Having an extra income stream, aka side hustle, is in no doubt paramount if at all you would like to join the millionaire’s club before the 40s come knocking.
Luckily, making money in Kenya has become easier today than it was 10 years ago. Opportunities are numerous and thanks to innovative and convenient technologies, you can easily spot the opportunities.
Here are some simple everyday ways Kenyans have used to make up to Sh2.4 Million annually.
1: Moses Ngugi (not his real name) hangs around the Department of Immigration. People are often not aware that they need to be in a shirt in order for them to have a photo taken for their passports. So Ngugi gives them an opportunity to hire a shirt at Sh100. An amount that can easily be sent by Ngugi’s customers via mobile transfer with no transaction costs.
In a day, Ngugi makes about Sh10,000 and if all goes well Sh200,000 in a month and a possible Sh2.4 Million annually without breaking a sweat.
2: Kule Samson aka Kenny Rodgers is a street musician you have probably passed by him along Moi Avenue or Kimathi Street. What you may not realise is that he makes an average of Sh1,500 each day through his performed renditions of popular country love songs.
He deposits this amount on his phone at the end of each day for security reasons.
3: Cindy is a fashion enthusiast with a love of handbags, she simply takes photos of classy bags she has bought and posts them on her social media (bundles are quite Flexible nowadays). What started out as a hobby has now turned into an enterprise.
She now buys the bags in bulk and resells them on her page at a profit of up to Sh2,000 per bag. Clients conveniently pay through her till number and she sends the bags to them.
4: Small-scale bakeries are sprawling in Nairobi neighbourhoods rapidly. Kenyans are making profits of more than Sh1,000 each day from such small-scale food enterprises. If you choose to follow suit, your growing business will need meticulous bookkeeping which you don’t have time for.
As a simple solution, transact money through your phone and have Safaricom mail you a statement to keep track of progress while maintaining good account records.
5: Simply SAVE. Though this may take longer than a year, with a lock savings account on your phone, you can set aside a certain amount of money each day and get to your goal without chipping away at your savings.
M-Pesa has made all these million shilling ventures possible for Kenyans over the past 10 years.
Celebrate 10 years of our very own mobile money innovation by using it to make money in your own side hustle.