The CfC-Stanbic Bank Magnate is a Kenyan business reality television show in which 14 participants compete in an elimination-style competition for a top prize of KSh.1.5 million/= (US$15,000) as seed capital for their business. The show typically ends with the 3 board members eliminating one of the contestants with the catch phrase, "You Have to Go!". The slogan of the show is "Winning is Just the Beginning".
The show first aired on October 27, 2011.
Idea The CfC-Stanbic Bank Magnate is a reality television show that starts with a group of participants vying to earn a top prize of KSh.1.5 million/= (US$15,000) as seed capital for their business idea. The participants are drawn from diverse backgrounds and regions across Kenya. During the show, these contestants live in close quarters testing their social skills as they balance co-operation with competition. The participants are placed into teams, and each week are assigned a task and required to select a team leader for the task. The winning team advances to the next task, while the losing team remains in the boardroom where the board members determine the person to go and is automatically eliminated from the show. The show was sponsored by CfC Stanbic Bank and premiered in October 2011.
Eliminations involves the losing team being confronted with their loss in a boardroom meeting. The team leader is then asked to select one of their team members who was the weakest link. The board members then determine who has to go as well as put on probation participants whom they believe underperformed in the task assigned.
The board members reserves the right at times to do the following: not allow the losing team leader to determine who has to go, and to let go multiple people who were on probation from the previous task and performed poorly on the task assigned. The board members also discourage quitting.
Selection
The show aimed at identifying and recruiting extraordinary young business minds in Kenya who had limited personal resources but were keen to pursue their entrepreneurial dreams. Over 800 applicants from throughout Kenya applied to participate in The Magnate, with 96 participants short listed for interviews in Nairobi where they presented their business ideas to a panel of judges. The best 14 participants were then contacted to participate in the show. These participants were then assigned different rigorous tasks based on typical Kenyan business scenarios.
Board Members The board members are Kenyan entrepreneurs who have established companies worth billions of shillings. They include
Dr. Catherine Masitsa Rozsa She started off as a veterinary surgeon, going on to create a career in various multi-national organizations before she started her own company. She entered the a billion-shilling wedding industry in Kenya by creating Samantha's Bridal. She also Publishes other popular business and lifestyle magazines.
Mr. Gerald Wamalwa He quit employment at the age of 28 to start his own company Mellech Engineering and Construction. Starting with one pick-up and zero capital, he created a company in the construction industry in Kenya with a turnover of over a billion Kenya shillings.
Mr. Moses Nderitu He is a serial entrepreneur. He is known as the brains behind Excloosive Mobile Toilets that involved in the sanitation industry in Kenya especially for outdoor functions. He was ranked among the Top 40 Under 40 men in Kenya for his achievements at Excloosive Limited where he is the Founder and Managing Director(MD).
Participants
Name Age Residence Business idea Date Leaving House Paul Mwige 29 Nairobi Car Hire Business - Pems Autozone 1st Runner-Up, November 22, 2011 Silvanus Osoro Onyiego 22 Meru Direct Sales December 8, 2011 Ryan Johnstone 25 Nairobi Renewable energy November 10, 2011 David Kamunde 23 Meru Plastic Recycling December 15, 2011 Kenneth Ng'enoh 28 Kericho Biogas Fuel November 17, 2011 Roy Nyagah Muriuki 24 Nairobi Fuel Saving fuel - Hydrogen Fuel December 8, 2011 William Waweru 25 Nairobi Car Wash December 1, 2011 Washington Koimbori 23 Kikuyu Pectin Manufacturing Factory 3rd Runner-Up, December 22, 2011 Lina Marie Kotonya 29 Nairobi Beauty Treatment - Maya Expo 2nd Runner-Up, December 22, 2011 Idah Maina 24 Nairobi Coffee Shop November 24, 2011 Kahara Kiarie 29 Limuru Comparison Site November 10, 2011 Peter Ruhiu Njogu 24 Nyahururu Power Generation November 3, 2011 Anne Githu 29 Nairobi Fresh Produce December 15, 2011 Vivien Mutimbia 29 Mombasa Domestic Tourism - Mkenya Mtalii WINNER (Season 1) December 22, 2011 David wokabi kamau 29 Mombasa Business Sales consultant June 8, 2013
Episode 1 Episode 1 covered the interviews of the 96 shortlisted participants out of the over 800 people who applied to participate in the show. The hopefuls underwent rigorous scrutiny to determine the 14 participants that will proceed to The Magnate Mansion. The interviews took place in Nairobi. This episode aired on October 27, 2011
Episode 2 The 14 participants chosen are introduced to the board members where they are given 2 minutes to present their idea briefly. At the mansion, they trained on disaster management, team building and entrepreneurial mentoring classes. They were divided to 2 teams namely
Team Deli fresh
Members Anne Githu - Team Leader David Kamunde Mwirigi Kenneth Ng'enoh Lina Marie Peter Ruhiu Njogu Ryan Johnstone William Waweru
Team Ultimate
Members Silvanus Osoro Onyiego - Team Leader Kahara Kiarie Paul Mwige Roy Nyagah Muriuki Idah Maina Vivien Mutimbia Washington Koimbori The first task required the contestants to supplying fresh produce to Tuskys Supermarket in Nairobi. They were to go to the local market and purchase various fresh produce requires by their customer (supermarket manager) then sell to him at a profit. The team with the highest profits margins wins. They were then to prepare a report on the task assigned to them at the boardroom where the board members were to assess and determine the winner. The task tested on Time Management, Profitability, Ethics and Compliance with the Law, Pricing and Crisis Management. Team Deli fresh had some of the products rejected due to poor packing while Team Ultimate managed to sell all their produce. In the Board room, it was a straight victory for Team Ultimate with a profit margin of 10% while Team Deli Fresh made a loss of over KSh.1,200/=. The board members were not impressed by the 10% profit margin made by Team Ultimate but in the end it was Team Deli Fresh that had to lose one member. In the board room, Team Deli Fresh made even more mistakes by presenting the wrong figures to board members as well as not nominating one member who was the weakest link to take blame. Peter Ruhiu Njogu decided to quit which did not go well with the board members and had to go and subsequently leaves the show. Anne Githu, Kenneth Ng'enoh and David Kamunde Mwirigi were put on probation for lack of focus, presentation of wrong data as well as the team leader lack of leadership. This episode aired on November 3, 2011
Episode 3 This episode aired on November 10, 2011, on Kenyan TV Stations: Kiss TV and KBC. The remaining 13 participants remaining had had a reality check having been through the first board appearance and consequent eviction in the previous episode. They were more keen and highly anticipated the next task.
Week 2 began with a motivational session in the house. This was conducted by Susan Koinange (MD Koba Waters Ltd.) She encouraged the participants to form 'master-mind groups' or 'likeness teams.' These teams were to meet often in order to keep the team members inspired. She used the metaphor of making 'apple juice with the apples given to them.'
The task briefing was delivered differently. Instead of the Board meeting the participants and informing them, it was presented to them at the house by Kirika Kirimi in a sealed envelope. They were instructed to read the contents within and discuss it within 30 minutes. In addition, they were to nominate 1 participant who was to be 'immune' from eviction that week.
The Task brief of 2 November 2011 was read to the entire team by Roy Muriuki. It read: ...following last week's contest, the board was displeased and was of the feeling that neither of the teams executed the tasks with the diligence it deserved. To this end, the Board has decided to not personally attend the briefing. The Board sincerely hopes that this week's task will be taken more seriously and executed in a more fitting fashion...
The automotive and upholstery cleaning industry in Kenya consists of highly automated processes and other more manual processes in the country. The main performance criteria for such firms include acquiring new customers and earning daily profitability. In regional corporate training simulations involving business management, operational exercises often involve handling the processes involved in managing car wash within specific shifts, such as from 8:00 AM to 3:00 PM.
The previous 2 teams had been
Team Deli fresh
Members Anne Githu - Team Leader David Kamunde Mwirigi Kenneth Ng'enoh Lina Marie Ryan Johnstone William Waweru
Team Ultimate
Members Silvanus Osoro Onyiego - Team Leader Kahara Kiarie Paul Mwige Roy Nyagah Muriuki Idah Maina Vivien Mutimbia Washington Koimbori
The second task brought the contestants to DGM Car Wash in Nairobi. Team Ultimate had deliberated to charge a minimum of KSh.150/= per car and were willing to go as high as the client seemed able to afford whereas Team Deli Fresh had decided to range between KSh.200/= - KSh.250/=. They were welcomed by the proprietor 'Caroline' and briefly oriented. She then gave them an envelope containing further instructions from the Board for them.
They were instructed to form 2 new teams ensuring that not more than 4 members form the previous teams were to be together again in the new teams! This was to be completed within 30 minutes.
The new teams
TEAM ULTIMATE
Kiarie Kihara - Team Leader Roy Muriuki Paul Mwige Ann Githu David Kamunde Washington Koimburi
ULTIMATE HUSTLERS
Ryan Johnstone - Team Leader Lina Marie Vivien Mutimbia Idah Maina Sylvanus Osoro Kenneth Ng'enoh William Waweru
The challenges arising among the teams Duty allocation / division of labour Equipment preparation Customer acquisition Competing for the same clients (both teams were at the same car wash, getting cars from the same highway) The equipment not being versatile enough (e.g. the washing pipes being too short to reach all areas of some trucks to be washed.) Customer complaints Customers bargaining for the lowest price Convincing potential clients to pop in for a wash Stealing each other's clients Some dissatisfied clients Weather change (it began to pour rather heavily) Coordination between the sales team & the work-force Pulling in more cars than they could handle at a given time Washing the cars in a rush hence not cleaning them satisfactorily Having to pay for venue (which they discovered after they were done for the day)
Strategies The two teams each divided themselves into two groups; one went out to market themselves and attract clients while the other got down to cleaning the cars that came through! The sales teams were cut-throat - literally bringing traffic to a standstill! The teams using the rain - interruption of workflow to strategize further When told of the rental charge that they had overlooked, they bargained to cut down their losses
Point of caution The Task wasn't about washing cars but about running a car wash!
In The Board Room
Characteristics to remember about each Board member
Gerald Wamalwa Seeks integrity & excellence and does not tolerate short cuts.
Dr. Catherine Masitsa Evaluates the entrepreneur's risk-taking abilities and capacity to seize business opportunities.
Moses Nderitu Seeks entrepreneurs, with an eye for opportunity.
What the Board members observed