Trader's concept that aims to raise capital locally to fund projects

Innovator Jacob Kioko copyright owner dichotomous universal growth web innovator & Kauti School & College pioneer in the bottom up economic training with effect from January 2023. [Wilberforce Okwiri,Standard]

A businessman has developed an innovation that seeks to ensure Kenyans earn points for every purchase made which will form part of investment capital from the economy.

Jacob Kioko, the proprietor of Kauti Schools and Colleges, who is an innovator and copyright owner of Dichotomous Universal Growth Web Innovation (Dugwi), believes the points will see Kenyans become capital owners and enable them to finance the recurrent expenditure instead of waiting for allocation from the national government

“The innovation seeks to equip everybody in the country with investment capital on a free-for-all free-of-charge basis, convert the masses into capital owners and thus make capital ownership a basic social right so that they are enabled to finance their entire recurrent expenditure budgets from their own economic resources rather than wait for allocations from the national government,” said Mr Kioko.

Investment capital

He argues that his innovation was aimed at improving development and business growth by raising investment capital from local resources.   Kioko noted that the Dugwi innovation was inspired by the identification of the nucleus national problem that led to the development of a marketing programme, and mutating hexagonal marketing theories.

“This is the comprehensive sales promotion programme that yields an intimate partnership relationship between society and business through which Dugwi raises investment capital from local resources in the domestic economy,” he said.

He argues that innovation is a unique bottom-up economic approach concept.

“In this programme, Dugwi equips everybody in society with investment capital on a free-for-all free-of-charge basis. The only criteria for a person to benefit from this scheme is for one to be alive,” said Kioko.

“At a further mutation stage, equip the domestic economy with purchasing power, a key attraction factor for both foreign and domestic investors,” he added.

The innovation is 10 years old and Kioko noted that efforts to get an audience with the Office of the President during the regime of former President Uhuru Kenyatta and Deputy President William Ruto in 2014 over the economic plan, were unsuccessful.

“For the last seven years, I had been trying to get political goodwill, without which I cannot execute either a national or a global rollout of the innovation,” he said. “The magnitude of the impact of the innovation on society and the national economy is such that political support is essential,” he added.

Kioko explained that the innovation is an economic improvement project based on using public-private partnerships to improve the livelihood of low and middle-income earners.

Private sector

He noted that Dugwi is a patented marketing innovation born of intermarriage between society and business, whose aim is to infuse the vibrancy of the private sector of the national economy into public service.

Kioko said the concept is in the same category as David Ricardo’s world revolutionising economic innovation which focuses on the economic benefits derivable from the comparative advantage in free trade.

Dugwi focuses on internal trade as a leverage medium to foster total social integration and achieve simultaneous business profitability growth and perpetual human economic development.

Although the magnitude of Dugwi’s impact on the economy and society is big, it is very cheap to finance.

Beyond the initial kick-off of external funding, it is self-sustaining hence affordable.

He explained that the benefits of the innovation were a disciplined and systematic financing and growth of business and industry from cottage to multinational levels that would ensure the eradication of poverty, civil strife, corruption, and tribalism.

Kioko is confident that Dugwi would also create jobs, and national wealth and boost purchasing power, thus attracting foreign and domestic investment.

Once implemented, he said the step is the development of the Dugwi curriculum and training Kenyans on innovation.

“Convert Dugwi into an export product of unprecedented value by establishing a worldwide joint venture Business Corporation then post the trained Kenyans out there to manage the joint venture businesses as they transfer the benefits of the innovation to the rest of mankind,” he said.

Economic leadership

His dream is to see the setting up of the Dugwi International Finance (DIF) the equivalent of the Bretton Woods institution, the International Monetary Fund (IMF).

This he said will thrust Kenya into world economic leadership long before we develop the capacity for industrial takeoff.

“Dugwi is a one-off investment ventured and is not a cost to anybody; society, business, or the government. Beyond the initial kickoff of external funding, it is self-sustaining,” said Kioko.

The businessman explained that Dugwi Innovation’s perpetration is financed by the incremental revenue derived from the incremental profitability, which comes from the incremental business induced by the augmented benefits offered to society by the business as an inducement to buy more and a reward for supporting business profitability growth.

“Dugwi operates at a level above local politics. It takes up the more difficult task of raising investment capital from local resources, leaving other economic reform programmes to tackle the less difficult tasks of project prioritisation and control; then I will do syndrome,” he said.

Kioko noted that the innovation also settles the thorny political issue of the winner takes it all by offering election losers jobs in the economic sector.

“Further still, Dugwi settles the thorny land problem by shifting attention from land as the only source of economic livelihood and fronts trade as a dependable supplement to agriculture as in the cases of Dubai and Kenyans of Indian origin,” he said.