- Investors in Treasury bills and bonds are facing steep losses as returns on government securities plunge, driven by successive cuts to the Central Bank of Kenya's (CBK) benchmark rate since August.
- The new law effectively means all microfinance institutions will now be regulated by the CBK. Previously, only deposit-taking microfinance banks have been regulated while those in the lending sector have largely been regulated. The lending microfinance have come under criticism on claims of…
- Twelve Kenyan banks must raise a combined Ksh11.85 billion by December 2025 to meet the new minimum core capital requirement of Ksh3 billion, following a recently passed law. The banks include Consolidated Bank ,Access Bank , HFC ,and Habib Bank AG Zurich.
- The IMF has distanced itself from public backlash over Kenya’s Finance Bill 2024, emphasizing that revenue measures are the government’s sole decision. IMF clarified that the fund provides advisory support to help Kenya achieve fiscal consolidation and macroeconomic stability, but specific policy…
- New years is the best time to set goals for yourself. It is when you plan to replace your bad habits with good ones. Some people resolve to eat healthily and get fit; others plan to travel more, while others plan to be family oriented. All those are great plans, but do you have financial…
- New Year Resolutions if planned and defined well can turn around one's life positively, and especially financial resolutions. But you cannot be jumping on the bandwagon of the ideas of others and neither can you sit and wait for things to just happen. We have some ideas for you to consider.
- There's no better way to the the year that to conduct a financial health check on yourself. What you will need is a checklist that gives you a 360-degree view of personal finance. This article explores a 10-step checklist to help you wrap up your year and rev up for 2025 with confidence.
- The Insurance Regulatory Authority (IRA) has revealed that 23 insurance companies in Kenya ended the 2023 financial year with insufficient capital, raising concerns over their ability to meet obligations, including paying claims. These 23 insurers had a combined capital shortfall of Ksh32.2 billion.
- Public servants, including MPs, may soon enjoy tax-free reimbursements for work expenses if President William Ruto signs the Tax (Laws) Amendment Bill. This change could exempt reimbursements for official expenses, including asset purchases.
- Kenyans may face higher electricity bills if a new Street Lighting Infrastructural Support Levy (SLISL) is introduced as proposed by the National Assembly Committee on Energy. The levy, to be included in monthly electricity bills, aims to fund street lighting projects, boosting security and…
- The Finance and Planning Committee has passed an amendment that will spare small businesses from mandatory eTIMs invoices. At the moment, businesses are required to generate electronic invoices for all transactions, but starting January 2025, small businesses may instead need only to maintain a…
- I swiped right and boom! It was a match. As the independent girl I am, I jumped at the chance to pay the bill. He insisted otherwise, but I was determined to prove that not all girls were out to “eat” men's money. There’s a feeling that comes with taking care of the check, a sense of empowerment.
- A new KNBS report has revealed a sharp increase in female employees joining the league of Kenyans who earn over Ksh100,000 per month, despite men remaining more in the overall number. The report indicates that 15,252 Kenyans joined the club of top earners in 2023. Out of this, 14,268 (92%) are…
- If you're struggling with mounting debt due to high interest rates or reduced income, you might be looking for a way to regain control of your finances. One path you can take to reduce the cost of the loan or monthly repayments is to change lenders through loan buyoffs.
- Kenyan banks have slashed loans to households and businesses by Ksh122.1 billion in the first nine months of 2024, marking the steepest decline in decades. This reduction, attributed to costly credit and high-interest rates, has triggered a cash crunch, rising defaults, and slowed economic activity.
- 2022 is finally ending, meaning you just need to make a few financial moves to end it on a high note. And what’s better than giving yourself a financial performance review, reflecting on how you used your money, and planning for 2025?
- M-KOPA has announced it will be sponsoring Kenya’s leading basketball team Nairobi City Thunder in the Basketball Africa League (BAL) Elite 16 Qualifiers which kicked off on Thursday, November 28. M-KOPA had announced free tickets for the first 1,000 fans to arrive at Kasarani Stadiums where the…
- The year is finally ending, and you feel like you deserve a break. Whether 2024 has been a great or not-so-great one, the best way to unwind and recharge before the new year starts is to take a vacation. But is taking a holiday during the peak season, i.e., December, a good move, or should you…
- Are you proud of how you have been spending money this year? Do you feel like you have been wasting money, struggling to save, or just want to turn a blind eye to the consumerism of the holidays and get your financial house in order? If your answer is yes, you should try the no-spend December…
- US President-elect Donalt Trump has threatened a major trade war with BRICs, a global body that Kenya recently requested membership. BRICs is an acronym for Brazil, Russia, India, and China - a formation of major emerging economies that has sought to de-dolarrise international trade.
- The Competition Authority of Kenya (CAK) has stated it will not investigate claims that Starlink is using lower prices to unfairly attract customers from local internet service providers (ISPs). According to CAK, Starlink, a new entrant in the Kenya, does not yet hold enough market power to…
- I never saw it coming. Landing my first job at a financial institution was like stepping into a dream. Fresh out of a public university in Nairobi, I felt like I’d finally arrived. And to top it off, my new employer had a sweet perk: low-interest loans for employees. It was like those Black…
- The Central Bank of Uganda has been hacked and about Ksh2.1 billion stolen, the Daily Monitor reports. The hacking was reportedly carried out by a group of anonymous hackers from South East Asia who go by the moniker “Waste”. Investigations into the matter are being carried out by the country’s…
- If you lose a birth certificate, replacing it will cost Ksh1,000, a more than ten-fold increase from Ksh90. Additionally, correcting errors on these documents will now cost Ksh1,000, instead of the previous Ksh130. Kenyans living abroad will face even higher fees, with document amendments priced at…
- Many agribusinesses are stuck in a frustrating cycle of uncertain and insufficient funding, unable to grow their operations. Money254 takes a look at Agri Credit Line by Avenews Kenya, a flexible financing product, what it offers and how it could fit the needs of agribusiness owners navigating…
- I set a goal of saving Ksh300,000 by the end of the year, a significant jump from the Ksh200,000 I managed to put aside last year. I work as a mid-level accountant at an FMCG company in Eastleigh, Nairobi. At the start of the year, my net salary was Ksh70,000. I was able to save Ksh449,000,…
- In today’s news, the ramifications of President William Ruto’s decision to cancel two contracts awarded to the Adani Group dominated major news headlines. PwC has raised concerns about the potential negative impact of proposed tax changes in the Tax Laws (Amendment) Bill, 2024, and the Tax…
- A week after Transport CS Davis Chirchir defended India’s Adani Group against corruption allegations, its CEO Gautam Adani and senior executives were charged in the US over a Ksh32 billion bribery scheme.
- The National Bank of Kenya has warned that it may auction the affordable housing units at Jeevanjee Estate in Pangani, Nairobi, to recover a Ksh1.9 billion loan tied to the mother title. NGOs, and churches, now dominate Treasury bill holdings at 56% (Ksh346 billion) of the Ksh615 billion market,…
- My uncle had chances, to rebuild, to provide for his family, to rise again. But he squandered them all, believing there would always be another opportunity. I resolved to learn from his mistakes. Wealth isn’t just about earning; it’s about protecting, managing, and growing what you have.
- The National Treasury aims to raise an additional Ksh343 billion in tax revenue for the 2024/25 financial year, targeting a total of Ksh2.732 trillion amid mounting debt pressures and a Ksh4.329 trillion budget. Further, Kenya's CA is seeking the UN's assistance to regulate satellite providers like…
- You have been saving diligently all year, well done. But what you do next with that money you have accumulated the whole of 2022 will be more important than the sacrifices you've been making. If you did not have a plan for your savings, it's time to pause and consider all the available options.
- You know that feeling when you make your first real cash from a side hustle? That was me when my Mitumba hustle hit its first Ksh10,000 profit. It all started with a trip to Gikomba and ended with a new smartphone in my hand. The phone helps me track deliveries, edit photos, and manage customer…
- Eight years, two children, and countless school runs later, I found myself longing for more. The kids were in school, and I wanted to reclaim my sense of identity—not just as "Mom," but as "Professional Me." So, here I am, back in the corporate world in my 40s. It’s not easy, but I’ve learned a few…
- An IMF report found that 97% of government institutions in Kenya have not disclosed the beneficiaries behind their awarded tenders. The Senate has launched an investigation into allegations of collusion between the Social Health Authority and private insurers over a Ksh6.3 billion medical contract…
- Public institutions in Kenya have defaulted on Ksh266.5 billion in Treasury-backed loans, potentially placing taxpayers on the hook for a total of Ksh946 billion. Mobile money usage is highest in Kenya’s construction sector, with 66.7% of businesses preferring it for transactions due to the…
- Investing in Money Market Funds (MMFs) remains a popular choice for Kenyans seeking stable, short-term returns. However, October 2024 saw a decline in MMF rates, continuing a downward trend. The overall average daily effective rate dropped to 14.21% per annum, down from September’s 14.48% rate.
- KRA has issued a directive for all taxpayers to verify their mobile phone numbers in the iTax system. Central Bank of Kenya (CBK) is the nation’s wealthiest parastatal with assets valued at Ksh1.96 trillion as of June 2024. Kenya Railways has defaulted on a Sh167.5 billion loan from China for…
- If you're in the market for a new phone or laptop, importing from the US could save you money while giving you access to a broader range of products. Electronics in Kenya often come with higher markups due to shipping, taxes, distributor costs, and sellers profit, making direct imports a cost-…
- Oil marketers in Kenya are pressing for a revision of the fuel pricing formula, which they say no longer reflects the rising costs of supply. Kenya is preparing to reintroduce a carbon tax with guidance from the IMF. Kenya's foreign exchange reserves hit a three-year high of $9.32 billion, rising…
- Safaricom Plc has released its financial results for the first half of the financial year ending March 2025. The results reinforce the telco’s place as the region’s leading telecommunications and digital financial services provider. The company recorded group revenues of Ksh181 billion for the half…
- The National Assembly’s Committee on Delegated Legislation has approved a Ksh 10 increase in the road maintenance levy, raising it to Ksh28 per liter for petrol and diesel. According to Capital Business, this decision aims to support the growing need for road maintenance as Kenya's road network…
- Misfortune never walks alone; it matches with a parade. Mine started when my dad passed away. I had never known tragedy until then. And five years later, I have just begun accepting life and doing what I have to. I want to build that kind of wealth, the kind that lasts, the kind that no misfortune…
- Safaricom’s half-year financial results for 2025 reveal impressive growth, with group service revenue rising by 12.9% to Ksh177.5 billion. With Trump's return, it is unclear whether the new administration will revive the FTA talks, especially with the expiration of the Africa Growth and Opportunity…
- The IMF has warned Kenya against cutting interest rates further, despite the recent drop in inflation and stability of the shilling. In its first month, Kenya’s new SHA portal has processed over Sh1.6 billion in health service claims from hospitals. Turaco became Kenya’s first insurtech company to…
- When seeking financial freedom, your need to ensure every aspect of your finances is handled well, you’re saving, you’re not overspending, and you can live comfortably while planning for the future. However, this doesn't happen overnight, and you must take measures and adopt principles that can…
- Like every person, I often think of how life would have been if I had come from generational wealth. And I do not mean the 10 acres of land my grandfather left his 8 kids but more like 100 acres for each offspring. Or in the Kenyattas or Koinange’s kind of generational wealth. In those days, he was…
- The Kenyan government has announced a data-sharing agreement with telecommunication companies to improve tax compliance. Kenyan banks have increasingly used the Central Bank of Kenya’s (CBK) discount window. 𝗡𝗲𝘄 𝗞𝗥𝗔 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝗠𝗼𝗯𝗶𝗹𝗲 𝗗𝗲𝘃𝗶𝗰𝗲 𝗜𝗺𝗽𝗼𝗿𝘁𝘀. 𝗞𝗲𝗻𝘆𝗮 𝗥𝗲𝗾𝘂𝗲𝘀𝘁𝘀 𝗥𝗲𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝗶𝗻 𝗜𝗠𝗙 𝗔𝗰𝗰𝗲𝘀𝘀.
- Today, much of the conversation centres around the National Treasury’s proposed changes to the tax regime through the Business Laws Amendment Bill 2024, the Tax Laws (Amendment) Bill 2024, the Tax Procedures (Amendment) Bill 2024, and the Public Finance (Amendment) Bill 2024.
- Kiyosaki defines leveraging as investing funds from external sources to make money using other people’s money. While researching how wealthy people grow their wealth, I discovered borrowing against my Sacco deposit to invest in Treasury bonds, and turning my small savings into a growing source of…
