One of the questions that most Kenyan especially the youths asks is, how to get wealthy in a country like ours.
There are several ways that you can still make it with some investments; the only issue with most people is that they are interested in quick rich schemes. Most Kenyan billionaires took time to get to their current status.
Tips on how to get rich in Kenya
Yes farming. Farming is one of the oldest careers but it is the most looked down upon especially by the young educated generation in Kenya.
Every graduate is interested in a white collar job, that are not just difficult to come by but also paying peanuts to highly learned graduates. Kenya faces food shortage.
Fish farming and horticulture farming remain one of the most money making forms of business.
2. Invest on stocks
Most billionaires made their fortune on buying stocks, from Chris Kirubi to Donald Trump who are renown billionaires who have invested in stocks .
You simply buy shares for as little as Kshs 5000 and make dividends yearly, from the dividends you buy more shares and by the time you are in your 40’s you own a stake in a renown company.
This requires patience as millions are never made overnight, unless you are selling something illegal.Invest in stocks and stop wondering how to get rich in Kenya.
3. Start a passion business
Everyone has a hobby they always want to venture in, some are good at making cakes, and others are good writers, people do not potentially maximize their hobbies and they therefore do not monetize on things they are good and could be making millions at.
4. Government Bonds
Treasury bills are short-term Government debt securities with maturity of a period less than one year. They are the most well-known of all Government securities.
Treasury bills are designated by the number of days to their maturity. Investing in bonds is like giving loans to the government at an interest.
In Kenya the government had offered this form investment sometimes this year though it did not attract a lot of people.
5. Avoid spending money on things that won’t add value
What should come first a car or a house? Do you really need to buy yourself that Lexus? Wouldn’t you do just as fine in a much cheaper car and get to have more money to put into buying a house or even your business?
There is really no point in buying things that will not bring you income in the long run. The value of a car decreases as it ages but the value of land goes up. So which is the better investment of the two? Be smart in your purchases and go for things that add value.
If you are a youth and you feel like your billion dream might not come true, revisit these tips on how to get rich in Kenya and you might realize that there is a piece of land at your rural home that you could be making money with.Your hobby that could make you earn your first million.
Always remember that your million idea is lying idle at the back of your mind