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“A business that makes nothing but money is a poor business.’’
This quote by Henry Ford suggests that a business’s true success goes beyond financial profit and should encompass a strong mission, positive impact, and purpose beyond mere financial gain.
This approach fits perfectly with the life and business journey of Francis Eli Mulekya, a Kenyan entrepreneur making waves in the bustling world of industrial engineering and spare parts.
Mr. Mulekya not only stands out as an engineering technical director but as a visionary entrepreneur whose journey is marked by resilience, reinvention, and a deep sense of purpose.
His entrepreneurial spirit was born at a young age, on dusty village roads, walking beside his late grandmother, a peasant farmer and trader.
“Having brought up by my late grandma who was a subsistence farmer and a trader of farm produce, I could accompany her during the market days. In the evening of the market day, we would spend hours counting money. This early inexperience inspired me to become the entrepreneur I am today,” he recounts.
At just 12, Mr. Mulekya ran his own farm, which earned him Sh1,000 in a single season. After high school, he joined his mother at her modest roadside shop in Eastleigh where he mastered the arts of running a business.
His mother would later lend him Sh20,000 to start his own business. Mr. Mulekya started a travelling bags and suitcase business which broke even after just few months, creating a million revenue within just a year.
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“Within a few months, I had returned the Sh20,000 to my mother and within a year I had made my first million,” he recalled.
He later sold the business and proceeded to pursue his mechanical engineering degree at Moi University. At the university, he attempted to venture into the photocopying business but the business did not thrive.
After graduating, Mr. Mulekya had a brief stint in Kenya before landing an engineering opportunity at an American multinational’s Dubai factory.
But even then, his entrepreneurial itch never quite left. He wanted to invest back home and purchased a 14-seater matatu to ply the Nairobi – Kitengela route, a venture that, unfortunately, failed.
“I left it with family members to run. Unfortunately, the business was unsuccessful. The matatu was grounded within a year demanding huge amounts of money. I later sold the matatu at a throw away price,” he explained.
Longing for home, Mulekya returned to Kenya when a UK-based company offered him the role of Regional Business Development Manager for East Africa. The opportunity turned out to be a game-changer not only for himself but also for the company.
In the six years he worked with the company, Mr. Mulekya scaled the business from Sh20 million in annual turnover to nearly Sh500 million, serving markets across the region.
However, a financial crisis sparked by the devaluation of Nigeria’s naira, crippled global operations leading to the closure of the Kenyan office.
“80 percent of the global business was domiciled in Nigeria. In the period there was massive devaluation of naira the Nigerian currency, money and funds in close to Sh2.5 billion were stuck in Nigeria and could not be reoperated back in UK to facilitate trading in other global markets. My boss advised me to shut down the Kenya operations where we had 4 staffs,” Mr. Mulekya explained.
But where others saw an ending, Mr. Mulekya saw a beginning. Using the insights he had gained globally, he founded Prestige Industrial Services Ltd., a professional industrial machinery and spare parts company.
From a one-man team, he grew the company to over 15 employees, supplying over 100 factories across Kenya.
“Although we experience steady growthy in the early years, that was cut short by covid 19 where the global supply chain was disrupted and goods stuck in various suppliers across the world and not moving over 6 months. I experienced massive cancellation of orders as well as delayed payments and massive losses. With my supportive staff, we managed to pull through and now we are experiencing steady growth.”
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Prestige Industrial Services offers a wide range of services, ranging from power tools, bearings, and compressors to advanced test equipment and factory OEM spares.
Lessons in Leadership and strategy
Mr. Mulekya credits his leadership approach to lessons learned from early life and mentors including grandmother, parents, and industry giants like Strive Masiyiwa of Econet Wireless and his former boss, Michael Robbinson of Entec Global.
On managing people, he is firm: “Create a safe and open environment. Offer strong but fair leadership. And always, always understand your customer.”
The bold businessman is already planning to expand into manufacturing. But despite his success, challenges remain, among them tight fiscal policies, high taxation, and fluctuating currency rates, which weigh heavily on small and mid-sized enterprises.
“Business financial is a very critical component for the growth of SMEs in Kenya however there is need of mutual understanding and training by the financial institutions to the entrepreneurs with the aim of improving financial literacy & access, communication and support services,’’ he argues.
His biggest business lessons include keeping the purpose and motivation alive, building connections, balancing vision and pragmatism, innovation, learning from failure, self-reflection, and care.
At the same time, he regrets not mastering financial management at an early age. Still, Mr. Mulekya believes every mistake has been a stepping stone.
In five years, Mr. Mulekya envisions Prestige Industrial Services as a global brand and a market leader in Africa.
“Start now,” he advises young entrepreneurs. “Grow organically and strategically. Learn from failure.”
Away from boardrooms and factories, Mr. Mulekya is a goat farmer who enjoys gym sessions, adventure travel, and has recently taken an interest in golf. The father of four drives the latest Mitsubishi Pajero, which he describes as his “retirement car.”
