- Motorists in Kenya are set to pay an additional Ksh7.80 per litre of petrol as EPRA plans to raise margins for oil marketers for the first time since 2018. Diesel and kerosene margins and transport costs will also go up by Ksh7.75 and Ksh7.67 per litre, respectively. Parliament has increased its…
- Nairobi ranked 12th globally in luxury home price growth after prices of prime residential properties rose by 8.3% . The Commission for University Education has blacklisted 15 universities and colleges for operating illegally and warned that certificates from these institutions are invalid. Read…
- 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…
- Kenyans depositing money in SACCOs will face increased scrutiny on the source of their funds under the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill 2025. The Bill empowers SASRA to regulate and supervise SACCOs for anti-money laundering (AML) and counter…
- KRA is shifting its focus to the informal sector by targeting businesses and individuals with a turnover of Ksh200 million and below. The new Department of Micro & Small Taxpayers, will use asset data to curb underdeclarations and boost revenue collection.
- "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…
- An online forex trader has been charged with defrauding clients of Ksh215.3 million by diverting funds for his personal use. The Capital Markets Authority has suspended his license for 90 days to curb risks in online forex trading. The government will settle all NHIF claims of Ksh10 million and…
- KRA has placed an order for 350 body cameras—along with 20 external cameras, a server, 60 data collection devices, and a live-streaming system—for its staff at Times Tower in Nairobi to combat tax cheating and staff bribery.
- Before setting that “100K or nothing” rule, maybe ask yourself—do you want a rich guy, or do you want a financially smart partner? Because trust me, those aren’t always the same thing. Let’s not forget that a partner’s value goes far beyond what they earn. It’s about shared goals, mutual respect,…
- Shadowy private firms earned Ksh1.45 billion from the eCitizen platform in a year, with MPs demanding transparency about their operations and earnings. 54 Collective's shutdown affects numerous start-ups in Kenya and beyond, as funding from Mastercard Foundation ends.
- Rafiki Microfinance Bank and Turaco Microinsurance Kenya have announced a strategic partnership aimed at enhancing access to affordable and innovative insurance solutions for underserved communities across Kenya. The collaboration integrates microinsurance into Rafiki Microfinance Bank’s loan…
- Nairobi County and Kenya Power have resolved their Ksh4.8 billion dispute after high-level talks, agreeing to restore services and handle future conflicts amicably. A forensic audit has exposed a fraudulent scheme at Energy Sacco, where staff and members colluded to embezzle Ksh82.36 million.
- "It’s one of the darkest moments of my life," she whispered, as though the memory itself still haunted her. It all began with one click, a moment of desperation that spiralled into a nightmare she could never have anticipated. The internet is full of traps. Stay sharp. Stay sceptical. And most…
- A prenup is a binding contract. Once you sign it, you can't get out of the contract without the other party consenting or proving it was unjust. You must approach it clearly and ensure your rights and finances are protected. Following a divorce, you and your partner have the right to dispute a…
- 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…
- Starting a side hustle while maintaining a full-time job is a bold move, but it often comes with unique challenges — especially when the business struggles to take off. Let’s break down the options for someone grappling with the decision of whether to take a break from work to focus on their…
- Salaried Kenyans will once again feel the pinch of a reducing take home at the end of February 2025. The third phase of implementing the NSSF Act 2013 takes effect in February, allowing the government to deduct more from their payslips. Remittance to the fund should be made by the 9th day of each…
- Children learn best through observation, and having good money habits indirectly teaches them how to manage their finances. However, this alone is not enough. You need to be intentional about teaching key money skills to equip them with the knowledge they need to become financially savvy adults.
- Mwalimu National SACCO is the largest SACCO in Africa by asset size, primarily serving teachers and education professionals. Mwalimu enjoyed vibrant growth for many years - given the large number of teachers. In 2014, the SACCO bought a majority stake in Spire Bank for Ksh2.4 billion, hoping to…
- Kenya is ranked first globally in peer-to-peer cryptocurrency trading volume and fifth in overall crypto activity in 2023. Only 8.3% (4.3 million) of Kenyans have adopted cryptocurrency. As African nations move toward regulating the crypto space, investors should approach cryptocurrency with a…
- The Ministry of Health announced it would now track mobile money transactions, electricity bill payments, vehicle ownership records, tax returns, among others to better assess SHIF contributions from the unemployed and the self employed class.
- Since you’re planning to save for a big purchase like a home, you’ll want to balance safety and growth in your investments. Investing in assets aligned to your home ownership goal like REITS could make your dream more realistic and achievable. These steps will increase your discipline to follow…
- Everstrong Capital is seeking to raise Ksh129.2 billion from Kenya’s pension funds to finance the Usahihi Expressway, a 440-kilometre dual carriageway connecting Nairobi and Mombasa, as part of a $3.5 billion (about Ksh455 billion) project.
- The 91-day Treasury bill rate has fallen below 9% for the first time in over two years, dropping to 8.96% as the CBK adjusts borrowing costs following a recent rate cut. Investor appetite remains strong, with the latest auction attracting Ksh44.26 billion in offers, though the CBK only accepted…
- Stima Sacco, established in 1974, is one of Kenya's prominent Savings and Credit Cooperative Societies (SACCOs). Initially founded to serve employees of the Kenya Power and Lighting Company. It has since expanded its membership. It has an asset base of over Ksh53.8 billion and it has over 170,000…
- The economic outlook on AI presents a mix of cautious optimism and persistent uncertainty. Jürgen Schmidhuber, often referred to as the "father of modern AI," emphasizes that human curiosity drives innovation. He highlights the importance of continuous learning, as AI can only optimize what already…
- Four former KUSCCO officials have been charged with stealing Ksh82.8 million from the organisation, with authorities still searching for other suspects linked to a larger Ksh13.3 billion fraud. The accused denied charges of theft, money laundering, and conspiracy to defraud.
- This article offers information about CMMF, its features, and how investors can access it. The Cytonn Group has faced legal issues with regard to its subsidiaries - Cytonn High Yield Solutions and Cytonn Real Estate. The MMF is managed through a separate, regulated legal entity. The Cytonn MMF…
- Motorists in Kenya could soon pay more to operate their vehicles as the government moves to reintroduce taxes on car insurance premiums and carbon emissions to raise funds for road construction and maintenance.
- The Cabinet on Tuesday, February 11, approved a Second Supplementary Budget seeking an additional spend of Ksh199.9 billion to the 2024/25 budget. A statement from the Cabinet indicated that Ksh125.1 billion would go to recurrent expenditure while Ksh74.8 billion would go to development projects.
- The Ministry of Health has cited funding shortfalls as the main reason for the delayed implementation of the Social Health Authority (SHA), with only 4 million out of 18 million registered contributors actively financing the Social Health Insurance Fund (SHIF).
- A forensic audit by PwC has uncovered large-scale financial fraud at Kenya Union of Savings & Credit Cooperatives ( KUSCCO), a Sacco board in Kenya, where top executives forged the signature of a deceased auditor to approve falsified financial statements, putting Ksh13.3 billion in sacco…
- 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 CBK is imposing fines of up to Ksh20 million on banks that fail to reduce lending rates, despite multiple cuts to the benchmark rate, and has slashed the cash reserve ratio, freeing up Ksh73.7 billion for lending to stimulate private sector credit growth. The CBK has reduced its official…
- Stories of lost family properties continue to dominate headlines, revealing the urgent need for families to be actively involved in tracking investments. Too often, families are left stranded when the breadwinner passes away without leaving a will or documentation to guide them to their assets.
- 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.
- 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…
- 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…
