Kenyan startup Eco-Bana wins Ksh.120 million in 2022 Hult Prize finals

A team of students from St Paul's University competing in the 2022 Hult Prize finals has bagged Ksh.120 million ($1 million) to boost their business.

The team of four who appeared in the competition as Eco-Bana, a start-up that makes biodegradable sanitary pads using banana fibre, beat five other finalists at the event held in New York city during the Clinton Global Initiative Annual Meeting on Wednesday, September 22, 2022.

Lennox Omondi, Keylie Muthoni, Dullah Shiltone and Brian Ndung'u presented their innovation as one with an aim to cut plastic manufacturing while ending poverty.

Former United States President Bill Clinton, who was in attendance, lauded Eco-Bana for their victory.

“The Hult 2022 Prize was such a joyful celebration of innovation and sustainability in business. All our finalists did incredible pitches today, but there could only be one winner. Huge congratulations to Eco-Bana Ltd," said Clinton while delivering his speech.

President William Ruto likewise lauded the Kenyan innovators for their win expressing confidence that their win is a kick-off to Kenya achieving the top biodegradable sanitary towel delivery in East Africa.

"Congratulations to Eco-Bana, a Kenyan social venture started by four university students, that has just won the prestigious Hult Prize and a cash award of 1 million dollars. The prize is awarded to entrepreneurs who strive to tackle pressing global issues through innovation," he wrote on Twitter.

The team, during their pitch at the event, said that they intend to sell more than three million pads, generating over Ksh.6 billion ($50 million) and employ more than 2,000 people by 2024.

The company has already introduced their product in the market and expanded to Egypt.

Mr Omondi is the chief technical officer of the company, Muthomi is the chief operations officer, Shiltone is the chief financial officer and Ndung'u is the marketing officer.