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Derrick Bundi’s enterprising nature emerged during his high school days when he made profits by reselling bread, and this eventually led to him establishing Pretium.
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He pursued his studies in Business Information Technology at Taita Taveta University and accumulated practical knowledge as a software engineer prior to co-establishing Pretium.
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Pretium currently functions across seven African nations, enabling users to utilize digital currencies such as USDT for regular transactions without needing to convert them into local fiat currency.
Elijah Ntongai, who works for .co.ke as a journalist, possesses more than four years of expertise in researching and reporting on finance, business, and technology. He offers valuable perspectives on both Kenyan and international developments.
When reflecting on his path from a humble upbringing in Meru to establishing a fintech company now active across seven African nations, Derrick Bundi often repeats a poignant saying: “Lines fell into pleasant places.”
Three decades ago, Bundi came into this world in Meru county and spent his formative years under the care of his grandparents. During an exclusive interview with
.co.ke
Bundi characterized his upbringing as being defined by simplicity.
Even though his grandparents could manage to provide meals and housing, navigating secondary education proved to be quite difficult, prompting his grandmother to reach out far and wide for scholarships and sponsorships.
“The financial burden of school fees wasn’t an issue until I got to secondary school. That’s when things became quite challenging. However, I owe my success to my grandmother. She must have approached every possible scholarship opportunity and grant to cover my tuition,” Bundi stated.
His educational journey took him to Taita Taveta University, where he pursued Business Information Technology (BITT). Although BITT wasn’t initially his top pick, it provided the foundation for what eventually became his lifelong purpose.
“At first, my ambition was to delve into the field of computer science. Hailing from a rural area where computers were unheard of, I harbored an intense curiosity towards technology and the digital realm. Understanding that the key to accessing this domain lay in pursuing studies connected to it, I aspired to embark on that journey. Unfortunately, circumstances prevented me from taking up computer science directly; instead, I opted for BBIT. Reflecting upon it today, I realize these events led me down a path that turned out quite satisfactorily,” he mentioned.
Bundi’s early career
Bundi has always had a knack for entrepreneurship. As a teenager, he would buy bread over the weekend and then sell it at a higher price during weekdays, multiplying his spending money threefold by the end of each term.
“In high school, our morning meal consisted solely of tea, with bread available only on weekends. Consequently, each Saturday and Sunday, I purchased bread to sell throughout the weekdays at a markup. Despite having limited spending money, by the conclusion of the semester, I managed to increase it threefold. This modest enterprise kindled my business acumen from an early age,” he explains.
Following his time at university, Bundi was employed by an information technology company. He then left this position to launch his own logistics venture, which unfortunately faltered prematurely because of the COVID-19 pandemic-induced lockdowns. As a result, he returned to working as a software engineer.
Bundi establishes Web3 payment firm
Pretium is a Web3 payments firm that Bundi co-founded to address an issue he encountered personally: the difficulty of using cryptocurrencies for routine purchases.
I continually questioned why I couldn’t utilize my USDT at the supermarket just as easily as I use M-PESA.
When engaging with the web3 community at various web3 events, I recognized this as a common issue,” he explained. “I noticed there wasn’t an evident solution in Africa enabling individuals to utilize stablecoins or cryptocurrencies directly for transactions without depending on peer-to-peer exchanges. This realization sparked my ‘eureka’ moment, compelling me to take action and co-found the company.
Pretium enables individuals in Kenya, Uganda, Nigeria, Ghana, Malawi, Zambia, and Rwanda to make payments for groceries, purchase items online, or transfer funds effortlessly through digital currency without the hassle and expenses associated with person-to-person transactions or converting to traditional currency.
“Our customers are regular people who own digital assets and wish to utilize these for their day-to-day spending,” he clarified.
What factors contribute to Bundi’s success?
Bundi attributed the smooth operation of the Pretium to his team, crediting their success in part to his background as a software engineer at a fintech company and the insights he acquired from his initial venture leading a logistics startup, which unfortunately folded during the COVID-19 era.
The blend of experiences has molded how I lead and develop Pretium. Given my software engineering background, I’ve utilized my expertise to construct our technological foundation and collaborate closely with our development team.
As someone who has founded a company before, I applied valuable insights gained from my earlier venture, particularly regarding managing cash flow, assembling a strong team, and securing funding. My role as CEO today is the outcome of extensive practical experience spanning technical and operational areas, enabling me to confidently guide one of the quickest-expanding Web3 companies forward with precision and assurance.
Challenges Pretium is facing
Currently, Pretium functions in seven nations and benefits from a modest yet expanding workforce of five individuals. However, the journey has not been without obstacles.
We find ourselves navigating uncharted legal waters. Currently, there isn’t a definitive legislative structure overseeing thecrypto sector; however, we remain hopeful with the VASP Bill 2025 under consideration in Parliament.
Due to the absence of regulations, conventional financing has become challenging, leading Pretium to depend primarily on investors focused on Web3 technologies. Nonetheless, Bundi continues to remain steadfast.
In the coming five to ten years, my vision is for Pretium to be held by everyone across Africa, paving the way for a future where digital assets and local currencies are indistinguishable.
Bundi views Pretium as much more than merely a payment system; it’s a means for fostering economic empowerment.
Currently, African individuals face taxation upon entering and exiting cryptocurrency transactions. Pretium removes these obstacles, thereby reducing costs. Our focus extends beyond just payments; we aim to develop an environment that generates employment opportunities and fosters local skills. Presently, our team consists of five members, but we are expanding.
Starting as a student selling bread in school and becoming an innovator revolutionizing payments throughout Africa, Derrick Bundi’s journey demonstrates that creativity frequently emerges from posing basic queries and having the courage to address them.
Ways to secure financing for new businesses
Elsewhere in the news, Andrew Fassnidge, who founded the 2025 Africa Tech Summit, recommended that Kenyan startups concentrate less on buzz and more on concrete figures by substantiating their income forecasts to secure funding.
He stressed that in the current environment of careful investment, backers seek evidence that a business model can produce actual revenue rather than mere prospective gains.
Fassnidge advised entrepreneurs to concentrate on achieving product-market fit and demonstrate at least minimal revenue as proof of progress.
He suggested leveraging local angel investor groups such as the Kenya Angel Investment Network for securing initial funds and establishing credibility.
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