03/08/2025
ALTERNATIVES TO SACCOS?
1) Savings accounts in Banks.
~It will earn you interest and you can withdraw up to 3 times a year.
In case you wish to take a loan, it is not pegged on your savings neither do they demand for guarantors. This implies that in case you have an emergency, you can withdraw your savings then replenish later without incurring extra costs.
2) Money Market Funds.
~They will earn you interest over time
you can withdraw all your money any time
3)Treasury bonds.
~you will earn interest that is tax free. Interest is paid after every six months and you will get all your invested amount after maturity. You can start with as low as 50k
4) Real Assets
~you have 500k or 700k, buy a plot in a developing area. Give it 3 or 5 years. It will appreciate by nearly the same price as your buying price. Sell it to the highest bidder and you will have earned some good cash from the asset.
5) Try a hand in business. Weka kibanda ya makaa, open a cereal store, operate a kinyozi or salon, weka mpesa agent, uza kuni in wholesale, start a food kiosk, open a milk bar, operate a pool table, rent out motorbikes as boda bodas, engage in agribusiness or engage in evening hustles that operate on the basis of "mbao mbao" ama hamsini hamsini"
In other words, dont be blindfolded by the dividends narrative to a point of only focusing on when you will retire or when you will die.
Earn when you can enjoy, not when you wish you can enjoy.
Grow your wealth when you can eat from it, not when you can only be treated from it
If you try and fail, you aint the first one.
Rise up, dust yourself and try again.
A good entrepreneur is someone who not only has desire to achieve but also readiness to take risks!
MAY YOUR HUSTLES BECOME FRUITFUL