This archive report was first published on 13 September 2021.
Published on September 13, 2021, Kevin Kigima Ng'ang'a, co-founder of Pokeapay, a fintech company offering e-commerce digital marketing and payment solutions, shares his journey in finance and entrepreneurship.
Ng'ang'a recounts a significant financial mistake he made early in his career. He received a Sh3 million windfall bonus but instead of investing it wisely, he spent it on poor lifestyle choices.
At the time, Safaricom shares were undervalued, trading at around Sh2.50 per share. If he had invested the Sh3 million in Safaricom shares, his stake of about 1.2 million shares would today be worth approximately Sh50 million.
Ng'ang'a also shares another financial lesson he learned from investing in a mobile money distributor who never launched. He emphasizes the importance of due diligence and tasking himself to give an objective probability of losing money in an investment.
Before co-founding Pokeapay, Ng'ang'a led two of Kenya's largest online forex brokerages, achieving unprecedented success with client trading volumes reaching $9 billion per month and over Sh1 billion in investments.
Ng'ang'a also highlights the importance of embracing the power of compounding, using money market funds that compound interest and pay at a higher rate than inflation.
He advises that entrepreneurship may be a better way to create wealth faster, but it's not for everyone. The risks you take and the decisions about the money you earn determine what side between wealth and struggle you end up on.
Ng'ang'a emphasizes the importance of having a mentor, accountability partner, and network in one's career or business. These relationships can provide valuable guidance, support, and opportunities.
