Tuesday, February 27, 2024

Mary Wamae: How I built wealth after quitting Sh5,000 job

Equity Bank’s Chief Executive Director Mary Wangari Wamae has opened up about her career life from earning Sh5,000 per month to building multimillion wealth.

Wamae, who was speaking during the 3rd Abojani Economic Empowerment Conference, revealed she landed her first job at a law firm, taking home a monthly salary of Sh5,000.

Given the low earnings, the then mother of two relied on clothes from the Gikomba market, something she says she was never shy about.

Four years later, she decided to quit employment to try entrepreneurship. The Bachelor of Laws degree graduate from the University of Nairobi decided to start her law firm, marking the first step to her rise to grace.

“I practiced at my law firm for eight years,” said Wamae.

Determined to change her life for the better, Wamae joined the Law Society of Kenya Sacco, where she diligently saved her money.

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“I started saving more as the money came in, and eventually, I bought my first car. I stepped up my contributions to the financial institution and eventually bought my first plot on Ngong Road,” she recalled.

“In 2003, I built my own house without taking a loan anywhere, and it took me about three years,” Wamae added.

Explaining her humble beginnings, the bold businesswoman revealed she was brought up by a single mother, but that did not deter her from becoming great.

She further encouraged people intending to start businesses not to shy away from debt, urging them to get innovative ideas and approach financial institutions for financing.

“Resilience has been the story of my life, and I have had to persevere. I had no networks as my family had no connections, but I worked hard to get to where I am and continue to do so,” she said in a past Twitter dialogue.

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