NSE Has Been My Biggest Mistake- Former KNCCI Chairman Kiprono Kittony
Kiprono Kittony, a well-known figure in Kenya’s business landscape, has made significant contributions to both the private sector and public business advocacy.
As the former National Chairman of the Kenya National Chamber of Commerce and Industry (KNCCI) and the current CEO of Capital Airtime Limited, Kittony has played a pivotal role in driving business growth and shaping policy for the economic development of the country.
Reflecting on Wealth Creation and Investment Strategies
In a recent interview with BiznaKenya, now in his early 50s, Kittony candidly discussed some lessons he has learned over the years.
Reflecting on his financial experiences, he admitted that one of his key missteps was a lack of patience with his investments in the Nairobi Securities Exchange (NSE).
“My biggest money mistake so far has been on the NSE. I had bought a good chunk of Safaricom shares. However, I sold them off when they dipped. I should have held on for they soon began to gain, and I had to buy them back at a much higher cost. This has taught me the value of taking a long-term view in money matters. For instance, you cannot afford to abandon resilience and a long-term view if you want to stand any chance of growing wealth.” he said.
Bouncing Back
Kittony also opened up on his biggest loss saying it came in 1995 that left him with vital lessons on life and bouncing back.
“My biggest loss came in 1995 when our horticultural export business went under. We had exported horticultural produce to Britain and France under Fresh Produce Limited but didn’t get paid. Our company collapsed and I had to start all over again,” he said in the interview.
“The failure taught me that life gives second chances! In the same vein, it is when you have failed and are trying to start from scratch that you know who your true friends really are! I also learned that there is a big premium in having a good name in the market and being truthful with both yourself and your creditors.”
With his extensive experience in business and leadership, Kiprono Kittony offered valuable insights to the younger generation on the debate between entrepreneurship and employment as paths to wealth creation and why some businesses fail as others prosper.
“The best way to make money or get rich is through entrepreneurship,” he said.
“Employment will hardly ever make you as wealthy. For instance, take a look at the newly released 2017 Forbes list of the wealthiest people in the world today. Can you spot any employees in the pack? Wealth exclusively lies in business ownership!”
He added:
“From my experience, I have come to see that the real secret to making it in business lies in how a business idea or business model is executed. You may have the best laid out plans for your business but if you don’t execute them well, there is no doubt that your efforts will be put asunder. I have also observed that when it comes to business, many women will tend to get it wrong by playing second fiddle and failing to wrestle their rightful space.”
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