Last Updated on 31 December 2019 by Gertrude
Sometimes, the biggest entrepreneurial step isn’t the capital but what to invest in. as a Kenyan entrepreneur, this can be mind-boggling because all industries seem like they have been taken. There are some key industries in Kenya which haven’t been explored. The key industries to invest in as a Kenyan entrepreneur are
The world of health hasn’t been explored in Kenya and is a key investment area for Kenyan entrepreneurs. Lifestyle changes and changes in diet are prompting many people to opt for better eating habits, for example, organic farming and eating. If you’d love to tap into the health industry think of changing eating habits. This includes eating grass-fed red meat and not factory reared red meat or white meat for example. To tap into the health industry, you need to convince your customers about paying more for the same kind of product. Organic food production isn’t cheap unlike the factory produced food. How are people going to get convinced about paying more when they could get it cheap. You’ll need to either ‘attack’ their emotion marketing tactic where you show life getting prolonged when they eat organic or ‘running into the heart of the matter’’ by attacking them proving facts about the kinds of foods they are eating. Health is at the heart of investing and people want to see their grandkids and live long productive lives. A key investment opportunity for Kenyan entrepreneurs in 2020.
Water is an important commodity and plays a significant role in our lives daily. In Kenya, some Kenyans don’t have access to this important provision. A key investment area. Look into harnessing water when it rains non-stop. Recycling the stagnant water not only for irrigation but for human consumption. Also, you can charge per household charge to have access to the water, like a subscription per month. If you have 100,000 households each paying 100 shillings in various rural areas, you net 1,000,000 shillings per month. And you can offer water product tiers as well, access to daily water use at 1000 per month or according to the capability of the villagers. Bi-weekly access or once week access. You’re helping the villagers solve eradicate problems of water access helping them save so much money. Money which they gladly pay to you. The lack of water costs an average Kenyan woman more than 100,000 shillings in revenue according to this report.
They say farming is the backbone of the Kenyan economy but are we practising sustainable farming. Sustainable farming is growing crops for the greater good, meaning, helping others to have health and strength to face their daily tasks. In Kenya these days, farming is for shipping the commodities to overseas farms. We’re growing more flowers than food helping only a section of the population, those who can afford it. We forgot about the growth of crops to help us eat. And most farming is GMO approved, meaning we don’t care for the length of the crops in the garden, we simply want money. We don’t care for the health of the people who eat it but money. According to the CDC, GMO foods have a greater risk of causing lifestyle diseases like cancer. The plants are in the garden for a short amount of period than required. Why is this? Greed, control.
As a Kenyan investor, farming is a key area to get into. For example, being a niche farmer and encouraging other farmers to grow sustainable crops like trees bonsai trees to help sustain our environment. Or embracing the new methods of farming like aquaponics and hydroponics.
Farming is an untapped Kenyan niche, a key investment area for 2020 entrepreneurs.
We love our houses big, with landing helicopter pads. Then we abandon these houses to live overseas while these houses occupy spaces which would have been used by others for farming, for example. The real estate industry is an unserved Kenyan market for a key reason. Many Kenyan buy homes thinking they’re investments. They build high rise building/apartments believing it occupies less space, which it does. But they don’t keep in mind, the quality. Real estate investors don’t value quality building materials. They use the same old, cheap china manufactured products damaging the environment more. What if as an entrepreneur you tap into the real estate niche. You invest in the best quality yet affordable building materials. You reach out to Kenyans with abandoned estates and tell them the importance of services like AIRBNB/Homesharing. As more Kenyans are building houses the more appetite for the best quality building materials. Real estate is a niche/industry loved by Kenyans because the ROI is high, a core investment industry for businessmen/women in 2020.
If you want to make money fast in Kenya, invest in education. Education was made free by former President Mwai Kibaki in 2002. Access to free primary education and cheaper secondary school education. But is the education quality education are the students encouraged to cram for grades. It’s more a grade based education system than learning. In napoleon hill’s think and grow rich, which by the way is in the November reading list, he said that education has a ‘missing link’. That in schools, we’re not taught how to organise our ideas into definite plans of action and we don’t have a definite end. That means we’re not taught how to organise our ideas/knowledge and use that idea/knowledge. He further says that Henry Ford though didn’t have any schooling was an educated man. Educo comes from Latin meaning to educe, draw out, develop from within. An educated man is not, necessarily, once who has an abundance of general or specialised knowledge. An educated man is one who has so develope the faculties of his mind that he may acquire anything he wants, o its equivalent, without violating the rights of others. As what Napoleon said sinks in, ensure that what you teach your students to learn in school, they put it into practice. And by introducing curriculums which provoke thought and thinking out of the box especially for 0-5 or early year learners, well, you’re turning them into henry for. If you are an experienced curriculum writer, you can, of course, incorporate your own ideas into creating a schooling system that provokes thoughts than grades. How are you going to invest in education as a Kenyan entrepreneur in 2020?
We all want to think and grow rich like napoleon hill or being badasses at making money. But do we know how to attract the wealth we desire or use the wealth we desire well? Well, I can share a story. In 2012, I landed into financial victory. I made more money that my early teen could imagine. I invested the money wisely for years but greed got the better of me in 2017 when I decided to get into debt without realising it was debt. wtf, I hear you saying. Wtf I say to myself. You know, debt is so sweet but so hard to get out of. Have you ever seen a Kenyan service helping with debt management and helping you create a plan to get out of debt? Are there financial services which help one learn about loans and what kind of loan to take as a Kenyan. Many Kenyans make wrong choices even when they have loans buying unnecessary non-required goods like luxury cars for showing off. When Kericho tea farmers reap benefits for their teas what do you hear? They don’t plough the profits back into the industry but they rip their businesses off by sharing the profits with hookers. Wouldn’t you enjoy getting a financial planner to help you get out of debt? I know I would, I’m 2M in debt and need a plan. Instead of thinking of how to start a bank think of how to help solve financial problems to people.
The entire world is adopting urban transportation as a way of resolving the congestion in the cities. The urban transportation is called micro-mobility where people are going to work riding their scooters and electric bikes. In Kenya, Nairobi being a great culprit the congestion is not only discouraging but annoying with hootings, delays. A study conducted said that Nairobians lose money and Nairobi loses billions because of the congestion. Imagine introducing a mode of transport like scooting to work or electric bikes which carry two persons or one. Also, the entrance of luxury travel modes without getting thrown out of the seats using ‘sambaza’.
How many times have you as a Kenyan cried because of kplc. How many times have you wished kplc went out of business but they don’t. The energy industry in Kenya is the most underutilised with kplc being the only energy supplying company. Companies like Chloride Exide have tried to counter that but to an average Kenyan, paying 1000 to have batteries installed is more than a hassle of paying 2 dollars to kplc and have tokens installed and instant electricity.
Investing in energy industry requires capital and intensive marketing. Energy doesn’t have to include only solars and generators but also windmills and renewable energy sources.
How many manufacturing industries do you see in Kenya? And almost all of them are owned by Indians. You don’t have to invest a lot of money at first but acquiring the necessary machines and equipment and being niche. For example, a Kenyan entrepreneur can invest in farm produce like coconuts by producing cold-pressed coconuts and other coconut products like charcoal.
The key in manufacturing investment is being niched and starting small like a home-based industry. And also fulfilling a need for the customers by tapping into an industry they’re passionate about.
The tourism industry is a backbone for the Kenyan economy. But when a tourist company is started in Kenya it serves the same old purpose in the same old way. For example, why not go into green tourism where people travel in solar enhanced cars to enable their charging. Also, the tourism industry is underutilised because the niches are the same old niches. For international tourists while the Kenyan tourists are left behind with no one to cater for them. Also, the conversation of the environment must be an area of tourism most neglected with game parks/reserves littered with trash.
With the invention of google/bing and yahoo, you’d think that Kenyans would take this free medium of information would help in creating jobs. A key investment niche to tap into as a Kenyan because you can create jobs by starting agencies or online jobs boards. Online media/marketing also helps in getting businesses to as many eyes as possible through platforms like Facebook/Instagram. That’s why I took the initiative to teach you how to make money online as a Kenyan because the opportunities for businesses are endless online. As a Kenyan investor, you can help educate for free or with books. When many Kenyans come forward as internet millionaires/billionaires the rush for content created by Kenyans gets appreciated. I mean, we love to see examples. You can also invest in teaching businesses how to invest in digital marketing and blogging and SEO because of that
These Kenyan industries are the best to invest in 2020. These niches are either underserved or untapped or simply depending on monopoly. These niches for the Kenyan entrepreneurs to take and give it a new spin, make it new or sustainable or healthy. Many Kenyans are becoming aware of what to consume/eat/ or treat their environment thanks to social media influencers or the internet like google. By investing in these industries, you are turning yourself into a millionaire and especially if these industries are online. Because online media in Kenya is also an untapped niche.