Premium Ventures Kenya Limited officials receive a trophy from Nairobi Securities Exchange vice chairman Bob Karina (right) after being declared the East Africa Investment Group of the Year during the inaugural East Africa Chama Awards at Safari Park Hotel in Nairobi on December 16. PHOTO | SALATON NJAU
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The awards, which are the brainchild of Rafiki Microfinance Bank, seek to encourage investment clubs as a self-financing model among start-ups to enhance the growth of small and medium enterprises.
Premium Ventures Kenya Limited has emerged the overall winner of the inaugural Chama Awards 2014, walking away with a Sh1 million cash prize and one acre of land.
The awards ceremony, held at the Safari Park Hotel in Nairobi on Tuesday, also saw Mecasolid Investment Society and Soy Valley feted in the category of East Africa Investment Groups of the Year.
The awards, which are the brainchild of Rafiki Microfinance Bank, seek to encourage investment clubs as a self-financing model among start-ups to enhance the growth of small and medium enterprises.
“We started this initiative with the objective of encouraging entrepreneurship and help the growth of indigenous chamas. It will now be an annual event,” said Rafiki Bank CEO Daniel Mavindu.
The competition was styled along the lines of the Top 100 mid-sized companies survey and focused on identifying Kenya’s fastest growing chamas and rewarding their entrepreneurship and resilience.
“We wanted a shift where members can team up and fund their own business of choice without normal challenges associated with security when securing loans,” said Mr Mavindu.
Groups from Kenya, Uganda, Tanzania, Rwanda, Burundi as well as South Sudan were eligible to take part in the competition that attracted a total of 24,000 entries.
Mr Mavindu said that chamas have evolved to become a key financier mainly to the small and medium enterprises, which lack collateral to access loans to spur their enterprises.
TransCentury chairman Zephaniah Mbugua was declared the Life Time Achiever of the Year. Dasojep Waste Management, Umoja Muslim Women Group and Kiwa Self Help Group took home the Best Investment Group in Social Responsibility award.
Nano Investment Group Limited, Tshuane Group Limited and Amazon Basin Limited were winners in the Best Investment Group in Diversified Portfolio category.
Alps Investments Company and Holdings Limited, Machakos Comrades Investment Society and The Second Family Company Limited won the Best Investment Group in Member Contribution award.
Kings Kapsoya Youth Group, Bethosawa Development and Investment Group, and Tendo Self Help Group won in the category of Fastest Growing Investment Group.
The Most Innovative Investment award went to Umoja Muslim Women Group, Inua Group and Kiwa Self-help Group. The awards were supported by the Business Daily, Britam and Safaricom.
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