Students in Free Enterprise (SIFE) 2010 winners, Moi University, are warming up for the world championship to be held in Los Angeles, California. The student project is aimed at fostering financial literacy, enterepreunership and business ethics by creating home-grown solutions to local development challenges.

The initiative focuses on community projects that each participating team has developed and implemented in the last 12 months, laying an emphasis on the impact of the projects on the neighbourhood in terms of improvement in the living standards of beneficiaries.

“We will be looking at the needs that students single out from their neighborhoods, the intervention prescribed and measurable outcomes,” said Andy Watt, Syngenta CEO. SIFE partners with Postbank, Coca-Cola, Syngenta Kenya, KPMG, USAid, RadioSimba, among others. .

Among the projects that had an impact on the community was the online shopping initiative that was aimed at connecting its users and major shopping centres in Nakuru. The online shop called Sokopepea in co-ordination with major transport companies and chain stores in Nakuru has reduced the time, money and energy the students and the communities living around Kabarak University spend while going for shopping.

SIFE has been holding the competition every year since 2003 and has helped about 260 students to access the global arena in the last seven years. The initiative aimed at developing entrepreneurial and business leadership skills saw over 8 universities participate and fourteen in attendance.

“KPMG is committed to sharing its expertise in developing the business acumen in the young and emerging minds” said the KPMG project manager, Mr. Robert Onyango.

SIFE disbursed close to Sh250,000 in cash prizes to winners in the event in which more than 600 student members from 14 universities participated. Maseno University were last year’s champions and represented the country in Berlin, Germany, where they lost in the semi finals.

Local universities have failed to proceed beyond this stage for five years running, prompting a review of the approach. Mr. Shikwati said SIFE will scrap the current project focus model after this year’s competition in a bid to employ a strategy that will see them improve their competitive edge.

By Rawlings Otini - Business Daily