Tuesday, May 7, 2024

Erick Kinoti: Man who became a millionaire at 25, a multimillionaire at 31

From a young age, Erick Kinoti had a promising future ahead of him, so much so that Forbes Magazine had him on the list of Africa’s most promising entrepreneurs of 2014.

The recognition was an acknowledgment of his hard work and motivated him to aspire for greater success in life.

The businessman is the Founder of Shade Systems (EA) Ltd, Alma Tents Ltd, Bag Base Kenya Ltd, and SafiSana Home Services Ltd.

Born in Mombasa in 1984, Kinoti attended a trio of schools including St. Martins Boarding Primary School, Abothuguchi Academy, and Nkubu High School.

He eventually went off to Tsavo Park Institute, obtaining a Diploma in Business Management. His entrepreneurial journey later began thanks to his business acumen as he made his first million at 25 years of age.

According to him, the entrepreneurship seed was ingrained in him at a young age. He started his first business while in primary school, selling sweets to his classmates, followed by the pancake business in high school.

Must read: The Most Profitable Businesses To Start in Kenya

After college, the ever-optimist Kinoti started selling eggs to hotels in Malindi before moving to Nairobi, where he sold milk to hotels.

It was through the milk supply business that the idea of tent business popped. According to him, he was invited to supply some products for an outdoor event which was being hosted in a particularly interesting-looking tent.

By the time he left the venue, he was convinced he could build a viable business out of making tents – a business that was then predominantly controlled by foreigners.

True to his words, Kinoti started Shades East Africa Ltd with the little savings he had. He revealed he had a total of Sh60,000, which the then 24-year-old used to start the business and hire five employees.

The businessman acknowledged a challenging cash flow during the first years in business, which forced him to perform most of the technical roles and tactical tasks.

However, after a few months, the business secured numerous clients within the first year, creating room for expansion.

Shades East Africa Ltd deals with all types of tents, from relief tents to military tents. It also offers shade solutions such as parking shade and erecting canopies.

Today the company has a presence in other African countries, including Rwanda, Uganda, Somalia, Tanzania, and Congo, creating employment for over 50 people.

Following its success, Kinoti expanded to other businesses, including Alma Tents, a tent-hiring company, and Bag Base Kenya Ltd, a manufacturer of bags using cutaway materials from the tent manufacturing process.

He is also the brain behind SafiSana Home Services, a professional cleaning services company.

Among the challenges he encountered in his initial entrepreneurship years were cash-flow problems and difficulties landing and keeping clients.

He acknowledged the importance of mentorship in business. Through his hard work and innovation, Kinoti was twice named one of Forbes’s 40 Under 40 Most Promising African Entrepreneurs.

In 2014, he was named in Forbes 30 Under 30 Most Promising African Entrepreneurs. He also received the SOMA Awards 2014 Most Influential SME Personality Award in the same year.

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