From Depending on Loans to Survive to Owning a Multi-Million Real Estate Company, How Fanaka CEO Did It
Most people tend to give up when they face hard times in their life, they fail to realize that, in every problem, there is an opportunity. Fanaka CEO Moses Muriithi explains how he did it.
Mutua William
Most people tend to give up when they face hard times in their life, they fail to realize that, in every problem, there is an opportunity. Many people never realize the potential on them until they find themselves in challenging times.
This was the case of Moses Muriithi who now is the CEO of Fanaka real estate. He was at campus when he realized the power on him. Most university students find themselves in a challenging life when they try to survive the harsh life on campus. This harsh life forces some of them to seek old jobs while others depend on loans like Higher Educational Loans Board (HELB) to survive. Fanaka real estate company CEO, Moses Muriithi was among those students who were surviving in the mercies of HELB while studying his engineering course at Kenyatta University.
However, due to the harshness of life and the rising cost of life at campus, Mr. Moses found the loan too little to sustain him and found himself looking at an alternative way to survive. With no time, he found himself in writing and data entry jobs, he didn’t know how to write but through determination, he managed to buy his first online writing account for Ksh 15,000 but after one week he realized the account was a scam because in that one week his account disappeared on the sky but he didn’t give up.
After that scam account, Moses Muriithi found himself working under experienced writers, which gave him sufficient experience in buying a new account. In this account, he managed to make at least Ksh 40,000 per month.
According to him, this account was not making enough money as he had been expecting but he used the little he was getting to buy other accounts worth 100,000 which were yielding good money. He used Ksh 40,000 amounts he was getting by just spending Ksh 10,000 and saving Ksh 30,000 and by the end of the year he managed to buy this account worth Ksh 100,000. By the end of school, by the Grace of God, he had three accounts and five writers under him with one making at least Ksh 140,000 per month.
With time his saving grew, and with that saving, he saw an opportunity along Kangundo Road of buying and selling land. This was a great opportunity because there was no company offering prime land or land near the road. When opportunity comes utilize it.
He decided to take up the opportunity and that's how Fanaka was born. He started the company opted to buy and sell prime land along Kangundo.
By last year, 2020, Fanaka Real Estate company had 20 employees and several projects handed over clients along with Kangundo road areas such as Kamulu, Joska, and Malaa to boast about.
Last year alone they handled six projects of at least 50 acres cumulatively. Hard work pays, today Fanaka is one of the leading companies selling and buying land in Kenya.
Moses Muriithi stated: “Success resulted from research, consistency, and honesty.”
"The biggest challenges come during the acquisition of property, in an industry full of cartels and conmen, Fanaka Real Estate has overcome the challenging by conducting proper due diligence and establishing real owners before acquiring property,” he added.
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