In the last few weeks, the airwaves have been abuzz with debates of 'prostitutes' leaving the streets to take advantage of the more efficient digital media, the social media platforms. A group on facebook dubbed Campus Divas For Rich Men raised a lot of talk around with people taking sides on the issue. Some were against the group, some supporting it and some dismissing it.
Revelations late last week had it that the page is run by a male disgruntled student who had been dumped by his girlfriend. This group on the outlook is one formed by young women in campus who are looking for financial support and sustenance in exchange for sex. The group's page description reads; This is not a prostitution page, but a dating page for rich men and campus girls ABOVE 18. Therefore whether or not the group is run by a man, it attracted many users, curious people, those who wanted to sell and those who wanted to 'buy services'.
It is understood, life in Kenya has become harder every passing day. High cost of living coupled with high inflation rates (on a downward trend at 6.09% currently) have made many Kenyans explore alternative means of making ends met. Jobs are hard to come and high interest rates on loans offered by commercial banks hinder small businesses from growing. Banks are currently lending money at an average rate of 22%, a rate lower than the 25% they were charging 6 months ago. Many have bills to pay, children and/or siblings to take care of and many other demands in life.
The big question therefore is, has sex become the preferred alternative to trap the elusive shilling, or is it a pure case of developing trends of laziness, greed and degraded morals?
In the case of the facebook page mentioned above, most of the over 45,000 followers are young women who want to 'be spoiled' with money, provided for, paid school fees for and the list is endless. Let us assume these are young girls in college as it is claimed, will the money earned from these escapades sustain their future economic lives, allow them to make savings and maintain the activities as mainstream sources of income? One of our writers at Pesatalk suggested that Commercial Sex Work be legalized for the country to earn more revenue in taxes.
Young men have not been left out in the sex trade as well. Numerous calls to radio stations and discussions on social media show that many young men, especially those in college look for 'stable older women' to provide financially for the men in exchange for sex. It is a reason to worry since there seems to be enough women to meet this end of the bargain and most young men are failing in basic development agendas.
Investment and Saving
Our writer on My Money In My Twenties series notes; 'Your twenties signify an important point in your life, one that will shape your financial future. It is in your twenties that you will probably land yourself a career, get your own place and perhaps start making decisions in regard to marriage and family. Financial decisions you make while in your twenties will to a large extent shape your financial future."
Earning an Income, Saving and Investment are some of the steps that make a difference in someone's life, financially speaking. The earlier one learns the art of saving and Investment, the faster and better their financial lives take shape. Establishing a legal, stable and sustainable way of making an income is a sure step to achieving these tricky steps.
Morality and Laziness aside, these young people engaging in sex for money business should not only consider the risks they come with, but also look at the economic downsides of it. One day you'll be old and not as fit as you are now. What happens when no one wants to pay to sleep with you? Young people should dedicate their time and energy to activities that will make financial sense to them in the long run. It's the only thing that makes sense.
Abacus is the result of over 10 years market experience and is licensed as a data vendor by the Nairobi Securities Exchange
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