Money254

  • - The Central Bank of Kenya (CBK) has launched two new infrastructure bonds aiming to raise Ksh50 billion for 2024/2025 projects. Sales run from July 25 to August 14, with an auction on August 14. Minimum investment is Ksh50,000, and trading starts on the Nairobi Securities Exchange (NSE) from August…
  • - Here is my journey from quitting a well-paying job in a remote village to seeking success in Nairobi. Challenges and lessons learned about the realities of city life versus village life, and why sometimes, the grass isn't always greener on the other side. A money confession about finding…
  • - The National Assembly’s Budget and Appropriations Committee on Thursday, July 25, rejected the government’s plan to shut down the offices of the First Lady Rachel Ruto and Second Lady Dorcas Rigathi. The Treasury cut the Ksh1.25 billion budget assigned to these offices in the 2024/25 budget. 
  • - Discover the driving habits that are increasing your car's fuel consumption and costing you more at the pump. Learn how aggressive driving, speeding, idling, poor vehicle maintenance, and more can impact your fuel efficiency. Get practical tips to save fuel and reduce costs with better driving and…
  • - President William Ruto's newly nominated Cabinet as of July 2024. The second round of nominations includes a mix of returning members and opposition politicians. Read the full list of nominees, the roles they've been assigned, and the changes in ministry. This follows Cabinet reshuffle and the…
  • - Discover essential insights on driving with third-party insurance in Kenya. Understand the coverage, benefits, and costs of this minimum legal requirement, ensuring you're prepared for any liabilities to third parties. Learn more about the different types and exclusions of third-party insurance to…
  • - Learn how successful entrepreneurs separate personal and business finances to avoid financial setbacks. Discover practical tips and strategies, including paying yourself a salary, using separate bank accounts, maintaining an emergency fund, diversifying income streams, and more to ensure financial…
  • - The government, through Prime Cabinet Secretary Musalia Mudavadi has responded to reports of an alleged sale of the Jomo Kenyatta International Airport (JKIA). Demonstrators, under the hashtag #OccupyJKIA, have sought to pressure President William Ruto to address their demands by storming the…
  • - Explore the causes, symptoms, and effects of burnout—a psychological disorder rooted in chronic work stress. Learn how to identify who is most at risk and discover strategies to combat burnout, maintain work-life balance, and improve your well-being. Understand when it's time to consider leaving a…
  • - State House has requested Parliament to re-assign it Ksh597 million for compensating staff from the now-scrapped Office of the First Lady. In total, State House asked Parliament to re-allocate an extra Ksh1.7 billion after the budget cuts that were initially announced by President William Ruto…
  • - The Teachers Service Commission (TSC) has announced the cancellation of the 9.5% salary increase for teachers scheduled for July 2024, due to a KSh10 billion budget cut following the fall of the Finance Bill 2024. TSC CEO Nancy Macharia stated that these cuts make it impossible to implement the…
  • - The Kazi Mtaani Programme is a project that aims to safeguard the most vulnerable young people in informal settlements from the COVID-19 pandemic's effects. The purpose of the initiative is to provide some form of social protection for workers whose chances of finding regular or casual work have…
  • - KenGen to Build 42.5MW Solar Power Plant Near Seven Forks Dams. The project, in partnership with the French Development Agency, will enhance renewable energy in Kenya, providing affordable and reliable electricity, and addressing climate change. Completion is expected in two years and four months.
  • - The history of co-operative societies in Kenya dates back 113 years ago in 1908 when the first co-operative society was established - a dairy co-operative. Today, Saccos are the number one alternative to banks. How did we get here? And what should you think about before joining a Sacco?
  • - Dismissed Cabinet Secretaries will receive Ksh2.45 million each following President William Ruto's cabinet dissolution. According to SRC regulations, the gratuity is 31% of their basic salary per year, subject to a 30% tax. Collectively, they will take home Ksh54 million.
  • - Discover the truth about making money online with our detailed guide debunking common myths. Learn the realities behind quick riches, online scams, passive income, and more to set realistic expectations. Whether you're a freelancer, e-commerce entrepreneur, or digital marketer, learn to navigate…
  • - The Kenyan government has increased the Road Maintenance Levy (RDL) from Ksh18 to Ksh25 despite assurances from the Ministry of Roads that the feedback calling for the hike delay would be considered. New EPRA fuel prices for July 15 to August 14 show decreases in petrol, diesel, and kerosene prices.
  • - Latest developments in Kenya as the International Monetary Fund (IMF) evaluates the country's readiness for increased financing. Withdrawal of Finance Bill 2024 is shaping IMF's assessments. In other news, KRA has announced the successful collection of Ksh43.9 billion through its recent tax amnesty…
  • - President William Ruto on Thursday, July 11, fired 20 Cabinet Secretaries after announcing the dissolution of his Cabinet. The President noted that the decision to reorganise his government was informed by the recent public protests that saw him drop the Finance Bill of 2024 in its entirelty. Here…
  • - The Kenyan Ministry of Lands has ordered all foreign nationals to surrender their freehold titles immediately. Lands CS Alice Wahome announced that these titles were issued through error or corruption, as the constitution only allows Kenyans to hold freehold deeds. Foreigners can only own land on a…
  • - There is a standoff between Kenya and Uganda over the imposition of a Ksh5.78 billion fee on fuel imported directly by Uganda via the port of Mombasa. Uganda's Uganda protests as Kenya frustrates their efforts to lower fuel costs with increased bond fees at Mombasa port, sparking tensions between…
  • - Despite recording growth, the Kenya Revenue Authority (KRA) fell short of its revenue collection target for the year ended June 2024. KRA managed to collect Ksh2.407 trillion, representing an 11.1% increase from the Ksh2.16 trillion collected in the previous financial year. However, this figure is…
  • - How Kenyan Businesses Struggled in June: Explore the impact of economic challenges, anti-tax protests, and policy uncertainty on business operations.The latest Stanbic Kenya Purchasing Managers Index (PMI) reveals a significant decline in new business intakes, signaling a sharp downturn in the…
  • - Unlike education policies, where funds are locked in until the policy matures or specific conditions are met, MMFs are highly liquid and allow quick access to funds. MMFs also don't require long-term commitment with regular premium payments. For these reasons, they can benefit parents looking to…
  • - Discover how Income Real Estate Investment Trusts (I-REITs) are revolutionizing real estate investments in Kenya, offering Kenyans an accessible way to earn rental income from prime properties in Nairobi. Learn about I-REIT structures, investment methods, risk factors, and how to align your…
  • - Uganda began directly importing oil from Vitol Bahrain after a disagreement with Kenya, reshaping East Africa's fuel trade. This follows a five-year G-to-G deal by Uganda National Oil Company. Uganda continues to use Kenya's infrastructure as the first shipment docked at Mombasa on July 3 arriving…
  • - Explore the debate over taxing freehold land in Kenya with the Land Laws (Amendment) Bill Number Two of 2023. Understand proposed amendments, their implications for landowners, and the government's subsequent withdrawal. Get into property rights, taxation equality, and governance in Kenya's…
  • - East African Community introduces new tariffs affecting items like baby diapers and smartphones, aiming to align customs duties across member states. Audit reveals discrepancies in Russian fertilizer shipment to Kenya, with over 500 tonnes missing. NHIF acknowledges Ksh368M in excess payments due…
  • - Discover the latest salary increases for Kenya's Governors, MPs, and MCAs effective July 1, 2024. The SRC's Gazette Notice outlines significant pay rises, impacting state officers amidst public debate on fiscal responsibility. Get detailed insights into the new salary structures and the…
  • - President Ruto announces Kes 1.0 trillion borrowing for 2024/25 following Finance Bill 2024 withdrawal. The plan marks a 67.5% increase over the previous year's borrowing. Learn how this decision impacts Kenya's fiscal strategy and the implications for domestic and external debt allocation.
  • - If you’re looking for business ideas that promise long-term stability and a steady customer base, this article is for you. Read on to discover timeless business ideas and how you can leverage them to build a robust and lasting enterprise. They are in the clothing, food, healthcare, consulting,…
  • - I am the sole breadwinner, my salary is Ksh100,000 gross. This comes to 73,385 in the net salary. Transport to work in Westlands costs me Ksh4,000. School fees for both kids is Ksh20,000 per term. Mukami is in Grade 2 while Makena is in baby class. My wife is part of a Home Chama, to which we…
  • - Kenya Raises Fees to Cover Tax Shortfall: IDs, Passports, Work Permits, and Marriage Certificates Now Cost More. Treasury is aiming to collect at least Ksh55.8 billion from administrative fees and charges for services in the next financial year. Learn how the government plans to fill the budget gap…
  • - President William Ruto on Thursday, July 11, dissolved the Cabinet, firing all Cabinet Secretaries with the exception of Deputy President William Ruto and Prime Cabinet Secretary Musalia Mudavadi.The head of state promised to name a new Cabinet in the coming days.
  • - President William Ruto has nominated 51 candidates for the position of Principal Secretary (PS) in various State Departments.‍ The Public Service Commission (PSC) forwarded him 250 names after interviews, which President Ruto narrowed down to 51 names.‍
  • - The general working of an I-REIT mirrors that of a listed company that sells its shares based on valuation and shares future income with shareholders based on performance. A valuation is done to determine the value of the total assets owned by the REIT. Then the value is split into smaller units…
  • - I wanted to buy land, learned about I-REITs instead. I now invest in real estate with ease and diversification. I am now earning rental income without managing property! My investment appreciates with the properties, and I can easily sell my units on the platform.Join the Vuka Investment Club for…
  • - An accountant moves from Molo to Nairobi seeking career growth but faces debt due to lifestyle upgrades. Discover how he restructures his finances, cuts expenses, and regains control, ultimately achieving stability, savings, and career success while navigating the challenges of adapting to a higher…
  • - The rollout of Kenya's Social Health Insurance Fund (SHIF) faces delay again. A committee set up by the Ministry of Health says that technological issues with the program's digital platform force postponement of the July 1st launch. Government explores alternative solutions, including reviving the…
  • - "Explore the most profitable export sectors in Kenya, where entrepreneurs thrive and generate significant income. Uncover key industries, market trends, and success stories that highlight how Kenyans make the most money in the export business. From agriculture to manufacturing, learn what drives…
  • - Explore the highest paying jobs in Kenya across various sectors like technology, finance, healthcare, and engineering. Learn about top-paying jobs in the private and public sectors according to a report by KNBS. Whether you're a job seeker or considering a career change, discover opportunities to…
  • - Mobile banking has changed how Kenyans manage their finances. With a USSD code, you can check your balance, transfer funds, and pay bills. In Kenya, many banks offer USSD codes that make these services easily accessible without the need for internet access. Here, is a list of all bank USSD codes…
  • - Potential repercussions of the Finance Bill 2024 not passing: The National Treasury anticipates significant budget cuts in fiscal year 2024/2025 that could impact crucial sectors such as education, HELB, CDF, IEBC, farming, healthcare, infrastructure, and social services across Kenya.
  • - Kenyans face a 38% hike in fuel taxes despite a recent revenue dip. The amended Finance Bill proposes raising the Road Maintenance Levy to fix roads, increasing petrol and diesel by Ksh7 per liter. This comes with a win for privacy, as a plan for warrantless data access by tax authorities was…
  • - The 50/30/20 method outlines how you should divide your income. 50% of your income should be used for your needs, which include food, shelter, clothing, and commuting. The other 30% is allocated to your wants, these include the creature comforts that you enjoy. On the other hand, the remaining 20%…
  • - Treasury CS Prof Njuguna Ndung’u on Thursday, June 13, unveiled Kenya’s 2024/2025 budget totaling KSh 4.04 trillion. The budget projects an ambitious revenue target of Ksh3.02 trillion, driven by major tax reforms, improved revenue collection, and what the Treasury CS described as strategic…
  • - How Kenyans have fallen victim to fraudsters who take advantage of the popularity of the chama model. These are savings schemes created online and coordinated by individuals who are popularly known as the “admins”. They start well but after some time, the members of these chamas are left in tears…
  • - Nairobi's stalled Thika Road BRT project gets Ksh3 billion to resume after 4 years. The project aims to ease traffic congestion with dedicated lanes for BRT buses and quicker boarding at stations. The government will pay the contractor Ksh3 billion to finish the 27km BRT line from Ruiru to Kenyatta…
  • - Struggling to clear your Higher Education Loans Board (HELB) loan? This guide offers 7 steps to help you pay it back faster, including utilizing the grace period, automating payments, and maintaining a simple lifestyle. Learn how to increase your income and avoid taking on more debt to become HELB…
  • - Kenyan county governments clash with KRA over VAT on local revenue. CoG says this is unconstitutional because the constitution gives counties the power to manage their own finances.. They also argue that VAT is a tax on goods and services, and county revenue isn't the same thing. Legal action looms…