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The Phoenix of Wall Street: John Gachora’s Lessons In Resilience For Entrepreneurs and Investors

BY Steve Biko Wafula · December 18, 2024 02:12 pm

KEY POINTS

Today, NCBA Group is a masterclass in diversification—a bank that has its hands in investment banking, digital banking, and insurance, among other ventures. “There are times something fails,” Gachora explained, “but another thing will work.” This resilience, this willingness to spread risk, is what keeps businesses and individuals afloat in turbulent times.

KEY TAKEAWAYS

Gachora began with a somber memory—one that shaped him as a man and as an investor. The year was 2007. At the time, he was living the high-flying life of Wall Street, deeply entrenched in the American financial markets. That year, VMWare, a leading cloud computing company, went public, and its stock soared.

For a young, ambitious Gachora, the opportunity was irresistible. He poured everything—his entire savings—into the stock. It was a move that felt right at the time, a calculated risk any confident investor might take. But as life so often proves, the best-laid plans can crumble in an instant.

There’s a certain kind of magic that comes from a life lived through storms. A magic born not of invincibility but of resilience—the art of rising from setbacks, time and time again. In the world of Kenyan business and investment, few embody this spirit as vividly as John Gachora, the CEO of NCBA Group. But before he became the face of one of Kenya’s most formidable financial institutions, Gachora’s journey was marked by both triumph and tragedy—the kind of hard-earned wisdom every entrepreneur and investor would do well to heed.

On the morning of November 23, 2024, Gachora stood before an eager crowd at the Abojani Economic Empowerment Conference, held at the Radisson Blu in Upper Hill. The air buzzed with anticipation. Attendees—many aspiring investors themselves—had come to hear not just stories of success but hard truths about what it takes to survive in an unforgiving economic landscape. And John Gachora, in his typically candid manner, delivered.

Read Also: NCBA Group’s Stellar Growth: The Unique Leadership Of John Gachora And His Team Of Innovative Minds

The Burden of Loss

Gachora began with a somber memory—one that shaped him as a man and as an investor. The year was 2007. At the time, he was living the high-flying life of Wall Street, deeply entrenched in the American financial markets. That year, VMWare, a leading cloud computing company, went public, and its stock soared.

For a young, ambitious Gachora, the opportunity was irresistible. He poured everything—his entire savings—into the stock. It was a move that felt right at the time, a calculated risk any confident investor might take. But as life so often proves, the best-laid plans can crumble in an instant.

It was then that tragedy struck. Gachora’s father passed away. The sudden loss compelled him to return to Kenya for burial arrangements, and as he stepped away from the financial world for just a few days, the markets shifted.

“When it rains, it pours,” Gachora remarked to the room, his voice heavy with the weight of memory.

In his absence, VMWare’s stock price plummeted. By the time he returned to the United States, what had been his life’s savings was now worth half as much. “I left Kenya hoping to return to the US a rich man,” he said, shaking his head. “Instead, I came back to find I’d lost half of everything I had.”

The lesson here was clear: never put all your eggs in one basket. No matter how promising an investment might seem, diversification is key. It’s a principle Gachora would carry with him, shaping his approach not just to personal investments but to the NCBA Group itself.

From Loss to Strategy

Today, NCBA Group is a masterclass in diversification—a bank that has its hands in investment banking, digital banking, and insurance, among other ventures. “There are times something fails,” Gachora explained, “but another thing will work.” This resilience, this willingness to spread risk, is what keeps businesses and individuals afloat in turbulent times.

Take NCBA’s recent acquisition of AIG Kenya Insurance Company, for example. The move wasn’t just about growth—it was about stability. Gachora’s past taught him that success doesn’t come from putting everything on a single bet. It comes from building layers of security, each one ready to hold up the others if one falters.

Read Also: Secure Your Future: NCBA MD, John Gachora Shares His Golden Nuggets On How To Secure Your Future Financially At The Abojani 4th Economic Conference

The Real Estate Trap

But diversification alone isn’t enough, Gachora explained. Resilience also requires a healthy respect for risk. To drive this lesson home, he shared another personal story—this one from 2004, when he dabbled in real estate.

At the time, Gachora had invested in rental properties in Newark, New Jersey. The real estate market was booming, and he saw a golden opportunity. For a while, things went well, but as is often the case, life had other plans.

When Gachora decided to sell one particular property, he found a buyer and signed a contract with a 90-day closing period. It should have been straightforward. But as the days ticked by, a nightmare unfolded. A tenant, who had not paid rent for months, filed a complaint claiming her child had developed lead poisoning because of the paint used in the house.

“To make matters worse,” Gachora admitted, “the insurance on the house had expired. Since I was selling the property, I hadn’t bothered to renew it.”

The words hung in the air. Every entrepreneur in the room knew the feeling of an oversight coming back to haunt them.

The resulting legal battle cost Gachora more than $70,000—a devastating blow at the time. Lawyers, penalties, and settlement fees piled up, all because he had failed to protect his asset. “Imagine having insurance that costs a few hundred dollars,” he said, “and losing seventy thousand because you didn’t renew it.”

The lesson? Always protect yourself. Insurance may seem like an unnecessary cost when times are good, but it’s a lifeline when things go wrong. “Your investments are your empire,” Gachora told the audience. “And an empire needs walls.”

Read Also: Government Should Shield The Banking Sector From More Taxation – John Gachora

The Road to Redemption

It’s easy to look at someone like John Gachora and see only the success. It’s tempting to believe that his rise to the helm of NCBA Group was paved with nothing but smooth roads. But the truth, as he so openly shared, is far messier. His journey has been marked by risk, loss, and failure—but also by perseverance, learning, and growth.

Gachora’s life is a testament to the idea that failure isn’t the opposite of success—it’s part of it. The financial markets that halved his savings taught him to diversify. The real estate debacle that cost him tens of thousands taught him to safeguard his investments. And every loss along the way shaped the leader he is today—a leader who now steers one of Kenya’s largest banks toward sustainable, diversified growth.

For the entrepreneurs and investors in the room that day, the message was clear. Success isn’t about avoiding mistakes. It’s about learning from them. It’s about staying the course when things fall apart, picking up the pieces, and building again.

As the conference came to a close, attendees left with more than just investment advice. They left with a story—a story of resilience, risk, and redemption. John Gachora’s story.

To the entrepreneur staring down failure, to the investor who’s just taken a hit, Gachora’s words are a beacon: When it rains, it pours. But storms don’t last forever—and neither do setbacks.

Read Also: Secure Your Future: NCBA MD, John Gachora Shares His Golden Nuggets On How To Secure Your Future Financially At The Abojani 4th Economic Conference

Steve Biko is the CEO OF Soko Directory and the founder of Hidalgo Group of Companies. Steve is currently developing his career in law, finance, entrepreneurship and digital consultancy; and has been implementing consultancy assignments for client organizations comprising of trainings besides capacity building in entrepreneurial matters. He can be reached on: +254 20 510 1124 or Email: info@sokodirectory.com

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