A Kenyan with a dream to create Africa’s largest investment brokerage

Joel Macharia, CEO and founder of Kenya-based online investment brokerage Abacus, is a true entrepreneur. His hard work and pioneering spirit were recognised in May 2016, when he was included in Forbes Africa’s 2016 30 Under 30 list.

Joel will now receive further recognition when he appears in the first episode of Chivas, Win the Right Way – a TV series that showcases African entrepreneurs who use business as a force for good.

The show celebrates those who build personal successes while also positively impacting their communities. Its host, Audu Maikori, a Nigerian entrepreneur, social activist, lawyer, public speaker and creative industry professional, calls this “profit with purpose”.

This isn’t the first initiative from Chivas in this area. In 2014, Chivas launched The Venture, a $1-million annual competition, to support and bring together the best young minds in communal development; young minds like Joel, who started managing people’s finances at the age of 19.

An avid inventor who built gadgets as a schoolboy, Joel is now set on building the largest pan-African investment brokerage. His goal is to grow Abacus’current investor database of around 4,000 to half a million within a few years, and he wants to see the systems that Abacus is building being used to build wealth for the disadvantaged and poor.

Joel has surrounded himself with staff who see this vision as clearly as he does.

“My understanding of business is that it has to have value, not just monetary value, but also the intrinsic value of making an impact. You need to build impact into your product, and your people need to believe that they are working for something that is greater than their paycheque,” says Joel.

As an entrepreneur, Joel has sage advice for others: “Be patient, it’s going to take longer than you think. Be prudent, it’s going to cost more than you think. And find support, you don’t know as much as you think.”

Through all of this, Joel keeps his perspective by focusing on what’s been done – not just what still needs doing.

For him, “winning the right way” is about the small achievements and the big milestones; it’s about the millionaires he’s set on creating; and it’s about the children who can’t afford their school fees and who benefit from a trust he’s set up.

In his own words: “For me, ‘winning the right way’ is about living, and working, ethically.”

Related Content

COVID-19: How the pandemic is accelerating the digitalization of healthcare

The COVID-19 pandemic has caused huge disruptions in healthcare provision, highlighting the need to adopt and invest in digitalization. Dr. Wanjeri Millicent Loice, Director and Content Manager, Toto Health Kenya joins CNBC Africa for more.

AfDB’s Nnenna Nwabufo on how COVID-19 has impacted African economies

According to the African Development Bank’s revised African Economic Outlook, though the continent is expected to rebound next year; it could lose a quarter of a trillion dollars in economic output for the rest of this year and 2021. Nnenna Nwabufo, Acting Director-General of East Africa Regional Office at the AfDB joins CNBC Africa for more.

COVID-19: Rwandan bound containers held at Mombasa port

Over 2000 Rwanda bound containers of goods have been held in Kenya and Tanzania due to the delays in cargo clearance. According to Rwanda's Private Sector Federation, the move contradicts a comprehensive regional COVID-19 approach that was agreed on in dealing with the challenges of the virus on the cross-border businesses between member states. Economic Analyst, Ted Kaberuka joins CNBC Africa for more.

Atlas Mara’s Maurice Toroitich on the major drivers behind strong Q1 results

A more efficient approach, frugal is what some experts have called it, now that is the strategy taken by BPR Atlas Mara Rwanda Managing Director, Maurice Toroitich and it seems to be reaping results, well at least in the short run. He joins CNBC Africa for a look at the bank’s first quarter results.

Subscribe to our newsletter

Sign up for free newsletters and get more CNBC AFRICA delivered to your inbox

More from CNBC Africa

Africa’s CDC urges more COVID-19 tests, masks, as continent’s cases top 500,000

NAIROBI (Reuters) - African countries urgently need to scale up coronavirus testing and the use of face masks, a regional disease control...

City Lodge faces resistance to its R1.2bn rights issue. Here’s why

In the wake of COVID-19 many listed companies have offered rights issues in order to raise capital during these trying times, but according to Oasis Asset Management there are good and bad equity issuances. Joining CNBC Africa for more is Adam Ebrahim, CEO of Oasis Asset Management.

Sacred sites blast exposes Australia’s laws skewed to mining

But the bill comes at a time when public outrage over the caves’ destruction, fuelled by the Black Lives Matter movement, could yield different outcomes from a legal structure that has almost always greenlighted mining development at the expense of cultural sites.

Malawi appoints Wilson Banda as new central bank governor

BLANTYRE (Reuters) - Malawi’s new President Lazarus Chakwera has appointed Wilson Banda, a former central bank official, as its new governor, a...

Partner Content

Maktech’s Godwin Makyao: Now Is A Time of Entrepreneurial Opportunity in East Africa

As an executive decision-maker in both the telecommunications and tourism industries, Godwin Makyao could not have experienced a more diverse set of...

Sanlam launches urgent job-preservation initiative in response to COVID-19

Sanlam Investments is responding to the COVID-19 pandemic through large-scale support of the recovery of South African companies, from small enterprises to...

Trending Now

Uganda’s central bank may cap commercial bank interest rates

KAMPALA (Reuters) - Uganda’s central Bank (BoU) has threatened to cap the interest that commercial banks can charge borrowers, after the industry...

WHO sets up panel to review handling of COVID-19 pandemic

The announcement follows strong criticism by U.S. President Donald Trump’s administration, which accused the WHO of being “China-centric”, and U.S. formal notification on Tuesday that it was withdrawing from the U.N. agency in a year’s time.

One of the biggest name in the British High Street takes a heavy blow

LONDON (Reuters) - British health and beauty retailer Boots plans to cut 4,000 jobs and close 48 optician stores, in the latest...

African-born Elon Musk says he is very close to making cars that can drive themselves.

“I remain confident that we will have the basic functionality for level 5 autonomy complete this year.”
- Advertisement -