Hamed Ehsani: The low-risk investor who built Village Market

"These weapons reflect something about humanity," Hamed says, “that even when we are in power, do we have to display our sharpest edge or can we opt to reveal the more delicate beauty of power?” Which brings to mind that famous quote, "beauty is power; a smile is its sword.”

Hamed is no archeometallurgist. As the urban lore goes, many moons ago he and his brothers were driving through a coffee farm in Nairobi's Gigiri that they thought would make a great place for some sort of a modern African village.

A marketplace that brings people together, a place to break bread and maybe buy a blouse.

This vision materialised as The Village Market Mall, which over time has since developed into a 250-store shopping mall. They have since added The Tribe and Trademark Hotels to their repertoire.

I think I've asked you about your collection of swords, knives and things, but I would like to hear it again.

Well, I always jokingly say, when you're in the rental business you need a place where you sign your leases to show that you're a tough guy. And since it’s not in my nature really to be tough, the wall helps me exude toughness.

[Laughs]. No, I really love art on swords and daggers, their background and the area of the world they come from. I collect them from everywhere; Congo, Mali, north of Somalia, Ethiopia, I have quite a number from Niger, India, Central African Republic…that one was from British soldiers…many of them are ceremonial, a few are originals.

I like the detailing on it, that's more of an interest to me than what the swords do. Many of these swords are ceremonial. I liked how beautifully they are designed, and detailed. Some, especially from West Africa, have unique leatherwork on sheath and handles.

It started with one or two items I bought maybe 40 years ago from African Heritage and so then over the years, people know I collect so they bring them as gifts. Some I have bought.

What do they represent?

They represent power in general, but in the same sense, they represent beautiful design and craftsmanship. They also kind of reflect on us human beings that even when we are in power, do we have to show the powerful side and the sharp

side, or can we show the beauty? You know, I think the beauty is much nicer to the eye than the functional part of it. You know, maybe there is learning there. I also like to surround myself with art, as you can see, because I derive great delight from art.

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Art makes me happy. When I look at another piece of art my wife keeps reminding me we don't have any empty space on our walls anymore. [Chuckle]

This place was a coffee plantation 40 years ago, yet you saw a vision to build a mall here even when the general opinion was that it was too far from anything and nobody in their right mind would come. What gave you the confidence to imagine that something like this could work here?

I used to live in Runda at the time and for shopping, we used to go to Westlands or town. There was a feeling that eventually the city was going to have to grow, and with the United Nations being here, some sort of shopping, maybe 30 shops would be needed for the residents of the area so they don't have to go to town. So the need was strong.

Anyway, 30 shops turned into 60 and very soon we learned that people just came over the weekend and that the population around here was not sufficient to support the mall.

We needed to pull people from all around the city so we introduced recreation facilities, and then we started bringing in more retail, supermarkets so that we have better retail facilities.

And then went through seven phases of expansion. We're now planning the eighth.

There must have been fear at each stage.

And this is where partnership becomes very important because my own risk level is very low but my partners have a higher risk level.

They expand my risk level a little bit, which I'm very thankful for because then it kind of adjusts my approach to things. An example; one of the things we've done throughout our expansion plans has been that we built during election years when nobody builds. It helped us.

First of all, we managed to get better prices for construction because there weren't many projects around and you could negotiate better deals.

And the other one, also, you needed a certain level of confidence in the country. My personal feeling was, regardless of what the outcome of the elections is, the maturity I've seen of the people of Kenya will take over, you know, eventually.

Unfortunately, 2008 turned nasty and that's when we built Tribe Hotel. And the name tribe was specifically chosen for the year we opened and everybody said, how can you name it tribe in this volatile situation? And we said, well, that's exactly why we want to say, because the tagline says ‘one planet, one people.” What better time to impress on the importance of that?

Did you always dream of building a big business when you were a child?

I was never a good student. I was a daydreamer. I was constantly reminded to pay attention because my mind was somewhere else. But I came from a family where business was a daily thing. My father was a businessman. I started studying industrial design when I went to university. I loved the idea of creating and doing industrial design things.

Then after the second semester, I said, it doesn't make sense, you know, your dad is in business and he wants you to go back and help him so go and study business. So I switched over. I studied international business and MBA in marketing. And so, yes, it's in me.

You mentioned that you're a low-risk person. What's the one thing that you did that scared you?

The expansion of Village Market a few years back - the new wing. I was very scared of it, you know, because it was double the size of the Village Market, featuring a new hotel as well (Trademark Hotel.) This was during Covid, so I was very worried.

Part of it had also to do with new malls that were opening at the time; Two Rivers and Garden City. The Nairobi crowd likes new things and if they find something new they'll leave you cold and go. But it worked. People loved it.

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Do you remember much about Iran now?

Before the revolution and you guys coming down here or is it a faded memory? Well, I spent my childhood and youth in Iran until I was 16 when I finished high school and went to the US for my studies. And when I got back, I was only in Iran for about five years before we left.

Yes, I remember many fond things. I remember meeting my dear wife. I was 24, in fact next week is our 50th anniversary.

Happy anniversary! 50 years of marriage is a long time! I’m sure there are a lot of lessons you can offer on marriage…

Oh I have a lot to say about marriage. [Laughs]. Human beings have been created to advance civilisation…this is the inspiration I get from my faith (The Baháʼí Faith) and so if that is our main duty, the choice of our partners who can help us attain that is key. What qualities should that person have to be a good traveller with you on this path?

This is a faith-based decision. You and the person you are marrying have to be aligned on that. For some people, it might be their religion or social work. Another lesson of marriage; develop a sense of humor. If you have a sense of humour, you have a good marriage.

You have to be able to laugh at yourself, laugh at the situation, make a joke out of it and get out of a situation that potentially can be unhappy. It’s also nice to have a beautiful wife. [Laughs].

Is there one thing that your wife has constantly complained about in the past 50 years?

Yes. [Laughs] My naps. When I'm put in a situation where I lose interest, it's just like the computer, I go to sleep. If I'm in difficult situations, for example, if I'm sitting in a doctor's office and it's taking a long time, rather than getting angry, I take a nap.

If I'm in traffic and the traffic is heavy, rather than getting agitated with the traffic, the driver is driving, I take a nap. I take naps even in our board meetings. When I lose interest I nap. We call it the privilege of the age at the moment but I've been like that forever. [Laughs]

What's been your hardest life lesson?

You're asking tough questions. [Pause] There have been many learnings in life, and one of the hardest things is to look back at your younger years and then disapprove of those years. However, I have little regrets. I would have loved to have learned to play music.

I regret I didn’t. I wish I studied more literature because once you get into literature and poetry you get very close to spiritual concepts whereas business is all material and mathematics. Literature uplifts. I'm trying to make up for it now.

What are your lessons around money?

It's the most corrupt thing you can imagine. I mean, it's a necessary thing but it’s also corrupting especially if you make it the center of your life. Money degrades you. It's not what you have, but what you do with it. I've been lucky that the businesses we've been involved in have prospered.

And I'm very careful not to feel pumped up about it and the only way I can think about it is by looking around and seeing how much need there is in the society, in the community. And asking myself; what can I do to alleviate some of those difficulties at a personal level, at the community level? Money has to have meaning.

What keeps you up at night?

I sleep very well, Biko. Very well.

Do you not have any fears?

You know, the question is, what good will it do if I worry about something? Either it's something I can do something about, so let's get on with it and do it, or it's something which is out of your control that then accept it and move on. You know, I think all my life, there have been maybe four nights that I can say I didn't sleep well.

Is there a big life question you're asking yourself now?

Yeah; where are we headed as humanity? Why are we where we are as humanity? It is frustrating because you want to do something about it but your scope is so limited. However, what you can do is try and set an example by being less selfish and being more concerned with others' welfare. But there's so much materialism that becomes veiled and doesn't let people see. So that worries me.

At 74, what do you find yourself to be struggling with the most now?

Nothing, I’m fine! [Laughs]. No, but one thing is the need to keep active…I don't want to lose my mind. That’s my biggest worry, losing my mind. That’s why I paint and write. We have book reading sessions here at work where we sit and discuss a book. I'm quite active.

Everybody says, when will you retire? And I say, well, even the word scares me because, to me, retirement is not going to sit before the television or garden the whole day. I love tinkering and reviving classic cars. I’m redoing classic cars for each one of my grandkids.

I thought it would be a nice thing to do for them, to say, Grandpa gave me this. So I started with the Mini for my eldest granddaughter.

Now I'm doing a VW 1967 VW for the second one. And then I have a Morris Minor I'm working on for the third one. Finding parts and making sure they're in good standards and all that keeps me busy and sharp. I have four and a half grandchildren now [Chuckles].

When you get to a point where your children are all grown and independent, life starts to become somehow boring because you are advanced in age. But then these sweet little things come into your life and they sweeten it up. Suddenly there is noise and there's colour and laughter and jokes and, you know, so it's the best thing ever. Really the best thing ever. [Beaming]

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