A consumer survey published in the third week of November, has established that Kenyan youth are the most extravagant in Africa, beating their relatively wealthier counterparts in South Africa, Nigeria and Egypt in consumption spending.
Thirty-two per cent of Kenyan youth interviewed in the 'Deloitte Consumer Review' report said they prefer buying well-known brands because it makes them feel good, compared to 25 per cent in South Africa, 23 per cent in Nigeria and 20 per cent in Egypt.
Kenyan youth also spend more cash just to keep up with the rapidly changing trends in the fashion world.
However, can these youth splurge
similar amounts of cash in investments? Do they even know about the various ways the same money they spend on luxury can be invested for passive income?
Read the BECOME A MILLIONAIRE prt 1 & 2 to learn how to be different.
Sourced from allAfrica.com
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