One mistake that we make as Kenyans is following financial advice from the developed world without adjusting for the huge differences in our economies and financial systems.

The one that pains me the most is on using debt as leverage for investments.

1. Loans in KE are more expensive thanks to our high Central Bank Rate and high returns from government bonds. 

Financial institutions would rather lend money to the government than to individuals and businesses.

2. The average benchmark asset in Kenya returns lower than the average cost of lending which is different from the developed markets.

The S&P 500 has averaged higher returns than the average mortgage rate in the U.S. since 1957

3. Mortgages aren't necessarily good long term debts.
They might actually be the exact opposite in Kenya.

4. The worst way to fund your real estate project is using expensive bank loans. The "Use other peoples' money to build wealth" analogy hardly applies in Kenya.

You can't borrow money from the bank and use your tenants' money to repay the same loan.

Rental yields are too low to cover for the total cost of credit