Rebecca Kerubo is a successful entrepreneur from Kenya. She is the founder of Great Concepts General Trading Ltd, a building enterprise that provides modern rental housing which is affordable and durable for self-employed and salary earners in the lower-upper and medium income group.
Rebecca Kerubo inherited the passion for the field of construction from her family. During the years, she has developed a genuine interest in addressing one of the main problems in Kenya: the lack of affordable, modern, and safe houses. Having a bachelor’s degree in Economics and Statistics from the University of Nairobi, a PGD in Entrepreneurship, and having already some experience in the field, it seemed she had everything she needed to start her business. But she felt that she needed something more, that she needed to learn some practical things on how to run a company. She decided then to take part in the Global MBA in Impact Entrepreneurship at Tangaza College University in Nairobi (Kenya) to learn how to manage and scale her business and to have the possibility to compare with some other entrepreneurs and learn from them.
“The company has two apartment buildings with a total of 64 housing units
and a commercial center with nine shops.”
She was more than satisfied with the MBA, the courses, and what she has learned, as it has allowed her to see a real improvement in her business.
“Great Concepts General Trading Limited has seized the opportunity to cater to the rising demand for secure, modern, and fairly priced housing within Kisumu city. The company has two apartment buildings with 64 housing units and a commercial center with nine shops. The pricing has been set to suit the purchasing power of the middle-income classes. This has enabled us to maintain an occupancy rate of 95%-100% while still be able to meet our financial obligations and create job opportunities.” Rebecca stated.
But let’s discover more about her and her business!
1.How was your Business Idea born?
My family, specifically my father, has been in the construction business for over 30 years, and he used to bring us along to construction sites and meetings with clients. I admired his passion and projects; consequently, my interest in construction and management grew. That, coupled with a high deficiency of affordable housing in Kenya due to the growing working population attributing to the country’s growing economy, inspired the business concept.
2.How can your business improve the life of the beneficiaries of your activities?
In response to the identified need for modern and fairly priced housing, my company intends to continue offering to house to the middle-income working population. The apartments are complete with high-quality modern fittings, internet services, a perimeter wall with an electric razor wire fence, CCTV surveillance, and 24hour security. In addition, there are live-in caretakers in charge of the maintenance and welfare of our clients. We also have a backup water supply during shortages, adequate parking, and recreation space. These services have ensured the comfort and safety of our tenants. In addition, the company has created employment opportunities in the construction, management, and maintenance of its properties. It has also created business opportunities for the community. For instance, due to the development, there are eateries, kiosks, laundromats, tailors, etc. These we have achieved in line with the SDGs 8, 9, and 11.
3.What has been the main challenge you had to overcome in your entrepreneurial experience?
Funds have been a challenge in our experience as construction is a capital-intensive process, especially material and labor. Insufficient funds greatly limit the organization’s capacity to timely launch a quality product and operations plan to continue contributing to serving the huge demand for housing. Despite high bank interest rates, especially for young entrepreneurs, funding through loans from financial institutions has been a great opportunity for development.
4.In your opinion, what are the main qualities an entrepreneur should have?
Social entrepreneurs need to have a strong vision for their business’s future. They also need to get the right people, staff, and advisors onboard, who understand that vision and help achieve it, and advice since such visions aren’t always accurate. The most important thing is Integrity. It demands one to be truthful and sincere to him/herself and others. Social entrepreneurs are courageous people. One must be willing to take risks towards achieving their goals without assurance of success. An entrepreneur must be willing to break free of established structures. The youth as well as female social entrepreneurs, if determined, can cause change by redirecting existing organizations.
5.Is there a person you are inspired by, i.e., an entrepreneur or a particular mentor?
Emma Miloyo, the vice president of Women in Real Estate and the first female president of Architectural Association of Kenya.
6.What would you suggest to a newborn entrepreneur?
I suggest working closely with a mentor, preferably an expert with hands-on experience in the business. Next, have a business model and eventually a business plan for your business with detailed operations processes. Last but not least, invest in conducting a feasibility study about your business to enable you to understand your business environment, target market’s needs, and risk assessment to have a product or service that fits the market and be prepared for any eventuality.
7. Could you tell us how the MBA has helped you and your business?
My experience was exceptional. I am delighted to have gone through the program not only for the immense and timely knowledge gained but also for a meeting, connecting, and learning from fellow entrepreneurs and experts from various fields. Since joining the program and applying the knowledge gained, we were able to properly package our business portfolio, enabling us to get financing to complete our latest project. We have also been able to manage our operations better and are now working more efficiently. This drove me to share the program with my contacts, some of whom have enrolled in the MBA.
Learn more on Great Concepts General Trading Ltd
