Wananchi Opinion: Low-income earners can also invest, make money

In Kenya, just like anywhere else in the world, investing is a crucial step towards financial stability and success.

However, for those with low incomes, finding viable investment opportunities can seem challenging.

However, with so many options available today, it is possible for anyone with a small amount of capital to invest.

There is no doubt that investing can be risky, but with careful and sound decision-making, it can be profitable and life-changing. The following are the investment opportunities you can explore.

Mobile money business. In Kenya, the mobile money business has been on the rise for the past decade.

With over 90% of the population owning mobile phones, investing in mobile money is a great way to start a small business.

One can start by buying a mobile phone and sim card, registering with a mobile money provider, and offering mobile money services  transactions, bill payments, and airtime top-ups. This business requires minimal capital and can be operated from anywhere.

Agribusiness: Kenya is an agricultural country, and for those with a passion for farming, the agricultural sector presents vast investment opportunities.

From buying small parcels of land for crop farming to rearing poultry, dairy farming, or fish farming, agriculture can generate income, and with proper management, yields can increase over time.

The government has also availed funding and subsidized input programs for farmers, which can be accessed through cooperatives or agricultural extension officers.

Investing in real estate can be a lucrative investment option in Kenya. Although it might seem like a preserve for the rich, there are opportunities for those with low income.

One can start by investing in land in affordable areas around towns or cities, and with time and proper documentation, the land can appreciate, and one can sell at a profit.

Also, investing in rental income properties is another investment opportunity. With the high demand for housing, rental income properties can provide a stable passive income, especially in urban areas.

Network marketing. Network marketing involves the sale of goods or services through direct communication with potential customers.

In this business, investors recruit other persons to sell the products, and everyone gets a cut on the sales made.

This business model offers a low-risk investment opportunity for low-income earners to start making a profit with minimal capital

Stocks. Investing in the Nairobi Securities Exchange (NSE) is another way to grow money in Kenya. It requires minimal capital and offers a variety of stocks that one can choose.

An individual can purchase or sell shares in public companies via Nairobi Securities Exchange (NSE). The NSE market offers stocks, bonds, and Exchange-traded funds (ETFs).

One can research public companies and financial performance regularly to identify possible profitable investments. Investing in stocks can be a volatile venture if an individual fails to familiarise themselves with the securities industry and financial markets.

One should therefore seek the services of a professional stockbroker before investing in stocks.

Investing in the transport business can also generate income for those with low incomes. One can start by investing in a motorcycle or a tuk-tuk and offer transportation services.

With proper documentation, one can get insurance and licenses to operate. Also, partnering with a local taxi-hailing company like Uber, Little, or Bolt can generate additional income.

Renewable Energy. With the increase in demand for clean energy, renewable energy investment presents ample opportunities.

For instance, one can invest in buying and installing solar panels for homes, schools, and other institutions.

With proper documentation and certification, one can get funding from the government or microfinance institutions.

Investing in personal services like barbershops, tailoring, laundry businesses, or jewellery-making can generate income for those with skills in the area.

Personal services require minimal capital and can be operated from home or rented spaces. Also, with the rise of e-commerce, one can market products online and reach a broader customer base.

In conclusion, investing is a crucial step towards financial stability and independence in Kenya. With the vast opportunities available, one can generate income and grow wealth with minimal capital.

However, proper research and sound decision-making are imperative in making profitable investments.

One should also seek professional advice from investment experts, microfinance institutions, and government-funded entities that cater for small businesses and low-income earners.

Mr. Abol Kings is a teacher and financial coach