- Many agribusinesses are stuck in a frustrating cycle of uncertain and insufficient funding, unable to grow their operations. Money254 takes a look at Agri Credit Line by Avenews Kenya, a flexible financing product, what it offers and how it could fit the needs of agribusiness owners navigating…
- I set a goal of saving Ksh300,000 by the end of the year, a significant jump from the Ksh200,000 I managed to put aside last year. I work as a mid-level accountant at an FMCG company in Eastleigh, Nairobi. At the start of the year, my net salary was Ksh70,000. I was able to save Ksh449,000,…
- In today’s news, the ramifications of President William Ruto’s decision to cancel two contracts awarded to the Adani Group dominated major news headlines. PwC has raised concerns about the potential negative impact of proposed tax changes in the Tax Laws (Amendment) Bill, 2024, and the Tax…
- A week after Transport CS Davis Chirchir defended India’s Adani Group against corruption allegations, its CEO Gautam Adani and senior executives were charged in the US over a Ksh32 billion bribery scheme.
- The National Bank of Kenya has warned that it may auction the affordable housing units at Jeevanjee Estate in Pangani, Nairobi, to recover a Ksh1.9 billion loan tied to the mother title. NGOs, and churches, now dominate Treasury bill holdings at 56% (Ksh346 billion) of the Ksh615 billion market,…
- My uncle had chances, to rebuild, to provide for his family, to rise again. But he squandered them all, believing there would always be another opportunity. I resolved to learn from his mistakes. Wealth isn’t just about earning; it’s about protecting, managing, and growing what you have.
- The National Treasury aims to raise an additional Ksh343 billion in tax revenue for the 2024/25 financial year, targeting a total of Ksh2.732 trillion amid mounting debt pressures and a Ksh4.329 trillion budget. Further, Kenya's CA is seeking the UN's assistance to regulate satellite providers like…
- You have been saving diligently all year, well done. But what you do next with that money you have accumulated the whole of 2022 will be more important than the sacrifices you've been making. If you did not have a plan for your savings, it's time to pause and consider all the available options.
- You know that feeling when you make your first real cash from a side hustle? That was me when my Mitumba hustle hit its first Ksh10,000 profit. It all started with a trip to Gikomba and ended with a new smartphone in my hand. The phone helps me track deliveries, edit photos, and manage customer…
- Eight years, two children, and countless school runs later, I found myself longing for more. The kids were in school, and I wanted to reclaim my sense of identity—not just as "Mom," but as "Professional Me." So, here I am, back in the corporate world in my 40s. It’s not easy, but I’ve learned a few…
- An IMF report found that 97% of government institutions in Kenya have not disclosed the beneficiaries behind their awarded tenders. The Senate has launched an investigation into allegations of collusion between the Social Health Authority and private insurers over a Ksh6.3 billion medical contract…
- Public institutions in Kenya have defaulted on Ksh266.5 billion in Treasury-backed loans, potentially placing taxpayers on the hook for a total of Ksh946 billion. Mobile money usage is highest in Kenya’s construction sector, with 66.7% of businesses preferring it for transactions due to the…
- Investing in Money Market Funds (MMFs) remains a popular choice for Kenyans seeking stable, short-term returns. However, October 2024 saw a decline in MMF rates, continuing a downward trend. The overall average daily effective rate dropped to 14.21% per annum, down from September’s 14.48% rate.
- KRA has issued a directive for all taxpayers to verify their mobile phone numbers in the iTax system. Central Bank of Kenya (CBK) is the nation’s wealthiest parastatal with assets valued at Ksh1.96 trillion as of June 2024. Kenya Railways has defaulted on a Sh167.5 billion loan from China for…
- If you're in the market for a new phone or laptop, importing from the US could save you money while giving you access to a broader range of products. Electronics in Kenya often come with higher markups due to shipping, taxes, distributor costs, and sellers profit, making direct imports a cost-…
- Oil marketers in Kenya are pressing for a revision of the fuel pricing formula, which they say no longer reflects the rising costs of supply. Kenya is preparing to reintroduce a carbon tax with guidance from the IMF. Kenya's foreign exchange reserves hit a three-year high of $9.32 billion, rising…
- Safaricom Plc has released its financial results for the first half of the financial year ending March 2025. The results reinforce the telco’s place as the region’s leading telecommunications and digital financial services provider. The company recorded group revenues of Ksh181 billion for the half…
- The National Assembly’s Committee on Delegated Legislation has approved a Ksh 10 increase in the road maintenance levy, raising it to Ksh28 per liter for petrol and diesel. According to Capital Business, this decision aims to support the growing need for road maintenance as Kenya's road network…
- Misfortune never walks alone; it matches with a parade. Mine started when my dad passed away. I had never known tragedy until then. And five years later, I have just begun accepting life and doing what I have to. I want to build that kind of wealth, the kind that lasts, the kind that no misfortune…
- Safaricom’s half-year financial results for 2025 reveal impressive growth, with group service revenue rising by 12.9% to Ksh177.5 billion. With Trump's return, it is unclear whether the new administration will revive the FTA talks, especially with the expiration of the Africa Growth and Opportunity…
- The IMF has warned Kenya against cutting interest rates further, despite the recent drop in inflation and stability of the shilling. In its first month, Kenya’s new SHA portal has processed over Sh1.6 billion in health service claims from hospitals. Turaco became Kenya’s first insurtech company to…
- When seeking financial freedom, your need to ensure every aspect of your finances is handled well, you’re saving, you’re not overspending, and you can live comfortably while planning for the future. However, this doesn't happen overnight, and you must take measures and adopt principles that can…
- Like every person, I often think of how life would have been if I had come from generational wealth. And I do not mean the 10 acres of land my grandfather left his 8 kids but more like 100 acres for each offspring. Or in the Kenyattas or Koinange’s kind of generational wealth. In those days, he was…
- The Kenyan government has announced a data-sharing agreement with telecommunication companies to improve tax compliance. Kenyan banks have increasingly used the Central Bank of Kenya’s (CBK) discount window. 𝗡𝗲𝘄 𝗞𝗥𝗔 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝗠𝗼𝗯𝗶𝗹𝗲 𝗗𝗲𝘃𝗶𝗰𝗲 𝗜𝗺𝗽𝗼𝗿𝘁𝘀. 𝗞𝗲𝗻𝘆𝗮 𝗥𝗲𝗾𝘂𝗲𝘀𝘁𝘀 𝗥𝗲𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝗶𝗻 𝗜𝗠𝗙 𝗔𝗰𝗰𝗲𝘀𝘀.
- Today, much of the conversation centres around the National Treasury’s proposed changes to the tax regime through the Business Laws Amendment Bill 2024, the Tax Laws (Amendment) Bill 2024, the Tax Procedures (Amendment) Bill 2024, and the Public Finance (Amendment) Bill 2024.
- Kiyosaki defines leveraging as investing funds from external sources to make money using other people’s money. While researching how wealthy people grow their wealth, I discovered borrowing against my Sacco deposit to invest in Treasury bonds, and turning my small savings into a growing source of…
- The government through the Ministry of Health has given directives that all healthcare providers contracted under the Social Health Authority (SHA) to give seamless treatment to registered contributors without requiring any upfront payments.
- Investing in Money Market Funds (MMFs) remains one of the most popular options for Kenyans looking for stable, short-term returns. Here is a list of the top 15 performing MMFs in Kenya based on their daily average return in September 2024.
- The Teachers Service Commission (TSC) has announced 20,000 teaching opportunities to Junior Secondary School (JSS) Teachers on internship basis. TSC made this announcement on Tuesday ,October 29 calling on qualified candidates to apply for the opportunity that will run for 12 months.
- When the US Federal Bank (Fed) announced an aggressive 0.5% cut to interest rates in September; the Central Bank of Kenya (CBK) recently slashed its benchmark interest rate from 12.75% to 12% (2), following on from a previous cut of 0.25% in August, the country’s largest in over four years (3).
- A new report has shown that most people in the Nairobi Metropolitan area are choosing to live in satellite towns such as Juja, Ongata Rongai, and Kitengela. This shift comes as property and rental prices in these areas remain competitive compared to Nairobi's suburbs that have traditionally…
- Land prices increased by 1.6% in the third quarter of 2024 compared to the second quarter, which grew by 1.8%. Land value increased due to developers investing in high-density housing projects in Nairobi’s suburbs. Developers are rushing in to invest in land anticipating high demand for residential…
- The Communications Authority of Kenya (CA) has given directives that starting November 1, all new mobile phones manufactured locally or imported into the country for sale will have to be registered by the Kenya Revenue Authority (KRA) or will risk being shut down.
- In early 2023, a friend of mine started a wines and spirits shop. I remember him sharing updates about how well his business was doing after just three months—he was profiting over Ksh70,000 monthly after expenses. I was happy for him, but there was also a part of me that felt a pang of envy. I…
- From managing an online shop to promoting businesses through social media, smartphones have become a critical pillar for the growth of small businesses. For entrepreneurs looking to reach over 13 million Kenyans who use social media, the M-KOPA X20 can help them revolutionize their business.
- The government has announced that Junior Secondary School (JSS) teachers will have to wait longer to get the much awaited permanent and pensionable term - with recruitment set to begin in January 2025.
- I, WILLIAM SAMOEI RUTO, President and Commander-in-Chief of the Kenya Defence Forces, pursuant to Article 149(1) of the Constitution, do hereby nominate PROF. KITHURE KINDIKI, Ph.D., EGH, for consideration and confirmation through a vote of the National Assembly to be the next Deputy President of…
- What if you could drive away in a 2016 Mazda Axela instead of settling for an older model? The catch? The Axela is going for Ksh1.7 million. In this article, we’ll dive into why financing your car might be a smarter financial move than you think, and how Autochek’s car financing options can help…
- The Central Bank of Kenya (CBK) on Monday, October 14, announced it had given a go ahead to JP Morgan Chase Bank, the world’s biggest bank by market capitalization, to set up a representative office in Kenya.
- This article explores how M-KOPA’s X20 is more than just a smartphone; it's a lifeline that provides free medical insurance, ensuring Kenyans can navigate health challenges without the added burden of overwhelming costs. Here’s how the embedded hospital cash cover works and why it is a lifeline for…
- The Government has announced a 6% rise in minimum wages for workers across various sectors. Labour Cabinet Secretary Alfred Mutua made the announcement in a gazette notice issued on Friday, October 11, to take effect from November 1st 2024.
- The government, through the State Department for Housing and Urban Development, has announced there are over 5,000 bedsitters for sale on a rent-to-own basis at the Mukuru Affordable Housing Project in Nairobi. Buyers will pay Ksh3,000 monthly rent for 30 years.
- I was left with a company in ruins, a broken friendship, and a massive debt to my sister. The hotel contract was cancelled, and I had no way to repay the loan. We’d custom-made furniture for the hotel’s lobby, dining area, and lounges—pieces that now had no home.
- I-REITs offer the advantage of real estate investment without needing large capital outlays. For example, with the Vuka Investment Club, your Chama can invest in I-REITs with as low as Ksh300,000 per year.
- Starting a business in Kenya can be an exciting yet challenging journey. This is why, before you get too far ahead, it’s essential to understand one of the most critical aspects: the cost. To help you get started on the right foot, here are the costs you should plan for when starting a business in…
- The Teachers Service Commission (TSC) has initiated a significant recruitment campaign, offering 46,000 job vacancies to teachers. Out of the 46,000 available posts, 6,000 are reserved for primary schools, 39,550 for Junior Secondary Schools, and 450 for secondary schools.
- We’ve all heard about the potential of agribusiness in Kenya, but turning that potential into rapid growth can be challenging. Jonathan, CEO of Avenews, a global leader in agribusiness financing, joins us today to discuss how established agribusinesses can overcome these hurdles and achieve…
- In 2018, I was a writer on iwriter, a marketplace for freelance writers. I had risen up the ranks and was earning almost $0.02 per word. My monthly earnings averaged Ksh30,000 to Ksh50,000. This was enough for my bills but I never thought of stashing some in an emergency fund or investing in a side…
- The KRA is planning to integrate a new real-time tax system that will integrate with cryptocurrency exchanges so that crypto transactions can be tracked. This is on the back of Kenya having an estimated four million crypto users, one of the highest in Africa, a matter KRA is looking to turn to in…
- The government is seeking to implement higher taxes that will raise the production costs of commodities such as maize flour, bread, and milk, likely resulting in increased prices for consumers.
