Turning disaster into success

Premium Ventures (K) Ltd was started by eleven beauty therapists. After the attack on Westgate Shopping Mall, where they used to work, the members of this chama started their own spa, creating employment for themselves. [PhotoS: JONAH ONYANGO/STANDARD]

By Sophia Oyugi

 

1.            What is the name of your group and why the name?

We are known as Premium Ventures (K) Ltd. We settled on the name after conducting a name search through the office of the Registrar of Companies. The name means all our services and products will be a cut above the rest.

2.            How did you meet?

We were working at the Westgate Shopping Mall as beauty therapists. One day, over tea break, the idea of a chama was floated, and interestingly, before noon, we had settled on the office bearers and proposed group names and monthly contributions.

3.            When did you form the group and how many are you?

We formed our group in March, last year. We will hold our first AGM this month (April). There are eleven members; nine women and two men. When we formed the group, our primary objective was to invest in real estate development for sale and also for rental income.

4.            How often and where do you meet?

When we began, we used to meet after work (8.30pm) at Java in Westgate, but we now meet in our own office in Westlands. We used to meet twice a month, but now our meetings are held every Thursday from 9am.

5.            Do you contribute any money?

Our monthly contribution is Sh10,000 per month. The money is deposited in the group’s account.

6.            Is the group involved in any project?

After the Westgate attack, we decided to make the transition from employees to employers. We opened a spa and barbershop (Premier Beauty Lounge) at Krishna Centre in Westlands.

In addition to this, we supply goods and services to various organisations.

7.            How has the group benefitted members?

The members have secure jobs, and their livelihood can only get better. They are also shareholders in the company. Another major boost is the morale in the group; knowing you are working hard for yourself makes everything worthwhile.

8.            Any challenges?

Raising our venture capital was a major challenge. Luckily, thanks to the help we got from Rafiki Microfinance Bank, Premier Beauty Lounge opened in December, last year.

Another challenge we have overcome is getting some of the high-end clients to believe we are up to the task. At Westgate, the standards were high but we have set the bar even higher.

9.            Plans for the future?

The group’s future is bright. Buoyed by the performance of Premier Beauty Lounge, we plan to establish other spas in various locations in and outside Nairobi. We also plan to open our beauty training division, Premier Beauty Academy, in July.

10.Your last words?

For those in chamas, follow your objectives and also be flexible to adapt to the changing environment.  For those who have a great dream of becoming or owning something, if you cannot do it alone, join a group. Save and save some more for you do not know about tomorrow. Above all, trust in God.