Eco-Bana founders win Sh120 million by clinching the 2022 Hult Prize

Kenyan students Lennox Omondi, Keylie Muthoni, Dullah Shiltone and Brian Ndung’u were awarded the 2022 Hult Prize for their innovation on Tuesday evening.

The entreprenuers who are students at St Paul’s University in Kenya founded Eco-Bana which makes biodegradable sanitary pads from banana fibre.

The event was held during the Clinton Global Initiative Annual Meeting in the US, where Former President Bill Clinton made the keynote address.

Unfortunately Muthoni who serves as the Chief Operating Officer was not able to make it for the ceremony.

Eco-Bana founders Lennox Omondi, Dullah Shiltone and Brian Ndung’u receiving the 2022 Hult Prize in US on September 20, 2022 Eco-Bana founders Lennox Omondi, Dullah Shiltone and Brian Ndung’u receiving the 2022 Hult Prize in US on September 20, 2022 Pulse Live Kenya

The company was awarded Sh120 million ($1 million) after emerging as the best out of six finalists.

“The Hult 2022 Global Finals 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,” Hult International Business School announced.

During their pitch, Ndung’u said the company plans to sell more than 3 million pads, generating over Sh6 billion ($50 million) and employ more than 2,000 people by 2024.

READ: Students turn school project into multi-billion company in Kenya

The biodegradable sanitary pads are already available in Kenya, and an expansion to Egypt is in the pipeline.

A lot of the money the students won will be used to acquire state-of-the-art machines for mass production.

Eco-Bana founders Lennox Omondi, Keylie Muthoni, Dullah Shiltone and Brian Ndung’u receiving an award during the Kiambu Youth Innovation and Entrepreneurship Week in May 2022 Eco-Bana founders Lennox Omondi, Keylie Muthoni, Dullah Shiltone and Brian Ndung’u receiving an award during the Kiambu Youth Innovation and Entrepreneurship Week in May 2022 Pulse Live Kenya

The students advanced to the final round after winning the regional summit in Johannesburg in May and finishing second during the Global Accelerator held in August.

The company was formed in 2020 due to the challenges experienced by many Kenyan women in accessing sanitary towels.