Simon Wafubwa is the founder and CEO of Enwealth Financial Services which offers a Money Market Fund and an insurance brokerage arm.
He quit his job in 2011 to establish the company which now controls Ksh 85 billion in pension assets under administration.
The advisory firm also provides other services including pension, insurance, training and business consulting services.
Here is Wafubwa’s story as told by WoK.
According to a report on The Standard, Wafubwa established Enwealth Financial Services in 2011 after quitting his job.
He used his Ksh 300,000 pension payout to set up the company that has now diversified to offer among other financial services Enwealth Capital.
In an interview, Wafubwa mentioned that he purposely quit employment, although after some intense considerations.
“After much introspection, I came up with my own purpose in life which was value-adding to humanity through compassion for God’s glory
“I then developed a personal strategic plan as progress in life has to be intentional and I had to be clear about the future I was walking into,” he said.
He then did his weaknesses and strengths analysis which he says it helped him tell his current and future potential.
“Having been clear in terms of purpose and mission of life, I did a strengths, weaknesses, opportunities, and threats (SWOT) analysis
“This is a framework that evaluates a company’s or individual’s current status and helps develop strategic planning,” Wafubwa said.
Wafubwa mentioned that after doing the SWOT analysis, he went into actualizing it which included resigning from his job.
He also told of an interaction with a CEO friend who disapproved his decision to quit his job to establish his company.
“Initially, I wanted to convert the second bedroom in my house where the house girl was sleeping with my daughter to an office,” Wafubwa said.
“One evening a friend CEO of a big government agency called me, I told him I wanted to start a consultancy, training and even farming. He told me you are very stupid. Unfortunately, in our society, people have been affirmed to their own self-destruction.”
However, despite the disapproval, Wafubwas went ahead to rent an office and started actualizing his dream.
“With my Sh300,000 partial pension access, I went to Vision Plaza to rent an office. I bought a desk and cabinet at Mtindwa
“Despite the progress we’ve made, I still retain this desk to be able to remind me that my value is not in material things but in the impact of lives,” he said.
Over the years, the company grew from having two employees to have a staff base of over 70 people across three countries.
“We’ve done a lot of impact and research in growing the brand just to get credibility and we’ve partnered with Strathmore University over the years
“We used it to refine process flaws and generate training content. We also use it for marketing and brand value positioning and collaboration in the sector for policy shaping with stakeholders,” Wafubwa explained.