Mike Mlomba- Taking the Bold Step, Building Mega Enterprises.

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Mike Mlomba
Source: www.nyasatimes.com

From humble beginnings, Mike Mlomba has courageously moved the stakes to become one of Africa’s leading billionaires. As a student, Mlombwa struggled to keep himself in school from his meager savings. He was later able to purchase two second-hand cars in order to launch a vehicle rental company- a dream he has always nurtured.

Today, the Malawian business tycoon has offices in major cities across Malawi and a fleet of more than 70 rental vehicles, as he tells BBC African Dream series.

In 1997, at age 28, Mlombwa began his service with three second-hand cars. Soon, his venture tripled, opening doors to other opportunities. To expand his fleet and service, Mlombwa partnered with various car owners to use their vehicles for a 20% commission. And that was how [my business] took off. I make very good money.” He explains

Mike Mlomba
Source: timesmediamw.com

He used the profits to buy new vehicles and, as his business blossomed, he was able to receive a bank loan. “When they saw I was doing fine, banks came to me and said: ‘Okay, we can assist you now’, Mlombwa recounts.

Today his company owns a fleet of 80 vehicles and can be found at airports and hotels across the country.

While Mlombwa had always longed for an opportunity to pursue a degree in the university, he remains content and thankful for the huge opportunities that he has been given.

Mike Mlomba
Source: bbc.com

“I am happy to face challenges and I am happy I became an entrepreneur. And to be honest, I don’t see it as a regret that I did not finish my schooling, because now I can employ people with master’s degrees or whatever. They are assisting me here and there.”

Mlombwa currently seeks investment to double his fleet. He is also constructing a number of hotels, under the countrywide brand.

© 2016 – 2017, Lovelyn Okafor. All rights reserved.

2 COMMENTS

    • Thank you very much Thogi. We are glad that you were inspired by the post. Hope to still see you around. Have a productive March.

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