Business

22 March 2024 - 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.…

22 March 2024 - Digital loans are short-term debt products you can access directly from your phone through an app, website, or USSD. Digital Credit Providers (DCPs) offer loans with an average repayment period of 30 days. Today digital loans are the preferred…

22 March 2024 - Digital loans are easily accessible, but this doesn’t mean you should borrow blindly. Before applying, ensure you have a solid repayment plan to avoid default which can hurt your creditworthiness. Second, ensure that you practice mindful borrowing;…

22 March 2024 - While Saccos have the advantage of opening up your access to credit and dividends on shares and relatively higher interest on savings than savings accounts, I learned the hard way how liquidity is a major factor in taking advantage of quick…

22 March 2024 - Managing your finances can be challenging, especially when facing unexpected expenses. One way to deal with these financial hiccups is to take the financing route, and two popular choices are credit cards and digital loans. While both options can…

22 March 2024 - Taking out a mortgage is a significantly life-changing financial commitment that requires careful consideration and preparation. Preparation allows you to understand the steps involved and mistakes to avoid, increasing your chances of approval. 

22 March 2024 - Saving is an act of paying yourself first because it involves safeguarding your future. It is recommended to always set aside a portion of your income as savings as the very first thing you do whenever you get paid.

22 March 2024 - Four months into 2023, it is important to reflect on the resolutions you made at the start of the year. This is particularly important in your personal finance journey because what gets measured, often gets done. Plus, in this article we show you how…

22 March 2024 - Smartphone financing is now available in Kenya. With a deposit as low as Ksh3,000 and instalments as low as Ksh550 per week, you can get the smartphone your side hustle or lifestyle needs without having to part with the full amount all at once. The…

22 March 2024 - The Mogo smartphone loan allowed me to upgrade to the Samsung A54 256GB for only Ksh2,000 in weekly installments. Luckily, the upgrade brought about better fortunes, my sales increased since my products were accompanied by great photos. My life has…

22 March 2024 - Do you remember your childhood dream career? I vividly remember mine, including the unfortunate events that separated me from the career I had dreamt of for more than 15 years. From a young age, I wanted to become a pilot. It wasn't a particularly…

22 March 2024 - One factor that makes agribusinesses quite lucrative is the fact that the end product - whether it is avocadoes, fruits, milk or even meat - is almost attached to human existence. In other words, people will always eat, regardless of the season or the…

22 March 2024 - Mogo smartphone financing allows you to own a smartphone through a small installment followed by weekly installments. For the Tecno Spark 10 Pro, the weekly installment is only Ksh750 over a period of 52 weeks. The deposit needed to acquire the Techno…

22 March 2024 - FlashPesa is one of the few digital lenders in Kenya that have a clear loan limit growth process that is standard for all borrowers, it has a relatively competitive interest rate and employs dedicated customer relationship managers that customers say…

22 March 2024 - Since March 1st, I have been a proud owner of a Techno Spark 10 C. I not only started a new year, but I also began a stress-free lifestyle after saying goodbye to the stress of having my kids face embarrassment because of mistakes in their CBC…

22 March 2024 - What is more? The FlashPesa team has exceptional customer service. I have a dedicated relationship manager, Winnie, who is always offering me tips on new products, loyalty programmes, and ways to increase my limit. I have never gotten a spam call or…

22 March 2024 - The Nokia C31 is available across various retailers in Kenya. There are also various ownership options you can choose from. If you currently do not have the full amount to make an outright cash purchase, the Nokia C32 is available through the Mogo…

22 March 2024 - The Samsung A04 is available through the Mogo smartphone loan. To buy the phone through financing, you will be required to make a minimum down payment of Ksh4,000. You will then receive the smartphone and complete the payment by making weekly…

22 March 2024 - The Absa Digital Savings Account has an accessibility advantage, no fees or penalties, and can help you save towards your financial goals. This makes it attractive as a saving vehicle as you are guaranteed easy access to your money during emergencies…

22 March 2024 - The Absa Digital Savings Account offers a 9% interest rate per annum, which accrues daily and compounds monthly. So, with Ksh37,700 monthly savings, you would have deposited a total of Ksh904,800. However, the total amount in your account would be…

22 March 2024 - With my customized approach, I successfully allocated 30% of my salary –which amounts to Ksh 30,000 – towards my car fund. And I made sure to prioritize paying myself first before allocating funds elsewhere. ‍Now, to cover the remaining Ksh20,000, I…

22 March 2024 - The FlashPesa Digital loan also stands out because of its predictable and transparent loan limit growth process. As the loan limit increases, the service fee charged by FlashPesa reduces. ‍Every customer who qualifies for the FlashPesa Digital Loan…

22 March 2024 - Given the prevailing economic environment in which many consumers are having to make tough spending decisions, we understand the growing need to manage expenses and make purchases without straining one’s wallet. That’s why we’re excited to launch our…

22 March 2024 - I learnt I was going to be a father just after my 26th birthday, I had no savings and I had to teach myself to develop a savings habit. I learnt of various budget rules, including the frugal minimalist rule that I initially used while we were waiting…

22 March 2024 - July 31st will mark the end of 15 months since I started this savings journey. It will also be the second month when I will be earning interest under the revamped Absa Digital Savings account. After the monthly interest is paid out, I will have about…

22 March 2024 - The pregnancy was going well, until one day, during a routine prenatal scan, the doctor announced that we were going to have not just one, but two bundles of joy! The news came with mixed emotions. There was the joy of knowing we were going to have a…

22 March 2024 - On June 30, 2023, Absa Bank Kenya launched a BNPL service for credit card customers. It is the first BNPL credit card to be offered exclusively by a Kenyan commercial bank. Christened “Buy Now Lipa Pole Pole”, the Absa BNPL service allows credit card…

22 March 2024 - We open from Monday to Saturday and close on Sundays. The daily revenue comes to a minimum of Ksh5,500 between Monday-Friday. On Saturdays, we make about Ksh3,000 - on average. This comes to Ksh30,000 a week and if all goes well, Ksh120,000 in monthly…

22 March 2024 - To prevent your money from losing its purchasing power, you need to save it in an interest-bearing account that pays higher interest than the inflation rate. Since the inflation rate is 7.28%, your savings account should earn you interest equal to or…

22 March 2024 - If the total value of the monthly sales of your business is at least Ksh100,000, then you may be interested in the Shara Unsecured Revolving Working Capital Loan that is tailored for small and growing businesses that need instant working capital…

22 March 2024 - Typically, you should save the equivalent of three to twelve months of your monthly expenses as emergency funds, depending on your financial needs and job security. This money is meant to prevent you from digging into your savings or going into debt…

22 March 2024 - I graduated with a bachelor’s degree in science in December 2019, three months after I landed my first job. I sat my final exams in July 2019. A day after starting my final exams, I got an email from a human resource officer at a food manufacturing…

22 March 2024 - The laundry business is fairly profitable and straightforward - which makes it an ideal venture. Imagine a convenient home-based laundry service, where customers can simply call in, and their clothes are collected, cleaned, and then delivered back to…

22 March 2024 - An average of Ksh7,000 has gone to purchasing detergents and other related materials, as well as to marketing her business. This means her average monthly profit is Ksh20,000. And the business is growing. Her current project involves coding to build a…

22 March 2024 - NAIROBI, Kenya, Mar 22 – mTek, a Kenyan-based digital online insurance platform, has slashed the cost of travel insurance policies for domestic and international trips over the Easter holiday. Travelers will enjoy a 20 percent reduction in the cost of…

22 March 2024 - I changed the nightly price to Ksh2,000 to attract more customers. I also started to actively market on social media as opposed to waiting for potential guests to find me. For most of 2022, my profits oscillated between Ksh15,000 on a good month - and…

22 March 2024 - The Absa BNPL credit card service is a first-of-its-kind product from Absa Bank of Kenya that allows customers to convert their outstanding credit card balance to short-term credit. Its biggest benefits include the flexibility to split payments across…

22 March 2024 - I learned that the selfie feature is used to confirm that the person applying for a digital loan is actually a real person - through an AI system that matches the selfie submitted with the picture in the copy of the ID. It seems the proof of identity…

22 March 2024 - TIA Switch is an insurance product underwritten by Takaful Insurance of Africa and powered by AiCare. It is regulated by the Insurance Regulatory Authority (IRA). It uses telematics technology to offer discounted premiums for Kenyans driving less than…

22 March 2024 - The Government, through the Office of the Data Protection Commissioner, has contacted the owners of TikTok and sought to ascertain the level of compliance to ensure the privacy of individuals is respected. At the moment, we are not satisfied that…

22 March 2024 - “Zenka applies the highest security standards following CBK guidelines and our internal privacy policy. Our customers' safety has always been our top priority.‍ Selfie identification is not only a huge step towards protecting our clients from scammers…

22 March 2024 - It's as if our salaries are developing wings and taking flight, leaving many Kenyans wondering where it all went. The cost of fuel, electricity, and basic commodities such as cooking oil, sugar and maize flour has gone up. Even household items that we…

22 March 2024 - Monitoring how the savings account is growing is my new exciting thing. The account is well-suited for goal-oriented savings. In addition, my savings earn interest. Yes, at an above-inflation rate of 9% per annum - which happens to be the highest…

22 March 2024 - Like Zenka, commercial banks offering digital banking have been translating the existing physical KYC process - that requires a customer to present their original ID, KRA PIN copy and a passport-size photo - into a digital option of uploading a copy…

22 March 2024 - The used car market is growing as more Kenyans seek a more affordable path to car ownership. However, the market can be challenging for the average car buyer who has little understanding of the market dynamics or a technical understanding of the state…

22 March 2024 - Umba is a Microfinance bank licensed by the Central Bank of Kenya. Umba offers market-leading fixed deposit and standard savings accounts covered by KDIC Insurance that can be accessed instantly through their app. Download the app, open an account and…

22 March 2024 - I looked for Facebook posts bearing the seller’s name but instead of getting the vehicle’s offer history, I came across two disclaimers showing a number of clients had been conned while trying to buy this specific car. It was a close call as I had…

22 March 2024 - One day I was catching up with news on my mobile browser and I saw that Umba, a Kenyan bank licensed by the Central Bank of Kenya, had launched a fixed deposit account that paid an interest rate of 16% per annum. ‍This is the highest rate I have seen…

22 March 2024 - Amidst these trials, Kenyans have demonstrated remarkable adaptability and resourcefulness. The lessons learned in 2023 extend beyond mere survival; they delve into the benefits of financial management and long-term planning. So, what money lessons…

22 March 2024 - December is here. It’s the month of bonding with family and having fun together. Whether this means road trips, a quick shopping dash, or a long drive upcountry, now is the time for you to buy that family car you’ve been saving for.