In Kenya's dynamic landscape of asset financing, Watu Credit has emerged as a key player. At the helm of its financial strategy is Steve Onyango, head of finance, whose leadership is helping drive the adoption of e-mobility in the region.
Steve believes people management is just as crucial as technical skills in finance. Since he began his career, he has worked across several industries, adapting to the demands of each role. But one lesson has remained constant.
“Early in your career, it's all about technical skills, mastering processes, and understanding systems. But as you grow, you realise that success is about managing people effectively. As the head of finance, I cannot function without a strong, motivated team. I don’t look for a plug-and-play team. I’m willing to train people. My role as a leader is to help them harness their technical expertise to benefit the organisation. Processes evolve, and systems improve, but people drive success,” he says.
He adds: “That’s why I start all my meetings by first checking in on my team. At the beginning of the year, I ask them how their holidays were and what they’re planning for the months ahead. Only after that do we dive into technical discussions. I also encourage open communication. If someone has a technical issue or needs a decision, they don’t have to wait for a formal meeting. The key is to prevent problems from piling up, leading to frustration and burnout. I want my team to enjoy their work and look forward to coming in every day.”
In 2023, Steve joined the governing council of the Electric Mobility Association of Kenya (EMAK), which advocates for the needs of the electric vehicle industry. Since then, the association has brought together industry stakeholders, facilitating expert panels and discussions on critical issues such as battery technology and infrastructure development.
“Previously, key players in the industry worked in isolation, lobbying the government through fragmented groups that often undercut each other’s efforts. Now, EMAK provides a single, organised platform for industry advocacy. We’ve created systems for structured engagement, recruited auditors, and established clear feedback channels. By unifying voices within the electric mobility sector, we’ve strengthened our ability to influence policy and drive real change. Helping EMAK gain industry-wide recognition has been one of my proudest achievements,” he reveals.
The beautiful game
Beyond shaping industry policies, the company has also played a part in shaping financial regulation. The recent enactment of the Business Laws Amendment Act 2024 provides a legal framework for non-deposit-taking institutions, a development that Steve and his team welcome.
“A well-defined regulatory framework ensures fair competition and proper oversight, allowing for objective evaluation of industry practices,” Steve says.
A life-long fan of ‘the beautiful game’, Steve approaches finance much like football, where strategy, precision, and teamwork define success. He believes that finance is about playing the long game of anticipating risks, making calculated moves, and ensuring a strong team dynamic. For him, winning is about ensuring every decision moves the organisation towards long-term success. Since 2022, Watu has scaled its expansion into device financing, enabling thousands of customers to access smartphones through flexible payment plans.
“Watu has always focused on empowering entrepreneurs. It started in Mombasa in 2015 to bridge the financial gap for small business owners. By 2017, it became Kenya’s leading financier of motorcycles and three-wheelers. Today, approximately 50-60 percent of the motorbikes on Kenyan roads are Watu-financed. Every month, Watu also finances up to 100,000 Samsung handsets. This expansion ensures that entrepreneurs have the digital tools they need to thrive.,” he says.
As Africa moves towards sustainable transportation, Steve is keen to be part of the transformation. The company is already transitioning from internal combustion engine (ICE) vehicles to electric models, partnering with original equipment manufacturers (OEMs) to provide financing for electric vehicles.
“The goal is to create an ecosystem where sustainability meets affordability. Through strategic partnerships, Watu is making EV ownership accessible for thousands of entrepreneurs across Africa, which is shaping the future of mobility in the region,” he explains.
A dream reborn
While Steve is fully on board with Watu’s dream, he still nurtures dreams of his
own. For one, he would like to see at least one of his children become a professional
athlete. He is hopeful that either his 16-year-old daughter or 12-year-old-son will be
inclined to follow the path he left behind.
“One of my biggest regrets is not pursuing sports professionally. I was raised in an environment where formal education took precedence, and sports were seen as just a hobby. But I want my children to have the opportunities I didn’t. I feel like I haven’t done enough to push my daughter towards professional sports, but I’m fully committed to mentoring my son. I’ve enrolled him in an academy and got him a private coach, and my plan is to guide him through professional trials in Europe. Hopefully, within the next year, we’ll see how far he can go, he says.
