Kenyan tycoon Steve Mbogo is a prominent figure known for his extravagant lifestyle and remarkable business success. From an early age, Mbogo demonstrated his entrepreneurial skills and amassed great wealth, leaving no room for modesty.
At the tender age of 18, Mbogo accomplished his first million through the sale of scrap metal. This early triumph set the stage for his future endeavors. By the age of 22, he had not only built his own house but was also cruising the streets of Kenya in a luxurious AMG Mercedes Benz S-Class.
Mbogo proudly boasts ownership of multiple highly profitable companies, which generate billions in revenue. He reminisces about his humble beginnings as a scrap metal dealer after discontinuing his education in Form Three. In the Bahati estate, he would collect scrap metal from street families and act as an intermediary between them and Indian traders eager to purchase these materials.
Within a month of venturing into this business, Mbogo was successfully selling two to three tonnes of scrap metal every week, saving his earnings diligently. He allocated these funds towards paying for his school fees and ultimately completed his high school education. His determination and resourcefulness paid off when he received a scholarship, allowing him to pursue a degree in Business Administration from Cairo University in Egypt. Later, he furthered his education by obtaining a Master’s degree in Business Administration from the University of South Australia.
While Steve Mbogo’s political ambitions were dashed when he lost the Starehe MP race to Charles Kanyi (Jaguar) in 2017, his financial prowess remains undeniable. Mbogo discloses that his primary source of wealth lies in the trading of petroleum products, specifically selling three to four million liters of oil worldwide. His business spans across various markets, including Russia, Nigeria, Sudan, Iran, and numerous Arabic countries.
Aside from his thriving petroleum trade, Mbogo holds the position of CEO in Cash Flow Enterprises, a freight forwarding company in which he also holds shares. This enterprise boasts an impressive revenue of approximately US$130 million (KSh 16.2 billion). Moreover, Mbogo has diversified his investments into the real estate and hospitality sectors. With ownership of 32 apartment blocks in Nairobi and 12 four-star hotels in different towns, he has established a strong presence in these industries. Additionally, he owns six nightclubs in Nakuru, Kisumu, and Nairobi, contributing to the vibrant nightlife scene. Not limited to his home country, Mbogo has expanded his business ventures by owning two insurance companies in Uganda, a neighboring landlocked country.
In conclusion, Steve Mbogo exemplifies a life lived in the fast lane. From his early success in the scrap metal trade to his current multimillion-dollar enterprises, he continues to leave a lasting impression with his opulent lifestyle and remarkable achievements.
