The Current Culture in Kenyan Economy

I was going through my Twitter this evening; I found certain things that caught me thinking all day. A random Twitter user named Dendricck did a poll on Twitter asking Kenyans what they would do with a stable source of income.

From the poll, a total of 545 votes were cast, and the following are the outcomes;

a.      Take a loan and buy land – 13%

b.      Save in saccos – 21%

c.      Invest in markets – 28%

d.      Start up a side hustle – 38%

So I took some time to think about it. If I used this as a sample to represent the entire country's population, there is so much to read about the current state of the economy and how it has changed our culture as Kenyans. This is how I concluded from the poll;

a.      The fact that 38% of respondents expressed their intention to start a side hustle indicates a strong entrepreneurial culture in Kenya. This suggests Kenyans are motivated to create additional income streams and exploit business opportunities.

 

b.      The 28% who expressed interest in investing in markets suggests an increasing awareness and interest in investment opportunities in Kenya. This result highlights a growing understanding of the potential benefits of investing in financial instruments such as stocks, bonds, or mutual funds.

 

c.      The 21% who mentioned saving in Savings and Credit Cooperative Organizations demonstrate a focus on financial prudence. Saccos are popular in Kenya as they offer members a platform to save money and access credit at competitive rates. This result indicates a desire for financial stability and the recognition of the importance of saving for the future.

 

 

d.      While only 13% of respondents mentioned taking a loan to buy land, it still represents a significant portion of the poll participants. This result indicates that land ownership remains a desirable investment option in Kenya, as it is often seen as a valuable asset that can appreciate over time.

It's important to note that the data from a Twitter poll may not represent the entire Kenyan population. However, it provides a glimpse into the sentiments and aspirations of those who participated. This offers some insights into the economic mindset and priorities of a section of Kenyan society.

 


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