Nairobi, June 10 -- Having studied entrepreneurship at Strathmore Business School in Kenya and later at Babson College and Stanford University in the US, Eric Muli was bubbling with ideas.

One day, he went to a phone shop in Nairobi and asked if he could buy a device in instalments. The attendant told him that such an arrangement could only be done with a bank.That was when it hit him.

"Of course, banks are not looking at my 23-year-old self to give a Sh15,000 loan to buy a phone," the 34-year-old recalled in an interview with the BDLife.

So, a concept of allowing such purchases without the rigours of involving banks became a business idea.

"The concept started with us trying to allow people to access essential items. You know, a phon...