Manoj Shah is one of those reclusive Kenyan billionaires who have successfully built their businesses from scratch.
He is the founder and owner of Osho Chemicals, a company that makes and distributes agrochemicals, fertilizers, animal health products, insecticides, and farm equipment.
In an interview with Business Daily, Manoj said that although he can’t exactly tell the secret behind his success, it takes more than hard work to reach the heights he has reached.
This is his journey as told by WoK:
Manoj grew up in Olkalou, an area whose main economic activity is farming.
Growing up, he witnessed how agriculture impacted the lives of many people in terms of food security and employment.
He therefore saw the large market gap that existed in the supply of agrochemicals.
Manoj started Osho Chemicals Industries, which is based in Nairobi, about 30 years ago after quitting his job. He used his savings of ksh 2 million to start the business.
His venture into business was purely a matter of survival, and he had no intentions of scaling up at first.
Initially, Osho Chemicals dealt with the importation of pre-packaged chemicals and supplied them to government institutions and other clients in the textile industry.
However, Manoj soon encountered various challenges that made him rethink his line of focus.
Because imports were regulated by the Ministry of Commerce, Osho had to acquire a Foreign Exchange Allocation Licence.
The alternative was to import the products through third parties, which was very expensive. Also, working with government institutions attracted a lot of bureaucracy, leading to delays.
To overcome these problems, Manoj joined organizations such as the Kenya Private Sector Alliance [KEPSA] to advocate for the liberalization of imports.
He also diversified Osho’s businesses and began supplying chemicals to pharmaceuticals and tanning industries.
The business soon became stable, and Manoj shifted his mindset from merely surviving to building a long-lasting business that would have an impact.
Around that time, the Kenyan government liberalized the importation process, and it became easier for Manoj to import raw materials from China and India.
From four employees, Osho Chemicals slowly grew to become a regional employer, with more than 600 employees in Kenya, Tanzania, Uganda, Zambia, and Malawi.
Its annual turnover also grew from 60 million to 3 billion in the Kenyan market and over Sh 5 billion in the regional market.
Manoj attributed his growth to well-established structures that have made it easy to hire and manage the right employees.
“The other thing is to keep the focus alive. Once you get into business, it is easy to have other diverse interests and projects which may take away from what you set out to do,” he said.
He added that it is important to have a vision and to learn from what other successful businesses in your industry are doing.
However, Osho Chemicas has also had its fair share of setbacks.
For instance, the business tried to venture into the Ethiopian market 25 years ago, but the venture failed spectacularly.
In terms of succession, Manoj stated that his business would not be automatically taken over by his family in case of his demise.
“We have invested heavily in the Goal-Based Performance Appraisal Management System,” he said.
The governance and compliance structures he has put in place have bolstered his clarity about succession, ensuring that the company’s leadership is merit-based, led by a board of qualified professionals.
Looking back, he says that he is proud of how Osho Chemicals has shaped the industry, one of which is through its Osho Training Academy.
The academy, which has partnered with local universities, offers industry-related skills to industry professionals.
Manuj hopes that wth time, Osho Chemicals will penetrate all corners of the African market.