Sinapis aims to partner with government, non-government and business membership organisations to develop sector-specific training modules. It seeks to help more than 10,000 SMEs by 2022.
Speaking during the ceremony, Ronald Osumba, CEO IGOV Africa, a tech firm, said technical assistance and technology of SMEs is key to economic growth.
“Entrepreneurs need to align their passions with the required skills to convert ideas to fully structured businesses,” Mr Osumba said.