Khalif Kairo on Why he spends Sh 100K on monthly rent Instead of Buying House

Kenyan Young Entrepreneur Khalif Kairo is undoubtedly one of the biggest name in the automotive industry. Despite hailing from a humble background, and being raised by a single mother in Kawangware, Nairobi, Kairo has gained huge reputation in car-selling business.

Khalif Kairo is one of the leading car dealer importers, believed to have amassed considerable wealth from the business.

Despite his huge success in business, Kenyan have continued to give him a fair share of criticism, arguing that that he doesn’t own a house but rather lives in rentals.

Addressing the claims during an Interview with Iko Nini Podcast, Kairo said, “Mimi personally naishi kwa rentals wacha ku drive Porsche jet naweza nunua nikishi kwa rentals.”

Kairo shared valuable insights on his private life, revealing he resides in Rentals where he parts with close to 100K as rent. He further disclosed that the location of the rented house provides easy access to services like malls and shopping centers.

According to him, spending Sh 20 million to buy a house doesn’t align with his priorities as he prefers to channel the money into business expansion and marketing strategies.

Speaking during the interview on the Iko Nini podcast, the father of one addressed three prevalent false narratives his detractors love to spread about him and his business.

Money-laundering: One of the most common allegations against Kairo is that he’s involved in money laundering.

READ: Meet Kenyan Richest person whose father earned Ksh 1.6B in one hour

According to rumors, Kairo launders money for businesspeople from Arab countries—a claim that arose after a trip to Dubai coincided with a turning point in his life.

People forget that I ventured into the car business 10 years ago. Money laundering can’t sustain the lifestyle I live. You can’t be in that business and still visit countries such as the U.S., where the FBI would have you on their radar,” said Kairo.

He emphasized that if he were involved in such activities, someone would have already reported him to the authorities.

Drug-dealing: The narrative that followed the money-laundering accusation is that Kairo is involved in drug dealing.

READ: Meet Highest paid CEO in Kenya earning Ksh 1 million per Day

Kairo mentioned that his critics claimed his trips to South American countries were intended to establish connections with drug lords.

There was a scandal that I am a drug dealer and that I go to Colombia to get suppliers,” said Kairo, laughing off the accusations.

READ: Meet Kenyan Billionaire who doesn’t have a wallet and owns one pair of shoes

Selling cars from accidents: Finally, Kairo revealed that the most recent rumor is that he sells cars from accidents.

According to Kairo, online gossip suggested he sells vehicles from accidents, a claim he called a well-crafted falsehood.

To shut down the rumors, Kairo offered Sh1 million to anyone who could prove they had bought an accident vehicle from him, but no one came forward.

READ: Salome Chepkemoi; From scoring D in KCSE to becoming a millionaire

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