Last Christmas Eve as Kenyans were bracing themselves for the big day, a big profitable event was underway in Baringo County — The Kimalel Sh24 million. On average, 1,000 farmers send two goats each to the auction, which netted them a total of Sh24,000 per farmer. The money that each farmer made doubled the normal market price.
Started in the days of former President Moi, the auction is now ably facilitated by the Baringo County Government. It presents simple but innovative ways of optimising profits from locally available products.
One of the invaluable lessons of Kimalel Goat Auction can be found in the words of Warren Buffet, 'Price is what you pay. Value is what you get.'
At Kimalel, buyers part with a high price because of the high value that they get not just in terms of fattened goats but also the social component of it all. Although in this particular case goats go for high prices in return for high value, counties must also balance such high drama business events with methodical initiatives that will enhance low price high value business.
This latter scenario will however only be truly profitable if there is high turnover of the low-priced, highly valued products. One such product is honey. Counties like Baringo, Kitui and Nyamira are endowed with immense honey-producing potential.
Virtually every African middle-income household would like to have honey in their kitchen shelves. But they don't buy it with the same frequency with which they buy margarine. I suggest that honey producing counties should come up with honey events like honey auctions, fairs and festivals. Lamu prides itself as the county of festivals and leads the way in promoting local products and services through festivals.
Low price and high value are prerequisites of sustainable wealth creation that will deal poverty steadfast blows consistently. Indeed, the first Sustainable Development Goal calls on the nations of the world to 'end poverty in all its forms everywhere.' This should be the ultimate yardstick for measuring the success or failure of all our 47 counties. Poverty is dehumanising and must be fought with unrelenting fervour and strategy!
All governments should enact laws that will enable low prices and high value for local products. These two qualities are the best marketing agents. Coupled with innovative and strategic marketing that will reach all Kenyans, low pricing and high value will ensure that honey and hundreds of other locally produced products will play a big role in slaying poverty. Think green, act green!