Steve Mbogo, a Kenyan tycoon, has carved a prominent niche for himself, well-known not only for his opulent lifestyle but also for his remarkable success in the world of business. His journey as an entrepreneur began at a young age, and his extravagant achievements have left little room for modesty.
At the tender age of 18, Mbogo achieved his first million by venturing into the scrap metal trade. This early triumph laid the foundation for his future endeavors. By the time he reached 22, he had not only constructed his own residence but was also cruising the streets of Kenya in a luxurious AMG Mercedes Benz S-Class.
Mbogo takes pride in his ownership of several highly profitable companies that collectively generate billions in revenue. He fondly recollects his humble beginnings as a scrap metal dealer after discontinuing his education in Form Three. In the Bahati estate, he engaged in collecting scrap metal from street families and acted as an intermediary between them and Indian traders eager to acquire these materials.
Within a month of entering this business, Mbogo was successfully selling two to three tonnes of scrap metal every week, diligently saving his earnings. He allocated these funds towards his school fees, ultimately completing his high school education. His unwavering determination and resourcefulness paid off when he earned a scholarship that allowed him to pursue a degree in Business Administration from Cairo University in Egypt. Later, he continued to advance his education, obtaining a Master’s degree in Business Administration from the University of South Australia.
Although Steve Mbogo’s political ambitions suffered a setback when he lost the Starehe MP race to Charles Kanyi (Jaguar) in 2017, his financial acumen remains unquestionable. Mbogo reveals that his primary source of wealth comes from the trading of petroleum products, specifically selling three to four million liters of oil globally. His business extends across multiple markets, including Russia, Nigeria, Sudan, Iran, and various Arabic countries.
In addition to his thriving petroleum trade, Mbogo holds the position of CEO at 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). Furthermore, 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 firmly established a strong presence in these industries. Additionally, he owns six nightclubs in Nakuru, Kisumu, and Nairobi, contributing to the vibrant nightlife scene. His business ventures have not been confined to his home country, as he also owns two insurance companies in Uganda, a neighboring landlocked nation.
In conclusion, Steve Mbogo embodies a life lived in the fast lane. From his early accomplishments in the scrap metal trade to his present multimillion-dollar enterprises, he continues to leave an enduring mark with his opulent lifestyle and remarkable achievements.
