I have Kshs 1.5M lying dormant in a bank at Mombasa, and I need to invest that money. Any advice would appreciated, especially the money markets.

It's always nice when opportunity meets preparedness.
I've a perfect business suggestion for you, drop me a line at jsaitoti(dot)gmail(dot)com
Your seach stops here.

How much interest is the bank paying you?

If it is less than sh7,500 per month, get the money out and put it in a unit trust while you think about what to do with it.

I have a similar predicament but am torn between buying an eighth an acre in Kite for construction of my home or buying and acre in a slightly far flung area(Thika/Kajiado county) to sub-divide into 40 by 80s, hold for like three years then sell. I don't have ready money to build my house but am worried about the rate of property appreciation, visa v what I will get when i sell the plots. The rate of uptake of the plots is of major concern