Peter Nduati: Entrepreneur Who Made His First Million In 20s, Went On To Build Ksh4 Billion Business Empire

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Peter Nduati: Entrepreneur Who Made His First Million In 20s, Went On To Build Ksh4 Billion Business Empire
Peter Nduati Photocredit/Businessdaily

Peter Nduati is the founder and Chairman of Pine Creek Records and True Blaq Group. He made headlines early this year when Resolution Insurance, a company he founded in 2002, collapsed with Ksh6.5 billion in client cash, insurance claims, and creditor funds after its shareholders failed to recapitalise the business.

The 54 year old has produced 2,000 songs, 40 albums and built an empire worth over Ksh 4 billion. His success has seen him named the Forbes Africa Entrepreneur of the Year Award in 2013.

Here is his story as told by WoK.

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Background

Peter Nduati is an established businessman with a footprint in almost all sectors of the economy including music, events, manufacturing, insurance, branding, emergency medical services, security services, real estate and liquor distribution.

The tycoon made his first million when he was only 24 years old from a side hustle but wasted the money partying. His journey began in the Dagoretti area where he grew up and developed a passion in music. He used to sing in the school choir and later in a band.

He later moved to Punjabi University in India to pursue insurance where he also enrolled for a three-month sound production course. He acquired invaluable technical skills in music production. He moved to Scotland for his master’s degree and the United Kingdom where he was certified as a chartered insurer. He jetted back to the country to establish his empire.

The Journey

After arriving in Kenya, he identified a huge market gap which he decided to capitalize on.

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“When I returned home, there wasn’t much interest in local music. Western and Lingala music were the most preferred genres then. But from 2000, interest in Kenyan music began to grow and that’s when I got involved, starting out as an artist manager where I worked with a number of artists including Mr. Lenny, Digde and Nikki,” he told Nation in a past interview.

As Kenyans began appreciating local music, Nduati saw a bigger opportunity to make more money aside from being an artist manager. In 2006, he launched his music label dubbed Pine Creek Records which offers 360 degree services including writing music, recording, producing, marketing and distribution.

Since its inception, Nduati has produced over 40 albums and 2,000 songs. The music label went on to sign popular artists including 13 year old Amani G in 2018 in a two-year deal worth Ksh2.5 million.

In 2020, Nduati was involved in a project dubbed ‘Pass the Mic’ which he invested over Ksh20 million.

“The novelty project is called Pass the Mic. It revolves around Kenyan African music of yester years that I would wish my children would understand. These are songs that make me nostalgic, having grown up in the era they were composed. This is the reason I acquired the rights to re-interpret and re-wrote Les Wanyika’s music. I got 30 songs, mashed up Kenyan top artists and producers to contemporize the songs; fusing them to modern afro beats sound, but still maintaining their originality. Anyone listening to the new song has to identify with the original song,” he told Nation.

Some of the top artists involved in the project include Arrow Boy, Amos & Josh, Hart the Band, afro fusion singer Atemi Oyungu and songwriter Chris Adwar.

Horses

Away from the music industry, Nduati’s hobby is horse riding which he has turned into a business. He owns 10 horses at his Kenana farm stable and has employed jockeys who often compete at Ngong Racecourse. At one time, one of the horses named ‘Silverstone Air’ was sold for Ksh3.7 million. He is also the Chairman and Board member of the marketing committee at the Jockey Club of Kenya.

“We go through cycles of when you can buy or sell horses. When the horses are no longer racing, we sell them to riding schools,” he said.

Success

Nduati has managed to build a conglomerate worth over Ksh 4 billion. He a philanthropist and travels the world for leisure. He religiously follows the IRB Sevens Series spending millions sleeping in high end five-star hotels.

In 2013, the humble tycoon won the Forbes Africa Entrepreneur of the Year Award. He lives with his family in Karen South in a Mega mansion sitting in a prime piece of land valued at over Ksh160 million.

He bought his first house while aged 31 years old for Ksh 15 million. He now owns several mansions spread across different estates in Nairobi, Mauritius and the United Kingdom. Nduati plans to spend the rest of his life traveling across the seven continents with his family of one wife and four children.

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