Financially Incorrect

In December 1982, Bharat Thakrar started Scanad with KES 11,000 after selling his Honda for KES 14,000. What began as a one man advertising agency grew into a listed Pan African business valued at KES 9 billion at its height. Along the way, he built multiple agencies to navigate client exclusivity, took over McCann's Kenyan business in 24 hours, secured an approximately US$18 million annual Airtel mandate across 18 countries and brought employees into the ownership of the business. This is the story of how Scanad was built, the commercial decisions behind its growth and the discipline required to scale a business across markets.
But building a successful company and retaining control of its future are two different challenges. Bharat reflects on bringing global partners into Scannad, taking the business public, the governance and ownership lessons he learned, and the events that led to him losing his leadership position. He also shares what he would negotiate differently today. In this episode of Financially Incorrect Business Edition, we unpack the money, people, partnerships and decisions behind one of Kenya's most consequential advertising businesses.
---------------------------------------------------------------------------------------------------------------------------------------Financially Incorrect Live Early Bird Tickets Still Available Get Yours Here: https://mookh.com/financiallyincorrec...Access all our links in one place: https://lnk.bio/Financially_Inc💹 Ready to start trading?🧑‍🏫 Learn how to trade: https://lnk.bio/fxpesa📲 Open a demo trading account: https://bit.ly/DemoAccountYT 📈 Start live trading: https://bit.ly/LiveAccountYT---------------------------------------------------------------------------------------------------------------------------------------Episode Chapters00:00:00 Intro + FI Live, 28 November
00:12:02 The Live TV Show That Hooked Him on Advertising
00:25:02 Hand-Counting 1,200 Surveys Got Him His First Real Job
00:44:54 Selling His Car to Start Scanad With KES 11,000
00:52:57 A £1,400 Trip to London That Beat 9 Agencies for KCB
00:57:19 "Money in the Bank Isn't Yours": His #1 Money Rule
01:01:47 Convincing Tanzania's Radio to Start Selling Ads
01:07:01 How Scanad Got Around "One Client Per Category"
01:10:19 Taking Over McCann Kenya in 24 Hours
01:17:56 20% of His Agency to Hire One Writer
01:28:16 Listing on the NSE and Giving 28 Staff Shares
01:43:39 How WPP Came In and One Email Won Airtel in 18 Countries
01:53:03 Only A-Levels, So He Hired 3 MBAs
02:02:05 His Side of the WPP Exit and the KES 1.2B Question
02:16:58 Masterclass: How Agencies Really Make Money

What does it take to rebuild financially, professionally and personally after a business you have invested everything in collapses?Kevin Mutiso's relationship with money and business started quite early. While still in Form Two, he was buying shares in Kenya Airways. By 19, he was managing investment portfolios for some of Kenya's top CEOs. He went on to build Alternative Circle, a fintech venture that secured US$1 million in investment, only to face technology challenges, fraud, mounting costs and the disruption of COVID-19.The consequences extended far beyond the business. Kevin had to sell his home, cars and personal belongings, confront significant debt and rebuild his life with the support of his family and wife. In this conversation, he opens up about the decisions, assumptions and business practices that contributed to the collapse, including the lessons he has carried into his next venture.Today, he is building Oye, a financial services platform designed around the needs of boda boda riders. What began with personal accident cover has expanded into fuel credit and merchant services, with a bigger ambition to help riders build financial resilience and eventually participate in the ownership of the business.---------------------------------------------------------------------------------------------------------------------------------------Financially Incorrect Live Early Bird Tickets Still Available Get Yours Here: https://mookh.com/financiallyincorrectlive/Access all our links in one place: https://lnk.bio/Financially_Inc💹 Ready to start trading?🧑‍🏫 Learn how to trade: https://lnk.bio/fxpesa📲 Open a demo trading account: https://bit.ly/DemoAccountYT 📈 Start live trading: https://bit.ly/LiveAccountYT---------------------------------------------------------------------------------------------------------------------------------------Episode Chapters00:00 – Introduction & Community Update00:00:26 – Expanding Audience Across Africa and Beyond00:00:44 – Upcoming Financially Incorrect Live Event Details00:01:39 – Early Life: Family Support and Dad’s Offer00:02:09 – Kevin Mutiso’s Background & Role in African Fintech00:02:32 – Early Entrepreneurship: Selling Secondhand Phones00:02:50 – Journey in Microfinance and Lending Insights00:03:15 – Challenges Building Alternative Circle00:04:01 – Supporting Family through Difficult Times00:04:52 – Kevin’s Podcast: Let the Cake Bake00:06:33 – Kevin’s Fintech Vision and Industry Impact00:08:21 – Creation and Evolution of Oye for Boda Riders00:54:42 – Securing Initial Investment for Alternative Circle01:02:39 – $1 Million Funding Deal and Its Significance01:57:58 – Scaling Oye: Business Growth and Future Plans

Jemima Kakizi was already earning from her art before she graduated from university. But when the momentum slowed after graduation, she had to rethink what building a career in the creative industry actually required. In 2017, she took an entry level internship despite feeling that she should have been further along. The experience exposed her to grant applications, open calls, partnerships and professional communication. Skills that extended beyond creating art would become relevant as she developed her work as an artist, curator and founder of Impundu Art Center, a creative space in Kigali that has required an estimated RWF 10 million to RWF 15 million investment.In this episode of Financially Incorrect Rwanda Edition, Jemima reflects on the financial realities of a creative career, from paying her university fees through commissioned artwork to navigating inconsistent income, experimenting with hand painted T shirts during COVID, and learning to charge for curation. She also explains why generating opportunities does not always translate into profit, how negotiation changed the way she approached creative work, and how her income is distributed across artistic work, curation and speaking. What does it take to move from being good at your craft to building a sustainable business around it?---------------------------------------------------------------------------------------------------------------------------------------Get Financially Incorrect Live Early Bird Tickets Here: https://mookh.com/financiallyincorrectlive/Access all our links in one place: https://lnk.bio/Financially_Inc💹 Ready to start trading?🧑‍🏫 Learn how to trade: https://lnk.bio/fxpesa📲 Open a demo trading account: https://bit.ly/DemoAccountYT 📈 Start live trading: https://bit.ly/LiveAccountYT---------------------------------------------------------------------------------------------------------------------------------------Episode Chapters00:00 Jemima Kakizi and the Business of Art29:52 The Financial Reality After Graduation36:15 Why She Took an Entry Level Internship39:47 The Skills She Learnt Beyond Art42:37 Art, Curation and Advocacy48:26 Why She Started Curating for Free51:52 The Hidden Costs of Curating58:25 Creating Value Does Not Guarantee Profit01:05:44 Learning to Negotiate Her Value

A hit song can make you famous. But does it make you wealthy?For Kenyan music legend Nameless, the answer depends on what happens after the song takes off. A major hit can transform an artist’s earning power, open up new markets and bring opportunities that once seemed out of reach. But a good song does not guarantee commercial success, and even a successful career can leave an artist vulnerable when demand slows down.In this episode of Financially Incorrect, Nameless breaks down the economics behind a career in music. He explains the difference between a good song, a hit and a mega hit, and why songs such as Ninanoki and Sinzia had a lasting impact on his career. He also reflects on the unpredictability of music income, the cost of producing music, and why the attention around a song can disappear much faster than it once did.Beyond the music, this is a conversation about building financial security in an industry where income is rarely guaranteed. Nameless shares the thinking behind his approach to investments, how he and Wahu prepare for quieter seasons, and what a period of declining demand taught him about the value of his work. He also opens up about the economics of putting on a concert, the possibility of selling his music catalogue, and why he believes he might have made more money as an architect.---------------------------------------------------------------------------------------------------------------------------------------Get Financially Incorrect Live Early Bird Tickets Here: https://mookh.com/financiallyincorrectlive/Access all our links in one place: https://lnk.bio/Financially_Inc💹 Ready to start trading?🧑‍🏫 Learn how to trade: https://lnk.bio/fxpesa📲 Open a demo trading account: https://bit.ly/DemoAccountYT 📈 Start live trading: https://bit.ly/LiveAccountYT---------------------------------------------------------------------------------------------------------------------------------------Episode Chapters00:00 Introduction: Nameless and the business of music02:30 Growing up learning to live within your means07:00 From a KSh 4,700 salary to music12:00 The first car and early money decisions17:00 How Ninanoki changed his career23:00 The difference between a hit and a mega hit29:00 How Sinzia opened up new markets35:00 Why a hit song does not guarantee wealth41:00 Making money beyond music47:00 Building investments for the quiet seasons53:00 The real economics of putting on a concert59:00 Why ticket prices can make or break an event01:05:00 When the music industry stopped calling01:10:00 The health scare that changed his priorities01:15:00 How brand partnerships became another income stream01:20:00 Could architecture have made him more money?01:25:00 The problem with music royalties in Kenya01:30:00 Would he sell his music catalogue for KSh 300 million?01:35:00 How AI could change the value of music01:40:00 Why live performance may matter more01:44:00 Reinvention, legacy and the next chapter

Doreen Natukunda Opio spent nearly eight years trying to rebuild her livelihood after losing her first business. From selling T-shirts and household items to experimenting with handcrafted art, she struggled to find her footing until COVID-19 opened an unexpected opportunity. Using leftover wood offcuts and the power of social media, Dorin built Art Kadowaz into a creative studio serving clients across East Africa. But growth came with expensive machinery, rising production costs and a major equipment failure that nearly brought the business to a standstill.In this Financially Incorrect Uganda Edition, Dorin shares the realities of turning creativity into a profitable business, investing UGX 53 million in machinery and running a company that supports her family, even though she and her husband don't draw formal salaries.------------------------------------------------------------------------------------------------------------------------------------------------------Access all our links in one place: https://lnk.bio/Financially_Inc💹 Ready to start trading?🧑‍🏫 Learn how to trade: https://lnk.bio/fxpesa📲 Open a demo trading account: https://bit.ly/DemoAccountYT 📈 Start live trading: https://bit.ly/LiveAccountYT------------------------------------------------------------------------------------------------------------------------------------------------------Episode Chapters00:00 Introduction 02:45 Meet Doreen Natukunda05:55 Growing Up in a Family Business09:57 Starting Her First Business18:22 Losing Her Business & Starting Over22:00 Motherhood & Financial Setbacks28:15 Eight Years of Finding Her Way Back31:25 How COVID Changed Everything35:54 Building Art Kadoras Through Social Media40:19 Turning Wood Offcuts Into Profit45:01 Scaling Production & Investing in Machinery52:51 Landing a Major International Contract57:24 Growing the Business & Finding Customers01:08:34 Rising Costs & the UGX 53M Machine Crisis01:17:45 Financial Success & Running a Business Without a Salary