ERIC KINOTI, founder Shade Systems East Africa
Eric Kinoti started with Sh60,000 capital, which he’d raised from selling eggs, and a Sh2 million loan from a shylock. Although Eric Kinoti was able to repay his shylock loan, he considers it as his biggest mistake since he paid Sh1 million interest.
Eric Kinoti made his first millions after getting a Sh15 million military tender. By last year, his company was worth over Sh150 million, with Toyota Kenya, East Africa Breweries, Department of Defence and Bata Shoes Company among his top clients.
He advises startups to always observe what successful entrepreneurs are doing and innovate. “Observe and create unique structures that will not ape or limit you.”
Eric Kinoti’s entrepreneurial skills have seen him appear in the Business Daily’s Top 40 Under 40 twice. His firm, Shade Systems East Africa makes luxury tents, bouncing castles, car park shades, branded gazebos, garden umbrellas, and marquees. Early last year, Mr Kinoti, 30, was named in the Forbes list of 30 Most Promising Young Entrepreneurs in Africa.
MICHAEL MACHARIA, founder Seven Seas Technologies
In 2012, Mr Macharia was featured in the Forbes Magazine list of Ten Young African Millionaires to Watch. This followed his success at Seven Seas Technologies, one of the largest IT firms in East Africa. According to Forbes, his company was estimated to be raking in Sh4.5 billion in annual sales.
Interestingly, Mr Macharia, 40, established the IT firm aged only 25 years. So huge was the success of the firm that a majority stake buyout interest from Safaricom had been successfully pitched in late 2011, only for the board of Safaricom to later opt for a two-year partnership.
The IT firm specializes in integrated business technology in the financial, telcom, real estate, and service industry.
Seven Seas Technology is currently planning to debut at the Nairobi Securities Exchange through an IPO in 2017. His firm has over 130 employees and is currently working in partnership with Safaricom to angle for a bigger slice of the sprouting ICT projects in the county governments.
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