Two Kenyan innovators develop Parking Solution
A new entrant into the car parking business named Parkingfinder is going a long way to help Nairobi residents to secure parking in and around the CBD. In recent years, getting parking in the CBD has become tougher by the day as the majority city dwellers who are middle-income earners, continue to purchase vehicles. This has been the major cause of continuous price increase due to increased demand. Not only are the parking prices higher but also hard to find and one could spend a lot of time to locate.
Due to the above mentioned reasons, a sizeable number of residents have been forced to opt for other options like foregoing their vehicles for holiday, vacation and weekend use rather than daily commute to work. These would be a glad lot to the developers of Parkingfinder, a simple yet basic application that will enable one to locate, book and pay for their parking space prior to driving to their destination in the CBD.
The application developers are two recent graduates from Dedan Kimathi University of Technology and Technical University of Kenya, Patrick Mwangi and Samuel Githae who took Computer Science and Aeronautical Engineering respectively. Their account of the story at least depicts that they came up with the idea after experiencing a whole 2-hour search for parking one Friday evening as they were out with friends after which they found themselves embarking on solving the problem.
Since launching Parkingfinder in November 2018, they have been able to partner with 25 private parking establishments so far and are in pursuit to secure partnership with the Nairobi City County. Having invested Shs. 1.2 million into the project, the two entrepreneurs are optimistic of breaking even soon considering their idea’s continuous rate of acceptance and partnership. The application accepts private investors with parking space to register as partners with them.
The application boasts of secure parking as one of the major selling points. CCTV surveillance systems have to be installed for parking spaces that don’t have them installed for a 25% commission on each transaction done compared to an 8% on each transaction for parking spaces that already have the surveillance system in place. Follow our blog to get latest updates in local business news and our site for listings of the top companies in Kenya.