Kenya has seen several successful forex traders who have made significant profits. Some notable names include Patrick Mahinge, Sylvia Muchai, and Edwin Kamau. Their expertise, knowledge of the market, and disciplined trading strategies have contributed to their success in the forex industry.
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After studying journalism at Egerton University and achieving a lower-division degree, Patrick Mahinge initially sought work as a journalist, approaching many news outlets and newspapers. He then moved on to foreign exchange trading in 2014 and, with experience, quickly became proficient.
He trades the major currency pairs via the Octa broker, using the H4 timeframe.
Ultimately, he launched Kenya Forex Firm to provide other traders with guidance, training, and portfolio management. His expertise makes Mahinge a sought-after public speaker at various events.
He is also a serial webpreneur, running multiple blogging websites monetized from Amazon affiliate programs and adverts. Such sites are cheap to build and host and are typically “niched down”, attracting people searching for the answer to a particular issue they have.
His approach to forex integrates fundamental analysis and technical analysis. He emphasizes the importance of a trading strategy and risk management mechanism; he never does a trade without a stop order to protect against severe losses.
Thanks to his prominence in the Kenyan (and broader African) forex scene, he has been featured on CNBC Africa and Business Daily Africa.
Net worth of Patrick Mahinge
Patrick Mahinge has an estimated net worth of $750,000.
Edwin Kamau came from humble beginnings in the Kahawa West township of Nairobi. Starting at nine, he began a snack-selling business at his school and, in his teens, moved on to buying and selling cell phones.
He also works as a banker. Although still seen as a novice, Kamau’s rise in trading in the last few years has been phenomenal.
At 23, he had already accumulated ; his net worth three years later is unknown. However, he is, without a doubt,
Kamau founded G-Force Forex Institute with his mentor, Patrick Mahinge, to train other traders; Kamau is CEO of the Institute.
Net worth of Edwin Kamau
Edwin Kamau’s estimated net worth is around $2.3 million what makes him the richest forex trader in Kenya.
Sylvia Muchai earned a bachelor’s degree in finance through Kenyatta University.
In 2014, Sylvia Muchai invested her first $250 in forex and lost all of it within the next five days. However, this did not put her off from trading foreign currencies.
As many teachers demanded exorbitant payments (as high as $2500) to instruct her, Muchai taught herself by reading numerous books and attending online and real-world trading seminars. She grew her skills further by attending the BabyPips Trading Academy.
She used many demo accounts to practice trading theory before venturing into the real thing again.
She established Sylvia’s Traders Lounge to educate other beginner traders about how to be successful in the field. Her experiences with unethical teachers have fueled her passion for helping beginners.
Muchai stresses the importance of keeping a cool head, unclouded by emotion. She analyses the market carefully before making trades.
Her net worth is unknown, but guesstimates place it over the million-dollar mark.
Net worth of Sylvia Muchai
Estimated net worth of Sylvia Muchai is over $1 million.
Paul Mugenda also came from humble beginnings, selling tea leaves to commuters at the Githurai 45 bus terminal and offering insurance for several companies across Kenya.
He also began trading in 2014, when he was in his twenties, using a loan of $300 as seed capital for the venture. Unfortunately, he lost all of this money.
His company, Paris FX Kenya, educates aspirant traders on practicing this form of trading. Additionally, traders can rely on his business’ expertise for excellent advice on current trading.
Mentorship seminars for the youth allow him to guide future traders and other business people.
Mugenda is also active on Instagram, with a large following who aspire to his luxurious lifestyle.
Net worth of Paul Mugenda
Although his net worth is unknown, estimates place Mugenda’s net worth at approximately $1,000,000.
Born in Kiambu in 1981, Ken Githaiga studied for a business degree. He qualified in accounting and is still working as an accountant.
Looking to supplement his income, Githaiga started looking for opportunities.
From online research, Githaiga determined that forex was most suited to his skills and temperament.
Accordingly, he set about learning how to trade forex.
Websites offering free education in currency trading, from the basic principles to the nitty-gritty details, formed a solid foundation for his learning; Githaiga supplemented this by watching YouTube videos on the subject.
Most importantly, he sought out traders who were already prominent in the Kenyan retail forex industry and learned from them. He began trading in 2008, making him a mentor figure to the younger generation of forex traders in Kenya.
Paying forward the debt he owes his mentors, Githaiga also uses Jay Forex Academy, a company he founded in 2020, to teach up-and-coming traders his methods.
Adding another revenue stream to his income, Githaiga is also an introducing broker for HF Markets Hotforex, the trading platform he prefers to use.
Net worth of Ken Githaiga
While his net worth is unknown, it is estimated at around $960,000.
Silah Obegi graduated from Moi University with a business management degree and started his finance career. He moved to forex in 2012 and gradually accumulated knowledge and money from currency trading.
He went on to found the Nairobi School of Forex, teaching others his trading techniques and automation.
Obegi is the founder and CEO of Meta Capital, a leading forex broker in Kenya with sophisticated tools available for traders. His experience in several aspects of finance has given him an edge over many other traders in terms of being able to automate trading effectively.
Over the years, institutional and individual traders have achieved great success with Obegi’s automation trading strategies, accumulating more than $40 million altogether.
He uses strategies such as never risking more than 2% of his account on a single trade and maintaining discipline. He passes these skills on to anyone who trains under him.
In the last decade, he has established five companies. Meta Capital and the others are in banking, fintech, blockchain, and real estate.
He prefers to trade via EGM Securities. Despite his success, his net worth is obscure.
Silah Obegi is known for his philanthropic donations to numerous charities.
Although young, Vincent Nyagaka has successfully traded forex for over six years. He started in the field because his regular income was insufficient—persistence in teaching himself from online education sites paid off with excellent earnings.
Nowadays, Nyagaka teaches other aspiring forex traders through his website, Benstride.
Understanding that even a small fee could be too big a barrier to entry for many people, he provides a free course for novice traders. A premium course in advanced trading techniques is available for those looking for more, serving as another income stream for Nyagaka.
He is still the youngest forex trader in Kenya to become a millionaire and featured in Forbes Africa’s 30 under 30 list in 2016.
Ester Mofrey is a Kenyan influencer who earns well from trading foreign currency and is passionate about using her platform to educate others about forex.
She creates YouTube content that raises people’s awareness of forex and the skills needed to succeed. Her net worth is estimated at some $790,000.
Joshua Matumo graduated from Strathmore University in 2009, specializing in trading currencies and commodities. He moved on to become a highly successful trader and trading teacher as a member of the Bloomberg Community.
Matumo is known for his excellence in analyzing the market; his proficiency in risk management complements this, producing a trader with an uncanny ability to invest in high-yielding trades while avoiding massive losses.
Matumo founded Fourth Street Consultants and is also the managing director of this company.