What’s The Most Profitable Business in Kenya in 2024?

It is common for most of us to think that the most profitable business in Kenya in 2023 will be the most profitable business in Kenya in 2024.

But the most valuable and most lucrative companies won’t come easy as many people believe.

It takes a lot of hard work and dedication to build something that can change lives as it continues to make you profits.

So, what is the most profitable business to start in Kenya in 2024?

There are a few contenders but it’s hard to say for certain.

However, there are a couple of businesses that come to mind; most notably agriculture and technology.

Both of these industries have seen tremendous growth over the years and it doesn’t look like they will be slowing down anytime soon.

And why is this great news?

This is great news because there are a lot of business opportunities in these fields that you can explore in 2024 to make money.

Just make sure you do your research before diving in headfirst!

Most profitable business Ideas in Kenya in 2024

Again, what’s the most profitable business in Kenya in 2024? Here’s the full list.

1). Manufacturing.

The manufacturing sector is booming in Kenya and is expected to grow even more in the next few years.

This presents a great opportunity for entrepreneurs who are looking to get into this industry.

There are many different types of manufacturing businesses that you can start, meaning, there is something for everyone.

Just make sure you do your research to find the right one for you.

Some of the best categories to consider venturing into in manufacturing include: – textiles, plastics, and chemicals.

But you would also make a killing in:

1. Food processing – beverage production
2. Metal fabrication – construction
3. Electronics assembly – telecommunications.
4. Cement production – infrastructure development
5. Furniture – retail
6. Paper production – publishing

You name it.

2). Agriculture.

Agriculture is another industry that is seeing tremendous growth in Kenya.

This can be attributed to many factors, chief among them being the population explosion and increasing demand for food.

As an entrepreneur, this provides you with a great opportunity to get into this industry and make some serious profits.

There are many different types of agriculture businesses that you can start, so again, there is something for everyone.

Some of the most popular ones include: – crop production, dairy farming, poultry farming, and fish farming.

But you could also consider venturing into:

1. Animal husbandry – meat processing
2. Organic farming – agro-processing.

You get the gist.

Just make sure you do your research to find the right one for you.

3). Technology

Technology is another industry that is seeing tremendous growth in Kenya and presents a great opportunity for entrepreneurs who are looking to get into this industry.

This can be attributed to some factors, some of which include the increasing demand for technology, the growing middle class, and the government’s focus on ICT.

As an entrepreneur, this provides you with a great opportunity to get into this industry and make a profitable business out of it.

There are many different types of technology businesses that you can start, so again, there is something for everyone.

Some of the most popular technology businesses to start in 2024 include: – software development, website design and development, and mobile app development.

But you could also consider venturing into:

1. IT services
2. Telecommunications
3. Data entry and retrieval.

You name it.

Just like in any other business, make sure you do your research to find the right one for you.

4). Real Estate.

You can not mention profitable sectors in Kenya without mentioning real estate ventures.

This is because real estate has always been a lucrative venture in Kenya and it doesn’t look like this will be changing anytime soon.

As an entrepreneur, the real estate landscape of 2024 provides you with a great opportunity to start a business and make money doing what you love.

These are some of the best businesses you can start in 2024 to make profits in real estate: – property development, property management, and real estate brokerage.

But you could also consider venturing into:

1. Construction
2. Landscaping
3. Architecture.

5). Microfinance.

Have you noticed something strange in the Kenyan marketing space? You can’t walk one mile without seeing a billboard marketing phone loans, car loans, business loans among other types of loans.

This is a clear indication that there is a lot of money to be made in the microfinance industry in Kenya.

If you have what it takes to start a microfinance business in Kenya in 2024, then know that you are about to start making serious money.

There are many different types of microfinance businesses that you can start in Kenya in 2024, including owning a credit union, money transfer service, and/or pawn shops.

You could also consider venturing into:

1. Loan sharking
2. Debt collection
3. Asset securitization.

They both offer great opportunities to make money in 2024.

5). Education.

The education sector is another industry that is seeing tremendous growth in Kenya and presents a great opportunity for entrepreneurs who are looking to get into this industry.

This can be attributed to many factors, some of which include the increasing demand for education, the growing middle class, and the government’s focus on education.

As an entrepreneur, this provides you with a great opportunity to get into this industry and make a profitable business out of it.

There are many different types of education businesses that you can start in 2023, so again, there is something for everyone regardless of your:

1. Experience levels
2. Education background
3. And financial status.

Some of the most popular education businesses to start in 2024 include: – starting schools, colleges, and universities; training and development institutes; and educational content publishing.

But you could also consider venturing into these other small businesses in the education sector if you don’t have enough capital to start your private university.

1. Offer tuition services
2. Tutoring services
3. School supplies.

This is just a taste of the many different types of businesses that you can start in 2024 to make profits in the education sector.

Do your due diligence to find something that fits you and your skill set.

6). Health

Have I already mentioned that Kenya is a great place to do business?

The health sector is one of the most lucrative sectors in Kenya and provides entrepreneurs with many opportunities to start profitable businesses and make money.

Just like in all the other sectors, this can be attributed to some factors, including the fact that there is an increasing demand for quality healthcare services, the growing middle class, and the government’s commitment to improving the health sector.

As an entrepreneur, this provides you with a great opportunity to start a business with the skills that you already have or skills that you can easily pay for.

Just like in the other sectors, there are many different types of businesses that you can start in 2024 in the health sector, so again, there is something for everyone regardless of your:

1. Experience levels
2. Education background
3. And financial status.

Some of the most popular businesses to start in 2024 in the health sector include: – starting hospitals, clinics, and pharmacies; medical equipment suppliers; and healthcare content publishers.

7). Juakali artisan

The Juakali artisan industry is made up of artisans who make products from recycled materials.

These products include: – bags, wallets, and other accessories; – jewelry; – furniture; and – home décor.

The Juakali artisan industry is a great opportunity for entrepreneurs who are looking for a business that they can start with little capital.

This is because most of the products in this industry are made from recycled materials, which means you don’t need to spend a lot of money on start-up costs.

In addition, this industry is seeing tremendous growth in Kenya and provides entrepreneurs with a great opportunity to make money.

7). Transport

The transport sector is another industry that is seeing tremendous growth in Kenya and provides entrepreneurs with many opportunities to start profitable businesses.

This can be attributed to several factors, including the fact that there is an increasing demand for transportation services, the growing middle class, and the government’s focus on developing the transport sector.

As an entrepreneur, this provides you with a great opportunity to start a business with the skills that you already have or skills that you can easily pay for.

Just like in the other sectors, there are many different types of businesses that you can start in 2024 in the transport sector, so again, there is something for everyone looking to start a profitable business in 2024.

Some of the most popular businesses to start in 2024 in the transport sector include: – starting a transportation company; trucking and logistics companies; and taxi services.

Do your due diligence to find something that fits you and your skill set.

Conclusion.

All these sectors provide entrepreneurs with great opportunities to start profitable businesses in 2024.

So which is the most profitable business to start in 2024 and how much would it cost to start?

You tell me 🤠.