Nakuru, a county in Kenya, has a population of 1.3 Million. Up until 2014 there was no local supplier for nails in this county. Eric Ronoh, CEO of EMAX Steel, developed a successful business idea which now enables households as well as retailers to buy high quality nails locally for affordable prices. Eric’s progress in only 6 months has been remarkable, the need for expansion of his production is obvious. EMAX Steel had a great business start thanks to its mentor Bert Evers!
My TEF STory
Name: Eric Ronoh
Sector: Common Nail manufacturing
Brand: Emax Steel Mill
It has been great being one of the entrepreneurs of the Tony Elumelu Entrepreneurship Program (TEEP 2015). Thanks to Tony Elumelu Foundation (TEF) and the mentorship by Hubertus Evers!
I have received first class entrepreneurship training, my business plan has been professionally evaluated by Accenture, and I was mentored on business expansion. I received $ 5,000 seed investment and it has really transformed my business.
Emax Steel mill specializes in production of common nails of different size from 1-3 inch. It is expected to catch the interest of a regular retailer and wholesaler loyal customer based on its quality and affordable common nail with constant supply to the market. The company plans to build a strong market position in the town, due to the owner industry experience and mild competitive climate in the area nail. The business buys rod of black drawn wire as the raw material then its reduced to different diameters, used for making different size of nail from 1 inch to 3 inch of nail. In future the business will venture into production of 4-6 inch of nails and also the U nails.
The business has been successful after receiving the TEEP training and weekly mentorship on business expansion and management and it has continued to grow and it has already hired 4 full-time employees to handle customer demand and day to day operations. The business has also managed to acquire all the machines required to produce quality and affordable nail. Our biggest challenges will be to meet market demand and acquire enough capital to expand the business.
Thanks a lot to the Tony Elumelu Foundation and my mentor Hubertus Evers. The TEF journey to develop Africa by Africans has started.