What really can be said about Kevin Mulei? He is a businessman’s businessman. God levelled with him on that. You wouldn’t tell by looking at him, his is a common story of grit and gusto, grr and myrrh, the magic trick in plain sight, the way Renaissance painters hid in their paintings their faces among a crowd. Talking to him one can’t help but wonder whether when they looked at their paintings, they saw their own faces first. Maybe not for Mulei, who remains in the shadows as his companies thrive, a master at concealing his personal thoughts until he can’t. Until today.

KEV THE CEO QUESTIONS

Q. Congratulations, 500k customers in less than 5 months. How has that been like?

Kev "First, a big thank you to our 500K plus #Payless customers and many others for believing in us. It’s been a tough but very exciting journey with tremendous support from very many people & partners."

Q. The financial services on account of it needing huge investments, is famously touted as the playground for big boys. What specifically inspired your decision to set foot in it?

Kev "Any industry with giants will always have massive opportunities. Most giants tend to use manipulation card with pricing or abuse their dominance with instruments of power but the best way to win the customer is by inspiring them and not manipulating them. When you read the story of David & Goliath and dive deeper, you will realize that Goliath may have been blind! So, with or without the giants, we should never ever give an excuse for not trying because we don’t create the future, we only attract it because the future is guaranteed."

Q. Looking back over your career, were there particular moments that pushed you to where you are today?

Kev "The moment I discovered my purpose, everything changed. Purpose is like a magnet—it pulls you in or repels you. Purpose redefines you in every season. So, when you discover your purpose and engage your passion, impact must be felt. And just to be clear, purpose is the reason for existence while passion is intense desire to do something."

Q. How has running a company/companies changed you?

Kev "Running different companies & brands teaches you to be patient, persistent and to stay positive. Most of the successful brands take years to be fruitful. You also learn that it’s ok to fail, it’s ok to make mistakes and it’s ok to start again a game that you can only learn when you are running a company. It’s important to point out that, to achieve some goals, you need to be ready to be lonely—to be rejected again and again—to be bankrupt and to be disappointed by many but, you must refuse to turn back until you fulfil your goal."

Q. What was the worst hire/investment decision you ever made?

Kev "I think I have made big losses. I have made probably more loses than profit in my life so far. I have tried so many ideas, concepts and lost a lot of money but learnt valuable lessons that money can’t buy."

Q. What is your business philosophy around building the brand of you?

Kev "With our Shaping Culture philosophy, we build brands with impact and innovate around customer needs and wants. For a young person out there, your philosophy must be solid—don’t just try making everything logical—some things defy logic and you can’t just explain why. Most of our brands including #PAYLESS defy logic but we are sure we shall fulfil our vision which is to increase cashless GDP (Gross Domestic Product) in Africa."

Q. Knowing what you know now, would you consider yourself smart or lucky?

Kev "Let’s just say, I wake up every day knowing that I have an opportunity to be smarter but for sure I am blessed! I am favoured. Favour is perhaps my greatest advantage. People may say I am spiritualizing the answer but that’s just the fact. And I truly believe in this."

Q. What personal touch do you bring to your endeavours?

Kev "DISRUPTION. I am a disruptor. I just don’t see things differently; I see things different. I am fearless and I surround myself with stronger and smarter people to deliver the dreams and support the vision directly and beyond."

Q. What have you learned about yourself from being a CEO?

Kev "Leadership & serving people is the main goal for any CEO. Invest time in building relationships with your team, clients, and partners. Strong relationships both internally and externally are the foundations of a good CEO as well as future facing strategic thinking and decision making."

Q. How do you define success now?

Kev "For me, success is the ability to turn a vision into reality and create a positive, lasting impact. Success is a blend of personal growth, family growth and business growth that touch & changes lives in your generation. Also, success is the power to commit to something, the ability to set a goal and start."

#PAYLESS QUESTIONS

Q. Are there any specific trends in the Fintech industry that you have noticed emerging recently?

Kev "The trends are very many especially with GenZ. I call the trends, PHYGITAL Trends—the elements blending and balancing Digital & Physical. They are leaving an indelible mark on the cultural landscape, from reshaping the workplace, embracing unique fashion and prioritising self-improvement every day. The companies that grab their attention will WIN them over but must inspire them every day."

Q. What do you think are the biggest Fintech technology trends right now, and how are they shaping the industry?

Kev "From AI, blockchain, open banking, embedded finance and some of the top trends in the fintech industry.  These trends will have a big impact in content monetization & beyond. For sure monetizing areas like social media platforms, media and entertainment—call it the convergence of a social media and streaming platform that give the choice to watch TV shows, shorter videos and listen to your favourite music. I believe in the next couple of years, there’s going to be a killer platform that will aggregate all the above and have hyper-personalized platform for the customer. The ticket to engaging GenZ is through DISRUPTION that has visually stunning content and nostalgia marketing. It’s a game of audience monetization especially for brands that will target GenZ."

Q. What are the top trends in Fintech today when it comes to technologies? Which of them do you think will have the most impact on the future of Fintech?

Kev "SuperApps have the potential to create some of the biggest companies in the world just by adding several services they offer and expanding to different markets. So, we will have no choice but to use several SuperApps on a daily. I believe that the SuperApp that will integrate meaningful and purposeful diverse services in one place and provide seamless experience, will increases the app’s stickiness. A super app is a mobile or web app that combines multiple services into one platform. So instead of having separate apps for email, banking, shopping, transportation and food delivery, it's all in one app."

Q. Are you a trend follower or trendsetter?

Kev "I am the guy that sets the trends, and I love it. The difference between the two is both the follower & the trend setter DREAM but the followers don’t take risks—trendsetters are risk takers. Who are you? That’s the question you have to answer yourself."

Q. What role do you see Artificial Intelligence as a trend in the Fintech industry playing in the future of Fintech?

Kev "First off, AI has a different meaning to me—Africa Intelligence that calls us to unlock every possible economic opportunity for the African people. It’s a game of digital economy. It’s a game of democratizing technology. It’s a game of Africa by Africa that will ensure no African is left behind. AI will help us to DIGITIZE & DIVERSIFY the different parts of the economy resulting to more jobs for the African youth."

Q. What do you think the future of payments looks like?

Kev "The future of payments will continue to shift and push for cashless payments and even greater innovations in the digital services ecosystem a space that #Payless is keen to dominate. Digital mobile wallets, digital currencies, and open banking systems are expected to dominate the industry. A sharper focus on convenience, simplicity and affordability is key for future payments while overcoming the trust barrier."

PERSONAL QUESTIONS

Q. What makes you, you?

Kev "First, it’s the understanding of my calling. The understanding of my seasons. The understanding of my power & my source – which is aligned with God’s will. That is what makes me who I am."

Q. If you could teach the world one thing, what would it be?

Kev "Believe in yourself and just start. Without believing in yourself, you can’t start and if you don’t start, nothing would ever happen! The energy to believe and not to believe is the same, so JUST BELIEVE in yourself."

Q. What would you do differently if you could do it all over again?

Kev "I have only one regret in my whole life—Not having BOLD & AMBITIOUS goals early in my life. If I started all over again, I would have very audacious, bold, daring goals and I would disrupt very many industries as soon as possible!"

Q. Which season of your life did you have the most growth?

Kev "For me growth is relative—I have had growth in all my seasons—even in my toughest seasons, I still had growth. Growth begins with a shift in mindset. Our thoughts shape our actions, and our actions shape our reality. When we change the way we think, we unlock new possibilities that pave the way for personal success. Transformation starts from within, and the mind is the foundation for all meaningful change. Nothing changes until you mind changes."

Q. What price have you had to pay for your ambition?

Kev "Whoa. I’ll choose my words carefully. Everything I have attained is by God’s Grace including the vision and my ambitions however, one has to put in the hours and for me as an Afriprenuer like you called it—it’s like chewing glass every single day but the difference between Kevin Mulei and the rest of the world is the level of risk & sacrifice that we take for each opportunity that we encounter every day."

Q. What’s an experience that significantly shaped who you are today?

Kev "The day you realize that there is nothing to fear than fear itself and that life cannot threaten you anymore, you start to do things that will shock you and shock the world."

Q. For your career, what matters more than you thought it would?

Kev "The power of our imagination. Our imaginations are full of fears, and we allow the imagination to govern us which means, we don’t live our life to the fullest. It all starts with Thinking BIG. Thinking DANGEROUSLY, I know it sounds weird but that’s exactly what it is. When you start to think Big, the universe responds differently not forgetting that greatest tragedy is life without purpose. Purpose gives us true success."

About #Payless Africa

#Payless Africa is a Peer-to-Peer (P2P) savings and financial planning platform launched in May 2024. The platform empowers users to manage their finances efficiently and save on transaction fees through technology-driven solutions. For more information, visit www.#Paylessafrica.com.