American seed accelerator YC Combinator finances Saida, a mobile lending app that was co-founded by Kyale Mwendwa and Kenneth Ngetha. But Kenyans are not known to shy away from the challenge of deep-pocketed investors, and are determined to play in the microloans sector, despite the odds. The problem may boil down to the fear some local start-ups have that they may lose their idea to investors without getting proper compensation. But there appears to be change afoot, with local investors looking to give start-ups the leg up that they need. In Peter Mombo’s estimation, raising funding for local start-ups is the most difficult thing to do, so partnerships are likely to gain more acceptance.

Source: Standard Digital July 12, 2017 06:11 UTC