Geoffrey Kiragu, A Real Estate Developer Who Grew His Business Without Taking Loans.

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As Geoffrey Kiragu puts it, “business is a learning curve,” this statement has driven him to try so many businesses from farming, retail, and real estate. 

Most youths always shy away from farming, but for Geoffrey Kiragu, farming is such a gold mine, he embarked on the entrepreneurial journey starting from farming as the core venture.

He grew vegetables such as onions and tomatoes and supplied them to retail stores, hotels, and restaurants.

He later quit farming and ventured into the retail business, and he opened his first supermarket in Nairobi’s Roysambu area using the proceeds from farming. 

Business was good, so he opened other branches, his supermarkets sold household items.

Kiragu said, “I opened my first supermarket with the profits I had gotten from farming. The results at first were great. I then proceeded to open more stores and business was good.”

Geoffrey Kiragu
{Mr Geoffrey Kiragu: Photo Courtesy}

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But as we all know, too fast expansion has often led to the collapse of several giant retail stores, starting with Uchumi, Nakumart, Tuskys, and now struggling Naivas supermarket.

His profit margins began to fall due to theft by employees, and he slowly ran out of business.

But as an entrepreneur, Geoffrey Kiragu decided to call it to quit before the business carved in. With some savings from his previous business, he started the Lesedi Group Ltd.

Lesedi Group Ltd is a real estate company that buys, sells, and develops property in Nairobi, Kiambu, Murang’a, Nakuru, and Machakos counties.

It is not easy to climb the property ladder without help from financial institutions. Kiragu, on the other hand, managed to do without a loan from the bank.

One best way to do this is to collaborate with investors, convincing them to make a deposit or make total payments.

Mr Geoffrey Kiragu noted that his passion for real estate made him venture into the highly competitive sector. It didn’t matter if he had the finances or not, and he knew this was it.

 He said, “I have always been passionate about real estate. I had a small piece of land that I had acquired in Muthaara, Kiambu. When I called it quits in retail business, I divided it into plots and sold them as I tried to bounce back.”

“Within a short time, I was able to sell off the plots, and that is how Lesedi Group Ltd was born.” 

The company has employed over 150 Kenyans and currently handles over 50 different projects across five counties.

He told Business Daily that he started his real estate journey with a single acre, which he subdivided into four plots of 50 by 100-meter square.

For Kiragu, it was not only about selling property; building the company to stability was much more critical. 

“I developed a strategy to plow back the profits and allowed myself to grow internally without asking for Loans from banks,” he said.

{Lesedi Group Ltd Founder Geoffrey Kiragu and Bonfire Adventure Simon Kabu: Photo Courtesy}

To stay ahead of the competition, Lesedi Group Ltd founder Geoffrey Kiragu developed a product that allows its customers to pay for registration and make a monthly instalment of as low as Ksh10,000.

Explaining the concept, head of product Mr Vincent Munderu told Business Daily, “To become a member, an individual only requires to pay a minimum deposit of Sh120,000 which can be paid either in 3, 6 or 12 months before the land is handed to the client and the remaining balance is cleared within 3 years.”

As the government works towards ensuring affordable houses, Mr Kiragu’s vision seems to be aligned with that of the government, as most of the company’s products have been tailored to suit low-income earners such as Mama Mboga, Boda Boda operators who earn a monthly income of as low as Sh30,000.

November was a good month for the company as Lesedi Developers and Lesedi Homes won the top enterprise award.

The company bagged two awards in two categories- The Company of the Year award, 2021, and The Young Entrepreneur Achievement Award — 2021, awarded to the director Mr Geoffery Kiragu.

{The Young Entrepreneur Achievement Award — 2021. Geoffrey Kiragu; Photo Courtesy}

“The National Business Leadership Awards is an initiative that targets acknowledging and celebrating Kenyan business leaders and enterprises that use excellent sustainability strategies to “make a true impact on business, society, and the environment.”

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{A property listed by Lesedi Group Ltd: Photo Courtesy}

We will keep you up to date with the latest news from Geoffrey Kiragu and the movers and shakers in the property world.

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