- Diversification is a risk management strategy that helps prevent "putting all your eggs in one basket," which can cause significant losses when things go south. In real estate, diversification can be done in terms of asset type, location, or strategy. The idea is that your investments are not all…
- People always ask the question, should I go into business with my friend? While every situation is different, going into business with a friend can be a risk. You may overlook so many things for the sake of friendship. However, if you are able to clearly outline roles based on competency, then…
- For instance, if your car is valued at Ksh1 million, you will have to pay Ksh25,000 a year. These contributions are capped at Ksh5,000 on the minimum and Ksh100,000 on the maximum. This is to say, if your car is valued at Ksh100,000, you will still pay Ksh5,000 while all cars valued at Ksh4 million…
- If you are going for a logbook loan, you want to make sure that you land the best deal ever from your lender. After all, a loan always comes at a price, but the lower the total cost of credit, the easier and faster it will be to pay back the loan.
- It’s 5 PM, and you are making your way home from work. Even if the day has been lengthy, it is not yet over. You still need to pick up your child from school or buy groceries for supper or accomplish a number of things before you can catch the bus or matatu back home. It will be around 7 or 8 PM by…
- Everyone makes mistakes. Regardless of how much shame, grief, or agony they may inflict, every mistake we make helps us learn and grow, eventually making us better people. In fact, you should strive to make some mistakes while you are still young since certain missteps are critical to your future…
- 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?
- Once you decide to start a family, which may take the form of a formal wedding, the popular route of ‘come-we-stay, or the birth of a child, this is a significant juncture in your financial journey that will necessitate changes. If you are not prepared, you may have a tumultuous family life.
- Pay yourself first, save for a rainy day, build an emergency fund, save to invest, etc. the idea of saving money as a means to building financial security is not alien to anyone. The practice of saving consistently and putting the money in the right place can help one avoid predatory debt and…
- Are you tired of living paycheck to paycheck? Do you want to save up for a downpayment on a house, have a healthy savings account, get out of debt or diversify into long-term investments? This guide will teach you how to budget and save much more money in your career than you are right now, no…
- Budgeting can be tedious, especially for beginners. Yet without it, accomplishing any of your goals is impossible. With many budgeting strategies to choose from, it is essential you pick one that aligns with your immediate needs. If you plan to save money and pay off your debt, you should consider…
- The development phase is quite costly and can take time. Many landowners in Kenya end up holding on to valuable but unutilised land that does not earn them any money in their entire lifetime. With the Vuka Investment Club, for example, you can start buying the ASA I-REIT for as low as Ksh5,000 per…
- In creating a successful financial habit, there are many ups and downs. And the downtimes could be more than the ups before one figures their journey out. We all struggle with consistency from time to time - and that's where the financial buddy system comes in - to the rescue.
- After earning your trust, they ask if you can help them by sending the money - either directly to their phone or to one of the herdsmen. They promise to return the money when making the payment for your car. If the target sends the money, the con trick becomes successful, and the number is…
- Six months later, I am slowly rebuilding my life. Back to the bedsitter with another 4 years to clear my first loan. Luckily, my work has been superb and I got a Ksh30,000 raise in January. I am directing all the new income to clear the outstanding loan. As I look back, I feel hopeful about the…
- KRA noted that it expected rental income and the reciprocating rental income tax, to grow in line with market trends. This, however, has not been the case - with some landlords reporting the same rental income tax over the years. The move is expected to see some tenants pay more rent as the…
- To start with, you have to have a piece of land where you will raise the chickens. You cannot do that in an apartment or estate in Nairobi. This presents the first major hurdle for most people. If you are able to access a piece of land, it does not have to be a large portion. A 20 feet by 20 feet…
- The Ministry of Cooperatives has announced the dismissal of the board of directors of Kenya Union of Savings and Credit Co-operatives Ltd (KUSCCO), an umbrella body for Saccos in Kenya. This follows an audit that revealed several discrepancies in the union's management including suspicious…
- The amendments made a number of changes to the Traffic Act that will now allow police officers to use mobile and digital technology in the fining of minor traffic officers. For instance, minor traffic offenders can now be summoned to court through notifications sent through mobile or electronic…
- How can I afford a German car with that salary? Well, it’s not my car to begin with. It’s my wife’s. She earns more than thrice my salary, she is the lucky one - having gotten a job with a leading investment firm just after we graduated. After we got our first kid, she took a loan and bought our…
- President William Ruto on Wednesday, May 8, announced a public holiday for Kenyans to remember victims of the ongoing floods menace. Ruto announced that Friday, May 10, would be gazetted as a public holiday as way of remembering Kenyans ho have lost their lives or faced displacement in the…
- The same applies to driving licenses and logbooks where most Kenyans have no hurry in picking them up - unless they are in need during a transfer or a financial transaction where the documents are needed. The new plates were launched on August 30, 2022, at an event presided over by then-Interior CS…
- From the devastating effects of the ongoing floods to a new report on the state of digital workers in Kenya, to a looming increase in the cost of fuel after a five-month deep, the 6% increase in minimum wage and how workers received it, plus top money news from the last week on Money Weekly by…
- The National Transport and Safety Authority (NTSA) on Wednesday, May 2, suspended licenses for 64 matatu saccos and transport companies around the country. The Saccos breached the licensing requirements provided by NTSA. The authority advised Kenyans to avoid boarding vehicles belonging to the…
- Everyone wants to build wealth, but there is rarely consensus on how to do it. Some investments, however, are more popular than others. Now, the question we ask in this article is in your journey to building wealth - particularly through real estate - would you rather take a loan to buy land or…
- One of the places one can look is Nakuru County. With a robust population and growing economic activity and development, the newly crowned city presents opportunities to take advantage of.
- Becoming a dad was such a turnaround for my life. I was ecstatic when my son Jamba was born. As a new dad wanting to be trendy, I wanted to be called Baba Jayden. I know, I know, please don’t come at me. My wife would not have it though I begged, but she would not barge. Now that I am Baba Jamba, I…
- The question of whether to buy or build has always been a key concern to individuals thinking about settling down. While thinking about these two propositions, there are trade-offs to be made. Usually, the main contention is what are you willing to forego?
- If a bill aimed at regulating professionals in the agricultural sector passes, you will be required to have a related degree/diploma or certificate to operate even an agro-shop. Treasury must raise Ksh1.5 Trillion revenue in just 3 months, effects of high interest loans on private sector, new Nema…
- Over the years, Rwanda has earned a reputation for being open and receptive to foreign investors and entrepreneurs. This has made Rwanda an increasingly attractive destination for Kenyan entrepreneurs seeking business opportunities, particularly in the tech sector.
- Safaricom has partnered with the Kenyan government to train 10,000 youthful Kenyans and impact them with technical skills relating to the installation of fibre optic internet connection. The new project will be undertaken through a programme dubbed “Connect Academy” - a partnership between…
- Nairobi Governor Johnson Sakaja has announced radical reforms concerning the construction of new buildings in the city in a bid to avert disasters that may occur owing to the heavy rains and flooding that have affected most parts of the city. Sakaja announced that the county government is banning…
- “The Mazingira Day share therefore be a day for all Kenyans to participate in environmental conservation activities including tree planting in line with the government's efforts towards accelerating forest restoration and ensuring that 15 billion trees are planted by 2032 to address the effects of…
- Having been clueless about how to navigate money throughout my childhood and youth, I have been determined to ensure that my children and those around me do not walk down the same road making the same mistakes I made then.
- When borrowing, the power dynamics might seem skewed. The lending institution might seem to have the power to exert more power. However, the Kenyan law has ensured that the power dynamics are harmonised. The laws ensure that the lenders (banks, saccos, and microfinance) do not take advantage of the…
- At its core, the NSE functions as a marketplace where investors can trade securities issued by publicly listed companies. This exchange facilitates transactions between buyers and sellers, providing liquidity and transparency to the market. You can participate in the NSE through various channels,…
- The I-REIT earns income by renting out properties. This income is distributed among shareholders in the form of dividends. Thus, you earn passive income from real estate without having to manage properties directly. As the value of the underlying properties appreciates, so does the value of the…
- After a few minutes into this real estate investing 101 class, I was starting to grow impatient. I wanted to hear the grand story of how my colleague owned a highrise building. His secret was the Vuka Investment Club, the platform that allows Kenyans to invest in Kenya’s premier I-REIT - the Acorn…
- Cash flow management doesn’t only apply to people trying to run a business it is just as important in our personal lives. Personal cash flow according to nerdwallet.com is your income minus expenses over some time. It helps indicate in what direction your finances are heading.
- There are varied ways to invest. Some investment instruments cater to risk-averse investors, while others cater to investors with a higher risk appetite. Before you invest, understand what the investment instrument is targeting.
- From the details of the Affordable Housing Regulations 2024 that include potential fort exclusions, the revelations of the staggering amounts of allowances earned by civil servants in Kenya, a record fall in the prices of fuel in Kenya, the state of compliance by LPG gas companies in Kenya, a…
- Tanzania is known for its diverse economy, rich culture, and abundant natural resources, offering a promising landscape for business ventures. With a population of over 60 million people and a strategic location in East Africa, Tanzania presents numerous opportunities for entrepreneurs seeking to…
- Most people or businesses find themselves in this situation, unable to recover what's rightfully theirs because going to court can be expensive and time-consuming. Lawyers can be a hassle, and the whole process seems daunting. That's where Small Claims Courts come in.
- Kenyans wishing to let go of the affordable housing units courtesy of the government may not find it easy following newly introduced regulations meant to provide some clarity on Section 54 of the Affordable Housing Act 2023.The regulations contained in the Draft Affordable Housing Regulations 2024…
- Before venturing into the complexities and risks inherent in the stock market, it's crucial to equip oneself with knowledge and understanding. This entails conducting thorough research to grasp the fundamentals of investing, which starts by identifying the key factors to consider when buying shares…
- Lowering your tax liability is essential for various reasons, all aimed at improving financial health. You will increase your disposable income, allocate more funds towards savings and investments, and, importantly, expedite your journey towards financial freedom.
- The launch marks a major step towards improving the ease of doing business in the country, addressing the need for efficient and streamlined services that facilitate business establishment and growth.KBSC will also enable businesses to access loans through the provision of information and…
