- Here are the essential types of accounts in Kenyan Savings and Credit Cooperatives (SACCOS) that impact your savings and loan access. Learn about the Shareholder Account, Savings Account, and Current Account, their features, advantages, and how to make the most of your Sacco membership
- Considering moving in with your partner? Discover essential financial tips to ensure a smooth transition, from budgeting and income disparity to financial compatibility and trust. Learn how to communicate effectively about money, align financial priorities, and establish a strong financial…
- The Central Bank of Kenya (CBK) has launched two new infrastructure bonds aiming to raise Ksh50 billion for 2024/2025 projects. Sales run from July 25 to August 14, with an auction on August 14. Minimum investment is Ksh50,000, and trading starts on the Nairobi Securities Exchange (NSE) from August…
- Here is my journey from quitting a well-paying job in a remote village to seeking success in Nairobi. Challenges and lessons learned about the realities of city life versus village life, and why sometimes, the grass isn't always greener on the other side. A money confession about finding…
- Discover the driving habits that are increasing your car's fuel consumption and costing you more at the pump. Learn how aggressive driving, speeding, idling, poor vehicle maintenance, and more can impact your fuel efficiency. Get practical tips to save fuel and reduce costs with better driving and…
- President William Ruto's newly nominated Cabinet as of July 2024. The second round of nominations includes a mix of returning members and opposition politicians. Read the full list of nominees, the roles they've been assigned, and the changes in ministry. This follows Cabinet reshuffle and the…
- Learn how successful entrepreneurs separate personal and business finances to avoid financial setbacks. Discover practical tips and strategies, including paying yourself a salary, using separate bank accounts, maintaining an emergency fund, diversifying income streams, and more to ensure financial…
- The government, through Prime Cabinet Secretary Musalia Mudavadi has responded to reports of an alleged sale of the Jomo Kenyatta International Airport (JKIA). Demonstrators, under the hashtag #OccupyJKIA, have sought to pressure President William Ruto to address their demands by storming the…
- Explore the causes, symptoms, and effects of burnout—a psychological disorder rooted in chronic work stress. Learn how to identify who is most at risk and discover strategies to combat burnout, maintain work-life balance, and improve your well-being. Understand when it's time to consider leaving a…
- State House has requested Parliament to re-assign it Ksh597 million for compensating staff from the now-scrapped Office of the First Lady. In total, State House asked Parliament to re-allocate an extra Ksh1.7 billion after the budget cuts that were initially announced by President William Ruto…
- The Teachers Service Commission (TSC) has announced the cancellation of the 9.5% salary increase for teachers scheduled for July 2024, due to a KSh10 billion budget cut following the fall of the Finance Bill 2024. TSC CEO Nancy Macharia stated that these cuts make it impossible to implement the…
- KenGen to Build 42.5MW Solar Power Plant Near Seven Forks Dams. The project, in partnership with the French Development Agency, will enhance renewable energy in Kenya, providing affordable and reliable electricity, and addressing climate change. Completion is expected in two years and four months.
- Dismissed Cabinet Secretaries will receive Ksh2.45 million each following President William Ruto's cabinet dissolution. According to SRC regulations, the gratuity is 31% of their basic salary per year, subject to a 30% tax. Collectively, they will take home Ksh54 million.
- Congratulations on completing your secondary education and getting to this next level. You may not have gotten the coveted grades to get you into a degree course in your dream university but that's not the end of the road at all for you. There are numerous competitive courses you can still pursue…
- Did you get laid off, or did your contract end, and you are starting 2024 unemployed? If you are wondering what you can do to replace your lost income, working from home could be a good option.
- The service industry in Kenya has been growing - particularly fuelled by the growing middle class who have some disposable income. One of the services that have become increasingly popular is laundry - seen particularly in the rise of laundromats and the popularity of mama fuas in middle-class…
- Kenyans may have to spend more money on sugar and its by-products after the the Agriculture and Food Authority (AFA) announced changes that will see a double increase in the cost of importation for traders.
- Maternal healthcare will be more expensive under the new Social Health Insurance Fund (SHIF) as families will have to pay Ksh5,000 more on standard deliveries and Ksh16,700 more on Caesarean Sections (c-section).
- Motorists have been overcharged an estimated Ksh16.4 billion or Ksh2.70 per litre of fuel since Kenya opted for government-to-government oil supply contracts with three Gulf-based companies.
- Tempus Fugit! 2023 is here with us and like every new year, there is an air of hope about the prospects of the new year. If you are a business owner, you probably have a strategy for how you plan to grow your business beyond its 2022 fortunes.
- 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…
- Entrepreneurship is a major element of the Kenyan spirit. Indeed, a drive across the republic reveals a capitalist economy filled with hawkers, jua kali artisans, fish mongers, thriving open-air markets, matatu operators, plot-for-sale signs, factories, commercial tracts of lands, and many pointers…
- KPLC will be required to pay consumers for any losses caused by unscheduled blackouts, if proposed regulations by Energy and Petroleum Regulatory Authority (EPRA) are passed into law. The payment for damage to property will be in the form of tokens equivalent to the financial damage caused by the…
- One of the reasons why Saccos are able to give consistent returns is that they are member-owned. The moment you start investing in a Sacco, you become a shareholder; hence, every Sacco member is entitled to the profits a Sacco makes, hence, these profits are distributed in terms of dividends and…
- "I am an impulse spender, which is why I'm constantly looking up ways to boost my savings, increase my disposable income, earn more, you name it. So when I came across the 50/30/20 budgeting rule, it seemed like as great idea. . ."
- There’s a perennial joke that most ex-military veterans pass away a few years after retirement. Well, it happens. From what I have seen, if military retirees live long enough, it’s a noticeably lacklustre life in contrast with their former flashy lifestyle.
- Kenya Forest Service (KFS) has significantly raised timber movement permit fees. This increase is expected to impact timber product prices. Additionally, 18+ students applying for government scholarships must have a National ID. Posta is leasing office space across 13 branches.
- The Economic Survey 2024 report shows how much Kenyans save in various financial institutions, including commercial banks, micro-finance banks (MFBs), and deposit-taking savings and credit cooperatives (DT-Saccos). Time and savings deposits in DT-Saccos grew by 9.8% to Ksh573.6 billion in 2023.
- In 2018, after years of praying, deferred semesters, and a few exchanges of brown envelopes, a cousin of mine finally landed a job in our distinguished defence forces.His dad was in the army, 2 of his big brothers are in the army, and his small brother just got accepted into the police academy. It…
- Good financial health is when one is able to spend less and save more money regardless of your personal or family circumstances. How would you go about saving your money, then?
- Wakili gets up at 4am, everyday - like clockwork. The rest of his household doesn't stir till an hour later. He likes the early morning silence, chill, and semi-darkness. He heads straight to the kitchen. He checks the earthen fireplace ashes for live embers, and builds a fire. He starts warming…
- I had mixed feelings as I walked toward the gate to my former high school. I've not been here since I did my KCSE paper, almost twenty years back. I was hovering between happy, anxious, and terrified - a little, like a jailbird leaving prison. See, high school then was a different kettle of fish,…
- A car is arguably the second-biggest expenditure after housing but before basics like food, education, and saving for retirement. This means that it's crucial to know and understand if this is the right time to make the purchase or not.
- In-laws, in-laws, in-laws. Gather around. We need to talk. I feel that our association has transcended what made us in-laws in the first place. Did I miss some essential fine print on the Till-Death-Do-Us-Apart Vow?
- My grandmother and a couple of her peers have spent the day at the local police station. The octogenarians are angrily threatening the local police boss with a generational curse.
- The National Assembly’s Budget and Appropriations Committee on Thursday, July 25, rejected the government’s plan to shut down the offices of the First Lady Rachel Ruto and Second Lady Dorcas Rigathi. The Treasury cut the Ksh1.25 billion budget assigned to these offices in the 2024/25 budget.
- Discover essential insights on driving with third-party insurance in Kenya. Understand the coverage, benefits, and costs of this minimum legal requirement, ensuring you're prepared for any liabilities to third parties. Learn more about the different types and exclusions of third-party insurance to…
- The Kazi Mtaani Programme is a project that aims to safeguard the most vulnerable young people in informal settlements from the COVID-19 pandemic's effects. The purpose of the initiative is to provide some form of social protection for workers whose chances of finding regular or casual work have…
- 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 Kenyan government has increased the Road Maintenance Levy (RDL) from Ksh18 to Ksh25 despite assurances from the Ministry of Roads that the feedback calling for the hike delay would be considered. New EPRA fuel prices for July 15 to August 14 show decreases in petrol, diesel, and kerosene prices.
- Discover the truth about making money online with our detailed guide debunking common myths. Learn the realities behind quick riches, online scams, passive income, and more to set realistic expectations. Whether you're a freelancer, e-commerce entrepreneur, or digital marketer, learn to navigate…
- Latest developments in Kenya as the International Monetary Fund (IMF) evaluates the country's readiness for increased financing. Withdrawal of Finance Bill 2024 is shaping IMF's assessments. In other news, KRA has announced the successful collection of Ksh43.9 billion through its recent tax amnesty…
- President William Ruto on Thursday, July 11, fired 20 Cabinet Secretaries after announcing the dissolution of his Cabinet. The President noted that the decision to reorganise his government was informed by the recent public protests that saw him drop the Finance Bill of 2024 in its entirelty. Here…
- The Kenyan Ministry of Lands has ordered all foreign nationals to surrender their freehold titles immediately. Lands CS Alice Wahome announced that these titles were issued through error or corruption, as the constitution only allows Kenyans to hold freehold deeds. Foreigners can only own land on a…
- There is a standoff between Kenya and Uganda over the imposition of a Ksh5.78 billion fee on fuel imported directly by Uganda via the port of Mombasa. Uganda's Uganda protests as Kenya frustrates their efforts to lower fuel costs with increased bond fees at Mombasa port, sparking tensions between…
- Despite recording growth, the Kenya Revenue Authority (KRA) fell short of its revenue collection target for the year ended June 2024. KRA managed to collect Ksh2.407 trillion, representing an 11.1% increase from the Ksh2.16 trillion collected in the previous financial year. However, this figure is…
- How Kenyan Businesses Struggled in June: Explore the impact of economic challenges, anti-tax protests, and policy uncertainty on business operations.The latest Stanbic Kenya Purchasing Managers Index (PMI) reveals a significant decline in new business intakes, signaling a sharp downturn in the…
- Unlike education policies, where funds are locked in until the policy matures or specific conditions are met, MMFs are highly liquid and allow quick access to funds. MMFs also don't require long-term commitment with regular premium payments. For these reasons, they can benefit parents looking to…
- Discover how Income Real Estate Investment Trusts (I-REITs) are revolutionizing real estate investments in Kenya, offering Kenyans an accessible way to earn rental income from prime properties in Nairobi. Learn about I-REIT structures, investment methods, risk factors, and how to align your…
- Uganda began directly importing oil from Vitol Bahrain after a disagreement with Kenya, reshaping East Africa's fuel trade. This follows a five-year G-to-G deal by Uganda National Oil Company. Uganda continues to use Kenya's infrastructure as the first shipment docked at Mombasa on July 3 arriving…
