This year 2023 you have numerous opportunities of making money while sleeping in Kenya. Majority of the rich guys earn money through passive income activities. If you have been stagnating financially, this is the best year to jumpstart your financial freedom journey, he have a wide range of ideas to help you achieve your goals.
Here are the best passive income ideas for Kenyans in 2023
- Start a YouTube channel
To start a YouTube channel is free. All you need is your phone and internet, then sign up to YouTube. You’ll take less than 5 minutes to create your own channel.
After creating one, start posting high quality videos. Post for 1 year then apply to monetize with AdSense. To start making money from YouTube, your channel should be 12 months old, it should have at least 4,000 watch time hours and also have 1000 subscribers and above.
Once your channel has been approved, post videos regularly and start making money. With 1 million views, your channel will make at least Ksh 150,000 per month.
There is a point you’ll reach you don’t have to post for you to earn, you’ll earn as you sleep.
- Affiliate marketing
Join the many affiliate marketing companies available in Kenya and earn commissions while asleep. Affiliate marketing is one of the best ways to make money online in Kenya. I also make money through affiliate marketing and it’s a lot. Betting firms, online shops and web hosting companies are some of the best platforms to make money from. In Kenya, Jumia is the best among online store affiliate programs in Kenya. Kenya Website Experts, HostPinnacle and Bluehost also offer you the opportunity of earning up to Ksh 7,000 per sale.
You need social media pages with high following and a busy blog in order to make decent income from affiliate marketing.
- Blogging
There was a time blogging was not a known profession in Kenya but nowadays many Kenyans have joined this sector. Blogging is a well-paying passive income activity. A number of bloggers in Kenya earn as high as Ksh500, 000 per month.
To start a blog, you need a capital of Ksh 5,000 to Ksh 15,000.You need a domain name, hosting plan, WordPress template and internet to use in doing research and posting content.
The primary source of income for bloggers is AdSense. Some bloggers also earn through sponsored content, direct banner ads and affiliate programs.
A blog like Tuko News generates over Ksh 4 million per month.
If your post content consistently for more than 1 year, your blog will start generating money for you while you’re asleep.
- Invest in Saccos
It’s better to invest in Saccos than banks because Saccos offer god dividends every financial year.
This year your main goal should be to join a Sacco. Buy shares from the Sacco and earn money annually through dividends.Saccos will help you to buy land and build your home or apartments to rent.
- Buy Unit Trusts
Many Kenyans are not aware that Unit Trusts are among the best ways to invest money in Kenya. If you invest Ksh1, 000, 000, you’ll earn over Ksh120, 000 annually. This is money you will earn while asleep.
Britam, ICEA Lion, Amana Capital and Old Mutual are some of the companies to buy Unit Trusts from.
- Build rental property
All of us know that if you build rental property, you’ll be earning money forever while asleep. The houses will generate for you passive income monthly as long as you have tenants.
With Ksh 2 million, you can buy land and build bedsitters which will generate at least Ksh20, 000 per month.
- Invest in Mshwari
Mshwari gives loans, it also offers Kenyans opportunities to invest and earn interest. If you can invest even Ksh 5,000 monthly, the money will give birth to decent passive income.
But this kind of investment requires discipline. You have to invest without taking a loan.
- AirBnb
Start AirBnb business and earn passive income every day, weekly, monthly and regularly. The good thing about this business is that you don’t own the houses, you rent them and later rent them out and get paid. You can rent a bedsitter for Ksh15, 000 and charge your clients Ksh 4,000 per night. If in a month you have 10 clients, you’ll make a profit of Ksh 25,000.
Hire someone to manage the business and make money while asleep.
- Invest in shares and bonds
Safaricom, EABL are some of the best performing companies listed in NSE.You can buy shares from those companies and earn dividends annually. Alternatives, invest in government bonds which do not have any risk.
Shares and bonds are long term investment activities and they are very rewarding.
- Buy and sell land
You can buy land in January and sell it by December 2023.Land is one of the few assets that appreciate with time.
- Buy and sell Bitcoin
Bitcoin can be perfect source of passive income, but it needs huge capital. You can buy the Bitcoin for Ksh 1 million and sell the same for Ksh10 million in twelve months.