Japhet Ruto, a journalist with TUKO.co.ke, has more than eight years of experience in finance, business, and technology, providing detailed analysis of economic trends in Kenya and globally.

Duracoat, the flagship product of Basco Paints, has become a household name thanks to Peter Marangi, its brand ambassador.

More than 45 years ago, Bipin Shah, the founder and current director of operations, received a KSh 6,500 loan from a close friend, which started the paint company's path to becoming a multibillion-shilling firm.

Shah's initial business using the loan he received was selling foam glue to carpenters in Ngara, Nairobi.

The businessman narrated how he started from scratch after facing financial challenges, which prevented him from furthering his education after secondary school.

"I was raised in a very modest household. Financial limitations prevented me from continuing my studies after completing my secondary education. Using the money I borrowed from my friend, I began manufacturing carpenters' glue. I just wanted a job that could allow me to support myself," Shah told Business Daily.

To supplement his glue product, Shah expanded into producing and marketing wood preservatives and turpentine, with the help of a single employee he had hired.

The profits held steady for several years, but by 1984, he was forced to broaden his product line once more as other businesspeople began to enter the market.

One of his brothers, Kamlesh Shah, who is currently the managing director of Basco, helped him start the paint manufacturing company. He used to assist him in running the company after school.

They ventured into the paint industry with KSh 500,000 saved from the first business and funding from two local banks.

"We began with economy paint, catering to people who were looking for a product that was affordable," he revealed.

Since they were a small business then, he said they made the decision not to compete with the market leaders.

While his nephew Mital Shah serves as the company's director of exports, Bipin's older brother Anil Shah serves as both chairman and director of finance.

The two brothers engaged contractors and persuaded them to try the new paint brand, which helped their new "economy" paint gain recognition.

Currently, Basco Paints provides customers with a diverse selection of paints in over 7,000 shades, produced at a factory in Embakasi that produces over nine million cans annually.

The company also manufactures other items, including tile adhesives, varnishes, wood coatings and primers.

In related news, many Kenyan companies have been in business for more than a century and have thousands of employees.

These include Jubilee Insurance, Bamburi Cement, East African Breweries Ltd and Kenya Commercial Bank (KCB).

For 127 years, KCB Group has provided banking services and recently recorded a KSh 61 billion profit.

Source: TUKO.co.ke