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.
During the show, these contestants live in close quarters testing their social skills as they balance co-operation with competition.
The show aimed at identifying and recruiting young extraordinary business minds in Kenya with limited resources but have much zeal to achieve their entrepreneurial dreams.
The participants are then assigned different rigorous tasks based on typical Kenyan business scenarios whereby they are expected to perform with excellence.
The board members are outstanding Kenyan entrepreneurs who have excelled by establishing companies worth billions of shillings.
Mr. Gerald Wamalwa He quit employment at the age of 28 to start his own company Mellech Engineering and Construction.
On December 16, 2011, he was ranked among the Top 40 Under 40 Men in Kenya for his work at Mellech Group where he is the founder and Managing Director.
He is famously known as the brains behind Excloosive Mobile Toilets that revolutionized 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).
This episode aired on October 27, 2011 The 14 participants chosen are introduced to the board members where they are given 2 minutes to present their idea briefly.
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.
This was conducted by Susan Koinange (MD Koba Waters Ltd.) She encouraged the participants to form 'master-mind groups' or 'likeness teams.'
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.
Task entailed interior design and furnishing Decor Den's new office in Nairobi west which was to serve corporate and home clients all in a budget of KSh.500,000/= (approximately US$5,600).
Team Synergy provided four services namely interior decor, furniture, signage, and marketing the new location.
The board also faulted their office model which did not meet the standards of the client thus handing team Ultimate easy victory.
Finally the board decided since Idah was in charge of financial projection which was missing during presentation as well as being on probation on the previous task, she had to go.
Task The task entailed a board based business simulation that tested their leadership skills, decision making skills, level of understanding, ability to learn and communicate, financial knowledge and general business acumen which was conducted by David Tanki of Lan-X Africa Ltd.
When reviewing the task and setting up the price controls, one member of Touch Limited, William, isolated himself from the rest of the team.
Even though Touch Limited won, they were put to task for not presenting financial statement and balance sheets.
According to the evaluation, the contestants were graded and were as follows; Roy - 24, David - 23, William - 16, Vivien - 22, Paul - 23, Sylvanus - 21, Washington - 24, Lina - 17, Ann - 21.
Both teams then presented their final ad to the Soft and Lovely MD and Jerry Nyagah, Creative Director, Redsky Advertising.
Team Aspire ultimately won the task for creating a good advertisement campaign as well as practical solutions as well as their catchphrase "Tokelezea" which was trendy.
The board determined that the team lost because of poor message delivery, a task done by Roy Muriuki who was in charge of creative thus he had to go.
On the task, the contestants scored as follows: David Kamunde and Ann Githu had to leave the Magnate Mansion for having the fewest points and having performed below expectation.
This meant that Paul Mwige, Vivien Mutimbia, Washington Koimbori and Lina Marie qualified for the finals.
The four finalists were The finals were held at One Degree South Eco Boutique Hotel in Westlands (Nairobi) where the winner was announced.
Pitch Lina Marie - Maya Expo, a web portal to give an insight on how to maintain a youthful appearance ranging from diet, exercise to extremes like buttocks and plastic surgery.
Some of the drawbacks included no clear strategy for the products Washington Koimbori - Pectin Manufacturing Factory from fruits.
After the pitch, the scores tallied were as follows Vivien Mutimbia won KSh.1,500,000/= as the winner of The CfC-Stanbic Bank Magnate Season 1