- From relocating away from my beloved Nairobi, to cancelling a wedding and selling my car, this pandemic has pushed me to the limit. But it has taught me truly lifelong lessons.
- Predatory lending can be defined as a practice where a lender uses aggressive sale tactics to lure a borrower into a loan that is characterized by inconsiderate and abusive terms.
- Buying your first car is one of those experiences that sticks with you for a very long time. On that specific day, colors seem brighter, you develop a spring in your step and you somehow develop this urge to say hello to everyone you come across.
- Rental rates across the Kenyan capital have been on a rapid trajectory over the last decade, with tenants paying in the upwards of Ksh350,000 per month in some of the posh estates in the city. The dilemma for most Kenyans is whether to live close to the CBD, pay more rent for less space but enjoy…
- The National Treasury has retained the cost of borrowing from the newly-formed Biashara Kenya Fund at 6% making it the cheapest longer-term loan facility in Kenya. This is as compared to an average of 12.08% offered by commercial banks in Kenya as of April 2021. This is just about half the cost of…
- When Valentine Mghoi, better known as the Yarnist, started making handcrafted mats for sale, naysayers discouraged the freelance graphic designer against 'the grandma's craft'. Today, she has a fledgling business complete with international customers. She didn't stop there, she's also handing down…
- After attending financial literacy trainings for Finance majors in college, Kavata was left puzzled why these critical life skills were not being imparted on everyone and early enough. Years later in 2020 and 8 months into a new job as COO, she decided to quit and bring to life her vision of a…
- Postgraduate & Continuing Education Loan products run as an alternative window to empower Kenyans to further their studies through the provision of Loans to salaried applicants. They include the Jielimishe loan for salaried students, Training revolving fund for public servants, and training…
- HELB awards partial scholarships to Kenyans pursuing postgraduate programs (Masters or Ph.D.) in local Public or Private Universities recognized by the Commission for University Education (CUE). The value of the scholarship award is Ksh200,000 and Ksh450,000 for Masters and Ph.D. programmes…
- Up until the end of the 2020/2021 Financial Year, the DST affected any individuals or companies (both resident and non-resident) that enabled the provision of a service to any end-user located in Kenya, a fact that sparked a heated debate in the business world.
- 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.
- In investment, there are no assurances that you will make more money than you have. You take a risk, you gain or lose. But some win more than they lose - these five indicators of viable investment opportunities can help you come close to this.
- From 'Things I wish I Knew About Money in My 20s', you probably remember how I flew through that decade like free bird. Now in my early thirties, I am a new, grown, changed man. Take a sneak peek into my reflections.
- I often find myself taking a bus from Thika to Mombasa almost every other Friday after work. This is how I have been able to drive some cars that belong in the ‘when I grow up’ category. But this time round I found myself venturing into something I never thought I'd have considered.
- When an insurer collapses, policyholders are exposed to an unexpected financial loss. Insurance companies, more than any other regulated entity, are more vulnerable to insolvency despite the establishment of elaborate regulatory frameworks.
- You can never quite shake off a near-death experience, of the financial kind. I remember mine vividly. In just one afternoon I was well reminded that it now costs more to amuse a child than it once did to educate his father.
- The lure of making millions coupled with the economic impact of the Covid-19 pandemic, has resulted in hundreds - if not thousands of Kenyans falling victim to elaborate get-rich-quick schemes. Scammers are at work reinventing themselves, coming up with new ways to convince Kenyans to part with…
- Have you ever been in a situation where you feel you need to make a financial decision RIGHT NOW? Many life events present us with decisions that put us under pressure to act immediately. And life is indeed about choices, especially financial ones. Our circumstances will often be a reflection of…
- During the last 2 years, there has been a notable exodus of people from Nairobi to the city’s satellite towns, as well as to the rural areas. This can be attributed to the Covid-19 pandemic as well as the effects of devolution.
- The acquisition of two local microfinance banks (MFBs) has taken a major step forward after the National Treasury approved the request to exempt them from the 25% single shareholder limit as provided for in Section 19 of the Microfinance Act.
- Saccos in Kenya are set to usher in a new dawn following several proposed changes in the regulatory framework governing cooperatives. Dubbed The cooperative (amendment) bill, several proposals have been put forward that would see some significant changes in the Co-operative Societies Act (No,12 of…
- I make my way to 40Forty Lounge in Westlands just before the madness known as Nairobi rush hour kicks in. I am here to meet Ndegwa Matimu – a 35-year-old visionary who has invested heavily in Kenya’s Interior Decor scene (more on that later).
- In 2016, something unusual happened. The death of a secretary at a law firm in New York City made global headlines. It’s not every day that you’d find the demise of a secretary doing the runs across all major news networks.
- One of my friends was the one who imparted that lesson on me by making that particular mistake for me. Pressure from the bride to be, which was created by the in-laws (as we later came to learn) led him to make the cardinal sin, he took out a loan to cater for his wedding.
- While it’s true that innovative products and business models are the bedrock of any promising startup, a steady flow of funds, especially in the early stages, to turn those ideas into reality is also critical.
- Living in Nairobi can be an expensive affair even for the most financially disciplined individuals. Prices of basic necessities have skyrocketed over the last few years. If you walk into your favorite supermarket and pick out 2kg of rice, 2kg of sugar, and 2 litres of cooking oil, your Ksh1,000…
- “You need at least 12 licenses to start a hotel in Kenya,” reads an excerpt from a tweet that triggered Kenya’s business community recently. Starting a business is a very demanding undertaking. However, starting one in Kenya is even more challenging as countless entrepreneurs went on to attest…
- For the most part, everyone has the option of retiring early. Whether you define "early" as 63, 40, or even 35, the point is to make more time for yourself and your loved ones while you can.
- It’s been a busy last seven days. From plans to send 700 Nairobi Metropolitan Services (NMS) employees home to farmers getting relief due to subsidised fertiliser prices to reports revealing that most Kenyans do not have a retirement savings plan, there have been a number of developments in the…
- It’s a new month! Are you looking for a government job, either to change careers, get new experience, or earn a better pay? Are you looking for some foundational work experience, too? Well, this article provides a roundup of open employment opportunities in government institutions you can apply for…
- Once I tie the knot, that’s it. I will no longer hang out with my single friends as a matter of principle.Just to be clear, I mean the forms of single that are present in Nairobi ie single but still friends with an ex, single with baby mama drama, single with bestie, and single coz she hasn’t asked…
- You must have already heard of the dangers of living beyond one’s means. What you may not really know is you could actually be one of those unenviable people living beyond their means. It is one of the surest ways to not just retire poor but to also live a low quality life, to never own what you…
- Why are you living in Nairobi? If you have a regular 8-5 job, well and good. However, if no employer needs you in some kind of office, then what makes Nairobi your preferred dwelling place? If living in Nairobi is causing you sleepless nights in terms of expenses, and you have no obligations to…
- Nairobi is not referred to as the concrete jungle for no reason. It takes a lot of wit, resilience, and patience to make an honest living in the city. There are countless ways in which scammers obtain your private information – and just when you think you've figured it all out, they come up with…
- Following the highly publicised and heartbreaking evictions over non-payment of rent during the pandemic, the National Assembly is in the process of approving a Bill that is aimed at levelling the playing field when it comes to landlord-tenant relationships.
- I am at that stage in life where all my friends are either married, with kids, or both. Scrolling through Facebook the other day (something I rarely do), I was taken aback when I saw a former desk-mate of mine posing with his wife and two almost fully grown kids.
- The Finance Bill, 2022 went through the First Reading on April 13, 2022, and to say it has led to an uproar among Kenyans would be an understatement. From media personalities to the Kenya Association of Manufacturers, Kenyans have been vocal about some of the proposed changes that will see more…
- The highest paying job in Kenya’s private sector in 2021 were in the extraterritorial organisations and bodies industry, where employees raked in an average of Ksh3,757,013 per year, translating to about Ksh313,084 per month.
- With no medical cover, the rainy day account didn’t even make it past week one. We had to engage friends and loved ones in a WhatsApp group that was created specifically to raise the money needed. It was a lot. If you don’t have health insurance, I beseech you to find a way to set this up.
- Thika, Juja, Ruiru towns reflected a surge in investor demand which was reflected in land asking prices increasing by 6.3%, 4.6%, and 1.6% respectively. Ruaka is emerging as the leader of satellite town in demand for and increase in value of apartments. Land as an investment continues to outperform…
- The Nairobi expressway, which is set to be opened to the general public on May 14, 2022, will feature several payment discounts. Moja Expressway, a subsidiary of China Road and Bridge Corporation (CRBC), recently publicised a discount system in a bid to encourage road users to adopt their card…
- Moving out and into your own place is seen as a right of passage by most. A statement declaring your independence and transition into adulthood. However, extenuating circumstances could force one to move back home. This could potentially lead to conflict.
- Remember when I told you guys about how and why I quit betting? Well, I left out a few things that have since resurfaced, and I need to explain. Have I relapsed, not exactly…I am betting yes, but on something else entirely.
- The history of co-operative societies in Kenya dates back 113 years ago in 1908 when the first co-operative society was established - a dairy co-operative. Today, Saccos are the number one alternative to banks. How did we get here? And what should you think about before joining a Sacco?
- The early twenties are a period of exploration, figuring out our true life goals and experimentation. We do make many financial mistakes during this period and as we approach our 30s and 40s, we look at some of the lost opportunities and learnings. Take it from me, decisions we make in our twenties…
- With the discontinuation of the KCB Mobiloan last week, consumers have to contend with marginally more expensive loan products as Mobiloan was seen as the cheapest digital credit facility when compared with other lenders in the market. It's replacement, Vooma, however still appears to be one of the…
- About two taxes and seven levies that EPRA incorporates in its formula to set duel prices account for over 48% of the total cost at the pump. This means that consumers pay more in taxes and levies than the actual cost of the fuel.
- Local experts estimate that top TikTok creators in Kenya can easily earn between $2,000 (Ksh287,800) and $3,000 (Ksh431,700) per month from TikTok Live virtual gifts. It is these live streams that have attracted nationwide condemnation following growing abuse of the platform's affordances.
- Government ministries, departments and agencies have until the end of today to migrate to the new payment method unveiled by President William Ruto on June 30 following the termination of over 1,400 PayBill numbers that Kenyans have been using to pay for various government services - many available…
