Best investments to do that will make you a millionaire in Kenya 2023

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There are a number of investments you can make in 2023 in Kenya to become a millionaire. What you should avoid is indulging in destructive behavior that will consume most of your income. In case you have constant income and you want safe investment avenues, here are the ways to invest your money:

Buy shares in Safaricom & KPLC

KPLC and Safaricom are two companies you should buy shares from this year 2023.KPLC shares price is expected to increase exponentially as the company returns to profitability. If possible, buy shares when the year is starting.

Start with as little as Ksh100, 000 and grow the money over time.

To start investing, look for a reliable stock broker, open a CDS account and deposit money.

Buy Unit Trusts

Unit Trusts are not common among the average Kenyan, but they are among the best investment segments in Kenya. You can invest as low as Ksh 5,000.

The best thing about Unit Trusts is that they are not prone to risks, your money is safe. Unit Trusts pay interest on daily basis which range between 6%-25% annually.

Buy land

You can buy land for speculation or to sell at a later date.Some of the best places to buy land include: Kenyatta Road, Joska, Ruai, Kitengela,Kiserian,Ngong,Thika,Nakuru,Eldoret and Mombasa.

You will only buy land when you have money for yourself—don’t spend all your money in buying land and remain with nothing to spend.

You can buy land for Ksh 1 million and sell the same for Ksh3 million by the end of the year.

Save your money in Fixed Income accounts

Instead of saving your money in savings account, open a Fixed Deposit account and earn interest monthly. Fixed Deposit account will also instill saving discipline in you.

If your salary is Ksh 100, 000, you can save at least Ksh 30,000 monthly. By the end of the year, your account will have more than Ksh350,000.

Join a Sacco and buy shares

Identify one stable Sacco and join, then start buying shares. There is no company in Kenya that pays better dividends than Saccos.If you manage to buy shares worth Ksh 300, 000, you’ll get over Ksh 20,000 annually as dividends

Build apartments

In Kenya, the best investment to make is to build apartments. You’ll spend a lot of money in building the apartments, but be sure of reaping big. In Nairobi, look for land in Eastlands that’s where the population is high

Invest in bonds

Buy government bonds, buy treasury bonds. These two are risk free but they are long term. If you want to make millions, buy bonds worth more than Ksh1 million.

Invest in educating someone

Paying school fees for someone is also an investment. It doesn’t matter whether it’s your child or not, but make sure you pay school fees for someone. Sometimes such things end up inviting blessings.

Invest in your health

Your health is very important, do physical exercises, avoid alcohol and eat healthy food.

Start a profitable business

Identify a profitable business and inject capital into it.You can also partner with someone to run a venture. You can start a hardware shop, PlayStation business or a restaurant. You can sell Turkey clothes, smartphones or electronics products. You can also sell cars.

Invest in Cryptocurrency

Cryptocurrency is a very risky venture but worth taking. In this world you can’t go far without taking a risk. If you are already a millionaire, start investing in cryptocurrency and you will multiply your income.

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