This archive report was first published on 9 September 2019.
September 9, 2019, marked a significant milestone for Boniface Wanjala, the founder of Rich Science World Ltd, a fast-growing school equipment firm based in Kisumu. The journey to success, however, was not without its challenges.
Wanjala's story began in 2008 when he lost Sh150,000 to a business partner who ran away with proceeds from supplying a school with laboratory equipment and chemical reagents. The setback was a tough blow, especially since it came just months after he had opted to quit his job and try his luck in business.
Despite the setback, Wanjala refused to give up. He dusted himself up and decided to forge ahead with renewed vigour and focus in building his company. With little experience in the enterprise, Wanjala took up a small office space on Kisumu City's Oginga Odinga Street as he deliberated on how he would pay the loan he had borrowed from a commercial bank.
His fortunes soon turned around when he received orders from two schools to supply them with chemical reagents worth more than Sh50,000. Due to his lack of collateral, he approached a friend who offered him the money, which he promised to pay in a month. After delivering the stock, he was paid instantly, and he immediately got other deals that he managed to supply before repaying the loan.
Wanjala later sought more funds from financial institutions to cater for his growing demand. The deals he got proved to be his breakthrough, as he slowly started gaining confidence and the much-needed financial muscle to enable him to make progress in his long journey.
His turning point came in 2018 when the management of Cooperative Bank of Kenya selected him as one of the business people to travel to China on a sponsored trip meant to expose them to emerging business trends. The opportunity gave him time to interact and establish critical networks in the leading commercial Chinese cities of Guangzhou, Shanghai, and Yiwu.
Through the network, Wanjala was able to make his first import of two consignments of goods worth millions of shillings in May this year. Today, he has opened new offices in Bungoma and Busia, and he looks to have a tighter grip of the entire western region market and expand from over 20 schools that he currently serves.
He has employed five people who help him to manage and supply his products to secondary schools and colleges in Nyanza, parts of Rift Valley, and the former Western Province. Wanjala advises new entrepreneurs that one needs to embrace a strict financial discipline to keep afloat during the low business period.
