When it comes to investing, we all look for business opportunities with the most profitable returns or at best with high demand. If the Kenyan economic forecast for the year 2024 is anything to go by, 2024 will be a year of prosperity in terms of investment. There are a number of opportunities available for investment in the different sectors of the Kenyan economy. Here is a list of the top profitable opportunities to invest in this year.

Agribusiness investment

A venture into the agribusiness sector in both small and large-scale activities is a profitable area to invest in this 2024. With the increasing rates of unemployment especially amongst the youth, agribusiness offers a solution in terms of job and wealth creation given that Kenya is also an agri-based economy. Some of the profitable areas to invest in include

• A hatchery for egg production
• Fertilizer distribution
• Rabbit production
• Worm farming
• Construction of livestock houses
• Offering consultancy services to farmers
• Offering agricultural financial services.
• Poultry and pig farming
• Greenhouse farming and many more.
• Onion farming
• Avocado farming Maize Farming

Real estate investment in Kenya

Kenya has witnessed an increase in its population over the years. This increase in population has led to a demand for housing in growing towns and an increase of residential property values in the year 2024. This trend is expected to continue in 2024, therefore, making real estate amongst the top profitable ventures for the year. In real estate, you might want to invest in construction, land, rental, consulting, architectural designs, or real estate agency. For students without enough money to invest in real estate consider real estate tech ideas to come up with. The best towns for real estate investment in Kenya are Rongai, Kitengela, Muranga, Kiambu, and Machakos

ICT (Tech) investment

Ict is one of the top investment opportunities for investors in the year 2024.  This year is expected to usher in an era of increased ICT economic-related activities in the country. This has been evident in the growth of e-business, mobile money transactions, and ICT startups in the previous years. Some of the opportunities for investment in ICT are:

• Film animation production
• Cyber security and anti-fraud systems
• Mobile and web business transactions
• Mobile and web applications
• Data aggregation
• Media Files Licensing
• Informational Sites
• Cloud Hosting

Stock market in Kenya

Investing in the Nairobi Securities Exchange (NSE) through licensed stockbrokers and investment banks. You can acquire shares through any broker of your choice. 2024 is an ideal time to invest with the NSE since it is expected to display a better performance after performing poorly in the previous year due to a number of factors like an unstable economy. Best companies to invest in Kenya are Safaricom, Equity Bank, KCB Bank, Co-operative bank, etc.

Investing in Tourism in Kenya

There are a lot of opportunities to invest in the tourism sector. Kenya is amongst the top tourist destinations in Africa and the government is also committed to providing a tourism friendly environment to enhance tourism. Some of the available opportunities to invest in tourism include;

• Tourist hotels
• Game lodges
• Tourism and hospitality training
• Amusement parks, restaurants, casinos, and clubs

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Renewable energy investment

Kenya is one of the most active countries in terms of embracing renewable energy in Africa. An overwhelming 70 percent of power in Kenya is sourced from renewable energy. There are many profitable investment ventures in the Kenyan energy sector from renewable sources such as:

• Biofuels
• Solar, wind, and geothermal power generation
• Innovations in the renewable energy sector
• Drilling of geothermal wells
• Cleaning services

Check out the Kenya Renewable Energy Association website

Sacco investment in Kenya

Savings and Credit Co-operative Society have enabled the Kenyan micro-financial sector to grow over the years. The returns from an investment in a Sacco come in the form of dividends from interests on loans. Some of the best Saccos to consider investing in Kenya include Mwalimu Sacco, Stima Sacco, etc.

The best way to generate passive income in Kenya is through investing in reliable money market funds, Sacco Shares, Dividends Stock at NSE, and Treasury bills and bonds.