- If you've been keeping an eye on financial news, you may have heard about the changes brought about by the Finance Act of 2023. Among these changes is a new sub-section to section 17 of the VAT Act, which could affect your insurance premiums. But what does this mean for you and your coverage?
- Year in year out we hear of occurrences where hundreds of Kenyans are swindled and wind up losing their hard-earned money through pyramid schemes. Yet we wonder who these targets are. How do the perpetrators manage to infiltrate the masses so easily?
- Kenyans are bracing for even higher taxes as Treasury CS says that current tax regime has reached the end of the road, the Senate passed the Affordable Housing Bill which imposes a 3% monthly interest on non-remitted contributions as Remotasks exits Kenya amid the Kenya Shilling's 8-month high…
- Strengthening the KES against the US Dollar can have benefits and downsides for your finances and the broader economy. As the Shilling gains against the dollar, consider reviewing and diversifying your currency holdings to mitigate risks associated with currency fluctuations.
- The costs of not having insurance are numerous and far-reaching, spanning from the financial burdens of medical emergencies and income loss to the emotional toll of funeral expenses and property damage.
- Kenya has recently been added to the Financial Action Task Force (FATF) greylist. The FATF is the global watchdog for money laundering and terrorist financing. How is this going to affect you?
- The Kenyan economy is going through a hard time and Kenyans are the ones taking the hit. With the shilling losing its value, inflation rising, and prices of goods shooting, Kenyans are left with nothing in their pockets. They therefore have to find other means of covering their bills and…
- After finishing secondary education, there is usually a hiatus moment before transitioning to tertiary education. For many, the rather long break from education goes by without being utilised in a productive way. However, that break can be an opportunity for a Form 4 leaver to get into the world of…
- Court battles, suspensions, stay orders, fresh brawls with worker unions and expedited parliamentary legislation to regularise the Housing Levy, KRAs U-turn on eTIMS fore small businesses and farmers, 16% return on a new bond, revocation of 2nd gen alcoholic licenses and money news from the last…
- Peach Cars offers a marketplace for locally-used vehicles and applies a rigorous inspection process to all cars to ensure buyers have full information, get fair pricing, and avoid all the challenges car buyers traditionally face. Peach Cars also has professional and technical staff who understand…
- More than ever, the need to create diversified sources of income is more prevalent today. While there are many ways you can diversify your income, business is one of the most potent means of diversification. However, should you start a business this year?
- Choosing the right financial institution can make a huge difference when borrowing money. Often, this begins by choosing which type of institution, such as a Sacco or bank, to use. At a glance, they seem the same. After all, they're both offering loans. But they are not.
- Kakamega is the tenth largest town in Kenya, with a population of just shy of 2 million people. Established 30km north of the Equator, Kakamega is among the most fertile lands in Kenya, making it ideal for agricultural activities. This town is considered the heart of the Luhya people and has most…
- Through Jipange, you get a regular supply of your household essentials, such as groceries, milk, eggs, sugar, maize flour, rice, and others - based on your consumption pattern. You do not have to remember which item is running out - Jipange ensures these items are dropped like clockwork - once you…
- Entering the corporate realm can be an exciting and promising experience, filled with opportunities for personal growth and success. Learning and narrowing down the different types of corporate jobs available and a few key facts about these roles can help you as you prepare for your studies and the…
- Money Market Funds (MMFs) are investments where investors pool their money into a fund and invest in short-term, low-risk securities that range between one day and one year. MMFs are a great investment for small investors as well as large investors. They usually have low entry requirements, making…
- We tell you the story of Tushop, a Nairobi-based company that is using technology to help Nairobians enjoy the convenience of having their groceries and other household items delivered to their doorsteps at lower prices that they would get from a supermarket and open-air market. We’ll also…
- With Jipange, you select the household consumables you need on a regular basis, choose your preferred delivered schedule - weekly or monthly - and get them delivered to your doorstep for no extra charge. A shopping basket is being dropped at a doorstep somewhere every Friday or Saturday or every…
- The construction industry in Kenya is a huge market. The market was estimated at $17.3 billion in 2022 and is expected to grow by more than 5% between 2024 and 2027. Despite the tough economic times, the construction industry seems to be holding on well. Part of the resilience has been due to the…
- Uganda, Tanzania, and South Sudan rejected the trade deal with the EU. Rwanda had signed the agreement but did not ratify it for unclear reasons. A number of non-state actors in the EAC have asked the East African Court of Justice to bar Kenya from ratifying the EU deal as it would affect the…
- Payslip deductions for the controversial Social Health Insurance Fund (SHIF), previously scheduled for March pushed to July in surprise last minute change to the relief of employed Kenyans, but the upcoming 2024/25 budget holds even more tax changes that could affect your pocket - this ad more on…
- A dollar account, also known as a USD account, is a type of bank foreign currency account denominated in United States dollars (USD). It allows individuals and businesses to hold, transact, trade, and invest in/with US dollars.
- Without understanding how brokering happens on the streets, you might end up overpaying for the items you buy in the city. How do you avoid kugongwa on the streets of Nairobi?
- Applications for placement at Kenya’s tertiary institutions by 2023 from four candidates are ongoing. The process has been marred by system difficulties, resulting in Kenya Universities and Colleges Central Placement Service (KUCCPS) extending the application deadline twice. The current deadline…
- The Public Service Commission (PSC) on February 27, 2024 announced 789 job vacancies in various government ministries and departments with application deadline set for March 19, 2024. The basic salaries range from as high as Ksh576,120 to Ksh23,700 with house allowances as high as Ksh100,000 per…
- Money itself isn’t stressful, to be honest. Not knowing what my money is doing? Being afraid to check my bank balance? That’s where all the stress happens.
- There’s a thin line between risk and reward. Get it right and you’ll be on your way to the dream that is financial freedom. Get it wrong and the dream turns into your worst nightmare.
- When it comes to Nairobi, how much you spend on household items each month depends on where and when you shop. Studies show who go to the store multiple times a week purchase about 54% more than they originally planned.
- Almost 10 years ago while in college, my then girlfriend literally begged me to co-found an investment co-operative with her. I didn't. Imagine the shock and regret when two weeks ago I was reading about its expansion to East Africa on my timeline. Lost opportunities.
- From finding her passion in secondary school, training as a graphic designer at the ShangTao Media Arts College to years of employment, false starts, more false starts and finally hanging the boots as an employee, with a baby on board, to the surprise of her family and friends, we journey through…
- Over the years I have come to learn that I am solely responsible for my own happiness, and that this is all tied to choices I take, as well as decisions I make. Several mistakes here and good calls there have birthed these 5 principles of happy spending.
- From never-ending traffic snarl-ups to ever-volatile fares, road diversions, pedestrian-unfriendly infrastructure and safety concerns, commuting in Nairobi is more than just the absolute monthly fare amount.
- Kenya’s GDP contracted by 0.3% in 2020 from 5% in 2019 owing to the destabilisng effects of the Covid-19 pandemic. Tourism earnings declined by 43.9%, manufacturing contracted by 0.1% with 83% of the recorded employment in the informal sector.
- More than 4.4 million Kenyans filed their 2019 tax returns the midnight deadline in June 2020. This was an improvement from the previous year's 3.6 million Kenyans. When compared with over 19 million eligible Kenyan voters, clearly many Kenyans either do not file taxes on time or completely avoid…
- Dad might not be the richest person in the world, but his experiences with money has shaped my approach to my financial life. I have won and also lost a lot in my financial journey, but it has made my money decision-making much better. This father's day, I look back at how father figures have…
- It has been a busy week in money so far. Jobs in the banking sector have been declining as banks rush against time to reap the benefits of digitalisation - clerical employees are the collateral damage. Nevertheless, a third of CEOs from 11 sectors of economy expect to hire more full-time staff in…
- With the fuel prices on a double-digit rise month-on-month for the last four months, the Petroleum ministry says there is no end in sight. So what can you do to save your money?
- I have always shied away from conflict. Not exactly what you’d call a pacifist, just that if I have an option that doesn’t involve some form of conflict, I’d take it more often than not.
- Childcare in Nairobi can be particularly expensive. How much do you pay for your child’s daycare? Depending on the location, you could be parting with up to Ksh1,000 per day. We take a dive into what is panning out to be a lucrative business for some and an only option for others.
- Education is expensive. Especially when you don't have a financial cushion to fall back on when it is time for back to school or if your child will be transitioning from primary school to secondary school this coming week.
- Four months after the first batch of 10 Digital Credit Providers (DCPs) were given licences, the Central Bank of Kenya (CBK) has given 12 more digital lenders the greenlight to operate in Kenya. This brings the total of licensed digital lenders to 22 out of an estimated 300+ lenders.
- School fees and other school expenses can easily drain your pockets or demand from you what you do not currently have due to various challenges - including all the liquidity issues associated with January. The problem with school fees inline other expenses, there is no waiting for you to get ready…
- It's always exciting for children to go back to school after a long break. While your kids may be overly excited or anxious about their new classes, teachers, and classmates, the days before school starts can often be stressful for you.
- The Ministry of Education is providing Elimu Scholarships for learners in all 47 counties (including informal settlements in fifteen (15) urban areas). The program, that has been in existence since 2020, is supported by the World Bank-funded Secondary Education Quality Improvement Project (SEQIP)…
- According to Education CS Ezekiel Machogu, who released the Form One selection report in Nairobi on Monday, January 16, seven schools received over 100,000 applications despite having a capacity of less than 1,000 students.
- Speaking at the Kenya Institute of Curriculum Development (KICD) on Monday, January 16, Education CS Ezekiel Machigu said that all the 1,245,577 learners from 32,555 different centres across the country would transition to Junior Secondary School (JSS).
- The process of bringing unregulated digital credit providers (DCPs) under the supervision of the Central Bank of Kenya reached an important milestone on Saturday, September 17, when the window to apply for licences closed. Out of about 288 applications, only 10 have been approved.
- Good intentions alone cannot guarantee good results or even the possibility of taking the right action. My younger years have taught me as much - I have piles of expensive but worthless possessions gathering dust in my spare room to show for it.
