- The government through the Ministry of Health has given directives that all healthcare providers contracted under the Social Health Authority (SHA) to give seamless treatment to registered contributors without requiring any upfront payments.
- Investing in Money Market Funds (MMFs) remains one of the most popular options for Kenyans looking for stable, short-term returns. Here is a list of the top 15 performing MMFs in Kenya based on their daily average return in September 2024.
- The Teachers Service Commission (TSC) has announced 20,000 teaching opportunities to Junior Secondary School (JSS) Teachers on internship basis. TSC made this announcement on Tuesday ,October 29 calling on qualified candidates to apply for the opportunity that will run for 12 months.
- When the US Federal Bank (Fed) announced an aggressive 0.5% cut to interest rates in September; the Central Bank of Kenya (CBK) recently slashed its benchmark interest rate from 12.75% to 12% (2), following on from a previous cut of 0.25% in August, the country’s largest in over four years (3).
- A new report has shown that most people in the Nairobi Metropolitan area are choosing to live in satellite towns such as Juja, Ongata Rongai, and Kitengela. This shift comes as property and rental prices in these areas remain competitive compared to Nairobi's suburbs that have traditionally…
- Land prices increased by 1.6% in the third quarter of 2024 compared to the second quarter, which grew by 1.8%. Land value increased due to developers investing in high-density housing projects in Nairobi’s suburbs. Developers are rushing in to invest in land anticipating high demand for residential…
- The Communications Authority of Kenya (CA) has given directives that starting November 1, all new mobile phones manufactured locally or imported into the country for sale will have to be registered by the Kenya Revenue Authority (KRA) or will risk being shut down.
- In early 2023, a friend of mine started a wines and spirits shop. I remember him sharing updates about how well his business was doing after just three months—he was profiting over Ksh70,000 monthly after expenses. I was happy for him, but there was also a part of me that felt a pang of envy. I…
- From managing an online shop to promoting businesses through social media, smartphones have become a critical pillar for the growth of small businesses. For entrepreneurs looking to reach over 13 million Kenyans who use social media, the M-KOPA X20 can help them revolutionize their business.
- The government has announced that Junior Secondary School (JSS) teachers will have to wait longer to get the much awaited permanent and pensionable term - with recruitment set to begin in January 2025.
- I, WILLIAM SAMOEI RUTO, President and Commander-in-Chief of the Kenya Defence Forces, pursuant to Article 149(1) of the Constitution, do hereby nominate PROF. KITHURE KINDIKI, Ph.D., EGH, for consideration and confirmation through a vote of the National Assembly to be the next Deputy President of…
- What if you could drive away in a 2016 Mazda Axela instead of settling for an older model? The catch? The Axela is going for Ksh1.7 million. In this article, we’ll dive into why financing your car might be a smarter financial move than you think, and how Autochek’s car financing options can help…
- The Central Bank of Kenya (CBK) on Monday, October 14, announced it had given a go ahead to JP Morgan Chase Bank, the world’s biggest bank by market capitalization, to set up a representative office in Kenya.
- This article explores how M-KOPA’s X20 is more than just a smartphone; it's a lifeline that provides free medical insurance, ensuring Kenyans can navigate health challenges without the added burden of overwhelming costs. Here’s how the embedded hospital cash cover works and why it is a lifeline for…
- The Government has announced a 6% rise in minimum wages for workers across various sectors. Labour Cabinet Secretary Alfred Mutua made the announcement in a gazette notice issued on Friday, October 11, to take effect from November 1st 2024.
- The government, through the State Department for Housing and Urban Development, has announced there are over 5,000 bedsitters for sale on a rent-to-own basis at the Mukuru Affordable Housing Project in Nairobi. Buyers will pay Ksh3,000 monthly rent for 30 years.
- I was left with a company in ruins, a broken friendship, and a massive debt to my sister. The hotel contract was cancelled, and I had no way to repay the loan. We’d custom-made furniture for the hotel’s lobby, dining area, and lounges—pieces that now had no home.
- I-REITs offer the advantage of real estate investment without needing large capital outlays. For example, with the Vuka Investment Club, your Chama can invest in I-REITs with as low as Ksh300,000 per year.
- Starting a business in Kenya can be an exciting yet challenging journey. This is why, before you get too far ahead, it’s essential to understand one of the most critical aspects: the cost. To help you get started on the right foot, here are the costs you should plan for when starting a business in…
- The Teachers Service Commission (TSC) has initiated a significant recruitment campaign, offering 46,000 job vacancies to teachers. Out of the 46,000 available posts, 6,000 are reserved for primary schools, 39,550 for Junior Secondary Schools, and 450 for secondary schools.
- We’ve all heard about the potential of agribusiness in Kenya, but turning that potential into rapid growth can be challenging. Jonathan, CEO of Avenews, a global leader in agribusiness financing, joins us today to discuss how established agribusinesses can overcome these hurdles and achieve…
- In 2018, I was a writer on iwriter, a marketplace for freelance writers. I had risen up the ranks and was earning almost $0.02 per word. My monthly earnings averaged Ksh30,000 to Ksh50,000. This was enough for my bills but I never thought of stashing some in an emergency fund or investing in a side…
- The KRA is planning to integrate a new real-time tax system that will integrate with cryptocurrency exchanges so that crypto transactions can be tracked. This is on the back of Kenya having an estimated four million crypto users, one of the highest in Africa, a matter KRA is looking to turn to in…
- The government is seeking to implement higher taxes that will raise the production costs of commodities such as maize flour, bread, and milk, likely resulting in increased prices for consumers.
- Sibi Ratemo is the director of Nutty General Suppliers, a butchery that supplies meat. With an increasing demand for her products, particularly from one of the largest supermarket chains in the country, she struggled to secure the necessary funds to meet the supermarket’s demand. Here is how she…
- The M-KOPA X20 offers more than just a smartphone—it’s a gateway to smart money choices. With its impressive specs and added benefits like free health insurance, device protection, and cash loans, the X20 is designed to be more than a phone—it’s an investment in your future. It’s Never Just a Phone…
- In June, I lost my old phone when it fell off my bike. With only Ksh10,000 in my account and rent due, I had to make a tough choice: buy a new phone or pay rent. After weighing my options and talking to friends, I decided on the M-KOPA X20, which came highly recommended because of its daily…
- Now, with the launch of the all-new M-KOPA X20, the brand is once again setting the standard. This revolutionary device isn’t just a phone—it’s a comprehensive solution offering medical insurance, device protection, free data bundles, and access to M-KOPA cash loans, all at no extra cost
- The deadline for application had been set for Monday, October 7. Most applicants shared their grievances online saying that the main issue they faced was failure of the portal to send the one time password on time.
- Have you ever passed near a retail shop or visited an eCommerce site and seen a poster offering you the chance to buy products and pay in installments? The posters will often read, "Lipa pole pole," "Lipa baadaye," "Lipa mdogo mdogo," or "Buy now, pay later." These offers can be enticing, tempting…
- Are you planning to start a family in 2023? Congratulations! When you start a family, your lifestyle will change. You’ll have different responsibilities, priorities, and expenses. As such, it makes sense to prepare carefully before starting a family.
- The Kenya Railways Corporation on Wednesday, October 3, kicked off a luxury coach for passengers using the Standard Gauge Railway (SGR) to and from Mombasa. The launch was overseen by Transport CS Davis Chirchir. However, a spotcheck by Money254.co.ke, showed a slow uptake of the luxurious train…
- Dear Born 1993s, I like to be the bearer of good news so I will start off on this note. If you are reading this and you were born anytime in 1993, you will be turning 30 this year - The third floor is here - just like that!
- But it wasn’t just a typical family celebration; it was a moment of clarity for all of us, thanks to one sentence my grandmother said hat would change everything, “Family is strong when it stands together.” So, we decided to pool our resources. The idea was simple: each of us would contribute Ksh2,…
- The government printer announced the loss of the security papers used to print titled deeds bearing serial numbers from 5253001 to 5253367. According to the ministry of lands, the most obvious cause of the theft of the security papers was an intention by corrupt cartels to produce fake title deeds.
- Imagine now you’re preparing to construct a three-bedroom bungalow valued at Ksh3 million. Fees and taxes levied by government agencies significantly contribute to the overall budget. What further taxes and fees will you need to account for in this next phase of your home-building journey? Let’s…
- In the agreement, lecturers will now get an enhanced monthly basic salary with increments of 7% - 10% and an automatic annual increment of 4% of the basic salary will be implemented for the two-year Collective Bargaining Agreement (CBA) cycle, running from July 1, 2023, to June 30, 2025.
- In the past, the usage pattern has not mattered much when calculating insurance premiums. If you have two cars of the same make, value, and model, their premiums would traditionally be the same even if one is only driven on weekends. Motomatic from Britam offers a solution tailored to this…
- President William Ruto's administration has started negotiations with the United Arab Emirates (UAE) to get a Ksh193 billion ($1.5 billion) loan to help bridge the budget deficit after Kenya failed to acquire a loan from the International Monetary Fund (IMF) which withdrew the offer after the…
- The government has issued an urgent directive to universities after it emerged that the number of first-year university students stuck at home over failure to raise fees under the new university model hit 50,000.
- The government has issued a tender worth Ksh7.6 billion for the construction of a Bus Rapid Transport (BRT) line along the Outer Ring Road.In a notice published by the Kenya Urban Roads Authority (KURA) on Tuesday, September 24, the line will be developed using a loan from Korea that has already…
- Kenyan motorists have been handed a sigh of relief after the Court of Appeal barred the Insurance Regulatory Authority (IRA) from setting a minimum premium price on motor vehicle insurance. This means the market will continue to determine insurance pricing for customers and thus a relief to members…
- I know most people judge women harshly for leaving men because of financial reasons. What most do not realise is that it’s not only because of the situation the person is at the moment. I have often heard stories of people who live lavish lifestyles in Nairobi in their youth and end up with nowhere…
- Buying a car is an exciting milestone, but it’s also a complex process that requires careful planning, especially when importing one from abroad. Planning for all the taxes, fees, and incidental costs that come with the process is essential so you aren’t blindsided.
- Mwalimu National Sacco is among the leading savings and credit cooperatives in the country that recorded poor financial health for the fiscal year 2023 according to a report filed by the Sacco Societies Regulatory Authority (SASRA).
- Taxes and fees significantly affect the total amount you'll pay or receive in land transactions, and not being aware of these costs can lead to unexpected financial strain. You may find yourself over budget, scrambling for extra funds, or even forced to cancel your plans altogether.
- The government through the Ministry of Labour announced on Thursday, September 19 that it has reduced the pre-departure period for skilled migrant workers, among a series of reforms targeting the recruitment and deployment process for Kenyans seeking employment opportunities abroad.
- The Adani Group has dismissed allegations that it pushed for speedy approval of plans to take over the Jomo Kenyatta International Airport (JKIA) in a multi-billion deal that would see the global conglomerate operate East Africa's largest airfield for a period of 30 years.
- My Niece Yvonne is addicted to ‘soft life’ and I blame myself for letting her indulge. Yvonne is my eldest sisters’ first of two children and given all we went through as kids, I treat all my nieces and nephews as my own kids but sometimes tough love is what our loved ones need. Giving them…
- I turned 30 on November 20, 2021. It was on a Saturday. And a sobering one for that matter, since after a Friday night out with friends to usher me into the ‘third floor’, my bank balances were not looking too great.As I sipped my home-made hangover cure - lemon, ginger and honey concoction - I…
