At 25, Hastings Kapoli Banda has achieved what most in the country achieve in their late forties – or even fifties. In a petite space of five years, Banda has evolved from a mere blank DVD seller to a multimillionaire into the car business industry.
“I bought my first car in 2010,” he says, “with savings from my blank DVD business.”
He was 20 then. About five years later today, Banda is a proud owner of 9 cars and 19 employees.
“After I bought my first car I wanted to expand my business and my immediate idea was to venture into the taxi business,” he said.
He added: “It has been a successful venture. The one car I invested has been able to bring me 8 more cars which are all sound and running.”
The last born in a family of five, Banda also owns a shop in Mzuzu City’s Luwinga Township, pool tables planted in pubs around the same township, and has lately opened his firm Be Kapoli.mw – which is playing agent role in importing cars from Japan to Malawi.
“I want to grow beyond this. I want to be a complete entrepreneur and businessman,” he says with tons of confidence of a young man determined to hit it big.
He said his Be Kapoli.mw is becoming “a household name” as far as the importation of second-hand vehicles is concerned.
“In 2014 alone, we brought in about 13 vehicles. That was big for an establishment that only started earlier in the same year.”
He hoped for even greater prospects in 2015.
“No one who wants to import a second-hand vehicle should despair. Our charges are sincere and original. In fact, I went into this business because I realized how other agents were exploiting their customers,” he revealed.
Banda, who says is indebted to gospel artist Ethel Kamwendo’s husband Blessings Banda, said Malawian youths “must not be over dependent on government if they want to hit it big.
“There is always YEDEF, and so many projects for the youths but those cannot cater for all of us. We need to start our own fortunes, and manage them. That’s the way to.”
Banda also advised Malawian youths on frugal spending.
“As young people, we must learn to save and invest,” he said.
Malawi has one of the highest youth unemployment rates in Southern Africa despite the fact that they cater for more than 60 per cent of Malawi’s 17 million population.
The Youth Enterprise Development Fund (YEDEF) has been in the limelight for the past ten years with visibly scanty results.Follow and Subscribe Nyasa TV :