- 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…
- 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…
- 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.
- 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.
- 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…
- 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.
- 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.
- 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.
- 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…
- 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…
- 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-…
- 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…
- 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…
- It is now possible to run a full side hustle without having to be physically present. It is also quite possible to run some side hustles without leaving your desk or affecting concentration at your main job. All you need is a smartphone and if you do not have one, there is an easy way to acquire…
- If you occasionally require a quick cash injection between paychecks, a fairly substantial amount to fulfil orders for your small business quickly, or wondering where you can get some money for emergencies, LendPlus is a digital loan app you may want to consider from the many options available…
- One standout feature of the LendPlus digital loan app is the ability to extend your repayment several times by up to the number of days your loan was due. No other digital lender so far reviewed by Money254 seems to offer this useful option of extending one’s repayment period
- I turned 30 on November 20, 2021. It was on a Saturday. And a sobering one for that matter, since after a Friday night out with friends to usher me into the ‘third floor’, my bank balances were not looking too great.As I sipped my home-made hangover cure - lemon, ginger and honey concoction - I…
- Have you ever thought of how significant the one million number is? Well, if you had one million shillings in one-shilling coins, it would take you eleven and a half days of continuous counting. And that is at a rate of counting one-shilling coin per second non-stop. How can you save such an amount…
- A digital savings account is a type of savings account that can be opened, managed and operated from anywhere at any time using mobile devices such as phones and digital devices such as the computer. It has all the features of a traditional savings account and on top of it saves one time, money and…
- Every day of 2022, over 400 digital loans were approved and disbursed to Kenyans across the country via the LendPlus Digital Loan App - a digital loan app that is barely two years old in the Kenyan market. That is just about one loan being approved every 3.5 minutes.
- For many traditional loan types, “late fees”, are a nightmare that borrowers have to contend with and endure, unfortunately, if one is facing some financial difficulties during the loan tenure and can’t extricate themselves in time before payment is due.
- Late last year Zenka forgave Ksh166m of penalty fees. We sat down to ask them all about it. With digital lenders over the last few years having racked up a bad rap with accusations of lacking customer-centric policies, Zenka’s latest gesture brings into focus the efforts by players in the digital…
- We are living in rather hard economic times. The cost of living is going up, employment is a challenge after the Covid shockwaves, and most businesses are also struggling to make ends meet. Referral programmes can be a life-saver especially because they provide the opportunity to earn a decent…
- As the CBK assumes an oversight and supervisory role over the operations of digital lenders in Kenya, we take a look at the seven major regulatory changes including in the pricing of loans, borrower rights and for the first time strict rules for loan recovery. All from the perspective of a digital…
- It’s mid-February, Valentine’s Day deals are over, you probably did a little spending on your loved one(s), payday is still far away but you are in fairly urgent need of some cash to last you till then. Should you take a digital loan? If so, how does a LendPlus Digital App loan stack up?
- Unlike other compilations you might find on the internet, we have taken time to list only referral programmes that actually accept Kenyan participants and have products you can actually refer to Kenyan friends, family or followers. Many are also paying directly to your mobile money wallet.
- When it comes to loans, the biggest factor to consider before borrowing is your ability to repay. The ability to extend your loan repayment period has several advantage especially since sometimes things may not always go as planned. We detail the onl digital loan apps so far that allow repayment…
