- Fake hustlepreneurs are people who pose as financial or investment experts. They promise a lucrative outcome in return for paid tutoring, coaching or a book. Fake hustlepreneurs are especially dangerous because they primarily target people who have the desperation or vulnerability of clients who…
- Are you feeling the financial pressure of Valentine's Day? The pressure to buy the perfect gift, plan the most romantic dinner and make the day unforgettable can quickly add up and leave you feeling distressed.
- With Ksh50,000 a month, you have to balance your essential expenses, savings, and investments. To get started with investing, it’s important not to stretch yourself too thin. Your savings goal is important, but so is laying the groundwork for your future financial growth. Start small: Since you’re…
- The Etica Shilling Money Market Fund by Etica Capital Limited is a collective investment scheme designed to offer short-term investment opportunities while protecting capital and providing liquidity. Regulated under the Capital Markets Authority, the fund aims to attract retail and institutional…
- The troubles facing beneficiaries of USAID programs continue to compound. This is after President Donald Trump's close ally and advisor Elon Musk indicated that the current administration would completely shut it down. USAID’s future is in jeopardy after Musk criticized the agency, terming it “evil…
- A major data breach at Kenya’s Business Registration Service (BRS) has exposed sensitive information of significant shareholders, including national ID numbers, phone contacts, and residential addresses.
- The Kenyatta National Hospital (KNH) lost Ksh47 million to cybercrime in the financial year ending June 2024, leading to the suspension of 11 employees and an internal investigation. The hospital has so far recovered Ksh16 million and reported the case to investigating agencies, with the suspects…
- What if you could harness the power of artificial intelligence (AI) to generate more income? AI has transformed how individuals and businesses create wealth. Whether you’re a problem solver, a writer, a designer, or a web developer, AI tools can boost your productivity and advance your skill sets…
- Saccos have become popular among Kenyans seeking high, yet steady, returns from savings and capital investments. From Mid-January, Saccos across the country started releasing their financial reports for the year ended December 31st 2024. The reports also reveal the dividend yields remitted to…
- The Money254 team has conceptualised a fun, simple, and rewarding challenge to help our readers become better savers. This challenge is designed to help you grow your saving habits. Join the Money254 Savings Challenge today, join our whatsapp community, and watch your financial discipline and…
- Commercial banks have started lowering lending rates for the first time since the Central Bank of Kenya (CBK) began slashing the benchmark rate in August 2024. CBK data shows the average lending rate dropped to 16.89 percent in December from 17.22 percent in November.
- According to the recently published 2023/2024 Real Estate Survey by the KNBS, rental income, while widely pursued as a passive income avenue, offers some of the lowest returns for investors in the real estate sector. One of the biggest motivations for investing in real estate is to get capital…
- The government is facing criticism for spending taxpayer money on chartered helicopters, despite claims of fiscal discipline and austerity measures. While Kenyans continue to suffer from rising living costs and a growing public debt, the government’s decision to purchase high-end helicopters paints…
- Moving to a new job could be a gateway to new opportunities. However, with the current job offering extra benefits that would otherwise have a financial implication on your salary, it's good to be very strategic. Thus,the 20k might look great on paper but the benefits foregone from the first job…
- Starting a side hustle doesn’t have to drain your finances or consume all your time. The secret lies in assessing your passions and leveraging the available resources. Choose an opportunity that best aligns with your skills and interests. Did you know that the average millionaire has seven income…
- The National Transport Safety Authority (NTSA) has released draft regulations for commercial vehicles, requiring them to meet stricter safety standards. Under the 2025 proposals awaiting approval by the National Assembly, all commercial vehicles must have third-party insurance, valid certificates,…
- One of my friends was the one who imparted that lesson on me by making that particular mistake for me. Pressure from the bride to be, which was created by the in-laws (as we later came to learn) led him to make the cardinal sin, he took out a loan to cater for his wedding.
- Kenya has witnessed a surge in unit trust investments, with the number of investors rising 7% to 1,299,300 by September 2024, overtaking stock market accounts, which decreased to 1,286,500. Data from the Capital Markets Authority (CMA) highlights the appeal of unit trusts is due to double-digit…
- In this article, Money254.co.ke explores the gender employment trends across all counties, revealing how economic activity and gender participation vary across counties. These insights are vital in understanding the diverse socio-economic landscapes and identifying opportunities for inclusive…
- Nairobi leads with a GCP per capita of Ksh802,344 annually (Ksh66,862 monthly), reflecting its position as the capital and the nation’s economic hub. The report by KNBS, however, reveals economic disparity with the average Kenyan in Mandera earning Ksh6,064 per month - less than ten times what…
- The United States' decision to withdraw from the World Health Organization (WHO) marks a significant setback for global health security, especially in Africa, where WHO's technical assistance, disease surveillance, and health system strengthening efforts are crucial.
- Piloted in December 2024, the Ziidi MMF has already achieved remarkable success, pooling over Ksh2.85 billion in assets under management from more than 450,000 customers. This success is attributed to strategic partnerships with Standard Investment Bank (SIB), and ALA Capital Limited, who will…
- Land in Ruaka is more expensive than Nairobi surburbs such as Karen, Kitisuru, Runda, and Langata. Land prices in Ruaka now cost Ksh111.2 million per acre compared to Karen, Kitisuru and Runda which go for Ksh69 million, Ksh98.2 million and Ksh93.3 million respectively.
- City counties had the highest contribution to the national GDP. Nairobi, Kenya's capital, led with a whopping Ksh3.81 trillion GCP. This means Nairobi county accounts for 36% of Kenya’s GDP. Nakuru, another city county comes a distant second at Ksh785.8 billion, followed by Mombasa which is third…
- Kenyan Treasury plans to take over the issuance of Treasury bills and bonds from the Central Bank of Kenya (CBK) through the Public Debt Management Office (PDMO) to lower borrowing costs and enhance debt management.
- The private sector lending by commercial banks in Kenya dropped by 1.1% in the year to November 2024, marking the first annual contraction since 2002, as high interest rates and a strengthening shilling curtailed credit growth.
- Navigating cross-border trade within the East African Community (EAC) requires a keen understanding of customs procedures, and one crucial aspect often overlooked is the timely cancellation of customs bonds. Failure to proactively manage this process can lead to unnecessary penalties and…
- Exchange-Traded Funds (ETFs) have become increasingly popular for investors globally. EFTs is a defined listed investment product that tracks the performance of a particular index or a basket of various assets. These underlying assets are traded on stock exchanges like ordinary shares. Its price…
- Before a car is imported, it must go through a thorough inspection process. This inspection determines whether the car will be exported. If declared okay for export, it is given a grade, which is indicated on the auction papers. The grade is given according to how well-kept the car is or how…
- Kenya's homeownership rate has dropped from 64% in 2013 to 61% in 2024, as urban migration drives more households to rent. Urban homeownership fell from 30% to 23%, while rural ownership saw a slight decrease from 88% to 86%.
- Members of the National Assembly are urging the new Salaries and Remuneration Commission (SRC) to implement pay rises that were halted in June 2024 following youth-led protests. The protests led to the freezing of salary increments for state officers, including MPs, and the rejection of the Finance…
- A new land rates law in Kenya has sparked confusion over its application to freehold and leasehold properties. Under the law, property owners with leasehold titles will continue paying land rates, while those with freehold properties may be exempt, depending on specific land use and location…
- Trade and Investments CS Nominee Lee Kinyanjui has vowed to put an end to exportation of scrap metal as part of his industrialisation agenda for Kenya. Kinyanjui revealed that he has accumulated wealth valued at Ksh471 million, mostly in real estate and shares in family businesses. He previously…
- The Kenyan government terminated a deal with a consortium of French contractors for the Ksh150 billion Nairobi-Nakuru-Mau Summit Toll Road project, and it has now been revealed that it was due to affordability and fiscal concerns.
- William Kabogo, 63, has been nominated to serve as the Cabinet Secretary for ICT. During his vetrting, the former Governor was put to ask over past allegations linking to the narcotics trade, as well as an instance where he was linked to the death of a University of Nairobi student Mercy Keino.
- In Kenya, a small health emergency often ends with fundraising efforts. But even after the immediate hospital bill is cleared, other expenses like drugs, transport, and special diets continue to pile up. With a product like the M-KOPA X20, you’re not only investing in a reliable smartphone but also…
- Ministry of Agriculture and Livestock Cabinet Secretary nominee Mutahi Kagwe announced his net worth before the National Assembly’s Committee on Appointments. The former Health CS is set to succeed Andrew Karanja, whose tenure at the helm of the country’s food security lasted 4 months following his…
- Life insurance is a contract between an insurer and the policyholder, where the insurance company commits to paying a certain amount of money in case of an eventuality. The main goal of life insurance is to offer your loved ones the financial protection they need in case of an untimely death or…
- The offices of President William Ruto and Deputy President Kithure Kindiki are requesting Ksh1.6 billion for refurbishments, including upgrades to State Houses, lodges, and official residences. This follows the reinstatement of non-essential expenditures in the wake of the collapsed Finance Bill…
- Treasury bill (T-bill) interest rates dropped in the latest auction despite strong investor demand, as the Central Bank of Kenya (CBK) rejected costly bids. Investors offered Ksh33.14 billion against a target of Ksh24 billion, but CBK accepted only Ksh24.44 billion.
- Kenyans face a fresh economic burden as new taxes under the Finance Act, 2024, take effect. The Act increases excise duties on essential goods such as sugar, which now attracts Ksh7.50 per kilo, up from Ksh5.
- A few days after I was laid off, I contacted my insurance provider to initiate my claim. The process was surprisingly smooth, especially considering the anxiety I was feeling. Within a few weeks, I started receiving 75% of my salary, about Ksh. 60,000 a month, just as my policy had promised.
- Household insurance is an insurance policy that offers financial protection for your house and its contents against unexpected life events. The policy covers your building, including rental property, household contents, and domestic servants in accordance with the Work Injury Benefits Act (WIBA).
- Insurance policyholders in Kenya withdrew Ksh13 billion in 2023, a 2.5x increase from Ksh5.15 billion in 2022, according to the Insurance Regulatory Authority (IRA). The withdrawals, driven by economic hardships, marked the highest cash-out in two years.
- Kenya's economy expanded by 4% in Q3 2024, slowing from 6% in the same period in 2023, according to KNBS. The decline was driven by contractions in key sectors, including construction (-2.0%) and mining (-11.1%), amid reduced cement consumption and a 13.6% drop in credit to construction enterprises.
- As at the end of 2024, unclaimed M-Pesa deposits had risen to Ksh3.2 billion. When a loved one passes away, their M-Pesa account and balances — often a vital part of their financial life—becomes an important matter to address. The question many are left asking is: what happens to their M-Pesa…
- "The year has been nothing short of a roller coaster for me and this regards all aspects of my life. I have made bold decisions, some in the heated spur of the moment and some after careful calculations and the results are all a balance of good bad, regrets and lessons learnt. To be a man and to be…
- Something interesting happened to me almost exactly two years ago today. The recent Madaraka Day celebrations took me back to a point in my life when I lost everything. The pandemic was now serious enough for the government to call for curfews, closures and all. This inevitably led to job losses,…
- After my first semester at Kenyatta University, reality hit hard. Living solo in a Ksh7,000 bedsitter in Kahawa Wendani wasn’t very sustainable. The only logical solution? A roommate. I had always heard that sharing a space, even with your sibling, was a near-impossible feat.
- Whenever we’re winding down for the festivities, kina Martoe will always ask, “Sasa unashuka ocha lini?” throwing in the occasional “utuletee miraa” just because I hail from Meru.Well, life hasn’t always been like this. Both in my single life and as a newlywed, I was the kind who went all out for…
