- While many Kenyans, especially those who own SMEs, have embraced logbook loans as one of their go-to credit options, logbook loans are generally misunderstood, if not feared. Indeed, there is a real risk of losing ownership of your vehicle since it is used as collateral and you have to enter into a…
- This is a detailed guide on how to go about filing your tax returns on the Kenya Revenue Authority (KRA) iTax portal, as well as an exhaustive response to all the frequently asked questions regarding filing taxes in Kenya.
- The newly launched Umba Microfinance Bank Logbook Loan is offered starting from a competitive monthly interest rate of 2.49%. This is when compared to comparable logbook loan products offered by microfinance institutions. If you are employed with a payslip or have a registered business, this loan…
- When it comes to relationships, nothing comes close to money in terms of its ability to raise the tension to 'end-of-the-world' levels. Psychological, behavioral and neuroscience research indicates that how stable and secure you feel in your relationship often mirrors how secure you feel about your…
- The Public Service Commission has advertised 63 job openings in the State Department of Gender and Affirmative Action as well as the Ministry of Defence.
- The Public Service Commission (PSC) on Tuesday, March 28 announced 1,300 job vacancies for teachers who will work in various Technical and Vocational Training Institutes (TVETs) around the country.
- The Nairobi County government has announced paid internship slots in a number of industries, offering young graduates looking for full-time employment an opportunity. City Hall posted several job postings, on the county's official website, for positions ranging from quantity surveyors to civil…
- In January 2023, Safaricom enabled Fuliza users to withdraw money directly from an M-Pesa agent. Regular withdrawal fees will still apply and will be deducted from your available overdraft limit.
- The latest EFG Hermes report shows that Kenyans save the least across East Africa, with a paltry 12% saving rate. This falls well below the continent's average of 17%, with Tanzania already past the 20% mark.
- Banks have been going bust. Anxiety has been rising about which bank could be next. What happens if your bank, where you have been making regular deposits, channeling your salary through or even have a savings account with - and then the bank goes into receivership and is eventually liquidated. How…
- Latest Central Bank of Kenya data shows that 13 out of the 39 banks in Kenya were found to have violated a range of compliance regulations. This is even as the number of high-quality accounts holding over Ksh100,000 increased at the highest rate in 3 years as Kenyans increased their savings and cut…
- If you have ever lend a friend money out of care and they literally took it to be a donation, you are not alone. I don't know how I even keep hanging out with some of my friends who still owe me sums for months and even years.
- Digital lenders have done some good for individuals and businesses. But what they have been largely known for is the bad; predatory lending, uncouth debt collection methods, debt shaming and contributing to high debt distress. But there's more to all this.
- As the liquidation of Charterhouse and Chase banks are approved by the Central Bank of Kenya (CBK), digital lender Branch has acquired 84.89% of the issued share capital in Century Microfinance Bank Limited. If further approvals by the Capital Markets Authority (CMA) and the CBK are granted, Branch…
- While living debt-free sounds nearly impossible in today’s world, coupled with the ongoing pandemic that has resulted in mass layoffs, it’s still possible to work towards financial freedom. Financial freedom generally means having enough savings, investments, and cash on hand to afford the…
- Hobbies are already great for our mental and physical wellbeing - they make us happy even when things may be falling apart elsewhere. You bet they'd make you even happier if you can get paid while at it. Many have succeed in turning their most cherished hobbies into fully fledged businesses too.…
- From restructuring the digital service tax, to an attempt to remove Parliamentary oversight on VAT approval, to removing some essential zero-rated products, here is how the National Treasury seeks to finance Kenya's largest Budget since independence (Ksh3.6 trillion) and how it may affect your…
- The pandemic has only exacerbated the situation as a Communications Authority of Kenya (CA) report released in January 2021 shows a 159.9% increase in cyber threats in July-September 2020 as compared to the previous three months. Of the 35.1 million incidents recorded in the period, 27.4% were…
- Whether you have just moved into a one bedroom apartment in Ruaka, or are making a few upgrades to your townhouse in Kitengela, the fact that furnishing a home in Nairobi can be very expensive is an open secret.
- I like to think of myself as a work in progress…even with regular additions to our holiday savings account, we were too busy trying to build our futures that stopping to smell the roses was pure fiction. This evening as fatigue was clearly catching up with us, a random getaway idea creeped up on me…
- Some unknown guru once stated that 'the best things in life are the people we love, the places we’ve been, and all the memories we’ve made along the way'. The current economic slump may make such a statement seem like a preserve for the rich and wealthy, with almost every single shilling available…
- City Hall owns over 17,000 units in several 'kanjo' estates around the city with ridiculously low rent rates that have never been reviewed upwards for decades. Finding a vacancy, however, is no easy task.
- I have often found myself in spending frenzies over the years, but my last trip to the barbershop was a turning point. I do a gig. I go through the usual back and forth with the client. I get a windfall. I splurge. That was me.
- Following the release of the university placement for KCSE 2020 students, the Higher Education Loans Board has opened the application portal for undergraduate and TVET loans for both first-time and second and subsequent times applicants.
- In 2020, 1.3 million savers stopped making deposits in Saccos, a 79.5% jump from the 764,472 who had stopped making deposits in 2019. Despite the destabilising effects of the pandemic many Saccos still declared dividends of up to 20% per share.
- Covid-19 has had a direct positive effect on E-commerce in Kenya. While many Nairobians would initially have been sceptical of shopping online, now employees working from home, small business owners and courier companies are making a killing. Offline, a new crop of specialised service are gaining…
- Your savings doesn't to sit idle as you add more to them regularly. You can put them to work through these low-risk govt-backed investment opportunities.
- "I’d always heard that money had the potential to corrupt but never really thought I would get to witness it first hand. It seems like ages ago but the wounds still linger..."
- They say family is everything. Will ideally be there for you through the highs and lows and expect the same of you. But, when it comes to lending or 'soft loans' some relatives may take it a little too far, and if you are a little less firm or allow yourself to be guilt-tripped, you can have it…
- Education is the key. The question now is, what exactly does it open? And what determines whether you got a working key or an expensive knock-off? I have an undergraduate degree from Makerere University and an MBA from the University of Nairobi; today, I am a certified jack of all trades.
- Kenya's capital city is facing severe problems with the supply as well as the quality of its water supply, forcing people to buy it from shady and potentially contaminated sources. Cartels and industrious Kenyans alike have been minting money from the inconvenience of a majority of city residents.
- A poorly planned Christmas getaway to Watamu quickly turns into a nightmare as costs pile up, the holiday cheer sucked out and a rented SUV money pit to add to the unforeseen woes. Once bitten, twice not shy? Painful lessons.
- While everyone is scrambling for hotel space and negotiating for favourable prices at the peak of the holidaying season during Christmas, those who wait till January are guaranteed major savings, a more peaceful getaway and a grand start to the New Year.
- We all love it don’t we? A fresh start, a clean slate, a blank canvas on which we get to try and paint the best version of ourselves. I know I do. It’s why most people take time to reflect at the start of each new year.
- This is my second reveal of the experiment I’ve been carrying out. A practical test to find out if the 50/30/20 budget rule can work on a 50K salary. My initial attempt after receiving my August 2021 salary was inconclusive. I failed but I also got some invaluable lessons.
- The Higher Education Loans Board (Helb) provides prospective students and graduates with loans, scholarships, and bursaries for their education in Kenya. It has over 5 loan categories and scholarships that have differing eligibility requirements.
- What's the largest amount of money you’ve ever made from a bet? Mine was Ksh21,600, and something, in December 2016. I can’t remember the date but I can tell you for certain that it was on a Sunday. This wasn’t your typical Sunday either - you could call it 'Stupid Sunday', because stupid things, I…
- Over the last year, there have been several adjustments in Kenya’s insurance sector, particularly touching on car insurance. Most big players in Kenya’s insurance industry now have a 15-year ceiling when it comes to offering comprehensive cover for a car. Most only offer third-party insurance for…
- Digital Lender Zenka Finance has made a number of updates to its products in recent months, including a new promotion offering new users interest free loans up to Ksh5,000 for up to 61 days.
- NAIROBI Tuesday, March 8, 2022 - The Massachusetts Institute of Technology’s (MIT) FinTech Conference has named Kenyan startup, Money254, as the grand prize winner of their 2022 FinTech Startup Pitch Competition.
- I have never been big on occasions. I have even forgotten my birthday a couple of times, with Facebook coming to the rescue with those colorful notifications and ‘hellos’ from friends you’ve never seen in decades. I guess this is why I ended up with a woman who marks every occasion. A kind of…
- In the initial stages of the pandemic, a single piece of a 3 ply mask was retailing for up to Ksh250 in Nairobi. The fear of catching the deadly virus, the strict enforcement of containment protocols and the apparent scarcity gave Kenyans no choice but to part with whatever amount a retailer wanted…
- I think I have finally cracked it. The code to financial success, freedom, you name it. After years of research, mistakes and missed calls from creditors I think I have finally narrowed it down to a solid theory that will need your approval.
- I am at that stage in life when owning my own home has turned into some sort of obsession. I spend hours on end online looking at what’s in the Kenyan market. This is how I came across some 4 bedroom villas for sale at a new development in the Westlands area.
- According to the Wealth Expectancy Report 2021 (published by the Standard Chartered Group), the Covid-19 pandemic has seen affluent Kenyans’ priorities evolving into new goals, triggering changes to how they manage their finances.
- Kenya finds itself in danger of skyrocketing food prices following the Ukraine-Russia conflict. Having barely survived the adverse economic impact of the Covid-19 pandemic, Kenyans are now facing one of the toughest periods in the country’s history.
- In Kenya, Saccos have always been considered as a major avenue for promoting savings and access to credit services. Sacco membership in Kenya stands at over 10 million members indicating the indelible contribution the sub-sector has been making towards achieving financial inclusion.
