This archive report was first published on 31 July 2019.
July 31, 2019
At 44, Peter Macharia made a bold decision to leave his job as a relationship manager in a bank to pursue his long-held dream of starting his own business. He had spent two decades in the banking industry, but the desire to be his own boss and create something from scratch had become too strong to ignore.
"As I worked, the ambitions I had nagged me even more," Macharia says. "I had achieved and surpassed the targets set for me, but I knew that if I wanted my own business to succeed, I had to start when I had the energy and drive to get things done."
With a golden handshake from his former employer, Macharia set up Jijenge Credit Limited, a registered non-deposit taking microfinance institution, in April 2014. The business has grown hundredfold in just five years, with over 5,000 active customers and 20,000 clients served since its inception.
"I was the one who processed loans issued to start-ups and other businesses that eyed growth," Macharia recalls. "I would see these businesses grow and flourish, and I realised I could be the one taking a loan to further my business. My salary compared to the amount of money I was generating for my employer was like a drop in the ocean. Why not make the money for the business of my dreams?"
Today, Jijenge Credit Limited offers loans against logbooks and to salaried customers, with a flagship product that can be processed in under an hour. The business has also set up a research and development department to stay ahead of the competition and innovate new ways to attract and retain clients.
"Good customer service is the perfect way of marketing," Macharia says. "Our clients refer more clients to us, and we have built a reputation for treating our customers well."
With a strong foundation and a clear vision for the future, Peter Macharia's journey from banking to entrepreneurship is a testament to the power of hard work, determination, and a willingness to take risks.
