- Timiza is a mobile banking solution launched by Absa Bank Kenya in 2018 (then Barclays Bank Kenya). It is an all-in-one app that not only serves as a mobile loan app, but also enables users to save money and earn interest, pay utilities and buy insurance.
- Housing happens to be one of the biggest decisions everybody will have to make in their lifetime. And it is not an easy one. As you get older and your family grows, it becomes inevitable that you will have to make the choice. So, should you continue renting, or should you buy or build that dream…
- My regular shopping needs have also transformed. Before the card, I would always feel remorseful when I saw a great sale for something I needed, say a TV I had been saving for. The discounted option always appeared when I was broke. But not anymore! I can always borrow the "free" money and refund…
- Earning an extra income has numerous advantages in making your life easier. It is even more advantageous if you are making this money passively - that is with minimal time commitment. This article will explain to you in detail the Zenka Referral Programme that enables you to make money by sharing a…
- The Absa Digital Savings Account is one of the pioneer digital savings accounts available in Kenya. This unique accounts gives you a bonus for staying on track with your savings and the best part, you never ever have to visit a branch to transact. Should you open one? This article breaks down the 7…
- Is that digital loan app you are downloading legit? The relief of getting a loan within minutes should not blind you from the potential helplessness of extortion for months by copycat apps. In this article we take you through the warning signs you are downloading a copycat digital loan app and how…
- When you are in urgent need of cash and traditional lending options are either unavailable at the moment or you already are servicing debt with your banking partner, considering a digital loan to sort out the problem at hand can be considered a prudent financial decision. But there are mistakes…
- Owning a house is a significant life milestone for most people, but the high costs can make it seem like an unattainable goal. And given the current increase in rent rates - a fourfold rise in the last 10 years, according to data by realtor HassConsult - it might even be harder to save consistently…
- Today, where can you get an unsecured loan of up to Ksh10 million for your business? In this article, we take a deep dive into Avenews, a new agribusiness financing option that is providing loans of up to Ksh10 million. Is this unique loan what your agribusiness needs?
- To many, owning a home is the ultimate embodiment of financial security; your family has a place to call home, not just a house, you no longer have to deal with landlords and importantly, you get to build wealth over time by leveraging your home equity. But buying a home is expensive. Mortgages may…
- "In January 2022, I was promoted after a two-year wait (Covid-related) and my gross salary was bumped to Ksh80,000. It translated to a take home income of Ksh61,000 with some loose change. Coming from a take-home of a few hundred shy of Ksh45,000, this salary bump was a big deal for me. And I did…
- When it comes to digital loans, there are many options available in the market. Choosing a digital loan that aligns with your needs and financial situation is important. This will help you avoid defaulting on your loan, as you can easily manage your loan repayments.
- There are practical and effective strategies you can use to stay afloat, depending on your financial situation. The strategies can range from using your savings and finding creative ways to make extra cash to taking out an affordable short-term loan.
- Remember when you opened your first bank account? Many people confess they didn't give much thought as to which bank or type of account to open, but later when they begin their professional career they realised a current current isn't only for receiving your salary. Depending on which account you…
- Credit cards offer you access to what we consider free money, upto 50 days of an interest-free period. They also come with other benefits such as special discounts that the provider negotiates with local and international retailers; cashback rewards; access to Airport VIP lounges; flexible…
- Credit cards can come through for you this Easter holiday by providing financial flexibility and access to interest-free credit. Imagine shopping and travelling without worrying about cash shortages or enjoying discounts and perks when dining out with family and friends. With a credit card, you can…
- Insurance is an important tool for protecting your family financially, but it should not be the only one. It's essential to have a diversified financial plan that includes other investments such as liquid assets that can be easily converted into cash and investments that can produce passive income…
- How much of your salary do you save? How do you keep yourself in check? These are important questions in the journey to financial freedom. Saving often feels like an easy thing but for some people, it is painfully elusive. However, the Absa digital savings accounts is specifically designed your…
- A home insurance cover is a basic investment for any homeowner keen on protecting their wealth and preventing things that are out of their control from derailing their financial growth journey. Not only does it protect the physical structure, but it also ensures valuables in the house are protected…
- 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…
- If you are already in business, there may be many instances where you may have missed out on a profit-making opportunity because you didn't have the cash needed to facilitate the transaction. Avenews allows you to borrow the working capital and instead of paying fixed interest, you split a share of…
- Everyone finds themselves cash-strapped once in a while. It can happen for multiple reasons, including an unexpected expense that disrupts your budget to a delayed salary that leaves you broke. In such situations, you will likely need some credit. This article compares credit cards and digital…
- Digital loans are short-term debt products you can access directly from your phone through an app, website, or USSD. Digital Credit Providers (DCPs) offer loans with an average repayment period of 30 days. Today digital loans are the preferred emergency loan option for many Kenyans. Therefore, it…
- Digital loans are easily accessible, but this doesn’t mean you should borrow blindly. Before applying, ensure you have a solid repayment plan to avoid default which can hurt your creditworthiness. Second, ensure that you practice mindful borrowing; this includes borrowing only what you need and can…
- While Saccos have the advantage of opening up your access to credit and dividends on shares and relatively higher interest on savings than savings accounts, I learned the hard way how liquidity is a major factor in taking advantage of quick opportunities and why one should never put all their eggs…
- Managing your finances can be challenging, especially when facing unexpected expenses. One way to deal with these financial hiccups is to take the financing route, and two popular choices are credit cards and digital loans. While both options can provide you with the money you need, they have…
- Taking out a mortgage is a significantly life-changing financial commitment that requires careful consideration and preparation. Preparation allows you to understand the steps involved and mistakes to avoid, increasing your chances of approval.
- Saving is an act of paying yourself first because it involves safeguarding your future. It is recommended to always set aside a portion of your income as savings as the very first thing you do whenever you get paid.
- Four months into 2023, it is important to reflect on the resolutions you made at the start of the year. This is particularly important in your personal finance journey because what gets measured, often gets done. Plus, in this article we show you how other Kenyans are doing vis-à-vis the goals they…
- Smartphone financing is now available in Kenya. With a deposit as low as Ksh3,000 and instalments as low as Ksh550 per week, you can get the smartphone your side hustle or lifestyle needs without having to part with the full amount all at once. The device could go a long way in easing your life…
- The Mogo smartphone loan allowed me to upgrade to the Samsung A54 256GB for only Ksh2,000 in weekly installments. Luckily, the upgrade brought about better fortunes, my sales increased since my products were accompanied by great photos. My life has become better from the peace of mind brought about…
- Do you remember your childhood dream career? I vividly remember mine, including the unfortunate events that separated me from the career I had dreamt of for more than 15 years. From a young age, I wanted to become a pilot. It wasn't a particularly unique career dream. Nearly half of the people I…
- One factor that makes agribusinesses quite lucrative is the fact that the end product - whether it is avocadoes, fruits, milk or even meat - is almost attached to human existence. In other words, people will always eat, regardless of the season or the product that is in demand. However,…
- Mogo smartphone financing allows you to own a smartphone through a small installment followed by weekly installments. For the Tecno Spark 10 Pro, the weekly installment is only Ksh750 over a period of 52 weeks. The deposit needed to acquire the Techno Spark 10 Pro is Ksh6,000 which is a small…
- FlashPesa is one of the few digital lenders in Kenya that have a clear loan limit growth process that is standard for all borrowers, it has a relatively competitive interest rate and employs dedicated customer relationship managers that customers say make them feel like they are dealing with a…
- Since March 1st, I have been a proud owner of a Techno Spark 10 C. I not only started a new year, but I also began a stress-free lifestyle after saying goodbye to the stress of having my kids face embarrassment because of mistakes in their CBC assignments. All this has been possible through the…
- What is more? The FlashPesa team has exceptional customer service. I have a dedicated relationship manager, Winnie, who is always offering me tips on new products, loyalty programmes, and ways to increase my limit. I have never gotten a spam call or texts - just the same professional experience I…
- The Nokia C31 is available across various retailers in Kenya. There are also various ownership options you can choose from. If you currently do not have the full amount to make an outright cash purchase, the Nokia C32 is available through the Mogo smartphone loan, with a downpayment of Ksh3,000 and…
- The Samsung A04 is available through the Mogo smartphone loan. To buy the phone through financing, you will be required to make a minimum down payment of Ksh4,000. You will then receive the smartphone and complete the payment by making weekly instalments of Ksh700 for 52 weeks - as part of lipa…
- 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 Absa Digital Savings Account offers a 9% interest rate per annum, which accrues daily and compounds monthly. So, with Ksh37,700 monthly savings, you would have deposited a total of Ksh904,800. However, the total amount in your account would be Ksh1,032,410 - courtesy of the interest earned and…
- With my customized approach, I successfully allocated 30% of my salary –which amounts to Ksh 30,000 – towards my car fund. And I made sure to prioritize paying myself first before allocating funds elsewhere. Now, to cover the remaining Ksh20,000, I was going to tap into the proceeds of my side…
- The FlashPesa Digital loan also stands out because of its predictable and transparent loan limit growth process. As the loan limit increases, the service fee charged by FlashPesa reduces. Every customer who qualifies for the FlashPesa Digital Loan gets a limit of Ksh1,000 on their first loan. It…
- 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…
- I learnt I was going to be a father just after my 26th birthday, I had no savings and I had to teach myself to develop a savings habit. I learnt of various budget rules, including the frugal minimalist rule that I initially used while we were waiting for the baby to be born. After Raisa’s birth,…
- 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…
- The pregnancy was going well, until one day, during a routine prenatal scan, the doctor announced that we were going to have not just one, but two bundles of joy! The news came with mixed emotions. There was the joy of knowing we were going to have a bigger family, but there was also the anxiety of…
- On June 30, 2023, Absa Bank Kenya launched a BNPL service for credit card customers. It is the first BNPL credit card to be offered exclusively by a Kenyan commercial bank. Christened “Buy Now Lipa Pole Pole”, the Absa BNPL service allows credit card customers to extend the repayment period for…
- We open from Monday to Saturday and close on Sundays. The daily revenue comes to a minimum of Ksh5,500 between Monday-Friday. On Saturdays, we make about Ksh3,000 - on average. This comes to Ksh30,000 a week and if all goes well, Ksh120,000 in monthly revenues. The monthly expenses for July total…
- To prevent your money from losing its purchasing power, you need to save it in an interest-bearing account that pays higher interest than the inflation rate. Since the inflation rate is 7.28%, your savings account should earn you interest equal to or higher than that. The Absa Digital Savings…
