- 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…
- If you are not already a Sacco member and have considered joining one, you must have many questions and seek answers. You've come to the right place. This article will answer 20 of the most frequently asked questions about Saccos in Kenya.
- Kenya Power now has the greenlight to charge some electricity consumers in US Dollars, Euros and Sterling Pounds after receiving regulatory approval from EPRA. To address concerns about the legality of billing in foreign currency, Kenya Power assures that only willing customers will be billed with…
- Kengen, independent power producers to start selling power directly to consumers, details of Ruto's Ksh4.2 Trillion Budget For 2024/25, banks start adjusting loan interest to new record highs of over 26%, Treasury proposes budget cuts including on development as bond yields fall on Eurobond buyback…
- We look forward to weekends because during the weekends we get time to hang out with our friends. We get to share ideas and take part in different activities together. For some people, these friends might also be friends from work. Other people prefer to separate work from their social lives.…
- When you hear someone quit their job, your first assumption might be, the pay must have been bad. However, there are more reasons why people quit their jobs even when they might be earning a comfortable amount of money.
- Starting March 2024, Kenyan workers can anticipate notable changes in their payslip deductions, as the government has introduced revisions and additions to the payroll structure.
- Financial infidelity is the hiding of financial information or not disclosing your partner's financial activities. Making financial commitments without your partner's consent. This is not to be confused with financial irresponsibility.
- The freelance gig economy was also accelerated by the COVID-19 pandemic. The pandemic made companies reassess their way of working and figure out how to get things done remotely. This detached the work being done from physical availability. The question on many Kenyans' minds is, what are these…
- Traditional bank loans have been a common choice for entrepreneurs looking for funds to support their ventures for years. However, bank business loans often involve a lengthy application process, especially for first-time borrowers. For small business owners looking for quick funding when time is…
- From the details of the $1.5 billion Eurobond secured at a staggering 10.375% yield rate to pay for the $2 billion 2014 Eurobond, to a plan to raise Ksh1trn from Kenyans in the diaspora, SHIF deductions to begin next month, expensive cooking gas and a 10x growth in avocado exports to China and more…
- Financial gurus say that the only way to achieve financial freedom is by making your money work for you through investments. There are numerous types of investments. Two of them are Unit Trusts and Money Market Funds (MMFs).
- In pursuing a harmonious partnership, the age-old adage from the good book holds true. Can two walk together unless they agree? This sentiment resonates strongly when it comes to financial compatibility among couples. It emphasizes the need for shared perspectives on money matters.
- While Valentine’s Day may be a day to celebrate love, it's also when would-be Romeos’ and Juliets’ end up making financial mistakes. Love doesn’t cost a thing but financial mistakes made due to love do.
- In Kenya, Money Market Funds have gained popularity as a preferred investment option due to their unique features and benefits. This article explores the key features of Money Market Funds in Kenya and offers insights into the considerations investors should keep in mind when venturing into this…
- From the record rise in the Central Bank Rate, last seen in 2012, to the revelation of the billions collected via the Housing Levy deductions and the easing of the dollar rate to lower cost of electricity, rising value of properties in Nairobi and good tidings for avocado, flower and cotton farmers…
- As an investor traversing the money-making jungle, there are numerous investing vehicles that you can use. However, to pick the right vehicle for yourself you need to understand your investment objectives and goals. If your investing objective is to invest in stable, low-risk, high-liquidy vehicles…
- Joining a Sacco is a great idea. It will allow you to earn dividends and interest on your savings. You will also access affordable loans and get to be part of a member-centric financial organisation where your voice can be heard. Nonetheless, due diligence is always vital.
- Valentine's is just around the corner. You are probably thinking about something special you will do with your partner on that day or something special you will gift them. Whatever you do on Valentine’s does not have to be financially denting. Some activities and gifts can also be financially…
- Land prices in six satellite towns around Nairobi experienced double-digit increases in 2023, providing investors with returns comparable to high-yielding government bonds. In this article we explore the list of the top areas in Nairobi where land has been appreciating at the fastest rate,…
- Treasury bonds are an investment instrument offered by the Central Bank. They are amongst the most stable investments one can make. However, how do you invest in Treasury bonds?
- In the current volatile economy where businesses are closing down, inflation is off the charts, and the currency is losing value, finding an investment asset you can invest in can be daunting. Although there are no investments where you are guaranteed the safety of your money and a return, some…
- Where there's a sea of people, there's an ocean of opportunities. Nairobi is a bustling metropolis where every individual is a potential customer, and every demand is a potential market. The diverse needs of the vibrant Nairobi population open doors to many business prospects.
- Among major highways that will take up a chunk of the 394 billion is the 462-kilometre Nairobi-Mombasa dual carriage, which will receive a budget of Ksh25 billion during the five-year period. The project is expected to be undertake in a public-private partnership and will receive its first funding…
- Loans can be an important tool for turning your dreams into reality. Whether purchasing a home, starting a business, funding education, or buying a car, loans provide the financial means to achieve various far-reaching goals. But with the privilege of borrowing comes the responsibility of repayment…
- Non-salaried Kenyans who cannot raise the mandatory annual SHIF contributions will be compelled to take take a loan, a laundry list of challenges in Kenya's healthcare system broken down, the "unstoppable" housing levy, mandatory digital fares coming to matatus and more money news from the last…
- WhatsApp has given its users a lot of freedom in how they can communicate on any type of occasion, however, freedom without rules is often a recipe for disaster. This applies to WhatsApp groups and communities as well, they can only work effectively with some basic etiquette. To get the most out of…
- Loans can be a valuable tool, providing financial flexibility and opportunities when used wisely. However, circumstances that transform a manageable loan into an overwhelming burden can arise. Factors such as a sudden reduction in income, dishonesty during the application process, lack of a…
- Peach Cars is a car marketplace dedicated to the sale of locally-used cars. It has a ready audience of high-intent clients who are actively looking for verified used cars - a first-of-its-kind platform in Kenya. By using Peach Cars, you are tapping into a broad pool of potential buyers that…
- The new year is upon us and there is no time like now to work on renewing your financial-related resolutions. Whether you plan to save more, invest more, or improve your financial literacy, there are a lot of institutions and resources both online and in person that could be of great help. One of…
- Equity has launched its Fuliza equivalent, known as Boostika. Fuliza has been a successful product by M-Pesa. In 2023, Ksh502.6 billion was transacted through Fuliza. This article highlights everything you need to know about Boostika.
- Do you have an existing loan and need additional funds? Top-up loans might be one of the options on the table. This article will explore everything you need to know about them.
- Improving yourself financially will require you to elevate your thinking. One of the ways to do that is through education. How, then, can you go about investing in your financial education?
- The ruling effectively means that from Friday, January 25, the government has no legal basis to make the housing levy deductions where employees contribute 1.5% of their gross salary and employers required to match a similar amount. However, the current ruling does not mean there will be refunds…
- From the revelation that Kenya is now spending more than half of its revenue on debt servicing, to the imminent fate of stalled government projects, compensation foe El Nino victims, CBKs dollar purchases and Kenyans spending less on highly taxed items, top money news from the last seven days on…
- Turning 30 marks the commencement of your prime financial years, a phase where your decisions can profoundly impact your long-term economic well-being. As you navigate this phase, stay committed to making choices that align with your financial objectives and contribute to your overall well-being.
- Contractors in Kenya operate under a distinct tax regime compared to formally employed individuals on the PAYE (Pay As You Earn) system. As independent entities, contractors are responsible for managing their income tax obligations. As such, navigating the intricacies of tax laws and regulations is…
- They say money can’t buy happiness but talking about it especially when you are about to get hitched can go a long way. Before saying your ‘I dos’, there are a few money-related decisions you will have to make.
- Directline, which provides insurance coverage for 77% of the Public Service Vehicles (PSVs) plying Kenyan roads, indicated that all matatus had to use a digital fare management system from 1st of February 2024 - as a requirement for their claims to be paid. The digital manifest will help in the…
- Convenience pay is a term that could refer to the extra costs associated with the convenience of certain services or products. It often highlights the trade-off between time-saving or ease of use and the financial impact on an individual's budget.
- If you’re considering taking out a loan, you may have noticed lenders offer loans with different borrowing periods. Some will let you borrow and repay a loan over shorter periods, or “terms,” while others will allow you to spread the borrowing out over several years. Your loan term will affect how…
- Life happens. However, you can make it happen or let it happen to you. If you let it happen to you, you will be battered left, right, and center. However, if you take charge and make it happen, you can steer it in your desired direction.
