- 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…
- If the total value of the monthly sales of your business is at least Ksh100,000, then you may be interested in the Shara Unsecured Revolving Working Capital Loan that is tailored for small and growing businesses that need instant working capital injections from time to time to take advantage of…
- Typically, you should save the equivalent of three to twelve months of your monthly expenses as emergency funds, depending on your financial needs and job security. This money is meant to prevent you from digging into your savings or going into debt when you need to settle unexpected bills or loss…
- 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…
- The laundry business is fairly profitable and straightforward - which makes it an ideal venture. Imagine a convenient home-based laundry service, where customers can simply call in, and their clothes are collected, cleaned, and then delivered back to them. This concept involves establishing a…
- An average of Ksh7,000 has gone to purchasing detergents and other related materials, as well as to marketing her business. This means her average monthly profit is Ksh20,000. And the business is growing. Her current project involves coding to build a mobile platform where more people can access…
- I changed the nightly price to Ksh2,000 to attract more customers. I also started to actively market on social media as opposed to waiting for potential guests to find me. For most of 2022, my profits oscillated between Ksh15,000 on a good month - and on months where I was not active, I started to…
- The Absa BNPL credit card service is a first-of-its-kind product from Absa Bank of Kenya that allows customers to convert their outstanding credit card balance to short-term credit. Its biggest benefits include the flexibility to split payments across up to 12 months and the opportunity to reduce…
- 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…
- 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…
- Since 2017, forex trading has significantly grown in Kenya. Nonetheless, there are still some pitfalls to forex trading in Kenya. This article will explore five forex trading pitfalls in Kenya.
- The Government, through the Office of the Data Protection Commissioner, has contacted the owners of TikTok and sought to ascertain the level of compliance to ensure the privacy of individuals is respected. At the moment, we are not satisfied that there is compliance from Tiktok in ensuring the…
- “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…
- 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…
- Monitoring how the savings account is growing is my new exciting thing. The account is well-suited for goal-oriented savings. In addition, my savings earn interest. Yes, at an above-inflation rate of 9% per annum - which happens to be the highest offered by a commercial bank in Kenya.The interest…
- 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…
- The used car market is growing as more Kenyans seek a more affordable path to car ownership. However, the market can be challenging for the average car buyer who has little understanding of the market dynamics or a technical understanding of the state or value of a secondhand vehicle. Peach Cars is…
- Umba is a Microfinance bank licensed by the Central Bank of Kenya. Umba offers market-leading fixed deposit and standard savings accounts covered by KDIC Insurance that can be accessed instantly through their app. Download the app, open an account and start saving in minutes today.
- I looked for Facebook posts bearing the seller’s name but instead of getting the vehicle’s offer history, I came across two disclaimers showing a number of clients had been conned while trying to buy this specific car. It was a close call as I had been planning on sending the money later that day…
- One day I was catching up with news on my mobile browser and I saw that Umba, a Kenyan bank licensed by the Central Bank of Kenya, had launched a fixed deposit account that paid an interest rate of 16% per annum. This is the highest rate I have seen being paid for a fixed deposit account in Kenya.
- Amidst these trials, Kenyans have demonstrated remarkable adaptability and resourcefulness. The lessons learned in 2023 extend beyond mere survival; they delve into the benefits of financial management and long-term planning. So, what money lessons have we learnt this year that we need to carry…
- December is here. It’s the month of bonding with family and having fun together. Whether this means road trips, a quick shopping dash, or a long drive upcountry, now is the time for you to buy that family car you’ve been saving for.
- Are you planning to sell your car? If so, you might be wondering what’s the best time to sell. Timing is everything when it comes to selling your car. It can determine how quickly you sell your car and fetch a good price for it. In this blog post, we’ll discuss the best time to sell your car and…
- I wanted to buy a car to improve my productivity. I work as a real estate saleswoman and moving around to meet clients can be challenging when I have to catch matatus frequently. Sometimes I move across the outskirts of Nairobi - Ruai, Kamangu in Kikuyu, Mua in Machakos, and Kibiku on the road that…
- Absa Kenya has taken this step further by pioneering the 'Buy Now, Pay Later' (BNPL) credit card service. Imagine a scenario where you need to replace a lost phone. With any Absa credit card, you can make the purchase and convert it into a convenient instalment plan that spans up to 12 months, at…
- The last time I tried to apply for a personal check-off loan from my old bank, I was faced with a litany of requirements including an MoU with my employer - that also required all employees of the company to open a salary account with my bank before my loan could be approved. Suffice to say, that…
- This provision has since motivated me to move my emergency fund to the Absa Digital Savings Account, this is money that I keep for a rainy day such as a job loss - I never touch this money except for very dire situations. However, rather than have it dormant, I realised, I could grow it through the…
- Like every other average “tech-savvy” Nairobian, I started ‘window shopping’ online. I scrolled through Facebook car groups and other online marketplaces. One particular car- a Toyota Allion- caught my eye. It looked sleek, and more importantly, was within my budget. I chatted with the seller and…
- Umba Microfinance Bank is licensed and regulated by the Central Bank of Kenya (CBK). The bank offers different financial products from the convenience of your phone through the Umba app. Among the financial products they offer is the Umba Fixed Deposit Account which offers customers an opportunity…
- The Umba Fixed Deposit account has one of the highest returns among passive investment options in Kenya. It offers up to 16% annual interest which makes it ideal for consideration when looking for an investment option that is above Kenya’s inflation rate. It also offers liquidity on account of the…
- I researched the various options that were available for passive income and learnt about the Umba Fixed Deposit Account. Umba is a digital bank that is licensed by the Central Bank of Kenya. It attracted my attention because it had the highest interest rate among the fixed deposit options I had…
- January is an ideal month for purchasing a locally used car for several reasons, including the increased supply of locally-used cars as car owners seek to raise cash or upgrade in the new year. As the supply increases, sellers may be more willing to negotiate prices and offer favorable deals,…
- Both chamas and the Absa Digital Savings Account provide various advantages based on your savings objectives, and they can be utilised together for diversification and risk reduction. They enable you to separate and track different savings goals effectively, the choice between the two depends on…
- Kenyans on Facebook and Instagram are set to start earning from their content in the next three months Meta, the parent company, announced the rolling out of instreams ads in the country opening up income opportunities for users with from as low as 5,000 followers. In this guide, we discuss how…
- The introduction of electronic Tax Invoice Management System (eTIMS) including for traders in the informal sector changes almost every aspect of tax compliance in Kenya giving KRA real time access to business transactions for automated tax assessments and timely tax demands. Many, including doctors…
- President William Ruto on Tuesday, March 19, signed into law the Affordable Housing Act, 2024, paving the way for the resumption of the 1.5% levy deduction from both the employer and employee. This is after resistance against the levy from the public, opposition and being declared unconstitutional…
