Always see yourself as self-employed to succeed in any career, says HF Group CEO

• HF Group CEO Robert Kibaara credited his career success to a "self-employed" mentality, highlighting his dedication to adding value beyond his job responsibilities through continuous learning endeavors.
• Mr. Kibaara emphasized the importance of prudent financial management and recommended investing in assets that increase in value and utilizing loans with caution
• He emphasized the significance of volunteering, fostering connections, and generating "use value" as crucial to personal and professional development, indicating they unlock doors to opportunities that enhance a person's potential to earn more.

Robert Muyela, a business journalist at Weden News.co.ke, brings over nine years of expertise in digital media, providing in-depth analysis of economic trends in Kenya and around the globe.

Robert Kibaara, CEO of HF Group, has shared his remarkable career history and valuable insights on professional development and personal finance management.

With over 30 years of experience in the banking industry, Kibaara described how his professional approach has been characterized by viewing himself as "self-employed," regardless of his position or job title, during a recent Twitter Space discussion hosted by Abojani Investment.

Kibaara pointed out that this method has contributed significantly to his achievements, and could similarly serve as a key component for others aspiring to advance in their respective domains.

“Regardless of who oversees your compensation, it's essential to maintain an entrepreneurial mindset. By viewing yourself as your own business, you constantly strive to create value, uninhibited by your job title,” said Kibaara, who started his career at Barclays Bank as a clerical officer at 21.

His remarkable career has been defined by an unwavering passion for growth and professional development. Initially, he started his academic journey at Kenyatta University, pursuing a degree in education, but he later shifted his focus to the field of banking. This strategic career change ultimately led him to hold influential positions, such as Retail Director at NIC Bank and Retail and Business Banking Executive at National Bank of Kenya.

He has also held leadership positions at Standard Chartered Bank and Barclays Bank of Kenya, amassing valuable expertise across the finance, retail banking, and executive management sectors.

He holds an MBA from Strathmore University, a Bachelor's degree in Banking and Finance from the University of Sunderland in the UK, and a postgraduate diploma from the Chartered Institute of Marketing.

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In addition to professional guidance, Kibaara offered insights into managing finances. His philosophy focuses on investing in assets that gain value over time, and on steering clear of purchases that deplete resources, while also utilizing the power of time for accelerated growth.

He emphasized the need to put first things first when it comes to appreciating investments over depreciating ones. He used the example of car purchasing, a common goal of many middle-class Kenyans, but one that has led many down the dangerous path of uncertain debt.

We've all learned the hard way. Owning a car isn't cost-free; its value plummets and maintenance costs accumulate from day one. By contrast, directing that money into appreciating assets and taking the time to understand investments can make your wealth grow without you having to lift a finger.

Time is a crucial factor in amassing wealth, especially when properly managed regarding income versus spending.

“When time works in your favor, it can lead to substantial returns if you're wise with your finances,” he said, adding that overspending can neutralize the benefits of time's increasing value.

Kibaara also highlighted the significance of using debt in a thoughtful and strategic manner.

He cautions that debt should only be considered when it facilitates growth and provides a reasonable return on investment, highlighting the significance of carefully evaluating the purpose behind incurring any financial commitments,

Volunteering and building breadth

Another crucial factor contributing to his success, as Kibaara emphasized, is volunteering for tasks that go beyond his formal job responsibilities. Initially in his career, he actively sought out additional responsibilities and made the conscious effort to take on more duties.

In previous positions, I would ask my direct supervisor if I could assume responsibility for a team during a colleague's leave. Despite going above and beyond my formal job duties, I always recalled that 'you don't get something for nothing.' Every positive undertaking and diligent effort will eventually bear fruit and yield multiple returns in the long run.

Kibaara attributes this proactive approach to expanding his expertise to encompass both "breadth" and "depth", skills that are critical for professional growth.

“Depth is understanding numerous topics, whereas breadth is understanding a topic thoroughly. In one’s profession, you require both. You can achieve breadth by dedicating time to tasks outside of your primary responsibilities,” he suggested.

Creating networks and increasing "use value"

Kibaara emphasized the significance of establishing professional connections and incorporating "use value" in each role.

“Most individuals just fulfill the minimum requirements of their job. To achieve success, one needs to put in more effort than they receive in return, as the world compensates those who contribute more than they consume. Everyone will receive their due reward for every hard work and dedication they put in," he pointed out, emphasizing the principle of reciprocity in career development.

He clarified that adding value goes beyond mere task execution—it's about making a significant, favourable impression on one's organization.

“Up to this point: how can I make a significant contribution? Most people perform simply what they are assigned to do, whereas individuals who achieve success make a deliberate effort to add value. We term this ‘use value,’” he explained.

Kibaara has also placed great importance on establishing relationships and connections.

He dedicates a significant portion of his time to constructing networks and fostering relationships that can subsequently benefit both the company and himself, he observed. These connections, he claimed, frequently open up new avenues and lead to promising opportunities.

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He compared money with a river - always flowing.

“It's not the size of the financial resources at your disposal that matters; it's how you utilize them effectively. Effective management of income is necessary for creating value for ourselves without jeopardizing our financial stability,” he said, explaining that wealth is not about generating more income, but about wisely allocating what is left after expenses.

Kibaara involves making deliberate financial choices, overseeing expenditures to maintain alignment with one's income, and making smart investments to ensure a secure future.

Investing in oneself

Kibaara's last piece of advice was about the importance of investing in oneself.

"You become the largest shareholder in the company called 'You.' If I invest in myself and improve, I can provide more value to the company and, naturally, enhance my earning potential," he specified, underlining the significance of lifelong learning, reading, and personal development.

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