How to Invest 1000 in Kenya: Sh. 1,000 may seem like a little amount to start saving with. But when you know the power of every shilling, then you’ll appreciate the potential of Sh. 1,000 in wealth creation. According to a video blog by entrepreneur and celebrated business journalist TerryAnne Chebet, there are multiple ways you can start investing with Sh. 1,000. These including investing in stocks, bonds, chamas, treasury bills, and small businesses.
To achieve these savings, that would otherwise seem gigantic, you must start by saving. Ms. Chebet recommends that you begin by saving at least Sh. 1,000 per week. “There are many ways you can do this. You can save via your phone or your bank. The trick is to put it in a place you won’t access it easily,” she said.
You can achieve this figure by restructuring your daily budget. “Cut the things that seem little. Start carrying your food or coffee from home to the office instead of buying in town,” she said. “Once you cut these things, compile the amounts and save.” At the end of the month, you’ll have about Sh. 4,000 extra savings which you can invest in MAkiba.
Ms. Chebet also highlighted bonds and treasury bills which you can start investing in. Here, the most appropriate platform you can use is the MAkiba, which you can invest in with as little as Sh. 3,000. Your annual interest will be 10 per cent. In addition, you can pile up you savings by regularly contributing into your investment.
Another investment you can make once you create some capital with your Sh. 1,000 savings are stocks and money market funds, and chamas.