Peter Nduati
Peter Nduati (@PeterNduati) is the Founder and CEO of Resolution Group, a company that runs Resolution Insurance Kenya and Tanzania, IAA Resolution Uganda and Speed Resolution in South Sudan. He founded the Group initially as Resolution Health East Africa in 2002.
Peter is a Chartered Insurer and holds a Master’s Degree in Insurance and has spent the last 24 years in the Insurance industry. Since 2006, he has owned and managed Pine Creek Records that has produced music and managed diverse artistes like Nikii, Mr.Lenny, Atemi, Didge, Anto Neo-Soul, amongst others. Pine Creek recently signed Jaya and Webi. They also run Live dimensions a live music concert that is held once a month and showcases local talent.
Peter considers himself an eclectic entrepreneur and he won the Forbes Africa Entrepreneur of the year 2013. He is involved either as a founder, anchor shareholder and investor in Security services “ Absolute Security, Manufacturing- Consumer Benchmark Ltd, Private Equity- Redwood Capital and Real Estate- Brown Oak Holdings. Apart from Entrepreneurship, his other passions are Rugby (former player and Chair of Impala RFC and Director of Kenya Rugby) and Mentorship (Chair of Board of Advisors of Aiesec in Daystar University and Greenhorn Mentorship). Peter is a fellow of the Aspen Institute for Global leaders and African Leadership Institute.
1. What was your first phone?
Siemens S10
2. What do you prefer? Facebook or Twitter? Why?
Twitter. It allows my clients to have access to me, unrestricted and unfiltered.
3. Where do you see yourself in 5 years?
Still CEO of Resolution Group which should be a publicly listed firm if things go according to plan.
4. Any question for us? We’ll publish our answer as well
Do you think Americans really made it to the moon? If so,Why? If so, why haven’t they gone back with technological advancements.
The first moon landing was dodgy and I don’t think it actually happened and this view is shared by a few people. The US was in the middle of a space race with the USSR at the time and the latter has already sent a man in space before them so they had to come up with something real fast.
5. What would you do if you were president for a day?
I would appoint a blue-ribbon committee of 12 accomplished citizens one each representing these non-political walks of life: arts, science, sports, entrepreneurs, tech, health, law, education, environment, defense, farming and philanthropy and charge them with imagining innovative industries that put Kenyans to work and add value to our world.
6. What’s your favourite book & movie?
The book The Pillars Of The Earth by Ken Follett and the movie Sholay
7. Who/What inspired you to do what you do now?
Two people; My mother showed me that true freedom comes from entrepreneurship that allows you to control your destiny. I was inspired to pursue Insurance by Mr. S.V Natarajan.
8. If you were to change jobs, what profession would you get into? Why?
I would be an Investment Banker. I enjoy the adrenaline of structuring deals. I may still pursue this career.
9. If you had a superpower, what would it be?
Flight. I think it would be so cool to just take off and soar above the noise.
10. If you were deserted on an abandoned island what 5 things would you want to have?
- Solar powered generator
- My Laptop
- Sleeping bag
- A fishing pole
- A friend
11. If you were a car, what car would you like to be? Why?
Mercedes-Benz GL550. I am essentially a city boy but I also like going on a road trip once in a while. This car is a luxury cross-over.
12. If you could be in any other band in the world, which one would you like to be in? Why?
New Edition. I grew up wanting to be them. Now we are the same age so I would fit right in.
13. What is the biggest challenge that you have encountered while in business? How did you overcome it?
I cannot choose between two so allow me to share both. The first one was raising seed capital for Resolution Group at a time when few believed retail Medical insurance could be done profitably. I knew my business plan was sound and I understood the business after spending 10 years in the industry. I propagated my ‘gospel’ to all who would listen and eventually got some angel investors who saw my vision, these investors made excellent return when they exited from the business. The second was the conversion of Resolution Health to Resolution Insurance. We required to raise core capital and convince the regulators that we have the ability and skills to write other general insurance lines after being a mono-line Insurance provider. This took lobbying, a sound business plan, a rights issue, and convincing our bankers we were good to take a risk on.
14. Share something interesting about yourself with our readers.
I understand meat business very well. I assisted my parents in a beef distribution business as a teenager and run a butchery/ slaughter house between college and graduate school.