25.6 C
Nairobi
Wednesday, May 15, 2024
HomeWealthBalminder Singh Sokhi: Kenyan Tycoon Who Auctioned His Multi-Million Empire Properties on...

Balminder Singh Sokhi: Kenyan Tycoon Who Auctioned His Multi-Million Empire Properties on Facebook After Going Broke

Balminder Singh Sochi, an Indian tycoon, took a unique path in Kenya that diverged from the fate of most foreigners who invested in the country.

Initially finding success in the engineering industry through his ownership of Kisumu Engineering Works Limited, Sochi catered to the needs of sugar mills and machinery in the vibrant Nyanza and Western regions, solidifying his status as a renowned tycoon in the area.

Additionally, he operated a garage specializing in reconditioning motor vehicle engines, attracting clientele from all corners of the country.

However, adversity struck when the sugar industry faced financial difficulties, leading to delayed payments and ultimately forcing Sochi to close down his engineering firm.

Despite this setback, his garage remained open but struggled due to fierce competition from the Japanese used engines market, leaving the Indian tycoon with few customers.

Faced with mounting challenges and feeling despondent, Balminder Singh Sochi turned to social media as a last resort, auctioning off his two multi-million empires.

However, this marked not the end but a new beginning of his inspiring story in Kenya.

Reinventing himself, Sochi embarked on a fresh venture in Nyabeda village, situated in Gem, Siaya County.

Recognizing the untapped potential, he chose to cultivate chili on a portion of his leased 10-acre land.

Although a mechanical engineer by profession, Singh took the leap into chili farming for export after receiving encouragement from a friend in the UK who had seen his online auction.

“At this time, I was in the process of selling my machines. A friend in the UK saw on Facebook that I was selling them. He convinced me to venture into chili farming for export,” he shared in a past interview.

With the necessary export permits from the Kenya Plant Health Inspectorate Service (Kephis) and Horticultural Crops Directorate, Singh began his chili farming journey.

He procured seeds and sought assistance from a Naivasha-based company to germinate them into seedlings.

The seedlings were brought to his farm in Siaya after about 35 days, and they were planted sometime in June 2021, after a month of land preparation.

To ensure efficient water management, Singh opted for a drip irrigation system, collecting water from a nearby spring and pumping it into tanks for distribution to the plants.

Moreover, he employed integrated management methods for pest and disease control, setting up blue, yellow, and white sticky traps throughout the farm to curb aphids, thrips, and whiteflies.

“Kephis is very strict on the issue of plant safety for the export crop. Haphazard use of pesticides is discouraged, that’s why we have employed four people to scout for pests and diseases on the farm daily,” he added.

Hard work and good farm practices paid off, as Singh enjoyed his first chili harvest in September 2021, yielding between 1,000kg and 1,500kg of chili per week.

With his commitment to quality and sustainable practices, he anticipated harvesting the crop for up to 18 months.

Excitingly, Singh was among the farmers who celebrated the export of their fresh produce through the Kisumu International Airport.

“I have paid through the nose to export the chilies from Kisumu to the UK. Managing the quality and temperatures from the farm and the road to JKIA is not a cheap venture,” he acknowledged.