Equity Bank Chief Executive Director Mary Wangari Wamae has revealed that her first salary as a fresh graduate was just KSh 5,000. Mary Wangari Wamae is Equity Bank’s chief executive director.Wamae says she cared for kids with KSh 5k salary Given her position at the giant bank, it is hard to imagine that she once struggled to budget for KSh 5,000, her salary at her first job in a law firm. “I had two kids I was taking care of with that money,” she said of the salary she had in 1991 at the 3rd Abojani Economic Empowerment Conference.During that time, the lady who once served as Equity’s Director of Strategy, Legal Services and Company Secretary wore clothes sourced from the famous Gikomba Market and was never shy about taking public transport where people were made to stand holding a metal rod. Wamae starts own law firm Wamae persevered for some time, and in 1995, she took the bold step of quitting employment to start her firm. “I practised at my law firm for eight years,” said Wamae, a Master’s degree in Leading Innovation and Change holder from York St. John University, UK, and a Bachelor of Laws degree from the University of Nairobi. With an eye to her future, the indefatigable corporate bigwig joined the Law Society of Kenya Sacco, where she diligently saved her money. Equity Bank’s director buys first car, plot “I started saving more as the money came in, and eventually, I bought my first car. I stepped up my contributions to the financial institution and eventually bought my first plot on Ngong Road,” shared Wamae, who is also an alumna if the University of Nairobi. “In 2003 I built my own house without taking a loan anywhere and it took me about three years,” shared the lawyer. Wamae did not stop there; she bought a house and then sold her first house to invest in other assets. As she shared her story, Wamae was emphatic that if one gets their priorities wrong, they will not get their planning right. Wamae’s single mum urges her to dream big The accomplished lawyer shared that although she came from a humble single-mother home, she did not let it hold her back. “It doesn’t matter where you were born, my mum was a single mum with no assets, he urged me to work hard to get out of my situation,” said the author of a book called The Village Girl. When speaking to TUKO.co.ke, Wamae urged women not to shy away from debt and also to get income-generating projects. She also encouraged them to own assets, as they appreciate with time. Wamae highlighted cases where people approached the bank with innovative ideas and got a boost worth millions. She urged people who want to start businesses to get innovative ideas and approach financial institutions for help. Meru man builds house for mother with first salary In another story, teacher Safari Bornface Tuluba did what many sons wish for; building a new house for their mothers. He did so with his first salary, savings, and a few loans from friends, a project that lasted two years since groundbreaking. Safari explained that he prioritised his mother’s house over his own to thank her for enduring numerous challenges to ensure he was educated at university.
by Susan Mwenesi