- The National Transport and Safety Authority (NTSA) and the National Police Service (NPS) has commenced a crackdown on vehicles with unauthorised modifications, particularly involving the use of strobe lights.
- Banks release their financial reports for the year ending December 2023 with a majority reporting a growth in profits, President William Ruto orders parastatals to surrender 80% of profits to Treasury as loss-making ones put on notice, KRA set to miss revenue targets, NSE sets record performance…
- As the electric mobility revolution sweeps across Africa, the motorcycle industry in Kenya stands poised to lead this transition since it is the most represented in the transport sector. We are now at the point where if you've been contemplating purchasing or upgrading your two-wheeler for personal…
- Mombasa is a major economic and cultural city in Kenya, the second biggest after the capital Nairobi. With a population shy of 1.5 million people, Mombasa has endless opportunities for an entrepreneur willing to exploit them.
- I have always been fond of children. Primarily because they are a clean slate for this thing called life. In them, I see a sea of possibilities and dreams that can be forged—a future! More often than not, whenever I come across a kid, one of the questions I ask them after their name, of course, and…
- “Civil servants living in government houses pay an average of Ksh2,200. This includes those who pay lows of Ksh1,000 in areas such as Mbotela and those who pay as high as Ksh30,000 for 3-bedroom units in the upmarket areas. There is a need to increase rent. I have written to the Treasury to allow…
- It is that time of the year when Saccos are announcing their dividends and their members reaping from their savings. Here are some of the Saccos with the highest dividends in Kenya so far.
- Saving your money is important. But as much as you are saving, you cannot just let your money be saved without at least earning an interest. Discussed are the savings accounts where your savings can earn you at least 10%. This will protect your money against inflation.
- The President noted that the directive was part of his strategy to revamp the economy, by maximizing revenues and taming losses that have historically been associated with government-owned enterprises. He further directed the parastatal heads to cut their recurrent expenditure budgets by 30% as a…
- Kenya ranks as the 29th most unhappiest nation in the world, a drop for the first time in 5 years - how does it compare with neighbours Uganda and Tanzania? KRA is set to miss its revenue target by over Ksh300 million, Nigeria & South Africa outdo Kenya in venture capital investment as the…
- Are you the kind of person that has always been drawn to science? Do you have the desire to pursue science after high school but need help figuring out where to start? With a million and one courses out here, one might need help figuring out where to start or how to narrow down the list.
- Understanding the frequency of interest accrual and compounding is crucial when choosing a savings account. Daily accrual and frequent compounding, such as quarterly, monthly, or even daily compounding, can result in higher total interest earned and faster savings growth. Therefore, when opening…
- The Umba's Fixed Deposit Account offers an attractive annual interest rate of up to 16% for savings locked in for at least a year. In contrast, Saccos typically pay different rates, ranging from 12% to 15% per annum, depending on the specific Sacco.Umba's fixed deposit has the advantage of no…
- If you are full-time employed and want to improve your financial security, getting a second income stream is a no-brainer. But it can tricky when a side hustle starts taking from your monthly paycheque to support transactions. That is why you need to have access to an affordable credit facility…
- It is now possible to run a full side hustle without having to be physically present. It is also quite possible to run some side hustles without leaving your desk or affecting concentration at your main job. All you need is a smartphone and if you do not have one, there is an easy way to acquire…
- If you occasionally require a quick cash injection between paychecks, a fairly substantial amount to fulfil orders for your small business quickly, or wondering where you can get some money for emergencies, LendPlus is a digital loan app you may want to consider from the many options available…
- One standout feature of the LendPlus digital loan app is the ability to extend your repayment several times by up to the number of days your loan was due. No other digital lender so far reviewed by Money254 seems to offer this useful option of extending one’s repayment period
- I turned 30 on November 20, 2021. It was on a Saturday. And a sobering one for that matter, since after a Friday night out with friends to usher me into the ‘third floor’, my bank balances were not looking too great.As I sipped my home-made hangover cure - lemon, ginger and honey concoction - I…
- Have you ever thought of how significant the one million number is? Well, if you had one million shillings in one-shilling coins, it would take you eleven and a half days of continuous counting. And that is at a rate of counting one-shilling coin per second non-stop. How can you save such an amount…
- A digital savings account is a type of savings account that can be opened, managed and operated from anywhere at any time using mobile devices such as phones and digital devices such as the computer. It has all the features of a traditional savings account and on top of it saves one time, money and…
- Every day of 2022, over 400 digital loans were approved and disbursed to Kenyans across the country via the LendPlus Digital Loan App - a digital loan app that is barely two years old in the Kenyan market. That is just about one loan being approved every 3.5 minutes.
- For many traditional loan types, “late fees”, are a nightmare that borrowers have to contend with and endure, unfortunately, if one is facing some financial difficulties during the loan tenure and can’t extricate themselves in time before payment is due.
- Late last year Zenka forgave Ksh166m of penalty fees. We sat down to ask them all about it. With digital lenders over the last few years having racked up a bad rap with accusations of lacking customer-centric policies, Zenka’s latest gesture brings into focus the efforts by players in the digital…
- We are living in rather hard economic times. The cost of living is going up, employment is a challenge after the Covid shockwaves, and most businesses are also struggling to make ends meet. Referral programmes can be a life-saver especially because they provide the opportunity to earn a decent…
- As the CBK assumes an oversight and supervisory role over the operations of digital lenders in Kenya, we take a look at the seven major regulatory changes including in the pricing of loans, borrower rights and for the first time strict rules for loan recovery. All from the perspective of a digital…
- It’s mid-February, Valentine’s Day deals are over, you probably did a little spending on your loved one(s), payday is still far away but you are in fairly urgent need of some cash to last you till then. Should you take a digital loan? If so, how does a LendPlus Digital App loan stack up?
- Unlike other compilations you might find on the internet, we have taken time to list only referral programmes that actually accept Kenyan participants and have products you can actually refer to Kenyan friends, family or followers. Many are also paying directly to your mobile money wallet.
- When it comes to loans, the biggest factor to consider before borrowing is your ability to repay. The ability to extend your loan repayment period has several advantage especially since sometimes things may not always go as planned. We detail the onl digital loan apps so far that allow repayment…
- Timiza is a mobile banking solution launched by Absa Bank Kenya in 2018 (then Barclays Bank Kenya). It is an all-in-one app that not only serves as a mobile loan app, but also enables users to save money and earn interest, pay utilities and buy insurance.
- Housing happens to be one of the biggest decisions everybody will have to make in their lifetime. And it is not an easy one. As you get older and your family grows, it becomes inevitable that you will have to make the choice. So, should you continue renting, or should you buy or build that dream…
- My regular shopping needs have also transformed. Before the card, I would always feel remorseful when I saw a great sale for something I needed, say a TV I had been saving for. The discounted option always appeared when I was broke. But not anymore! I can always borrow the "free" money and refund…
- Earning an extra income has numerous advantages in making your life easier. It is even more advantageous if you are making this money passively - that is with minimal time commitment. This article will explain to you in detail the Zenka Referral Programme that enables you to make money by sharing a…
- The Absa Digital Savings Account is one of the pioneer digital savings accounts available in Kenya. This unique accounts gives you a bonus for staying on track with your savings and the best part, you never ever have to visit a branch to transact. Should you open one? This article breaks down the 7…
- Is that digital loan app you are downloading legit? The relief of getting a loan within minutes should not blind you from the potential helplessness of extortion for months by copycat apps. In this article we take you through the warning signs you are downloading a copycat digital loan app and how…
- When you are in urgent need of cash and traditional lending options are either unavailable at the moment or you already are servicing debt with your banking partner, considering a digital loan to sort out the problem at hand can be considered a prudent financial decision. But there are mistakes…
- Owning a house is a significant life milestone for most people, but the high costs can make it seem like an unattainable goal. And given the current increase in rent rates - a fourfold rise in the last 10 years, according to data by realtor HassConsult - it might even be harder to save consistently…
- Today, where can you get an unsecured loan of up to Ksh10 million for your business? In this article, we take a deep dive into Avenews, a new agribusiness financing option that is providing loans of up to Ksh10 million. Is this unique loan what your agribusiness needs?
- To many, owning a home is the ultimate embodiment of financial security; your family has a place to call home, not just a house, you no longer have to deal with landlords and importantly, you get to build wealth over time by leveraging your home equity. But buying a home is expensive. Mortgages may…
- "In January 2022, I was promoted after a two-year wait (Covid-related) and my gross salary was bumped to Ksh80,000. It translated to a take home income of Ksh61,000 with some loose change. Coming from a take-home of a few hundred shy of Ksh45,000, this salary bump was a big deal for me. And I did…
- When it comes to digital loans, there are many options available in the market. Choosing a digital loan that aligns with your needs and financial situation is important. This will help you avoid defaulting on your loan, as you can easily manage your loan repayments.
- There are practical and effective strategies you can use to stay afloat, depending on your financial situation. The strategies can range from using your savings and finding creative ways to make extra cash to taking out an affordable short-term loan.
- Remember when you opened your first bank account? Many people confess they didn't give much thought as to which bank or type of account to open, but later when they begin their professional career they realised a current current isn't only for receiving your salary. Depending on which account you…
- Credit cards offer you access to what we consider free money, upto 50 days of an interest-free period. They also come with other benefits such as special discounts that the provider negotiates with local and international retailers; cashback rewards; access to Airport VIP lounges; flexible…
- Credit cards can come through for you this Easter holiday by providing financial flexibility and access to interest-free credit. Imagine shopping and travelling without worrying about cash shortages or enjoying discounts and perks when dining out with family and friends. With a credit card, you can…
- Insurance is an important tool for protecting your family financially, but it should not be the only one. It's essential to have a diversified financial plan that includes other investments such as liquid assets that can be easily converted into cash and investments that can produce passive income…
- How much of your salary do you save? How do you keep yourself in check? These are important questions in the journey to financial freedom. Saving often feels like an easy thing but for some people, it is painfully elusive. However, the Absa digital savings accounts is specifically designed your…
- A home insurance cover is a basic investment for any homeowner keen on protecting their wealth and preventing things that are out of their control from derailing their financial growth journey. Not only does it protect the physical structure, but it also ensures valuables in the house are protected…
- One of the biggest reasons why logbook loans are popular in Kenya is because of the incredibly fast speeds in which funds can be accessed. Many logbook loan providers in Kenya, given the right circumstances, say they can disburse a loan in less than 24 hours from the time of first interacting with…
- If you are already in business, there may be many instances where you may have missed out on a profit-making opportunity because you didn't have the cash needed to facilitate the transaction. Avenews allows you to borrow the working capital and instead of paying fixed interest, you split a share of…
- Everyone finds themselves cash-strapped once in a while. It can happen for multiple reasons, including an unexpected expense that disrupts your budget to a delayed salary that leaves you broke. In such situations, you will likely need some credit. This article compares credit cards and digital…
