Dive into our Finance section for savvy tips, insightful articles, and the latest trends in money management. Whether you’re budgeting, investing, or seeking financial freedom, we’ve got the tools and advice you need to thrive in Nairobi’s dynamic economy. Empower your financial journey with us!
There are several options available for sending money from Australia to Kenya, including bank transfers, online money transfer services, and in-person money transfer services. Some popular options for sending money from Australia to Kenya include TransferWise, WorldRemit, and Xoom. Before sending money, be sure to compare fees, exchange rates, and transfer times to choose the … Read more
The iPesa loan app is a mobile-based platform that allows individuals to access quick and convenient loans in Kenya. According to their website, the app aims to provide financial inclusion to underserved populations and help users manage their financial needs more effectively. One of the standout features of the iPesa loan app is the speed … Read more
LendPlus Loan App is the perfect solution for those who need access to relatively high loan amounts in a hurry. It’s a user-friendly mobile loan application that allows you to apply for money quickly and conveniently, compared to other mobile loan apps in Kenya. The app is available on Google PlayStore and can provide fast and immediate … Read more
Kenyans in need of credit will from tomorrow be allowed to apply for loans via the Hustler Fund by dialing *254# across all networks. The code will be operational from December 1 to all Safaricom, Telkom, or Airtel phone numbers. Interested applicants will then be asked to dial their ID number and select a pin … Read more
Still, there’s no way to directly connect PayPal to Cash App at the moment. There’s, therefore, no way to transfer money directly between the two. However, you can connect the PayPal Cash Card and Cash App Card or connect apps with a linked bank account. All these workarounds work to transfer between PayPal and CashApp. … Read more
Residential rental income tax is a tax payable by resident persons (individual or company) on rental income earned for the use or occupation of a residential property where the rent income is between Kshs 288,000 (Kshs 24,000 per month) and Kshs 15 million per annum. Landlords with rental income below Kshs 288,000 or above Kshs … Read more
CRB is an acronym for Credit Reference Bureau. An individual’s credit profile is maintained by a credit bureau so that financial institutions can check it during the loan application process. Depending on their credit history, a borrower may be approved for or denied a loan advance. We have three operating in Kenya currently. They include … Read more
Cheapest Loans in Kenya: With the introduction of the 20% excise duty on “fees or commissions” earned by financial institutions on a loan, lenders scrambled to review the cost of their loans to comply with the law. Overall, the cost of credit across banks, microfinance institutions, and digital lenders has increased courtesy of the new … Read more
Kenyan Banks will charge customers a transactional fee (plus excise duty of 20%) when moving funds from their bank to M-Pesa and Airtel Money mobile money wallets. Mobile Money wallets will also charge fees when moving cash from the wallets to bank accounts. That means the zero-rated transfer of cash we’ve enjoyed is going away. 2023 is … Read more
Family Bank to M-PESA: The Central Bank of Kenya just announced that they’re going to start charging fees for bank-to-mobile money transfers starting January 1, 2023. This is because the financial industry in Kenya asked for the fees to be reinstated – they were dropped during the pandemic. Up until now, Kenyans have been able … Read more
A money market funds are a type of unit trust fund or a mutual fund that invests in low-risk and short-term debt securities. It is an investment that is ideal for low-risk investors who desire stability and security for the capital invested. Money market funds in Kenya are regulated by the Capital Markets Authority (CMA). In no … Read more
You might have seen Mwananchi Credit adverts on TV with Jalan’go as their brand ambassador. Or their animated character “Sospeterson” who uses humor to portray the affordability and accessibility of the company’s services. To most, the company seems to be a new one but it has been in existence for the past 11 years offering secured loans … Read more
Opening an account with a Cooperative bank account is normally a straightforward process that may require different documentation depending on your preferred account type. For example, while a savings account may require applicants to only submit their national identity card/passport (both original & copy) and a copy of their KRA pin, other accounts like salary accounts require additional documents … Read more
With the PesaPap loan app, customers can carry out transactions from their bank accounts from the comfort of their smartphones. The app, which is available in all versions, Android, Windows, iOS, and Blackberry, allows one to pay bills such as Water and Power bills directly from their account. However, having the app does not require … Read more
MOGO Kenya is part of the Eleving Group, an international FinTech company operating in 15 countries on three continents. MOGO loan provides financing options for used cars, logbook loans, Boda Boda, and Tuk Tuk loans at affordable rates. Types of Loans offered by Mogo Mugo offers secure loans to finance your car, Boda Boda or Tuktuk … Read more
The branch loan app is a short-term mobile loan lender offered by Branch International to users in the following countries; Kenya, Nigeria, India, and Tanzania. The loan app was introduced to the Kenyan market in 2015 and heavily relied on Safaricom M-Pesa to deliver its loans to thousands of its users. Today, Branch has grown … Read more