Market News

Entrepreneur who turned Sh0.5m loan into thriving property firm

Bob Kinyua, proprietor of Marabou Lounges Company Ltd. PHOTO | MWANGI MUIRURI
Bob Kinyua, proprietor of Marabou Lounges Company Ltd. PHOTO | MWANGI MUIRURI 

Bob Kinyua invested in his first piece of land in 2010 at the age of 32 using money borrowed from Youth Enterprise Fund’s Mathira Constituency kitty in Nyeri County.

“I bought a half acre piece of land for Sh200,000 on the outskirts of Chaka Town out of the Sh500,000 interest-free loan that I had qualified for,” he said.

He invested the rest of the cash in an electronics shop in Mombasa town. By 2014, his net savings from his Mombasa business had risen to Sh10 million, while the parcel of land had appreciated to Sh5 million. “With a capital base of Sh15 million, I knew my road to riches had taken shape and it was high time I implemented my dream of becoming a property mogul,” he said.

Mr Kinyua settled for building middle class entertainment joints, which he leased out.