Mobile investment in Kenya
There are several avenues through which an average Kenyan can diversify their financial portfolio. The decision on which investment avenue to use is dependent on the required resources in terms of financial requirements.
Mobile Investment in Kenya: Key tip
It is always advised that one should save at least 20% of his or her gross income. Part of this 20% can be channeled though diverse investment schemes.
There are several investment schemes in Kenya. These include stocks, bonds, bank savings accounts, and lotteries. One of the favorite lottery investment schemes in Kenya is the one being run by several media houses. This scheme allows Kenyans to participate by use of their mobile phone. To some Kenyans, participating in these schemes is one form of investment.
Mobile Investment in Kenya: Kenyans are risk takers
Kenyans are risk takers and culpable of being conned quickly. Reason being, majority of Kenyans always look for way for ways getting easy cash.
This could explain why many people lost their hard earned cash in 2008/9 through the then famous DECI pyramid schemes.
I’m not sure of any other country apart from Kenya where you can find 3 lotteries running on TV at the same time. The promotional messages are so enticing that people have given in to gambling. Everyone wants to make quick cash to meet the rising costs of living, which in my view has made it hard for people to indulge in crazy lifestyles.
Mobile investment in Kenya
Below are some of the most recent phrases used by media houses to lure Kenyans into mobile investment schemes:
Mobile investment scheme 1: Kwachu:
“Win some KES 25,000 or 5,000 to spend on yourself and family this Madaraka day. SMS kwachu to 4848 and you could receive this amount through MPESA.” Tell me in this time economic times, how many Kenyans can resist this temptation, given that in this SMS it is not even indicated that each text costs 50shs
Mobile investment scheme 2: “Tazama Citizen,tazama chapaa”.
These guys are clever, they have their adverts appear before during and immediately after programs mostly watched by Kenyans. I n my view, they give the “winners” of the KES 500,000 pre-authored words to lure the public into sending texts. How comes the winners never say how much they spent on SMSs before landing the jackpot
Mobile investment scheme 3: “Utahama lini?”.
Follow this link for details http://www.youtube.com/watch?v=Lopt3q9cpOk.
This in my view is meant for those senior bachelors who the society feels they have over stayed at their parents place.
Mobile investment scheme 4: 90 million in 90 days: shinda smart.
will not talk about this as these guys were just not SMART as they thought they would escape being noticed by the Central Bank for using Kenyan currency as part of their promotional messages.
Mobile investment in Kenya: targeted for the poor and illiterate
Have you noticed any peculiar thing about the messages above?
If not let me enlighten you on why I think these mobile investment in Kenya target the poor and illiterates.
All the promotional messages or themes are usually done using Swahili words/phrases. This is so because majority of the poor at least understand Swahili, and that it’s this population group that is looking for a quick way out of their low economic status.
Allow me to ask, “why would someone who does hard manual labour at the Nairobi industrial area only to be given a daily wage of KES 100, not respond to the mobile investment schemes aired on television at a cost of 25shs per SMS?” .This Kenyan however doesn’t realise that s/he will have to spend more that 25shs in any promotion to win anything, if not nothing.
Mobile investment in Kenya: the rich get richer
These investments though meant for those in the low economic class only end up benefiting the rich.
In one of these promotions, one of the KES 1 million winners indicated having spent close to KES 5,000 on SMSs. From his KES 1,000,000 award, he used more than KES 5,000 and won another 1,000,000.Tell me something, how many Kenyans have KES 5,000 to spend on such mobile investment schemes that offer no guarantee?
These mobile investments in a way bring to fore the biblical phrase that “to him who had more, more was given”.
Who is a gambler: share your thoughts
I’m however not clear of one thing, are all those who participate in mobile investment in Kenya gamblers?