Many people in Kenya usually get money and do not know what to do with it! Nowadays, especially with lotteries gaining popularity in Kenya, anyone can become a millionaire. It is not the era when only accountants and lawyers had real money in Kenya, now the problem is not how to become rich, the problem in Kenya is how to distribute wealth. There was a research in Kenya that found that if all the worlds money was to be redistributed equally it would only take seven years for the once rich to get back their money and the once poor in Kenya to go back to their poor self.
Mostly, poverty may invade Kenya, due to lack of knowledge on the right projects to invest in in Kenya. If a Kenyan got a million shillings, they are likely to buy a public service vehicle worth eight hundred thousand shillings, after paying the necessary tax and insurance in Kenya, the million shillings would be over. That means, in case of the vehicle breakdown, the Kenyan would not have any money to revive it. So three months after receiving the million shillings in Kenya, the Kenyan would be poor again. To invest in the transport industry in Kenya is a good venture, but it requires you to have a fair amount of money to cushion you against any uncertainty.
Most people in Kenya however prefer investing in real estate in Kenya. Real estate business in Kenya entails buying a house, and it is one of the safest ways to invest your money in Kenya. This is mostly due to the factor that an asset like a house in Kenya will always appreciate. Real estate business in Kenya also fair well in the market because with growing population in Kenya, the demand for houses is on the rise. A Kenyan with the money to buy a house can prefer to buy a house and make use of the money used to pay rent for investment somewhere else in Kenya.
With con men and fraud in Kenya, nowadays buying a house is a risky business because you may be given fake title deeds only later to find that you are the fifth person to be sold the same property in Kenya. If you are a Kenyan buying a house, make sure you employ the services of a lawyer in Kenya. This might be costly, but it will save you lots of trouble later during the process of buying a house in Kenya. Also, make sure you engage the land commissions in Kenya. The land commission offices is located in 1st Ngong Road on Ardhi House in Nairobi. To get to Ardhi House in Nairobi, you board a matatu number 4W at Kencom stage in the cetre of Nairobi or at railways.
There is a better way of investing your cash in Kenya than purchasing real estate. Instead of buying a house, you can buy land in Kenya at a cheaper price, build a house and sell it. Yeah, I mean you start your own construction company in Kenya. Buildings in Kenya are on high demand since the population in Kenya is growing, and people need places to stay. As the economy of Kenya is growing, Kenyans want to invest, which makes it almost impossible to lack a buyer for a house. The advantage of constructing a house for sale is, unlike vehicles, houses do not depreciate. A Kenyan is always guaranteed to sell a house at a profit.
It should be noted that success of any business venture in Kenya will be determined by your hard work and management skills. So no matter how profitable a venture is in Kenya, if you do not invest your brains and precious time in it, you will go under. Also before starting any business in Kenya, you should do a research of the market in Kenya. A certain business can be marketable in a certain area and a total flop in another area within Kenya. Just like the way you can not sell umbrellas during the dry season or in dry areas of Kenya, choose your business well. People in Kenya are different in the sense that some people can not manage large scale businesses while others can. If a business in Kenya is growing, you should assess if expansion of a business in Kenya is possible and the effect on the business positively or negatively.
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