Myke Rabar is the CEO of Home Boyz Entertainment PLC, an entertainment company that specializes in event management, media and production, esports and PR services.
In 2020, the company made headlines after becoming the first entertainment company in Kenya to be listed on NSE.
Interestingly, Rabar noted that Home Boyz was not set up as a business, and for a while, they ran the company without a business plan.
Here is the story as told by WoK.
Background
Rabar is a meteorologist by training having pursued a course in metrology in the United Kingdom (UK).
He is the brains behind Home Boyz Entertainment PLC, worth over Ksh 300 million, that he established in the late 1990s.
The businessman put his money into the entertainment industry to break the notion that it is not a serious business.
In an interview with Business Daily, Rabar noted that although establishing the business was ‘accidental’, he had a long-term vision.
“In many cases, it has always been a side hustle for players. Never the core business. For us, entertainment is more important than anything else. We create employment, provide a service and generate wealth
“Part of this journey has been to distil perception on what we do as an institution. We evolved as we tried to fill certain gaps in the market. This is what made us into what we are,” he said.
Rabar said that they did not run the company with a business plan and they only formalised their operations before the NSE listing.
“Ours has been organic growth. There are competitors within each of these products. But few companies are offering turnkey solutions because it is involving and expensive,” he stated.
NSE listing
Homeboyz listed 63.2 million shares on the Growth Enterprise Market Segment (GEMS) of NSE, becoming the first entertainment firm to join the bourse.
Rabar noted that the exercise will enable them to compare the firm’s value against local and global benchmarks.
“Listing will allow us to participate in corporate finance transactions such as mergers and acquisitions as well as allow us to access affordable capital through our capital markets,” he said.
The millionaire businessman noted that the listing has helped the company attract new clients and partnerships.
The development, he explained, was because most companies want to work with known entities to reduce the risk of loosing money.
“Through partnerships, we are currently serving more external markets than the local one. We produce content for some major broadcasters in the world
“They want a credible institution they can take to court if you fail to deliver; a business with a sense of longevity and history,’’ Rabar said.
Home Boyz Entertainment PLC
Established in 1995, Home Boyz Entertainment PLC offering services in event management, media and production, esports and PR services.
They provide sound, lighting, set design, special effects and LED video walls for all event types including weddings, catwalk fashion shows and festivals.
The company has eight namely HBTV, VAT, MTA, Homeboyz Aktivate, Fixxit and Tikiti.
Others are Swype, Homeboyz Foundation, Y-Hub and Homeboyz Rugby Football Club.
Rabar holds 35.612 million shares worth Ksh 165.95 million while his wife, Rose Nyaguthii, holds 27.568 million shares valued at Ksh 128.47 million.
Rabar’s brother, DJ John, holds 20,000 shares worth Ksh 93,200. Nyaguthii serves as the finance and administration director while DJ John is an executive director.
The two brothers also are also directors at Homeboyz Radio Limited which is a separate entity from what has joined the NSE.
Rabar and his brother each have 245 ordinary shares in Homeboyz Radio while Radio Africa Limited has 510 shares.
