Investment is one of the ways of preparing for your future life. With an investment plan, your retirement life will be easy as you will have an income source as you relax at home with your family. However, the challenge comes in deciding on an investment idea where you can put your money. Some people have lost vast sums of money due to investing in the wrong business. Therefore, after conducting detailed research, I have compiled a list of viable investment ideas in Kenya.
1. Transport Industry
The transport industry in the country is booming. As many businesses come up, there is a need for transportation. Additionally, the country’s population is projected to grow tremendously over the next ten years. Therefore, transportation needs will always be on the rise. Thus, if you plan to invest where your money will not be wasted, think of the transport industry. You can either join the matatu or boda boda sector. All these are expected to grow due to the rise in demand for transportation.
2. Stock Exchange (NSE)
Most new companies in the country get capital by selling their shares to the public. By selling these shares, the value of the company rises with time. As a result, the company then buys their stocks at a higher rate. Alternatively, if you had bought shares from a given company, it is not a must that you sell the shares to the same company. You can make your own decisions in this case. For example, if you bought Airtel shares at around Ksh. 250 each in 2016 and later sell the stocks at Ksh. 2,000 each in 2020, you would have made the profit.
However, the stock market is a challenging investment option. Before indulging in this business, conduct market analysis so that you may make the right decisions. In most cases, it is better to involve a broker who understands the stock market.
Also Read: A Guide on How to Start Investing
Agriculture is the sector whose demand will never depreciate. This explains why it cannot miss on the list of viable investment ideas in Kenya. People will always need food; thus, it is good to be part of this industry’s stakeholders. Despite having suitable land and climate, many Kenyans are not aware of the importance of agriculture to the country’s economy.
Moreover, investing in agriculture is easy as it does not need vast sums of money. For example, when I started my farming, I just bought onion seeds and fertilizer. I worked on my farm in Kirinyaga, where I made a bountiful harvest. This has been going for the three years I have been in the business. What you need to do is to figure out the type of climate in your location. From this, you can conduct online research to get viable crops with the specific climate.
4. Putting Up a Company
If you are a youth, starting your company early enough is the best option you can take. The big companies in the country also started small. If you start the company when you are young, you will have a smooth-running company that will pay your bills by the time you get old. However, it is not a must that you start the company alone; you form a group and start a company together.
5. ICT Industy
ICT is a top investment idea in the 21st century. This is the reason why it ends the list of viable investment ideas in Kenya. ICT has many applications, as has been witnessed during the COVID-19 pandemic. Many institutions have resorted to online operations that have been necessitated by technological applications. We have seen many firms conducting their operations through zoom. Moreover, the sector is expected to grow tremendously over the next years of this information era. Therefore, as a youth, some of the opportunities you can grab in this sector are:
- Mobile and Web Application Development
- Mobile and web Business Transactions
- Film Animation Production
- Cyber Security and anti-fraud systems