What brought Lipa Later down? Founder opens up on the fall and his next venture

Former Lipa Later CEO and current Managing Partner at MRE Real Estate Limited, Eric Muli, during an interview at his office on May 13, 2026.

Photo credit: Francis Nderitu | Nation Media Group

Having studied entrepreneurship at Strathmore Business School in Kenya and later at Babson College and Stanford University in the US, Eric Muli was bubbling with ideas.

One day, he went to a phone shop in Nairobi and asked if he could buy a device in instalments. The attendant told him that such an arrangement could only be done with a bank.
That was when it hit him.

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