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Simon Gicharu: I started with KSh. 20,000 loan in 1995, today I am a Kenyan Multi-billionaire

Simon Gicharu considers himself a gambler, a habit that nearly got him expelled from Kiawaria Primary School in Githunguri.

“I was always looking for ways to make money. In secondary school, I founded the Gathiruini Bomas Club, charging fellow students fifty cents to watch dancers,” he recalls.

For his efforts, he made Sh2 weekly. Gicharu’s life has been a series of taking chances. He almost quit school in Class Six, repeated several classes, but eventually secured admission to train as a teacher at Kenyatta University.

However, he didn’t keep his teaching job for long. He was fired for going abroad for further studies without permission.

Today, Gicharu is among the first Kenyans to establish a private university, an empire he built from a two-roomed college in Thika.

I’m curious to know how this business mogul expanded a small college with a few old computers into one of the most modern private universities in Kenya and beyond.

Gicharu explains that he had the opportunity to study abroad through a scholarship, and he was struck by the number of Kenyans seeking education overseas. “In 1995, I won a British Council scholarship to study entrepreneurship at Cranfield University in the United Kingdom. During my stay, I was concerned about the many Kenyan youths who travelled in search of educational opportunities, often struggling to pay tuition fees and sometimes dropping out,” he says.

Eager to apply his skills, Gicharu approached Equity Bank and secured Sh20,000, which he used to establish the Thika Vocational Computer Literacy Center. He rented two rooms and was fortunate to receive a donation of 10 computers from an NGO, recognizing his passion for imparting skills to young people. He also enlisted volunteers eager to use their ICT skills.

“It was in 1996, and information technology was just becoming mainstream in education,” says Gicharu, adding that he had previously started a pharmacy, which didn’t make money. “You need passion, focus, and knowledge about what you’re doing. This is a valuable lesson I’ve learned,” he states. From a vocational center, the institution evolved into a commercial college offering management and computer training programs in 2002.

Later that year, Mt. Kenya University was granted full registration approval as an institution of higher learning. In 2006, the Commission for Higher Education validated and approved Mt. Kenya University’s request to collaborate with JKUAT to offer both diplomas and degrees. Gicharu says that in 2009, his dream of building a reputable university in Africa began when the institute was authorized to establish a fully-fledged privately funded university, with Thika Institute of Technology as its precursor.

The university received its charter two years ago and was renamed Mt. Kenya University. Today, it is a multi-billion institution. “Looking back, the biggest achievement I’ve made is being able to change the lives of young people. It’s not about the money,” he says.

Mt. Kenya University is constructing a Sh900 million science and technology center along the Thika-Garissa Road. He named the institution Mt. Kenya University because, “When you are at the top of a mountain, you have the whole world below you.” The focus now is on research and collaboration with industries.