Monday, January 18, 2021
  • Bizna Club
  • Directory
  • SME Awards
  • YEA Awards
  • Login
Bizna Kenya
  • SME
  • AGRIBUSINESS
  • SAVINGS & INVESTMENT
  • AUTO
  • REAL ESTATE
  • NEWS
  • EDUCATION
  • HEALTH
  • TECH
No Result
View All Result
  • SME
  • AGRIBUSINESS
  • SAVINGS & INVESTMENT
  • AUTO
  • REAL ESTATE
  • NEWS
  • EDUCATION
  • HEALTH
  • TECH
No Result
View All Result
Bizna Kenya
No Result
View All Result

Home » SME » Valuable lessons from Kangema billionaires on how to grow wealth

Valuable lessons from Kangema billionaires on how to grow wealth

by Contributor
22nd April 2020
in BIZNA BASICS, FEATURED, SME
Reading Time: 5min read
A A
Kangema Billionaires
22
VIEWS
Share on FacebookShare on Twitter

ReadAlso

Highest paid news anchors and radio presenters in Kenya (Updated List)

Man who quit teaching to preach, shelter orphans marks ministry’s 30yrs

Kenya is broke, CS Ukur Yatani finally admits

Househelp: What I heard on night lawyer Elizabeth Koki was murdered

Kangema Billionaires: This feature on Kangema Billionaires who have put Murang’a County on the map and become some of Kenya’s wealthiest men was first published in the by John Cheruiyot in the Daily Nation.

It is said when you are in Kisumu City, do not throw stones indiscriminately because the chances of hitting and injuring a professor are pretty high.

This is an indirect way that the lakeside residents proudly tell the world that the region easily has the highest number of PhD holders in Kenya.

However, for Rwathia Village in Kangema, if you throw stones around aimlessly you are more likely to hit not a man of letters but one of money. Why? Because billionaires abound here.

Just sample this: Equity Bank chairman Peter Munga is from Rwathia. The bank’s CEO James Mwangi also comes from the village. Investment banker Jimnah Mbaru is from Rwathia too, so is Britam boss Benson Wairegi. Other billionaires from Kangema include businessman Gerald Gikonyo and industrialist Chris Kirubi.

Wainaina: What I’ve learnt from saving 25 per cent of my earnings monthly

What is striking about these billionaire is that they closely work together, particularly Munga, Mwangi and Wairegi. Their relationship is so tight that they own shares in companies that are cross-listed at the NSE. They also share board directorship in companies such as Equity, Britam and Housing Finance. Their joint investments cut across any sector you can think of. At the NSE, they run the show, owning shares worth billions.

The question that any entrepreneur would certainly ask is: How can one own even just a fraction of what these investment gurus have attained?
Mr Munga shared with Money the secrets of amassing fortune that this group has been applying to astounding success.

He says becoming wealthy is never a far-fetched dream when you have a clear vision and unshakable focus. “Just know what you want in business, stay focused and everything will neatly fall in place,” he counsels.

He vouches for joint ventures which he says have high chances of success because partners pool resources and help each other out by sharing ideas. He however says partnerships would only stand the tough test of time if they are managed transparently and the partners are people of integrity.

Underhand dealings and back-stabbing bring businesses down, he opines.

While many joint ventures suffer from destructive wrangles, the Kangema billionaires have stuck together through thick and thin, guided by these principles as well as the desire to succeed and demonstrate that Kenyans too can join the top league of movers and shakers in the investment world.

Mr Munga says honesty is the cornerstone of any successful business. When business partners have no dark secrets between them, he says feuds do not occur and all the energies and resources are spent on building businesses and quickly taking up opportunities when they crop up.

“No brokers (among us). We don’t undercut each other. We don’t sabotage or willingly do som­ething to hurt each other’s business or establishments. It is an unspoken rule that guides how we relate with each other in both business and personal life. That is why you never see us quarreling in public,” said Munga.

The tradition of Rwathia sons working together in business started with the late Gerishon Kirima and Mr Gerald Gikonyo who co-founded Rwathia Distributors. Munga says that from then on Rwathia became a business community whose ideals were forged and shaped by their forefathers.

This pioneering group of entrepreneurs set the pace by designing goals that they resolutely worked towards. Not even limited education blurred their vision and compromised their business acumen.

Sufficient experience

This has been an inspiration to many entrepreneurs from the area: “If they did it with so many odds stacked against them I can do it as well.” This seems to be the guiding philosophy of any budding entrepreneur from Kangema and specifically Rwathia village.

Various studies show that having role models is essential for the success of start-ups. Experts invariably point out that one of the primary reasons new businesses fold up barely a few years down the road is that owners lack sufficient experience. This setback is compounded by the absence of old hands in the trade to guide them through the rough patches of the start-up phase of their ventures.

Continue reading on Page 2 …

Page 1 of 3
123Next
ShareTweetSendShare

Related Posts

Highest paid news anchors and radio presenters
FEATURED

Highest paid news anchors and radio presenters in Kenya (Updated List)

by Contributor
17th January 2021
Glory Outreach Assembly
FEATURED

Man who quit teaching to preach, shelter orphans marks ministry’s 30yrs

by Bizna Reporter
15th January 2021
National Treasury Kenya
FEATURED

Kenya is broke, CS Ukur Yatani finally admits

by Bizna Reporter
15th January 2021
Elizabeth Koki Murder
FEATURED

Househelp: What I heard on night lawyer Elizabeth Koki was murdered

by Bizna Reporter
14th January 2021
KRA Waiver on Tax Penalties
FEATURED

KRA announces major waivers on tax penalties

by Bizna Reporter
13th January 2021
NMS Jobs
FEATURED

NMS announces 240 jobs with up to Sh. 34,000 salaries. How to apply

by Bizna Reporter
12th January 2021
KDF mass recruitment dates
FEATURED

KDF mass recruitment dates, vacancies, requirements and venues

by Bizna Reporter
12th January 2021

Discussion about this post

Follow Us

  • 246k Fans
  • 350.5k Subscribers

Recommended

wedding

Barely 2 Days To My Wedding, My Husband Unknowingly Sent Me Seductive Sex Text Meant For His Lover

4 days ago
KRA Waiver on Tax Penalties

KRA announces major waivers on tax penalties

5 days ago
NMS Jobs

NMS announces 240 jobs with up to Sh. 34,000 salaries. How to apply

6 days ago
National Treasury Kenya

Kenya is broke, CS Ukur Yatani finally admits

3 days ago

Sectors

  • AGRIBUSINESS
    • Crops
    • Dairy
    • Livestock
      • Poultry
    • Rabbit
  • AUTO
  • Bizna Club
  • BIZNA SME AWARDS
  • CUSTOMERS VOICE
  • EDUCATION
  • FEATURED
    • TOURISM
  • HEALTH
  • KENYAN MEALS
  • Life Hacks
  • NEWS
    • Corporate
    • World
  • REAL ESTATE
  • SAVINGS & INVESTMENT
    • Insurance
    • Loans
  • SME
    • BIZNA BASICS
    • Digital marketing
      • Online Bizness
    • E-Commerce
    • Management
      • Career
    • Mentorship
    • PROFILES
  • Sponsored
  • TECH
No Result
View All Result

Highlights

You can now get your digital driving license in a day at Huduma Centres

Career profile of Kenya Airways CEO Allan Kilavuka

After Several Years of Marital Delay, my Sister Finally Found a Man to Settle Down With Him Once She Consulted Doctor Mugwenu

Man who quit teaching to preach, shelter orphans marks ministry’s 30yrs

Kenyan woman who built parents house in 2012 finally builds her mansion

Kenya is broke, CS Ukur Yatani finally admits

Trending

Buzeki Logistics
AUTO

Buzeki shows off new fleet of trucks, shrugs claim he is broke

by Bizna Reporter
18th January 2021

Buzeki Logistics: Less than six months ago, businessman and politician Zedekiah Bundotich Kiprop who is popularly known as...

After Marrying my Rich Husband, I Later on Realized That He Had Been Killing My Unborn Babies To Use It For His Money Rituals To Acquire More Wealth

After Marrying my Rich Husband, I Later on Realized That He Had Been Killing My Unborn Babies To Use It For His Money Rituals To Acquire More Wealth

18th January 2021
Highest paid news anchors and radio presenters

Highest paid news anchors and radio presenters in Kenya (Updated List)

17th January 2021
Digital Driving License

You can now get your digital driving license in a day at Huduma Centres

16th January 2021
Allan Kilavuka

Career profile of Kenya Airways CEO Allan Kilavuka

16th January 2021
  • Home
  • About Us
  • Our Profile
  • Privacy Policy
  • Contact Us

2020 Bizna Digital Services | All rights reserved.

No Result
View All Result
  • SME
  • AGRIBUSINESS
  • SAVINGS & INVESTMENT
  • AUTO
  • REAL ESTATE
  • NEWS
  • EDUCATION
  • HEALTH
  • TECH

2020 Bizna Digital Services | All rights reserved.

Welcome Back!

Sign In with Facebook
Sign In with Google
OR

Login to your account below

Forgotten Password?

Create New Account!

Sign Up with Facebook
Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In