4 Smart Ways To Invest Ksh. 5,000 In Kenya 2023
4 Smart Ways To Invest Ksh. 5,000 In Kenya
I only have Ksh. 5,000 in cash, how can I grow this money into something meaningful in Kenya?.
Here are legitimate ways to make your Ksh. 5,000 grow into more than that in a few months if not weeks.
If you are in Kenya and you want to invest your Kenyan Shillings 5,000 money.
Below are four smart ways to increase your money from Ksh. 5,000 into something meaningful that can probably help you make ends meet.
With that said, below is a list of 4 methods to invest and increase your money from Ksh. 5,000.
How To Grow Ksh. 5,000 In Kenya:
1. Start a Business
The first and the most recommended way of investing Ksh. 5,000 is by starting a business.
Businesses are not hard to start, they just seem hard but they are not, they can only become hard to maintain but that should not be a reason why you can’t start a business in Kenya.
If you just think about it, Kenya has a lot of business opportunities but no one wants to pursue the business ideas.
This article is not meant to give you business ideas but to give you ways of investing your money.
But let’s talk about some important business ideas that you should definitely consider starting in Kenya, especially this year.
- Manual > Sell Coffee, Eggs or Make Chapati. Listen, it’s all about making money, not about the business.
You are not going to do this business for the rest of your life, the goal is to grow your money, make at least Ksh. 20,000, save 50% of the money in a savings account and let it grow by itself, use the remaining 50% to start another side hustle.
Join a chama, save the money, get a loan and start something big, just do something but don’t spend the money without thinking.
- Sell Products Online > Cost of joining social media platforms, Facebook Ksh. 0.00. Instagram Ksh. 0.00.
Now, create a social media account and buy let’s say two high quality shoes that you know Kenyans love, find a name for your social media and promote your products.
You probably have no idea of how many young Kenyans are making Ksh. 30,000 per month just by using this idea. You need to think smart with your money.
- Social Media > Become a Jumia Kenya agent, start helping Jumia sell their products and earn commissions. By the way, this is free of charge, you can still keep your 5,000 and make more.
There are many business ideas that will help you grow your money, think of a good business idea, go for it and don’t stop until your Ksh. 5,000 turns into something meaningful for you.
Remember that success is nothing more than a few disciplines practices every day.
2. Open a Fixed Account
One of the best ways to grow your money from 5,000 without lifting a finger is to invest the money by opening a fixed account.
Safaricom offers one of the best fixed accounts interest rates in Kenya through M-Shwari.
Save your money with M-Shwari and lock it, after a couple of months, your money will have grown, just by you depositing it there.
Although this will not grow your money significantly fast and into thousands of shillings in a few weeks, but it will still increase the amount without you doing literally anything.
3. Invest In Stock Market
The stock market may not be for everyone because it may require a background check of the company or organization you want to buy stock exchange for.
But in Kenya, there are a lot of stock shares that will cost you less than 5,000.
The number of companies trading below Ksh 5,000 in Kenya is quite reliable.
But do more research before beginning this type of investment in Kenya, and also be careful of bad people out there who only want to con you your money.
4. Invest In Treasury Bonds
This is another investment opportunity for growing Ksh. 5,000 at a higher rate.
There are treasury Bonds in Kenya that will accept a minimum of Ksh. 3,000.
With in months, your money will be earning interests and you can always withdraw the money whenever you want to.
This is actually among the best ways for a long term investment that will earn you a lot of profits by simply letting your money sit in the account.
Those are some of the best ways to invest Ksh. 5,000 in Kenya.
No matter which investment method you choose to invest your money with, in Kenya.
Keep growing your money until your bank account balance looks like you phone number.
Caution: This post DOES NOT offer any professional financial advice. This is meant for information purposes only.