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Lessons from Michuki, Karume economic legacies

Updated Tuesday, February 28th 2012 at 00:00 GMT +3

There is evidence that change is a great catalyst in entrepreneurship.

For Michuki there was more change, he migrated from rural to urban area, worked on different jobs and even studied abroad.

Early life experiences from growing up in polygamous homes to poverty interacted with changes in political and economic landscapes to bring out the entrepreneurial potential of the two men.

Paradoxically, poverty is no longer a motivator, with teachers in high schools complaining that children from poor background are least motivated to improve their lives.

There are those who will argue that the two men were in the right place at the right time. They were young adults when independence came; the population was low, opportunities plenty.

Others could argue the two benefited from rent seeking, taking advantage of too much government control on the economy. The previous statement is not 100 per cent false. Enough on their secret to success. What are the lessons for the younger generation?

First, we are living in a different period in history; competition is more severe for jobs and entrepreneurial opportunities.

National level

The popularity of devolution has a lot to do with diminishing economic and political opportunities at national level. There is a deep belief that such opportunities will emerge with devolution. Let us wait. The current generation will have to be more focused, work harder and build strong brands.

Two, their shall always be rewards for the determined and the patient. The two men waited for a long period of time to accumulate their wealth. Corruption is about trying to accumulate wealth overnight.

Three, the next generation of wealth creators will make their money using different models from Njenga’s and Michuki’s. They have to rely less on physical capital like land but more on intellectual capital. What is Microsoft or Google’s greatest asset?

Four, by starting enterprises, the two planted the seeds of economic growth. We need more of such entrepreneurs to create jobs, and uplift our standards of living.

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