- The question of whether to buy or build has always been a key concern to individuals thinking about settling down. While thinking about these two propositions, there are trade-offs to be made. Usually, the main contention is what are you willing to forego?
- If a bill aimed at regulating professionals in the agricultural sector passes, you will be required to have a related degree/diploma or certificate to operate even an agro-shop. Treasury must raise Ksh1.5 Trillion revenue in just 3 months, effects of high interest loans on private sector, new Nema…
- Over the years, Rwanda has earned a reputation for being open and receptive to foreign investors and entrepreneurs. This has made Rwanda an increasingly attractive destination for Kenyan entrepreneurs seeking business opportunities, particularly in the tech sector.
- Safaricom has partnered with the Kenyan government to train 10,000 youthful Kenyans and impact them with technical skills relating to the installation of fibre optic internet connection. The new project will be undertaken through a programme dubbed “Connect Academy” - a partnership between…
- Nairobi Governor Johnson Sakaja has announced radical reforms concerning the construction of new buildings in the city in a bid to avert disasters that may occur owing to the heavy rains and flooding that have affected most parts of the city. Sakaja announced that the county government is banning…
- “The Mazingira Day share therefore be a day for all Kenyans to participate in environmental conservation activities including tree planting in line with the government's efforts towards accelerating forest restoration and ensuring that 15 billion trees are planted by 2032 to address the effects of…
- Having been clueless about how to navigate money throughout my childhood and youth, I have been determined to ensure that my children and those around me do not walk down the same road making the same mistakes I made then.
- When borrowing, the power dynamics might seem skewed. The lending institution might seem to have the power to exert more power. However, the Kenyan law has ensured that the power dynamics are harmonised. The laws ensure that the lenders (banks, saccos, and microfinance) do not take advantage of the…
- At its core, the NSE functions as a marketplace where investors can trade securities issued by publicly listed companies. This exchange facilitates transactions between buyers and sellers, providing liquidity and transparency to the market. You can participate in the NSE through various channels,…
- Everyone wants to build wealth, but there is rarely consensus on how to do it. Some investments, however, are more popular than others. Now, the question we ask in this article is in your journey to building wealth - particularly through real estate - would you rather take a loan to buy land or…
- The I-REIT earns income by renting out properties. This income is distributed among shareholders in the form of dividends. Thus, you earn passive income from real estate without having to manage properties directly. As the value of the underlying properties appreciates, so does the value of the…
- After a few minutes into this real estate investing 101 class, I was starting to grow impatient. I wanted to hear the grand story of how my colleague owned a highrise building. His secret was the Vuka Investment Club, the platform that allows Kenyans to invest in Kenya’s premier I-REIT - the Acorn…
- 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…
- There are varied ways to invest. Some investment instruments cater to risk-averse investors, while others cater to investors with a higher risk appetite. Before you invest, understand what the investment instrument is targeting.
- Cash flow management doesn’t only apply to people trying to run a business it is just as important in our personal lives. Personal cash flow according to nerdwallet.com is your income minus expenses over some time. It helps indicate in what direction your finances are heading.
- From the details of the Affordable Housing Regulations 2024 that include potential fort exclusions, the revelations of the staggering amounts of allowances earned by civil servants in Kenya, a record fall in the prices of fuel in Kenya, the state of compliance by LPG gas companies in Kenya, a…
- Tanzania is known for its diverse economy, rich culture, and abundant natural resources, offering a promising landscape for business ventures. With a population of over 60 million people and a strategic location in East Africa, Tanzania presents numerous opportunities for entrepreneurs seeking to…
- Most people or businesses find themselves in this situation, unable to recover what's rightfully theirs because going to court can be expensive and time-consuming. Lawyers can be a hassle, and the whole process seems daunting. That's where Small Claims Courts come in.
- Kenyans wishing to let go of the affordable housing units courtesy of the government may not find it easy following newly introduced regulations meant to provide some clarity on Section 54 of the Affordable Housing Act 2023.The regulations contained in the Draft Affordable Housing Regulations 2024…
- Before venturing into the complexities and risks inherent in the stock market, it's crucial to equip oneself with knowledge and understanding. This entails conducting thorough research to grasp the fundamentals of investing, which starts by identifying the key factors to consider when buying shares…
- Lowering your tax liability is essential for various reasons, all aimed at improving financial health. You will increase your disposable income, allocate more funds towards savings and investments, and, importantly, expedite your journey towards financial freedom.
- At the beginning of the year, Equity Bank launched its overdraft facility, Boostika. Boostika is similar to Fuliza, an M-Pesa overdraft facility that, in August last year, reported that Kenyans were borrowing Ksh2 billion daily. Although these two are the most popular overdraft facilities in the…
- The launch marks a major step towards improving the ease of doing business in the country, addressing the need for efficient and streamlined services that facilitate business establishment and growth.KBSC will also enable businesses to access loans through the provision of information and…
- With a population of over 40 million people and a steadily growing middle class, Uganda offers a sizable consumer market hungry for goods and services. Kenyan businesses can tap into this market to sell their expertise and products.
- It is that time of the week again when we look at the news headlines over the last seven days and dissect those that can affect your money. Welcome to yet another edition of Money Weekly.
- If you want to grow your savings and make your money work for you, simply stashing away cash won't cut it. You need to find instruments that promise higher returns than your traditional savings account. Fortunately, there are many saving and investing options that offer high returns to choose from.
- More and more people are owning cars in Kenya. The booming car market has unfortunately also attracted fraudsters. As a car owner or an aspiring car buyer, you must be aware of the scams that these fraudsters employ to defraud you of your car or money.
- The price of tea at the Mombasa Auction has hit a record high price of Ksh443 ($3.41) per kilo. At Ksh443 per kilo, the current retail price is the highest ever recorded over the past 30 years, only coming close to the prices recorded in July 2015 when the commodity recorded a record high of $3.39…
- “We are out to share experiences including seconding of expertise to boost the manufacture of quality fabrics that meet Agoa markets in order to increase profitability and create employment opportunities. There is high demand for textile products in the American market and Rivatex has modern…
- In August 2023, after the cost of petrol crossed the Ksh200 mark, the Energy Petroleum Regulatory Authority (EPRA) announced that it would be subsidising the landing cost of fuel through funds drawn from the Petroleum Development Fund. At the time, a Cabinet Secretary predicted that a litre of…
- Being the lastborn of three children and raised by a widowed mother, she outdid herself. None of my siblings lacked despite the fact that after our father’s demise, we were all disinherited. All I remember was the month of confusion, tears and agony and moving out from our big maisonette to a two-…
- The deadline for all business in Kenya, including those in the informal sector to onboard on the electronic tax invoice management system (eTIMS) lapsed on Sunday, March 31. This means that expenses not supported by an eTIMS invoice are no longer tax deductible, but there are also fines for non-…
- “Payment of contributions and access to health services under the Act and these regulations will commence on July 1, 2024.Upon the coming into force of these regulations, every person resident in Kenya shall apply to the Authority for registration as a member of the Social Health Insurance Fund…
- The National Transport and Safety Authority (NTSA) and the National Police Service (NPS) has commenced a crackdown on vehicles with unauthorised modifications, particularly involving the use of strobe lights.
- The same applies to driving licenses and logbooks where most Kenyans have no hurry in picking them up - unless they are in need during a transfer or a financial transaction where the documents are needed. The new plates were launched on August 30, 2022, at an event presided over by then-Interior CS…
- Six months later, I am slowly rebuilding my life. Back to the bedsitter with another 4 years to clear my first loan. Luckily, my work has been superb and I got a Ksh30,000 raise in January. I am directing all the new income to clear the outstanding loan. As I look back, I feel hopeful about the…
- Banks release their financial reports for the year ending December 2023 with a majority reporting a growth in profits, President William Ruto orders parastatals to surrender 80% of profits to Treasury as loss-making ones put on notice, KRA set to miss revenue targets, NSE sets record performance…
- As the electric mobility revolution sweeps across Africa, the motorcycle industry in Kenya stands poised to lead this transition since it is the most represented in the transport sector. We are now at the point where if you've been contemplating purchasing or upgrading your two-wheeler for personal…
- How can I afford a German car with that salary? Well, it’s not my car to begin with. It’s my wife’s. She earns more than thrice my salary, she is the lucky one - having gotten a job with a leading investment firm just after we graduated. After we got our first kid, she took a loan and bought our…
- Mombasa is a major economic and cultural city in Kenya, the second biggest after the capital Nairobi. With a population shy of 1.5 million people, Mombasa has endless opportunities for an entrepreneur willing to exploit them.
- I have always been fond of children. Primarily because they are a clean slate for this thing called life. In them, I see a sea of possibilities and dreams that can be forged—a future! More often than not, whenever I come across a kid, one of the questions I ask them after their name, of course, and…
- “Civil servants living in government houses pay an average of Ksh2,200. This includes those who pay lows of Ksh1,000 in areas such as Mbotela and those who pay as high as Ksh30,000 for 3-bedroom units in the upmarket areas. There is a need to increase rent. I have written to the Treasury to allow…
- It is that time of the year when Saccos are announcing their dividends and their members reaping from their savings. Here are some of the Saccos with the highest dividends in Kenya so far.
- Saving your money is important. But as much as you are saving, you cannot just let your money be saved without at least earning an interest. Discussed are the savings accounts where your savings can earn you at least 10%. This will protect your money against inflation.
- The President noted that the directive was part of his strategy to revamp the economy, by maximizing revenues and taming losses that have historically been associated with government-owned enterprises. He further directed the parastatal heads to cut their recurrent expenditure budgets by 30% as a…
- Kenya ranks as the 29th most unhappiest nation in the world, a drop for the first time in 5 years - how does it compare with neighbours Uganda and Tanzania? KRA is set to miss its revenue target by over Ksh300 million, Nigeria & South Africa outdo Kenya in venture capital investment as the…
- Are you the kind of person that has always been drawn to science? Do you have the desire to pursue science after high school but need help figuring out where to start? With a million and one courses out here, one might need help figuring out where to start or how to narrow down the list.
- Understanding the frequency of interest accrual and compounding is crucial when choosing a savings account. Daily accrual and frequent compounding, such as quarterly, monthly, or even daily compounding, can result in higher total interest earned and faster savings growth. Therefore, when opening…
- The Umba's Fixed Deposit Account offers an attractive annual interest rate of up to 16% for savings locked in for at least a year. In contrast, Saccos typically pay different rates, ranging from 12% to 15% per annum, depending on the specific Sacco.Umba's fixed deposit has the advantage of no…
- If you are full-time employed and want to improve your financial security, getting a second income stream is a no-brainer. But it can tricky when a side hustle starts taking from your monthly paycheque to support transactions. That is why you need to have access to an affordable credit facility…
