Ten Passive Income Ideas to explore in Kenya
Passive income ideas in Kenya are an excellent way to earn money while you sleep. Passive income is earned and paid regularly without the need for additional activity.
As a result, passive revenue streams in Kenya are those that need as little work as feasible. It might range from a few hundred to thousands of shillings per day, depending on how much work you put in.
You make money once and it keeps coming without any additional effort.
Supposing this is you, congratulations! You have just discovered the key to financial independence and freedom.
Passive Income Ideas in Kenya
Now that we understand passive income, let us get into Kenya’s list of passive income ideas.
1. Investing in the Nairobi Securities Exchange
Investing your assets in the Nairobi Securities Exchange (NSE) is the first passive income source in Kenya on our list.
You can buy shares in companies listed on the Nairobi Securities Exchange here, which means you are purchasing a stake in their business.
Shares might be either public or private. Public shares are more frequent and provide voting rights as well as dividends (a proportion of profits), whereas private shares do not provide voting rights and do not pay a fixed dividend.
In Kenya, stocks and bonds are traded through the NSE. This implies you can sell your shares for a profit or a loss, depending on the performance of the company’s stock.
To begin trading stocks, you must first open a CDS account with a brokerage firm of your choice. You must then deposit funds into your account before you can begin buying and selling stocks.
2. Purchase Real Estate
Investing in real estate is another way to generate passive income in Kenya.
The fundamental reason is that real estate prices never fall and always rise.
You can buy a house and rent it out or flip it to profit from the value increase.
Because you can generate many revenue sources from the same residence, there are numerous passive income ideas here.
3. Earn Passive Income from Blogging
In Kenya, the internet has revolutionized the way we do business.
Reaching out to your target market is no longer tough. You can utilize your blog as an online store.
If you have a strong interest in something, you can even teach others how to accomplish it by starting a blog.
Blogging isn’t just about making money; it’s also about sharing your perspective with the rest of the world.
It will take some time before you start earning money from blogging, but it is well worth the wait.
For example, if you set out to develop a food blog and then publish your recipes on that blog, people will eventually start reading your site and, now and then, they may buy into what you are giving. This is a monetary value to you.
The objective here is to establish a relationship with your readers by providing them with valuable content.
Click here for a full guide on how to start a blog.
4. Affiliate Marketing
This kind of passive income involves you promoting someone else’s goods and receiving commissions on sales made via your website/blog.
The thing you are promoting could be a service or simply knowledge. You might also try becoming an affiliate marketer and advertising other people’s items in exchange for a commission on sales.
This strategy has earned a lot of money for many affiliate marketers. It all comes down to how much effort you put in.
5. Working as a freelancer
If you are a freelancer or have the talent to market online, this passive income idea in Kenya is ideal for you.
The first step is to develop a website where you can showcase samples of your work. You should also create an account on freelance websites like Upwork, Guru, Freelancer, or PeoplePerHour.
If you are a graphic designer, for example, you can construct a portfolio website and list your skills on these sites. Another possibility is to write online or make films that people will pay for.
Remember that the purpose here is to provide value that others will purchase through your website/account.
Read also, Best Web Hosting Companies in Kenya.
6. Online Taxi Service
Using your automobile as a taxi has become another passive income option in Kenya, thanks to businesses like Uber and Bolt.
All you need to do is hire a driver and register with Uber or Bolt, and they will send you clients who require rides. Your driver picks them up, drops them off, and then handles payment through your phone.
You can even start your own taxi company and earn money passively from it.
7. Create an Online Course
Creating an online course is another way to get passive money in Kenya.
This may appear to be a lot of work, but once completed, you can sit back and watch the money pour in with little effort.
Courses will always be relevant and in high demand. People spend a lot of money on education because they know it will help them in the long run.
8. Sell Digital Products
Selling digital products is another way to generate money online in Kenya.
This is an excellent passive income opportunity for authors. If you’re a great writer, you might like publishing books on Amazon. Kindle Direct Publishing allows you to publish nonfiction or fiction books.
If you’re not a natural writer, consider writing an eBook for folks who need assistance with a specific subject and selling it on Amazon.
9. Invest in Cryptocurrency
Another passive income option in Kenya that you may invest in to make money online is cryptocurrency.
You can invest in a variety of cryptocurrencies, including Bitcoin, Ethereum, and Ripple. If you’re not sure where to begin, read my beginner’s guide to cryptocurrency investing.
10. Get an Online Writing Account and Hire Writers
Another passive income idea in Kenya that I must highlight.
If you are an excellent writer, you can offer your services to those that require written content for their websites or blogs. Many online businesses are looking for writers and will pay you to produce unique content for them.
The advantage of this method is that it is scalable; you can hire writers to help with the content while also earning money. This is one of the Kenyan passive income options I propose.
Passive Income Ideas in Kenya Summary
Ideas for passive income abound in Kenya. All you have to do is look for them and go after them.
Remember that consistency and quality are the most important factors here. To earn a living from your passive income idea, you must first produce something of worth and then regularly offer that value to others.
This does not have to be difficult. You can earn money online in Kenya by simply starting a blog or an Instagram account and selling things.
I hope this post has shown you that passive income opportunities abound in Kenya.