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The global financial crisis hit Kenya hard in 2008. The economy tanked, the currency changed hands often, and people were left feeling behind. As a result, the central bank in Nairobi raised interest rates to 5 percent — the highest rate in Africa at the time. Many businesses and households scrambled to find ways to survive. Weathering the storm was no easy feat. Even with an acute sense of recession, Kenya managed to produce some of Africa’s most talented and hard-working women leaders. We can learn a lot from their example. Here are the do’s and don’ts of investing in Kenya.
Use your reach
A big reason why many people make the 2014 Super Bowl cut below the top tier of victorious teams is their inability to afford the costs of travel. With so much travel involved, how can you get to the games and back home in such a short amount of time? While there are plenty of options, the easiest and most effective way to get to the games is to fly. No matter how much money you have, you will still need to purchase plane tickets and hotel rooms for your team and friends.
Investing in a small business is an excellent way to get your foot in the door. In order to succeed, you must have the skills and knowledge to run a business. If you have no experience, start a company. If you have no idea where to start, find a mentor. A mentor can be a peer, a business leader, or a friend. A friend can help you network. A peer can help you network with like-minded people. A leader can become your mentor or a friend as well.
Always be reading
Rather than committing to a specific investment, stay open-minded to different options. Many people get their feet wet quickly by putting all their eggs in one basket — then missing out. Investing in a diversified portfolio of stocks, bonds, and assets is a more effective way to weather the storm.
Don’t forget to grow your capital
One of the best ways to protect your investment is to grow your capital. This means investing in real estate and other assets that will give you more return on your investment. The faster you start, the more time it will take for the market to absorb all the losses. Once the market feels the sting, you will be able to get your money back from all of the investments you have made.
Investing in specific stocks or businesses can help you make a small profit, but the long-term investment is what matters. You can’t just invest in stocks and hope for a good result. You also can’t just invest in companies and hope for a good result. Your investment portfolio needs to include a mix of both growth and stability. You can’t just put all your eggs in one basket and hope for a good result. You also can’t just put all your money in one company and hope for a good result. Your investment portfolio needs to include a mix of growth and stability. Investing in Kenya, a young and developing country, can help you achieve your goals. Many companies are going into deep trouble because of a lack of jobs and a lack of investment. Investing in companies that are going to survive the next generation is a great way to ensure that your money is being spent wisely.