- In the ever-evolving landscape of business, securing the right funding can be a game-changer. Whether you're looking to expand operations, invest in new equipment, or navigate through challenging times, a business loan could be the key to your success.
- If you're struggling with mounting debt due to high interest rates or reduced income, you might be looking for a way to regain control of your finances. One path you can take to reduce the cost of the loan or monthly repayments is to change lenders through loan buyoffs.
- Being a smart money manager isn't about having a huge bank balance; it's about making the most of what you have! Are you wondering if you're acing the money game?
- “In the spirit of giving back to taxpayers, KRA is also calling on taxpayers to take advantage of the Tax Amnesty, introduced through the Finance Act 2023. The amnesty factors in all taxpayers with penalties and interests accrued as of December 31st 2022," the taxman announced in a statement…
- Some of the key factors identified as the drivers of the loss in value for the Kenyan currency include reduced foreign exchange inflows and the US Fed's tightening monetary policy. The shilling has already depreciated by over 22% in the last 12 months, pushing up the prices of imported goods such…
- It's as if our salaries are developing wings and taking flight, leaving many Kenyans wondering where it all went. The cost of fuel, electricity, and basic commodities such as cooking oil, sugar and maize flour has gone up. Even household items that we previously picked without checking the price…
- Welcome to this week's Money Weekly roundup, where we are going to delve into the latest developments impacting various aspects of the financial landscape. In today’s edition, we'll explore why Kenyans are rushing to keep their money in dollar accounts, the effect of inflation and taxation on new…
- I graduated with a bachelor’s degree in science in December 2019, three months after I landed my first job. I sat my final exams in July 2019. A day after starting my final exams, I got an email from a human resource officer at a food manufacturing company in Industrial Area, Nairobi. I had been…
- We all have a dream car. However, most people do not start by buying their dream car. They start with a car they can afford and work towards their dream car. In this article, we shall explore when to buy your first car. Get comfortable and put your seatbelt on.
- Skincare isn’t just a female affair, it's something that’s all-rounded. Admittedly more women, young and old care about their physical appearance more than their male counterparts. While taking care of ourselves we might end up overspending on skincare and in some cases, you might be overspending…
- Getting an auto loan can be your ticket to owning that dream car you've always wanted. But hold your horses.Before securing that car, there’s a winding road ahead that you must navigate. Otherwise, you might get stuck in a financial traffic jam or with a vehicle you can’t afford. But don’t let that…
- One of the biggest reasons why logbook loans are popular in Kenya is because of the incredibly fast speeds in which funds can be accessed. Many logbook loan providers in Kenya, given the right circumstances, say they can disburse a loan in less than 24 hours from the time of first interacting with…
- To qualify for the Platinum Credit Logbook Loan, borrowers need to own a vehicle that is not older than 2000. All vehicle makes are accepted and you are required to have the logbook registered in your name. The amount you can borrow is determined based on the forced sale value of your car, the…
- One of the outstanding features of the Izwe Logbook Loan is that you are able to use your car as collateral to support a close family member who requires a loan but does not possess a logbook. For instance, your parent, spouse, daughter, or son. They can also use their logbooks to help you access a…
- If you have been cash-strapped and in urgent need of a loan, you might have thought of putting your car on the line to get a loan. Logbook loans have risen in popularity over the years in Kenya with multiple lenders including banks and microfinance institutions offering this secured loan option.
- Few Kenyans have the cash they need at hand to pay for big-ticket expenses upfront. As such, it is not unusual to see people looking for loan options, in order to be able to pay for these costly expenses over time. A logbook loan is one such option.
- Given the increasing cost of living, financial commitments might be hard to meet at one point in your financial journey. And sometimes, you might need a quick solution to help you meet an urgent monetary need like a medical emergency, a quick investment need, etc.
- Life is an incredible journey, and along the way, you meet people from all walks of life. While wealth is just one aspect of a person, it's undeniable that connecting with those who have experienced financial success can bring unique opportunities and perspectives into your life.
- Securing car financing in Kenya requires careful planning and informed decision-making. Here are seven tips that you should firmly keep in mind which will be your compass on this journey to successful car financing
- “Zenka applies the highest security standards following CBK guidelines and our internal privacy policy. Our customers' safety has always been our top priority. Selfie identification is not only a huge step towards protecting our clients from scammers but also directly affects the amount of the…
- With multiple personal loan products to choose from in the Kenyan market, you need to compare various loan products and make sure that you are getting a personal loan that is most suitable for you and your needs. From eligibility to loan tenure and the cost of credit, this is a complete guide to…
- When you land your first job, you are ecstatic. It’s usually the love for the job that keeps you in the profession. Despite the “passion wages” you love every moment you spend at work. But is living off passion sustainable in the long run? Is your love for your job enough to put food on your table…
- Receiving your first paycheck is a euphoric feeling and a gateway to independence for many people. However, to become financially prudent, it's essential to maximise the value of every shilling you make. Your early financial success is determined by how you spend and save.
- How long does it take to have a million while earning Ksh50,000? Sometimes, we overestimate what a million could mean for our lives. But similarly, we underestimate the work we need to put in to have a million shillings.
- July 31st will mark the end of 15 months since I started this savings journey. It will also be the second month when I will be earning interest under the revamped Absa Digital Savings account. After the monthly interest is paid out, I will have about Ksh500,000 in my account - about Ksh7,000 will…
- Like Zenka, commercial banks offering digital banking have been translating the existing physical KYC process - that requires a customer to present their original ID, KRA PIN copy and a passport-size photo - into a digital option of uploading a copy of ID, PIN, and a selfie image in the place of a…
- Even as fuel prices cross the Ksh200 mark, the Treasury is proposing new tax measures that among other things will lead to the removal of the Ksh2,400 personal tax relief, increase VAT to 18%, make taxable some education services, farm inputs as well as a welath tax for all car owners. More in the…
- Overall, knowing that personality has been shown to be a good predictor of especially early career success both as a stable trait indicator and also a reliable tracker through life changes, growth and development, it is worth looking into what your personality says about you. Then, figure out your…
- Have you ever wondered why escaping the clutches of debt feels like an uphill battle? Debt is not inherently bad; it can be a financial tool that can pave the way to prosperity when managed wisely. It can serve as a means to invest in your future through education, homeownership, or…
- Flipping is a straightforward strategy; it involves buying products at a discount and selling them for a profit online. With this business model, you can turn bargain-hunting prowess into an income-generating venture.
- I learned that the selfie feature is used to confirm that the person applying for a digital loan is actually a real person - through an AI system that matches the selfie submitted with the picture in the copy of the ID. It seems the proof of identity provided by the addition of the selfie, may have…
- Money market funds are appropriate for investors with low-risk tolerance. As an investor, you should look for funds with a proven track record and a constant growth rate.
- TIA Switch is an insurance product underwritten by Takaful Insurance of Africa and powered by AiCare. It is regulated by the Insurance Regulatory Authority (IRA). It uses telematics technology to offer discounted premiums for Kenyans driving less than 10,000 kilometres in a year and those who are…
- It is certain that at some point you will retire. Whether you retire at 35 as some have, or at 60 as is the formal retirement age, the reduced ability to be as productive as you were earlier in life calls for an active plan to secure a blissful life post-work. And you can never be too late to get…
- Kenyans are busy daily to find financial stability. To many, buying or having a car while having a salary less than Ksh50,000 is a poor financial decision. A car is viewed as a money pit. A thing that is made to cause constant dents in your pocket and is in no way a convenience; unless you earn…
- After earning your trust, they ask if you can help them by sending the money - either directly to their phone or to one of the herdsmen. They promise to return the money when making the payment for your car. If the target sends the money, the con trick becomes successful, and the number is…
- If you have an existing loan at a bank or are planning on taking one from August 2023, you may have to contend with higher interest rates as commercial banks begin repricing their loans in line with the Central Bank of Kenya’s (CBK) base lending rate. The CBR increased from 9.5% to 10.5%, the…
- Given the prevailing economic environment in which many consumers are having to make tough spending decisions, we understand the growing need to manage expenses and make purchases without straining one’s wallet. That’s why we’re excited to launch our BNPL card feature, giving customers greater…
- A car is among the necessities for many Kenyans. It's an essential means of transport to work, business, and running errands. Before you can begin with savings, research the type of car that meets your needs and budget. Research also the available financing options to get the right one. And lastly…
- The Absa Digital Savings Account has an accessibility advantage, no fees or penalties, and can help you save towards your financial goals. This makes it attractive as a saving vehicle as you are guaranteed easy access to your money during emergencies and higher returns thanks to its attractive 9% p…
- The digital lending market is expected to undergo a major landscape shift after the Central Bank of Kenya (CBK) approved a free loan product that will see Kenyans access up to Ksh100,000 worth of products through Safaricom’s Lipa na Mpesa. There will be zero interest charged on credit purchases…
- Negotiating the price of a car is an essential skill that can save you money and give you peace of mind. By doing your research, being thorough in your preparation, and avoiding common negotiating mistakes, you can easily navigate the car-buying process and ensure that you're making an informed…
- Research has shown that money and happiness have a point of diminishing returns. In other words, after a certain point, more money does not necessarily lead to more happiness.
- Personal loans are generally well understood and a common source of credit by Kenyans. But, did you know that credit cards can provide the same relief personal loans do plus a wide range of rewards and interest-free periods? If that is the case, when would a credit card or personal loan be the best…
