When you think of bastions of financial literacy and planning, Mulamwah has to be your man. Look, I get it, Kenyan celebrities aren’t usually the class of people I would advise you to take any financial lessons unless it is a masterclass of what not to do. Unless we are discussing the comedian.
The reason I say this is that I have been following the little nuggets of wisdom he shares about his life that feel need to be highlighted. He is truly a smart cookie and understands the most basic law of money: spend less than you make. He so famously revealed that he lives in a house whose rent is 9,000 Kshs per month.
However, Mulamwah has gone beyond understanding the bare minimum law of money and has built on it to the point that he has already silently begun building himself not just a tidy nest but also a potential empire -in the transport industry.
You see, while he has been living frugally, the comedian has decided to put the coins he earns to good use and has invested heavily in boda-bodas. Yup, those crotch-rockets ridden by some of the most indisciplined members of our society are a crucial means of transportation in some parts of Kenya such as Western Kenya.
So what Mulamwah did is to buy 10 boda bodas that he has leased out to some young men who in turn pay him a pre-agreed upon amount every day as they ply the Kitale area. It is actually a pretty simple contract between him and the riders and it allows them to earn as much money as they can while still remaining a profitable endeavour for the owner of the bike.
And from this arrangement, Mulamwah has made enough money to replace a bike that was stolen from him back in 2020 and he went on to taunt the thief of the bike saying:
”Ndio hii. Nimenunua ingine, hii ni 100K. Mkuje mwibe tena. Raundi hii mtakula nyasi. Ninunue nduthi ingine tena mkuje msanye? Na pale Kitale msichome mwizi kabla mniite, mimi mpaka nikue.”
At the end of the day, Mulamwah is making hay while the sun is shining. And he serves as a role model for young Kenyans looking to get into business but are caught up in their day-to-day jobs as he is all too familiar with that struggle as he’s a clinical officer shared his success so he can encourage others to also follow in his footsteps and hazard the risk. It clearly paid off for him as he estimated his networth to be at 4 million shillings!
“Today I want to Inspire someone; Leo am going to buy my first piece of land from Comdy. We I started hakuna mtu alikuwa anabelieve, watu watakutusi lakini to listen to people just set your mind right and go for it. Don’t listen to what people are saying, don’t compete with anybody, move with you pace. The little money you get; save and invest coz you don’t know when you will get money next… so don’t waste the money, wacha na Raha hasizaidii just invest.”
And if you too are involved in a hustle, I want to introduce you to a partner who can help you grow your business to the next level.
That’s right, Co-op Bank is offering a credit service called the Business Plus Loan which is tailored to help you achieve your target of growing your business beyond what it currently sits at. If you have a Co-op Bank account, all you have to do is get on the MCo-opCash App and follow the instructions to find out whether you’re eligible for the Business Plan Loan.