Kenya - Business creation project

Describe your project or startup in a few words

Sharing electricity like airtime! Secure platform lets you share prepaid tokens with specific meters, directly through your phone. Imagine helping a friend or a family member out when they run out of tokens, Token Sambaza (Wattshare) to your rescue.

01.01 Describe your project in more detail

Imagine helping a friend with a power outage, directly from your phone! Shareable Electricity Tokens (SET) is an idea for a Kenyan platform inspired by mobile airtime sharing, but designed for prepaid electricity meters. Through a secure app, you specify the recipient's phone number, your meter for reference, and the amount to share (tokens or kWh). The platform securely transmits a unique token to the recipient, who receives a notification and is able to key in the received unique token on the pre paid meter and eureka you have lights. SET debits your account and credits their meter, fostering a sense of community and reducing cash transactions. Challenges include secure integration with electricity providers for data exchange and meter validation, user verification, and dispute resolution mechanisms. By collaborating with providers and developing a user-friendly app, SET can revolutionize how Kenyans share the power to help each other (Token Sambaza).

01.02 What is the main problem you are trying to solve?

The main problem this project aims to solve is the inconvenience of sharing prepaid electricity tokens in Kenya. Unlike mobile airtime which is easily shared between phone numbers, electricity tokens in Kenya are linked to specific meters, and at the moment are not shareable. One can only purchase tokens for another recepient. This makes helping someone who has run out of power/tokens difficult, and in case of an emergency where one has no money in his/her ewallet they are unable to assist, leaving their friends and loved ones in utter darkness. The current process of buying for another person electricity tokens is cumbersome because it involves: * Buying of the tokens with your cash on mobile money incurring transaction costs, sending the token message to the recepient thus incurrng unnecessary extra costs yet you coud just share tokens if you have enough to share eliminating a lot of costs.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

The Shareable Electricity Tokens (SET) project offers several advantages over the current system: 1. Convenience and Privacy: Imagine helping a friend who is in complete darkness. SET allows users to directly share tokens with designated meters through their phones, eliminating the cumbersomness of having to purchase tokens for a friend without incurring any additional and unnescessary costs. 2. Speed and Security: Urgent situations often require quick solutions. SET facilitates faster assistance compared to traditional methods that might involve finding a vendor or handling cash. Additionally, the secure platform ensures only the intended meter receives the shared tokens, reducing the risk of misuse. 3. Community and Reduced Cash Transactions: SET fosters a sense of community by making it easier to support others during power outages. It also promotes a more digital approach, potentially reducing reliance on cash transactions for electricity top-ups.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

The Shareable Electricity Tokens (SET) project is designed to benefit a broad spectrum of Kenyans who rely on prepaid electricity meters. Here's a breakdown of the key beneficiaries: Individuals in Need: Anyone who has run out of electricity tokens can benefit from the quick and convenient assistance offered by SET. Friends, family members, or even neighbors can easily share tokens directly to their meter, eliminating the stress of having to purchase tokens on behalf of the recepients. People Who Help Others: Those who want to support others experiencing power cuts can do so seamlessly through SET. The platform eliminates the awkwardness of requesting meter numbers or the need for physical cash exchange, making it easier to extend a helping hand. Tech-Savvy Kenyans: Individuals comfortable with mobile technology will appreciate the user-friendly app that allows them to manage electricity sharing directly from their phones with their loved ones.

01.05 When did you start working on your project?

2024-02-01

01.06 How many other partners are associated with your business venture?

0

01.07 Among the other partners, how many are female?

0

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

N/A

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

https://www.linkedin.com/in/nicholas-obudho-54728b139

01.10 Which industry best describes your project?

a) Energy (equipment, services, sustainable energy and fuel)

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

While SET itself doesn't directly provide financial aid, it can help people avoid a temporary setback caused by running out of electricity tokens. Access to electricity is crucial for many income-generating activities, so a quick top-up from a friend could help someone continue working and earning a living. The primary goal of SET is to make sharing electricity tokens easier. This can't directly eradicate poverty, but it can address a specific pain point for low-income households who might struggle to afford additional tokens during unexpected situations.

02.02.01 My project contributes to the Zero hunger goal

4

02.02.02 Zero hunger - Justification

02.03.01 My project contributes to the Good health and well-being goal

4

02.03.02 Good health and well-being - Justification

02.04.01 My project contributes to the Quality education goal

4

02.04.02 Quality education - Justification

02.05.01 My project contributes to the Gender equality goal

4

02.05.02 Gender equality - Justification

02.06.01 My project contributes to the Clean water and sanitation goal

4

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

7 - Strongly Agree

02.07.02 Affordable and clean energy - Justification

While SET itself doesn't directly deal with energy sources, it could be adapted in the future. Imagine a scenario where users share tokens generated from renewable sources like solar panels installed on their homes. This would depend on advancements in smart meter technology and collaboration with electricity providers.

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

The project will lead to creation of decent work within the economy and Africa at large if it scales, assisting the continent in economic growth.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

As this project is unique and innovative it will ultimately spark innovation in the Kenyan economy.

02.10.01 My project contributes to the Reduced inequalities goal

4

02.10.02 Reduced inequalities - Justification

02.11.01 My project contributes to the Sustainable cities and communities goal

4

02.11.02 Sustainable cities and communities - Justification

02.12.01 My project contributes to the Responsible consumption and production goal

4

02.12.02 Responsible consumption and production - Justification

02.13.01 My project contributes to the Climate action goal

4

02.13.02 Climate action - Justification

02.14.01 My project contributes to the Life below water goal

4

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

4

02.15.02 Life on land - Justification

02.16.01 My project contributes to the Peace justice and strong institutions goal

1 - Strongly Disagree

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

4

02.17.02 Partnerships for the goal - Justification

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

1 - Strongly Disagree

05.02 The product/service we envision creating represents an entirely new type of product/service.

7 - Strongly Agree

05.03 The product/service we envision creating could be described as a new technology.

7 - Strongly Agree

05.04 The product/service we envision creating is an improvement on an existing product or service.

7 - Strongly Agree

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

1 - Strongly Disagree

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

05.07 The product/service we envision creating is a new version of an old product/service.

1 - Strongly Disagree

05.08 Justification

Considering the uniqueness and innovativeness of the project I believe the project will be responding to a need that consumers are nt even aware of, while the product will benefir the local community in ways that cannot be anticipated.

05.09 Who are your main potential competitors and what makes you stand out from them?

The Shareable Electricity Token (SET) project faces competition from a few areas in Kenya's prepaid electricity landscape: 1. Third-Party Top-Up Services: Some companies let you prepay electricity for someone else's meter. However, SET offers a potentially more direct and user-friendly solution that doesn't require a separate service provider. 2. Direct Cash Transfers: People might simply send cash to cover electricity costs. However, SET promotes a cashless solution, eliminates the need to know exact token amounts, and ensures the money goes directly towards electricity. SET's Key Differentiators: Convenience and Security: Sharing directly through the phone without meter number exchange enhances user experience and privacy. Speed and Transparency: Faster assistance compared to traditional methods and clear communication about the amount being shared. Community and Reduced Cash Transactions: Encourages helping others and promotes a more digital approach to electricity management.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

Yes. I support female entrepreneurs by purchasing their goods and services.