There are various forms of business advertisement methods but arguably, the most popular and with a wide reach is billboards given that they are put up high and in busy areas, routes and road junctions.
In many urban areas across Kenya, you’ll spot billboards showcasing various consumer products, businesses or agendas. They are often hard to miss.
The billboard advertising industry is one of the profitable businesses that has stood the test of time for entrepreneurs who’ve dabbled in it.
In the Kenyan market, one of the largest and arguably most popular billboard companies is Magnate Ventures. It was founded by Stanley Kinyanjui and his brother Robert Kinyanjui.
The billionaire known for his reclusive nature comes from Kiambu county. He started his education journey at Kibiku Primary School in Kabete constituency before moving on to St. Mary’s High School for his secondary education.
He attended school with top figures like former President Uhuru Kenyatta, William Kabogo, Jimi Wanjigi, and Fred Ngatia.
After his secondary education, Stanley Kinyanjui pursued a Bachelor’s degree at the University of Nairobi focusing on a business-related field. It was during this time that he identified a gap in the advertising and marketing industry.
In 1996, Stanley and his brother Robert Kinyanjui founded and registered Magnate Ventures Limited. The company started its operations in the fields of advertising, marketing, and public relations.
“I run this business with my younger brother and co-founder Robert and when decisions need to be made we do not have a lot of bureaucracy,” Kinyanjui said in a past interview.
Magnate Ventures Limited began by erecting billboards along major highways and roads. They then approached corporates to advertise their products. Over time, the business gained popularity as more Kenyans embraced billboard advertising.
As the outdoor advertising sector flourished in Kenya, Magnate Ventures Limited also expanded. They now boast over 1,230 billboards across the country.
According to reports, large billboard advertisements typically cost around Sh. 1.3 million per year, whereas smaller ones range between Sh. 20,000 and Sh. 30,000.
In 2018, the Nairobi City County Outdoor Advertising and Signage Control and Regulation Board reported revenue of Sh. 2 billion from advertising.
Suggestive Kleenit billboard advert pulled down in Nairobi over indecency
Additionally, they have extended their operations to South Sudan, Rwanda, Uganda, and Tanzania. The company has an impressive portfolio having worked with big corporates and organizations in the world.
These include NATO, the European Union, Manchester Airport Group, UK Customs, Hong Kong International Airport, the US Department of Defence, US Department of Homeland Security.
During campaign season, Magnate Ventures engages in business with numerous politicians. For instance, in the 2013 elections, it was reported that various political candidates leased 30% of the company’s billboards.
Stanley Kinyanjui and Robert Kinyanjui have been hailed as philanthropic people who like to mingle with ordinary members of the public. They give back to their community in the rural areas and also to students in the school they previously attended.
It is alleged that Kinyanjui was one of the founders of a lobby group known as ‘Friends of Jubilee’ which helped fund money towards former President Kenyatta’s campaign kitty in 2017. They made headlines after raising Sh. 1 billion within 30 minutes.
