Reuben Kimani serves as the CEO and co-founder of Username Investment Ltd, a prominent real estate development and investment enterprise situated in Kenya.
Could you elucidate the core focus of your enterprise and what incited its inception?
Our enterprise is fundamentally centered on addressing a longstanding issue within our nation. Historically, property ownership in Kenya had been a privilege limited to the affluent, with land prices exceeding one million Kenyan Shillings and house costs surpassing three million Kenyan Shillings. This financial barrier rendered property ownership unattainable for individuals with modest and moderate incomes.
In 2013, I discerned this gaping void in the housing sector. Alongside a select group of partners, we embarked on a mission to provide accessible land options, offering plots at an affordable starting price of 199,000 Kenyan Shillings. To date, our endeavors have borne fruit through the realization of 39 projects and the issuance of more than 8,072 title deeds. These ventures are strategically located across areas such as Ngong, Nakuru, Tinga, Konza, Naivasha, Athi River, Matuu, and Kangundo Road.
Could you shed light on the initial financial outlay for launching your venture?
Commencing a business often entails grappling with the arduous challenge of acquiring capital, a hurdle that we, like many entrepreneurs, faced head-on. Our maiden project unfolded in the Konza region, entailing a valuation of 2.5 million Kenyan Shillings. Unfortunately, we possessed only a modest portion of these funds at the time. In order to finance this inaugural endeavor, I had to secure an unsecured loan amounting to 1.8 million Kenyan Shillings from a bank, facilitated through my previous employer.
Could you recount your journey as a young entrepreneur and elaborate on the strategies you employed?
My upbringing in a humble setting and rural environment imparted invaluable lessons that have significantly shaped my trajectory. Early on, I learned the importance of self-reliance, particularly due to the financial constraints we encountered, especially concerning school fees.
In my sixth year of schooling, I acquired the skill of shoe repair, enabling me to earn pocket money and gain esteem within the village. This pursuit not only provided financial support but also furnished me with rudimentary business acumen and life lessons.
Subsequently, I engaged in diverse ventures, including employment on a flower farm after completing high school, aiding college students in green card applications for a nominal fee, and instructing computer skills at my former high school. These experiences honed my ability to optimize limited resources for maximum gains.
Aptitude for discerning opportunities swiftly, capitalizing on them optimally, and progressing efficiently emerged as traits that guided my path. Moreover, an early emphasis on adaptability proved pivotal. Despite academic excellence, I recognized that emulating the diligence of a dropout was crucial to achieving success.
Given the prevalence of real estate scams, could you elucidate the challenges you confronted?
Similar to numerous Kenyans who’ve fallen prey to fraudulent real estate activities, we encountered a disheartening setback when we lost five million Kenyan Shillings, which we had deposited for a property that turned out to be a scam.
This loss nearly precipitated the downfall of our business, as it consumed our entire available funds. The ensuing financial constraints necessitated brainstorming alternate solutions to persevere. Fortuitously, we established a collaborative partnership with a landowner, effectively revitalizing our enterprise.
Reflecting upon your journey, are there any lessons you’ve gleaned or aspects you would approach differently?
Rather than regarding them as regrets, I regard these as invaluable learning opportunities that have engendered both personal and corporate growth. In our initial operational phase spanning 2013 to 2015, we focused on relatively modest projects.
With the wisdom accrued over time, we could have embarked on more expansive initiatives from the outset, thereby achieving heightened outcomes. During the inception, our risk-taking was tempered by only one partner’s full involvement in the business.
Subsequently, exponential growth was catalyzed when we chose to resign from our respective employments, affording us the capacity to dedicate ourselves fully to the enterprise.
What guidance would you extend to emerging young entrepreneurs?
Thorough research is imperative before venturing into any enterprise. This diligence enables the selection of a viable, sustainable idea. It’s judicious to invest prior to business initiation, securing a financial buffer to sustain operations for the initial six months until stability is established.
A deep understanding of customer needs, coupled with a commitment to exceed expectations, is pivotal. In the context of real estate, for example, the true measure of success lies in the timely issuance of title deeds.
Addressing the aspiration for financial success, could you offer counsel to the youth?
We must dispel any illusions of instant wealth. Triumph necessitates strategic planning and steadfast implementation. Our journey, spanning over seven years, involved a gradual progression. Initial stages comprised three projects completed within three years, during which we remained relatively inconspicuous.
However, the trajectory shifted dramatically in 2016, gaining momentum to culminate in a particularly successful 2017. Patience is a requisite; meticulously drafting and subsequently executing a comprehensive strategy is the blueprint for enduring prosperity.
Furthermore, entrepreneurship extends beyond mere pecuniary gain. While wealth is advantageous, it should not serve as the exclusive impetus. Pioneering solutions that cater to genuine needs will invariably yield financial rewards.
Envisioning the forthcoming half-decade, what are your aspirations?
My aspirations extend to becoming a distinguished figure in business leadership, wielding influence not only within Kenya but across the broader African landscape. I endeavor to instigate tangible societal transformations that could inspire countless budding entrepreneurs throughout the continent.
Guided by innovative business ventures and backed by a capable team, my ambition encompasses the realization of affordable housing solutions within Kenya.
