5 Most Profitable Online Businesses In KenyaPosted on 2017-09-13
Kenya has often been lauded for having one of the highest numbers of people with internet access in Africa. The speed of both mobile and broadband internet ranks among the top 50 countries worldwide.
To put that statement into perspective, by the beginning of this year (2017) the number of Internet users in the country stood at 39.4 million people out of about 48.5 million people that call Kenya home.
Reports have often indicated that a big percentage of those with internet connection in the country do so through their mobile phones. This has largely been enabled by reduction of smart phone prices in the country.
It is for this reason that most people are getting into online businesses in a bid to cash into this big and ever growing market of internet users in the country.
Despite the growing number of online businesses that are thriving in the Kenyan market today, Kenyans have a few favorites that they love to consume and below are what we think are the top five.
1. Online Shop
Anyone on social media, be it Facebook or Instagram will attest to the fact that these sites are no longer just networking sites but market places for different people selling different things.
If you have a boutique or an electronics shop or maybe you do not have physical shop at all, these sites can be your shop.
There are hundreds of pages selling clothes, shoes, jewelry, electronics etc on social media sites and also websites that have been created by different business to sell merchandise.
Great examples include OLX, Jumia Kenya, Kilimall, Pesabazaar.com that sell different products and services and the reason why this is a number one favorite for Kenyans is that it offers convenience.
If you do not have enough time on your hands to go looking for a new phone for example, many websites have pictures and prices of the top brands in the market and will actually have the product delivered after purchase. Everything is now at the click of a button.
2. Transcription/Online Writing
Much as a majority will go to the university and college to study for a particular course, not everyone will be fortunate enough to get that office job. Unfortunately bills have to be paid and so Kenyans have found other ways to make money.
Online writing and transcription has become a favorite for Kenyans especially because you are your own boss and work at your own schedule.
Support groups of those in this line of work have actually been formed on social media sites such as Facebook where Kenyans from different parts of the country support each other and even share information on where one can find different online writing and transcriptions.
In these same support groups, people have created a business of training others on how to tackle the online writing jobs.
3. Online Sports Betting
You must be living under a rock if you live in Kenya and have not heard of at least one of these terms: Sportpesa, Betin Kenya, Betika, Betway, Betyetu among others-the list is endless.
All these are sports betting companies that are making a killing thanks to the general love of sports and the love for Kenyans to make some quick and easy money.
A recent report actually pointed out that Kenya has the highest number of betting youth in Sub-Saharan Africa standing at 76%.
The report said that those who are into betting and especially the youth will spend about Sh5,000 per month to mostly bet on football and with 96% of those betting doing so on their mobile phones.
The whole idea of betting is putting in some money in support of for example a particular sports team with a match prediction. If your prediction is right then you win a set amount of money and if you are wrong then you lose what you had put in.
Kenyans have found this to be a great way to make a little extra cash to push through the rough times of the month or have a little spending money for the weekend. However, a lot of money has also been lost in this game of odds.
4. Online Travel Agencies
Everyone has the desire to travel and see the world or just their country but that sometimes can be hindered by lack of information on potential destinations. This is where online travel agencies are making a killing.
Travel agencies take on the hustle of hotel bookings and travel arrangements for you. Some of these businesses take it a notch higher by offering and option of comparing prices of hotels. With this you are assured of getting a hotel with acceptable prices and at a price your pocket can handle.
Some travel agencies such as Bonfire Adventures for example put together packages for their clients that includes a destination travel details to and fro, accommodation and an itinerary of places to visit so all you have to do is pay and show up.
The reason this online business is one of Kenyans is that the pressure of looking for an ideal destination, making travel arrangements and finding the perfect place to stay is taken off your shoulders and all at the click of a button and at your convenience.
5. Online Financial Services
Thanks to the internet penetration in the country, the banks are not left behind and most if not all have taken their services online.
The days of queuing at the banking hall to seek services such as transferring funds from your account to another, opening a new account, and keeping a track of your finances is a thing of the past.
With online banking services, one can just login and enjoy some service at your convenience without having to work around the schedule of the bank and its open hours.
Some of the services accessible through online banking include funds transfer, checking statements and balances, opening an account, paying bills among others.
With the busy lives we lead, it is obvious why this is a favorite. You can pay your bills on the move, keep a track of your finances and even make online purchases.
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