Safaricom CEO, Bob Collymore, has urged Kenyan entrepreneurs to conduct thorough market research before setting up their own businesses.

Speaking in a past interview with The Standard newspaper, Mr Collymore said they need to know their market needs so as to avoid replicating one's business success.

He bemoaned the 'Kiosk mentality' that is rampant among many business owners in the hope of siphoning a rival's client base and revenues.

"The biggest mistake we make is that we have what I call the 'Kiosk Mentality'. So if I am a hawker and I am selling oranges and the neighbouring hawker is selling bananas and she sells more bananas today, guess what I am going to do tomorrow? I will sell bananas!" he said.

Shopping malls

Mr Collymore also pointed out the growing number of shopping malls around the country amid saturation of the retail market.

"You see that mentality even in the construction of shopping malls. I have been here for about seven years and suddenly there is a shopping mall everywhere, but now there are empty shopping malls everywhere," Collymore remarked.

He instead challenged young people to come up with unique solutions to help solve some of the world's most pressing porblems.