HESHAN DE SILVA, 26-year-old founder of Vencap Kenya

Heshan De Silva is the founder of DSGVencap, a firm that invests in business ideas across 15 different sectors in East Africa. These range from robotics, agribusiness to startups in the hospitality sector.

Mr. De Silva began his journey eight years ago using Sh10,000 allowance from his parents to start a small insurance company.

He would then go on to make his first million after convincing a leading insurer to allow him to sell cover through travel tickets. By the end of the year, the insurance business earned him Sh90 million.

By end of 2013, his company had invested in thousands of businesses with investments ranging between Sh900,000 and Sh1.8 million.

Although Mr De Silva’s business may be valued at over Sh1 billion, he has been on both sides of the profit and loss coin.

The biggest loss he suffered was Sh10 million, all in one day. Interestingly, each of the three companies he has invested in has crossed Sh900 million valuation mark. Mr. De Silva’s stake in the firms he invests in is usually between 25 to 35 per cent, with a maximum shareholding of 40 per cent.

 

PAUL KINUTHIA, founder Interconsumer Products

Paul Kinuthia is the brains behind popular consumer products such as Nice & Lovely, All Time Sanitary Pads, Bouncy Baby Diapers, and Golden Shine shoe polish.

Mr Kinuthia started his journey in 1995, making shampoos and conditioners from his makeshift apartment in Nairobi using a startup capital of Sh3,000.

Although local banks initially refused to fund his enterprise, Mr Kinuthia did not give up.

He ploughed back the little profit he made into the business.

Towards the early 2000, demand for his products began to rise, prompting him to move to a bigger room in downtown Nairobi where he grew his product range to include hair gels and pomades.

According to Forbes magazine, Mr Kinuthia’s products were largely shunned by local supermarkets and uptown cosmetics outlets.

Apparently, they were considered too native. However, they were growing in popularity in the streets and the countryside due to their low pricing and effectiveness.

By early 2000s, Mr Kinuthia’s products were flying off the shelves in nearly all wholesale and retail shops in the country, fuelled by their street popularity.

However, it was not until April 2013 when London listed cosmetics giant L’Oreal fully acquired Mr Kinuthia’s Nice & Lovely brand in a multi-billion shilling transaction that his footprints became noticeable.

The deal with L’Oreal, makers of SoftSheen-Carson, Dark and Lovely and Blue Ice Deodorant, was estimated to have been at over Sh1.5 billion.