- Is it possible to survive in Nairobi without a monthly salary? Working a regular 8-5 job is popular because it offers predictability, stability and at times growth. But what happens on the other side of the divide?
- Kenya finds itself in danger of skyrocketing food prices following the Ukraine-Russia conflict. Having barely survived the adverse economic impact of the Covid-19 pandemic, Kenyans are now facing one of the toughest periods in the country’s history.
- In Kenya, Saccos have always been considered as a major avenue for promoting savings and access to credit services. Sacco membership in Kenya stands at over 10 million members indicating the indelible contribution the sub-sector has been making towards achieving financial inclusion.
- My job commitments meant Ken would have to shoulder the burden of all out-of-Nairobi projects. This is why I found no issue when he asked if we could convert our business account withdrawal instructions from ‘both to sign’ to ‘either to sign’. It looked more efficient.
- Moving houses is often described as an energy-draining experience, as well as a money-draining one. However, this can also be taken as an opportunity to start afresh and make some serious savings in the process.
- The lion’s share of the executive budget will go to the Ministry of Education, which will receive Ksh525.9 billion. Ksh368.3 billion will go to the Energy Ministry and Ksh203.1 billion to National Security. Meanwhile, the Ministry of Health and Ministry of Agriculture will receive Ksh126.4 billion…
- Now here we were, in the very apartment taking photos of his most prized possessions to post for sale online. He had decided to do this to raise funds for our new venture as we both had to chip in equal sums as start-up capital. He also needed the money to get the ‘wolves’ off his back
- President Uhuru Kenyatta has overseen large-scale changes in Kenya’s national budget over his two terms. Some ministries have seen their allocation more than triple during this period
- Taxpayers who do not have a source of income are permitted to file KRA Nil Returns. What source of income means is that you either have no business, rental, or employment income, for the return period under review which necessitates the submission of KRA Nil Returns on the iTax Portal.
- A feast is made for laughter, wine makes life merry, and money is the answer for everything ~ Ecclesiastes 10:19. This has always been my go-to verse when any of my friends decides to go on some fake-deep soliloquy on how money can’t buy happiness.
- What is cheaper: cooking with an electric cooker or gas? This is a question that has resurfaced recently after the Kenya Power and Lighting Company and LPG gas suppliers both reviewed and adjusted their prices.
- Behind every successful man, there’s always a beautiful wound. A story that left not only wounds and scars, but life lessons as well. Mine involves a job, a bar, and a girl. The year was 2014. West Africa was battling the “most severe and most complex Ebola epidemic”, Russia fought Ukraine over…
- Kenya’s third president – the late Mwai Kibaki, is well known for his role in Kenya’s economic transformation. He was not a perfect man, and this is not a piece seeking to eulogise perfection, but rather one that seeks to highlight how his tactics can be used to improve personal financial health.
- Last week I was shamba hunting in the depths of Ruai. Yes, I am one of those people who are still very sold to the kaploti, you can’t go wrong with a kaploti somewhere, anywhere gospel. Tell me about a kaploti going for a ‘deal’ and I will be fueling to go. Yes, when you turn 30 you don’t just…
- I was recently in conversation with one of my would-be mentees and I just couldn't help but laugh at the fact that they were insisting on making the same mistakes I did. Well, I wasn’t exactly laughing at them however amused I was at the absurdity of what some people would describe as the…
- Forty Digital Credit Providers (DCPs) are under investigation over claims of breaching data privacy laws following complaints from customers. This comes at a time when digital lenders have come under the supervision of the Central Bank of Kenya after years of operating unregulated.
- Read the transcript of President William Samoei Ruto from earlier today during the opening of the 13th Parliament where he laid out his administration's legislative agenda that largely stuck to his "bottom up" economic model agenda on empowering the lower access with access to affordable credit,…
- President William on Tuesday, September 27, named his nominees to the cabinet exactly two weeks after his swearing in on August 13. President Ruto did not retain any serving CS from the immediate former President Uhuru Kenyatta administration while bringing in a number of current and former…
- Just about 9 months since the launch of the financial inclusion fund, Hustler Fund, over Ksh33 billion has been disbursed to some 17.2 million Kenyans with over Ksh10 billion currently outstanding. Kenyans holding about Ksh3 Billion of this outstanding amount are not repaying. This even as the…
- Ana analysis of data from the Kenya Universities and Colleges Central Placement Service (KUCCPS) shows that a staggering 104 academic programmes offered by Kenyan universities only attracted a maximum of 10 students each. Some of these degrees had been projected to be crucial to the attainment of…
- “I would like to persuade this committee not to bring back the interest rate caps. It has been a disaster. If you bring back that law, it will be a disaster to the economy,” CBK Governor Dr Kamau Thugge remarked while responding to Baringo MP Joseph Makila’s revelation that he had drafted a bill to…
- My 20s were an incredible phase of my life. I came to Nairobi a few days after entering the second floor. I had a relatively easy life studying because, in my second year on campus, I started earning some income as a freelance writer.
- Defaulting hustlers can withdraw savings earlier than "good" Hustler Fund borrowers, Safaricom reduces the cost of postpaid and monthly plans but removes minutes rollover while from January bank to mobile money transfer charges resume after 34 months on Money254 Money Updates.
- If all Ksh50 billion of the Hustler Fund went to the 14-day consumer loan product at 8% per annum product we’ve heard about, the Hustler Fund would need to achieve an astounding 99.7% repayment rate on each 14 day-loan cycle to stay afloat.
- Following the official launch of the Hustler’s Fund by President William Ruto on the afternoon of Wednesday, November 30, 2023, Kenyans can now apply for the funds also known as the Financial Inclusion Fund from the comfort, convenience and privacy of their mobile phones.
- President William Ruto has promised to start the Ksh50 billion annual hustler fund on December 1, 2022. The funds will be made available to individuals, groups and small enterprises at a one-digit interest rate of 8% per annum.
- Comprehensive insurance is a mandatory requirement for one to qualify for motor vehicle purchase financing as well as logbook loans in Kenya. One of the biggest reasons that people take out auto financing is to start or support income-generating efforts and smaller engine cars.
- 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 this week!
- Nairobi, Wednesday, October 26 - Full intentional disclosure of all costs associated with loans and clear communication of loan terms to potential borrowers is at the core of improving loan repayments and access to finance. This is according to Lorcan O Cathain, the CEO of Money254 - Kenya’s…
- The one downside to having the Impreza is that it can have high fuel consumption especially when you have a heavy foot like myself. I like speed and acceleration has a negative effect on consumption. When in the city, I get 7-8.5 kilometres per litre. When driving on a highway, I get up to 10…
- International tourists will also affected by the new prices, as the cost of the daily park fee for foreigners will hike from Ksh10,500 ($70) to Ksh30,000 ($200) during the peak season (July 1 - December 31st. This is the period when the wildebeest migration happens, recognized as one of the seven…
- We are thrilled to announce that Money254 has been nominated for the Best Mobile App Awards 2023, under the Best Savings and Goal Tracking App category. Now, we need your help us secure this award!
- From a new law allowing Treasury to sell government-owned firms without seeking Parliamentary approval, to a 48% rise in bad loans originating from the manufacturing sector amid business closures, to record revenue increase from e-Citizen and proposals to impose minimum tax bands, all the money…
- On Money Weekly this week, KRA announces a tax amnesty that lasts till June 2024, e-auctions mean importers need to clear goods faster, President Ruto directs ministries to cut spending by 10%, loan defaults hit 16-year high as the CBK defies speculations, cost of living hits 5-year high as fuel…
- The Zenka Digital loan is super quick to get, usually taking about a minute or less to arrive. This makes it ideal for use in emergency situations where money is needed urgently. Some of the examples include medical emergencies, urgent car repairs, unforeseen education expenses such as an impromptu…
- If you are planning on moving to Australia through a study visa route but with the primary motive of securing employment, you may want to reassess the viability of your plans following the latest changes in Australian immigration rules that seek to halt skyrocketing cases of foreign students…
- Tiktok to launch Kenya offices after meeting President Ruto, get ready for costly mitumba if new tax proposal is adopted, 'Mama Pima' affordable edible oils dispensers hit the market, CS Kindiki declares Nyayo House a 'crime scene', new salaries of police officers revealed and more money news in…
- In ancient Egypt, people would gather to “shower” an expectant mother with gifts and affection to celebrate a new life. Since then, the practice has spread to different cultures ensuring that mothers receive advice, gifts, and other necessary products to prepare for the birth of their first child.…
- The Kenya Revenue Authority has been barred from collecting the 1.5% Housing Fund Levy from salaried workers by the High Court terming the levy as constitutional and irrational. This comes a day after the 2.75% Social Health Insurance Fund (SHIF) deductions, that were to take effect in January were…
- Barely a week after President William Ruto revealed the government’s commitment to sell off at least 35 state corporations, the National Treasury has announced the first 11 government-owned companies set to be privatised. Head of state says another 100 government-owned companies are lined up for…
- Through this partnership, more Kenyan consumers will be enabled to compare and purchase insurance policies directly from the mTek app at no extra cost, compare insurance policies to get the best option based on their unique needs and also file claims conveniently through their mobile devices.
- Money254 has been recognised as the best mobile app in Kenya’s Savings and Goal Tracking category. The recognition was made at the Mobile Apps Award held on Thursday evening, November 2023, where Money254 bagged the gold award at a colourful award gala held at the Sarova Panafric.
- Education CS Ezekiel Machogu on Thursday, November 23, released the results of the 2023 Kenya Certificate of Primary Education (KCPE) examination. The CS announced that the top student scored 428 marks. A total of 1,415,315 candidates enrolled for the last KCPE exam, the last one as the 8-4-4…
- The KCB Group has reported a Ksh30.7 billion net profit for the nine months leading up to September 2023 up from the Ksh30.6 billion profit posted over the same period in 2022. This coming from a strong growth in Quarter 3, 2023, where the group recorded a 34% growth in net earnings of Ksh14.6…
- In today's money brief: World Bank grants a Ksh1.8 trillion loan, government allocates funds to stabilize milk prices, Kenya Power authorised to recover Ksh6.5 billion from consumers, Posta's salary crisis addressed by Parliament and a new report shows the skills most sought after by Kenyan…
- From the news that EPRA could be doubling the Petroleum Regulatory Levy further increasing the cost of fuel and electricity, to the new battleground between KRA and lawyers over client cash held in banks, plus details of diaspora remittances and the government's bilateral talks with Saudi Arabia to…
- From the mandatory SHIF registration, to the revelation that the Govt has cut subsidies to a trickle and the invitation to share your view on the hiked fees to access government services plus lower calling rates are coming next year as well as promised by President Ruto to lower fuel prices next…
- I have a substantial report to give on the progress made in fulfilling this solemn covenant, and that the journey of transforming Kenya for the benefit of present and future generations is fully underway. Its positive effects have also begun to bear fruit across many sectors of national endeavour…
