Money & Me: ‘I wish I’d started investing more when I was younger’

Entrepreneur and private chef Tadiwa Tendayi is growing her wealth by investing in tech start-ups

Tadiwa Tendayi, founder of Satiate Luxe, says spending on fragrances, travelling and eating in fine dining restaurants are important luxuries for her. Victor Besa / The National

Tadiwa Tendayi quit a full-time job and became an entrepreneur at 23 to pursue her passion of becoming a personal chef who creates intimate culinary experiences.

Ms Tendayi, now 27, has come a long way. She is now an international chef with experience in five-star hotels and top restaurants, and runs her own businesses – Satiate Luxe.

Her love for food started in her childhood, the Zimbabwe-born entrepreneur says, when she immersed herself in cookery books and TV shows.

Ms Tendayi left high school at 16 and started a diploma in cooking and culinary arts at the Southern African Hospitality Training Company. She was chosen to represent Zimbabwe at the Young Chef Olympiad in Kolkata.

Later, Ms Tendayi joined the Victoria Falls Hotel in Zimbabwe before moving to Abu Dhabi in 2019 as part of the pre-opening team for Tasha’s Al Bateen and then to Dubai with Avli by Tashas.

Her experience also includes being a full-time chef for a professional sportsperson living in the UAE.

Ms Tendayi spotted the niche of serving top-quality luxury culinary experiences to clients who wanted restaurant-standard fine dining without leaving their homes. She decided to take the plunge and launched Satiate Luxe in 2021 to provide personalised at-home dining experiences. The concept brings fine dining to people’s homes in different ways, including private chefs and gourmet meal plans.

Ms Tendayi lives in Saadiyat Island, Abu Dhabi.

Did wealth feature in your childhood? What did you learn from it?

My family comes from a good financial background. I went to private schools and while my parents did the best for me, they were always careful with money. Unfortunately, when my dad died when I was about 12 years old, there was a little bit of a drift in how money circulated in the household. Things got a bit tougher, but it didn't get to a struggle. It taught me that money comes and goes, and that's how I describe my relationship with it.

How did you first earn?

My first job was as a trainee sous chef at The Victoria Falls Hotel in Zimbabwe. I earned $120 a month.

Any financial jolts?

When I started my business, it was tough to manage setting up licensing costs and getting things in order. When I started the venture, I barely had enough money to survive. At some point, my family told me to get a full-time job.

Tadiwa Tendayi's first investment was an apartment in South Africa, which she recently sold to invest in a UAE technology start-up. Victor Besa / The National

A chef’s career is very challenging. When you work for a restaurant, it takes you a long time to get to the stage where you can create and build recipes. For me, it didn't define what I wanted. My passion is to cook food and see people enjoy it. When I started my business, I realised that being a private chef creates more intimate gatherings and more enjoyable experiences for my customers and me.

Starting a business is a journey. I'm now at the stage of realisation that when you start a business, it takes time to grow. It's just been building blocks for the business over the past four years. Moving forward, I am optimistic about making profit.

How do you grow your wealth?

Since my business revolves around me, I try to diversify and tap into other industries. I have recently started investing in technology start-ups in the UAE.

My first investment was an apartment in South Africa, which I recently sold to invest in the tech start-up. I hope that as my business grows, I can buy more real estate.

Are you a spender or a saver?

A bit of both. I enjoy buying nice things, but I'm very conscious about how I spend my money. I have different accounts where I put money away for holidays and a rainy day. If I want something, I slowly start putting money aside for it.

Have you been wise with money?

No, not all the time. Especially within my business, I find myself overspending on things that I don't need. Sometimes, the employee mindset kicks in and you start to forget that your start-up is not on the same level as the company you worked for.

Any cherished purchases?

The apartment in South Africa was a big one for me, because it's something that I really wanted at the time.

My goal is to consistently earn large income through my business since I am a salaried employee

Any financial advice for your younger self?

To understand that money is not everything, but it can buy you freedom. Also, to start investing more when I was younger. I had a full-time job, so there was a steady income and I could have made smaller investments. I wish I realised that investments don't have to be expensive. When you're younger, there are opportunities to invest in things for $200 a month. This could pay for a retirement plan.

Any key financial milestones?

No, I am not where I want to be yet. My goal last year was to make my first million in dirhams through my business, but I just missed it.

What are your financial goals?

My goal is to consistently earn a large income through my business since I am a salaried employee. As an entrepreneur, you pay yourself last. Also, I would like to invest more.

What luxuries are important to you?

Fragrances and travelling are important to me. I like to see things and eat luxurious food in fine dining restaurants. I am a major foodie and will pay anything for food.

How do you feel about money?

Money buys you freedom and lets you buy what you want, most of the time. It cannot buy you health but can contribute to good health. It cannot buy you family but buys you time to spend with family. However, money is not everything.