Raphael Obonyo serves as a strategic advisor with the United Nations and the World Bank. He is also the convener of The Youth Congress forum.
Money Mistake: Handouts have been my biggest financial weakness, sometimes out of compassion, and having grown up in an environment of lack and poverty. I sympathize a lot and find myself handing out money that I could have utilized in more productive ways. In retrospect, though, I think I should ensure that whatever money I give out helps the recipient in the long term. While it is a good thing to be a philanthropist, there should be some long term benefits in the act of philanthropy.
If I could start all over again: I would identify my passion early on and invest in its development. I would concentrate in what really matters most to my career, and accommodate less distractions.
Entrepreneurship vs Employment: I advocate for entrepreneurship as the better channel for creating long term wealth. It is more sustainable, and offers more opportunities for growth. Personally, I dislike the routine that comes with employment. On the contrary, entrepreneurship enhances dynamism and builds an urge for risk and competitiveness. I love taking risks and innovating, and that is what true entrepreneurs do.
On losses: There have been plenty of tough moments in my career, I have lost resources, and missed opportunities. One of the things that I have learned from this is that you have to be consistent, acknowledge failures, pick up the lessons and move forward with buoyancy. Always refuse to succumb to self-pity, and never despair. Ensure that you give your best, and get the process right.
The key to wealth: Wealth creation is something you have to purpose to do in order for it to happen. You have to make the right choices – on how to spend your resources, including time, finances and skills. You have to identify and seize every opportunity, and use your every minute and coin as effectively as possible.
On saving: My savings are based on goals and timelines. Once I have a reason for saving, I set a target and plan on the amount I need to set aside either monthly or annually.
What it has taken to be where I am: I’m a restless dreamer. My dream must absolutely stay with me at all times, regardless of how strong the wind blows. I believe that you have to visualize and have a picture of what you want to become or where you want to get. Without this focus, today I’d still be languishing in Korogocho slums where I was born and raised. It has also taken extreme hard work to grow my career. I hear people say that in our contemporary environment, you work smart not hard! I still don’t trust this concept, but I do know that to succeed you must work hard, keep learning and be innovative. I often tell people that Narendra Modi, the Prime Minister of India only sleeps for 3 hours – a whole Prime Minister! With a less powerful title, I think I can do with fewer hours!
Greatest milestone: A few years ago, I applied for the Ford Foundation’s International Fellowship Program (IFP) – arguably one of the most prestigious and extremely competitive scholarships in the world. I applied three times for 3 consecutive years. I got the scholarship in my third trial and joined Duke University’s Sanford School of Public Policy. That was the turning point in my life. You must have the patience and persistence to hang around a barber long enough in order to get a haircut!
