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If you are a single mother in Kenya, avoid chamas because they won’t generate profits. The best ways to invest money include:
Money market fund
Money market Fund is the best way to invest your cash. Currently, the annual interest rate is 13% to 18%. If you invest Ksh1 million into money market fund, you will earn Ksh 130,000 to Ksh 200,000 per year after tax. CIC,Old Mutual and ICEA lion have some of the best MMF in Kenya.
Join a Sacco
Another best investment is to join a Sacco where you buy shares and save your money. Your shares will yield interest of 12% to 18% per year. You will also use the savings to get a loan for developments.
Build rental houses
Rental Houses will yield passive income. If your income is high,buy a plot and build rentals. You will solve your financial problems forever.
Invest in Cryptocurrency
Cryptocurrency is a good place to invest your money. Ksh 1 million will yield over Ksh200,000 per year. Binance is one of the best companies to invest in.
Fixed Deposit Account
Instead of saving your money in savings account which does not earn interest, open a fixed deposit account and save your money there. Most banks pay 4% to 8% per year for your savings.
Invest in Mshwari
Mshwari will pay you interest of 6.3% per year. Save as little as Ksh 1,000 every month and earn interest. As long as you have an Mpesa account, you will automatically be allowed to invest.
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