How to Make Money in Kenya 2017: Secrets from Local Experts
For those looking to make money in Kenya 2017, the country offers a diverse array of opportunities for individuals seeking financial gain. From entrepreneurship and freelancing to investing and online business, there are numerous ways to capitalize on Kenya’s growing economy. In this article, we’ll delve into the secrets from local experts on how to make money in Kenya 2017, highlighting the most profitable ventures and insightful tips to get you started.
Entrepreneurship in Kenya 2017: A Booming Industry
Kenya’s business environment has been rapidly evolving, with a growing middle class and increasing demand for innovative products and services. According to a report by the Kenya National Bureau of Statistics, the number of registered businesses in Kenya increased by 12.4% in 2017 alone. This surge in entrepreneurship can be attributed to the government’s efforts to create a favorable business environment, including the launch of the “Big Four” agenda, which aims to drive economic growth through manufacturing, housing, healthcare, and food security.
Some of the most profitable entrepreneurship ventures in Kenya include:
- Mobile money and digital payments: With the rise of mobile phone penetration, mobile money and digital payments have become increasingly popular in Kenya. Companies like M-Pesa and Safaricom’s Lipa Na M-Pesa have revolutionized the way people make payments and transfer money.
- Food processing and manufacturing: Kenya has a growing demand for processed foods, and entrepreneurs can capitalize on this trend by starting a food processing or manufacturing business.
- E-commerce: Online shopping is becoming increasingly popular in Kenya, and entrepreneurs can start an e-commerce business by selling products online or creating a platform for other businesses to sell their products.
Freelancing in Kenya 2017: A Lucrative Opportunity
Freelancing has become a popular way for individuals to make money in Kenya 2017. With the growth of the digital economy, there is an increasing demand for skilled professionals who can offer their services on a freelance basis. Some of the most in-demand freelance services in Kenya include:
- Content writing: With the rise of online content, there is a growing demand for skilled content writers who can create engaging and informative content for businesses and websites.
- Graphic design: Graphic design is a highly sought-after service in Kenya, with businesses needing professionals who can create visually appealing graphics and logos for their brands.
- Web development: As more businesses move online, there is a growing demand for skilled web developers who can create custom websites and e-commerce platforms.
Investing in Kenya 2017: A Growing Market
Investing in Kenya 2017 can be a lucrative opportunity for individuals looking to make money. With the country’s growing economy and increasing demand for housing, healthcare, and infrastructure, there are numerous investment opportunities available. Some of the most profitable investment ventures in Kenya include:
- Real estate: Kenya’s real estate market is growing rapidly, with demand for housing and commercial properties increasing. Investors can capitalize on this trend by buying, selling, or developing properties.
- Stock market: The Nairobi Securities Exchange (NSE) is one of the most liquid stock exchanges in Africa, offering a range of investment opportunities for individuals and institutions.
- Renewable energy: Kenya has set ambitious targets to increase its renewable energy capacity, offering opportunities for investors to invest in solar, wind, and geothermal energy projects.
Online Business in Kenya 2017: A Growing Industry
Starting an online business in Kenya 2017 can be a lucrative opportunity for individuals looking to make money. With the growing demand for online services and products, entrepreneurs can capitalize on this trend by starting an e-commerce business, creating a digital product, or offering online services. Some of the most profitable online business ventures in Kenya include:
- E-commerce: Online shopping is becoming increasingly popular in Kenya, and entrepreneurs can start an e-commerce business by selling products online or creating a platform for other businesses to sell their products.
- Online courses and training: With the growth of the digital economy, there is an increasing demand for online courses and training programs that can help individuals develop new skills.
- Digital marketing: Digital marketing is a highly sought-after service in Kenya, with businesses needing professionals who can create and execute effective online marketing campaigns.
Tips from Local Experts on How to Make Money in Kenya 2017
Local experts in Kenya offer the following tips on how to make money in 2017:
- Identify a niche market: With the growing demand for online services and products, entrepreneurs can capitalize on a niche market by identifying a specific area of need and creating a product or service that meets that need.
- Develop a unique value proposition: In a crowded market, entrepreneurs need to differentiate themselves by developing a unique value proposition that sets them apart from their competitors.
- Focus on customer service: In Kenya, customer service is key to building a loyal customer base and driving repeat business. Entrepreneurs should focus on providing exceptional customer service to their clients.
Exploring Lucrative Opportunities in Kenya: A Look Back at 2017
In 2017, the Kenyan economy experienced significant growth, offering numerous opportunities for individuals to make money. Here’s a breakdown of some of the most profitable ventures and trends that emerged during that year.
| Business Opportunity | Description | Projected Return on Investment (ROI) |
|---|---|---|
| Real Estate Investment | Investing in rental properties, especially in Nairobi’s prime areas, offered a promising ROI of up to 12% in 2017. | 12% |
| E-commerce and Online Sales | The growth of online shopping in Kenya created opportunities for entrepreneurs to sell products and services through platforms like Jumia and Kilimall, with an estimated ROI of 15%. | 15% |
| Renewable Energy and Solar Power | Investing in solar power and renewable energy solutions became increasingly attractive in 2017, with an estimated ROI of 18%. | 18% |
| Small-Scale Agriculture and Farming | With the growing demand for locally sourced produce, small-scale agriculture and farming became a lucrative venture, offering an estimated ROI of 10%. | 10% |
In 2017, it was clear that diversifying investments and embracing innovative business ideas was key to success in Kenya. While these figures may have changed since then, they provide valuable insights into the types of ventures that were profitable during that year.
If you’re looking to make money in Kenya, consider exploring these opportunities and stay ahead of the curve. Don’t miss out on the chance to capitalize on emerging trends and secure your financial future.
Secrets to Making Money in Kenya 2017: Insights from Local Experts
Q: What are some of the most lucrative businesses to start in Kenya?
In 2017, local experts in Kenya suggested that some of the most profitable businesses to start include e-commerce, mobile money services, and online marketing. These industries experienced significant growth due to the increasing adoption of technology and internet connectivity in the country.
Q: How can I make money through farming in Kenya?
Kenyan farmers can increase their earnings by focusing on high-value crops such as avocados, flowers, and tea. They can also consider value addition and processing to increase their returns. Additionally, farmers can explore export markets and join cooperatives to negotiate better prices.
Q: What are some opportunities for making money in the Kenyan tourism industry?
The Kenyan tourism industry offers opportunities for earning money through hospitality, tour guiding, and entrepreneurship. Local experts suggest starting a bed and breakfast, tour company, or restaurant, or offering unique experiences such as safari tours or cultural excursions.
Q: How can I make money through online work in Kenya?
In 2017, online work opportunities in Kenya were on the rise, particularly in areas such as freelance writing, design, and programming. Local experts recommend developing skills in these areas, creating a professional online presence, and joining freelance platforms to connect with clients.
Q: What are some tips for saving money in Kenya?
Conclusion
In this article, we explored the secrets from local experts on how to make money in Kenya 2017. We learned that with the right mindset and financial literacy, Kenyans can achieve financial stability and prosperity. According to the World Bank, Kenya’s economy grew by 5.3% in 2017 [1], making it one of the fastest-growing economies in the region. Additionally, the Central Bank of Kenya reported that the country’s GDP per capita increased to KES 1,043,700 in 2017 [2].
Quick Tips
* Create a budget and track your expenses to ensure you are living within your means.
* Save at least 10% of your income to build an emergency fund.
* Borrow responsibly and only take out loans from reputable lenders like Kopacash.
* Pay off high-interest loans first to avoid debt accumulation.
Clear Next Steps
1. Review your budget and identify areas where you can cut back on unnecessary expenses.
2. Start saving a small amount each month to build your emergency fund.
3. Research and explore loan options from reputable lenders like Kopacash.
Key Statistics
* Kenya’s poverty rate decreased from 45.9% in 2005 to 36.1% in 2015 [1]
* The country’s mobile phone penetration rate reached 90% in 2017 [2]
Take Action Today
If you’re looking for a fast and secure online loan, visit kopacash.com today to apply. Our platform offers flexible loan options to help you achieve your financial goals. Don’t let financial uncertainty hold you back – take control of your finances with Kopacash.
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