BUILDING AN INVESTABLE AND SCALABLE BUSINESS IN KENYA
Kenya has long been celebrated for its entrepreneurial spirit, where necessity meets ingenuity and ambition. Nowhere is this more evident than in Nairobi, a city increasingly recognized as a nerve center for African innovation. From fintech to foodtech, local entrepreneurs are building products that respond to real challenges and cater to fast-evolving markets. Yet building a scalable and investable business here still demands more than a good idea. Regulatory barriers, inconsistent access to funding, and fragmented support systems continue to limit the speed and sustainability of growth. At a recent event in Nairobi, we heard directly from three entrepreneurs who have broken through these barriers. These entrepreneurs are also ABH Top 10 heroes from 2021 and 2024 and collectively have 3 decades of experience building businesses. Their reflections offer valuable insight into what it truly takes to scale in Kenya.
Mina Shahid:
Build Before You Scale
Mina Shahid is the founder of Numida Technologies, a fintech company that provides digital financial services tailored for Africa’s small and medium enterprises. During the conversation, Mina emphasized the importance of spending time building and refining your product before chasing scale and external investments. He spoke about his own journey navigating early-stage uncertainty, where product iteration took precedence over rapid growth. Mina also addressed the regulatory hurdles that Kenyan and African entrepreneurs face. He operates in three markets, Kenya, Uganda, and Egypt, and pointed out that licensing complexities can severely get in the way of scaling. Mina noted that while founders in the West are only now grappling with heavier government oversight, African entrepreneurs have been navigating complex regulatory environments for years.
While Mina has successfully raised up to $30 million in venture capital funds, he was not quick to encourage founders to pursue VC money without caution. “VC money is not always the best money,” he said, urging founders to think critically about capital types and to understand the investment game, including the concept of founder-market fit. His message was clear: building something real, solving meaningful problems, and generating revenue creates a stronger foundation for attracting the right funding.
Tesh Mbaabu:
The Power of Networks, Structures, and Trendspotting
Tesh Mbaabu, co-founder of Chpter and previously MarketForce, highlighted how building scalable businesses also means tapping into your network and staying close to market trends. Chpter enables businesses to automate sales and customer engagement on platforms like WhatsApp and Instagram. Tesh discussed how access to capital is often linked to visibility within the ecosystem and visibility is built by showing up, networking, and staying informed.
He also emphasized that beyond networking, scalability requires designing models with product-market fit and establishing structures for people and processes early on. Tesh echoed the words of Mina and advised founders to first build traction and Solve problems worth solving.
Tesh encouraged entrepreneurs to use platforms like Africa’s Business Heroes (ABH) to gain visibility, attract funding, and take bigger innovation risks where needed. Looking ahead, he urged founders to explore how AI can be integrated into their operations, staying proactive in an era of rapid technological change.
Alexander Odhiambo:
Scale Requires Systems, Passion, and Service
Alexander Odhiambo, co-founder of Solutech Limited, spoke from the experience of building a bootstrapped company into a multi-country operation. Solutech delivers sales automation tools that optimize distribution and logistics for companies across sectors. Alex shared that competing with global giants demanded more than just grit; it required intentional systems that enable consistency and customer satisfaction at scale.
He stressed the need for repeatability: “Don’t just build something that works once. Build something that works everywhere, every time.” Alex also pointed out that passion plays a crucial role. When navigating the inevitable ups and downs of scaling a business in Kenya, passion is what sustains resilience and commitment.
Key Takeaways for Founders
The discussion in Nairobi highlighted three core lessons for founders in Kenya. First, product quality and consistency remain your strongest pitch to both customers and investors. Second, not all capital is created equal. Understand what kind of funding suits your model and stage. Third, designing with scale in mind from day one through networks, systems, and customer experience is what allows you to move from hustle to structure, and from idea to institution.
