Have a look at the graph above. Go ahead, you can click on it to make it bigger. As you can see, the internet usage rate in Kenya is growing rapidly, especially when compared to other countries which are slowing down. In those countries, the internet is already mainstream meaning that a lot of people make money online. However it also means that it is much harder to make money online because there is a lot of competition. Compare this to Kenya and you realise that while at the moment you may not be able to make much money online, it is much easier to launch something and have it do well in Kenya. But this will not last forever.
I think that now is the time for aspiring internet entrepreneurs to attack and completely own internet business niches. It may take a while before you get super-impressive results but if you invest in online business now and take root, you will be reaping huge rewards as more and more people and businesses get online in Kenya.
So what are the best niches to invest in? Going by what works in other places the following, in my opinion, are some of the most lucrative areas to invest in:
Online shopping in Kenya is nothing to write home about at the moment. But as the number of people who are online grows, it will definitely become very lucrative. Just as Amazon.com grew from nothing to one of the largest and most powerful businesses, you can grow a small little online shop to massive proportions and potentially millions in the bank.
Food, recipes and cooking tips are traditionally very popular. This is a saturated market in more developed countries but is quite accessible locally. You should get creative but the basic idea would some website that provides tips on cooking and recipes from around Kenya and possibly the world.
Making Money (or Saving Money)
I think it would be safe to say that literally everyone has an interest in how to make more money, save more money or reduce their expenses. Why not position yourself to cater to this need? There are so many different ways to approach this. Some are:
- Personal finance
Almost everyone has some thing that they want to improve about themselves. In fact, in developed countries, there are countless online “gurus” providing information and guidance on things as diverse as healthy living, career advice, money management, relationships, etc. Your job would be to motivate and instruct others on how to improve their lives in a certain way.
Believe it or not, this is big online. I’m thinking that as big as it is in other countries, it could be even bigger locally. I put the word supernatural in quotes because it can cover many different things from horroscopes to planets aligning with your birth date to psychic readings and even witchcraft/wizardry.
Like me, you may not believe in this stuff but lots of people do and an opportunity exists for you to fill their need. As usual, do not do anything illegal. 🙂
So there you have it. We are at a point in time where you can take root in an industry early and absolutely dominate it as it grows. I am sure a lot of smart people are already diving in and establishing themselves. What are you waiting for?
If I missed any important opportunities, don’t worry. My list is not conclusive. 😉