Tuesday, February 27, 2024

Clarence Muhoro: Kenya’s youngest investor who bought Safaricom, Centum shares as a teen

Clarence Muhoro is an entrepreneur and founder of Young Investors Kenya, an investment platform that teaches young people about Personal Finance, Wealth creation, and Investment.

Narrating his investment journey, the 22-year-old revealed his love for investment was ignited after attending a cryptocurrency presentation in Westlands, Nairobi, in 2018.

Later, Muhoro, in partnership with his family, invested in a digital currency, which later turned out to be a scam.

This, however, did not deter him from taking another financial risk but taught him the importance of seeking knowledge in investment.

“By the end of 2018, I had read a lot of books on investment and taken finance classes and was really excited to invest in shares and try be the Warren Buffet of Kenya,” says the United States International University (USIU) Bachelor of Arts in Finance graduate.

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He would later propose to his saving partners that they invest all their savings, an idea that was well received by each of them. So, they bought their first 100 Safaricom shares at Sh22 each in December 2018.

“I looked at Safaricom and saw the right essentials and fundamentals of a wonderful company. They had great leadership under Bob Collymore, happy employees, had products and services that were likely to grow further into the future……This indicated great growth into the future, and that is what I was looking for.” Said Muhoro.

Afterward, he teamed up with his brother to buy 100 shares at Centum. They used accumulated coins they had saved up in jars to buy the shares.

Within three months, the Safaricom shares had grown by 40 percent to Sh31 per share while also declaring a dividend and the Centum shares had grown by 9 percent.

By July 2021, Muhoro had invested in about six companies at the NSE with over 1,500 shares.

“My ideal investment strategy is to look for growth stocks. Stocks with the potential of growing 2x, 5x, 10x, or 100x in the future. I used to check on dividends too or look for undervalued companies, but I realized that looking for growth stocks was a far more efficient approach,” he says.

Through his company, Young Investors Kenya, Muhoro currently teaches others the basics of investments, including how to research about companies, the criteria for selecting growing stocks, investing strategies, and financial and non-financial analysis of companies, among others.

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