Kelvin Tibakanya, a young Tanzanian entrepreneur and founder of Finguard, is at the helm of a company that uses cutting edge technology and modern trends of doing business to provide effective financial solutions to a growing number of clients.
“Finguard provides financial and business consultancy services for investors, startup founders, and business owners of all sizes, across various industries, ranging from real estate to commerce, manufacturing, agriculture, mining and hospitality among others,” says Kelvin.
“We help individuals and companies make the best investment decisions financially through capital raising and financing, tax consultancy and planning, business planning, registration and licensing, market entry strategies, agribusiness advisory and much more.
“The company currently operates virtually, and even though the whole team is just made up of three people, they are all based in Dar es Salaam, where our headquarters are,” he adds.
From Freelancing to Entrepreneurship
Kelvin started off his journey as a freelancer offering virtual assistance and financial analysis services and successfully worked with many clients and companies on both short and long-term projects.
“Eventually, I earned a Top-Rated Freelancer badge on the platform, which inspired me to keep going. Although starting my own company had always been a dream of mine, someone who really pushed me to do it was my uncle.
“He is the founder of one of the most successful cybersecurity companies in Tanzania, and he always insisted on the importance of having a brand instead of working personally. That is what inspired me to start Finguard, shifting my freelancing activities into a proper business,” says Kevin.
Career Choices
Born and raised in Mwanza, Tanzania, Kelvin says his mother played a huge role by not only taking care of him but also mentoring him and steering him in the proper direction as he was growing up.
“Unlike most people around me, I never had a single dream of who I wanted to be when I grew up. This kept changing. At primary school, I wanted to be a doctor so badly, and I think it was because of my peers. But once I got to secondary school, I fell in love with business subjects.
“I promised myself that I would take business-related subjects in high school, and I did. I chose Economics, Geography, and Mathematics for High School, and that is when I fell in love with Economics so much that you could not tell me anything else.
“I decided to study for a BSc in Economics and Finance, and that is where things changed again. I fell in love with Finance. Now, that is what I want to do for the rest of my career. As a financial and business consultant, the choices I made earlier have helped me so much to do what I am capable of doing today,” explains Kelvin.
Overcoming Challenges
One of Kelvin’s biggest challenges as an entrepreneur was having to deal with government bureaucracy.
“There are so many procedures and compliance issues when running a company that it can get discouraging. I remember that even before I officially started operating my company, I already had a 900,000 TZS penalty.
“So, you can imagine how tough things can get. Another challenge is building a team that truly shares your vision and matches your energy. It is often said that a great founder is not just the one who makes profits but the one who builds a strong team.
“Through all of the many challenges that we have faced as a company, one thing I have learned is that finding the right people who share your vision is an important key to achieving success,” says Kelvin.
“Finguard has been operating for less than a year, so most of our projects are still underway, but hopefully, we will have many success stories in the near future. One of the biggest challenges in Africa is access to funding for business ideas and projects. That is one of our biggest commitments at Finguard—working tirelessly to find partners globally who can finance these ideas. Hopefully, we will make a great impact soon,” Kelvin adds.
‘Knowledge is Capital’
As a successful entrepreneur in the making, Kelvin is also eager to impart the knowledge and experience he has gained over the years to emerging businesspeople eager to make it big in Tanzania.
“Consultancy is a unique industry because your knowledge is your capital. You have to invest heavily in learning, understand things in detail, and gain real experience by working on different projects,” he says.
“You also need to build strong connections because people are the ones you will be serving. And most importantly, you have to utilize technology in everything you do. It has made things so much easier for me. The good thing is that starting a consulting firm is not too expensive,” he adds.
“One of the biggest lessons I have learned as an entrepreneur is that we all need people. Not just anyone, but the right people, those who share our vision, match our energy, and understand what we are trying to build.
“There is no way one can do everything alone. Wherever you are, look for people who share your vision. Together, you can build something bigger. I always remember a Swahili saying ‘If you want to go fast, go alone. If you want to go far, go with others.’ People are treasures,” Kelvin concludes.
