Titus Muya is the founder of Family Bank, a major financial institution in Kenya. With no banking experience or capital, he walked into Treasury offices to request a license to start a bank. People dismissed the idea as ludicrous, but his determination pushed him forward despite repeated rejections.
He started as a clerical officer in government ministries after his O-levels, driven by a love for reading and a desire to build something of his own. When his efforts to open a bank failed, a friend suggested he apply for approval to start a building society instead. In 1984, he founded Family Finance Building Society with a single outlet in Nairobiโs Standard Building, using an initial loan of Sh500,000. He hired an experienced manager and even opened the first account himself.
Unable to draw a salary, Muya reinvested everything into the business for nearly 20 years. He shifted focus from corporate clients to unbanked rural communities, offering school fee loans to coffee farmers in Kiambu, Gatundu, and Githunguri, with repayments made through coffee wages. This strategy grew the customer base and revenue steadily. He served as chairman and CEO for 23 years. In 2006 he sold his stake, and in 2007 the society received a commercial banking license from the Central Bank of Kenya to become Family Bank.
Beyond banking, Muya built other businesses including Daykio Plantations Limited, which expanded into real estate, and Kenya Orient Insurance. He also co-founded Alpha Africa Asset Managers and invested heavily in dairy farming. Today, Family Bank is going public with shares trading at Ksh 18, valuing the company at Ksh 29.9 billion.
@NyargotS@JimnahMbaru There are two projects at JKIA. One is renovation of existing and two, is building of new facilities.
Current capacity is around 8M, after new facilities capacity moves to over 20M.
However, I do agree more airports the better.
I was invited to Kenya by @bharatthakrar (BT) to join his company @WPPScangroup in 2010.
BT and I disagreed on several issues over the years, but he was clear: keep the clients and the business growing, and he would not interfere but help you grow. He kept his promise. My team saw growth, I grew, and I worked the longest stint of my career at WPP Scangroupโ13 long years. I made Kenya my home, made several friends, and built a life in Kenya.
@Dr_OkongoOuma12@DanChepta They can execute this considering nowadays kids grow up watching YouTube, Netflix etc making them exposed to all sorts of of things, good & bad.
Mark Zuckerberg says Apple's lack of innovation since the iPhone will lead to its decline
"They haven't really invented anything great in a while. Steve Jobs invented the iPhone, and now they're kind of sitting on it 20 years later"
"Year over year, I'm not even sure they're selling more iPhones at this point. Part of it is that each generation doesn't actually get that much better, so people are taking longer to upgrade"
"They built stuff like AirPods, which are cool, but they've thoroughly hamstrung the ability for anyone else to build something that can connect to the iPhone"
"I'm pretty optimistic that because they've been so off their game in terms of not really releasing many innovative things... eventually they'll get beat by someone"
Dangote Gets Heroโs Welcome in Ethiopia, Raises Investment to $4bn
President of Dangote Industries Limited, Aliko Dangote, received a warm welcome in Gode, Ethiopia, where he was hosted by Prime Minister Dr. Abiy Ahmed.
Both leaders visited the site of the proposed fertiliser plant to assess ongoing construction. Ethiopia had signed a shareholdersโ agreement with Dangote Group in August last year to establish a urea plant with a capacity of three million metric tonnes annually.
Dangote announced an increase in investment from $2.5 billion to over $4 billion, reflecting expanded scope, including a 110km pipeline, a 120MW power plant, a polypropylene packaging facility, and a two-million-tonne NPK blending plant.
Prime Minister Abiy described the project as a strategic initiative to boost agriculture, enhance food security, and reduce import dependence. He noted steady construction progress and expressed confidence in its impact on farmers, job creation, and economic growth.
The project reinforces Dangote Groupโs commitment to industrial development across Africa.
@NjiruAdv Do you consider school going children, health professionals who offer emergency ๐จ services, people taking loved ones to hospitals? Youโre too careless and inconsiderate.