More often than not, we have all fallen victim to short bursts of spend-happy periods where we blow our paycheck all at once. Though it may feel fun to let your mind take a break and spend as you wish, it isn’t the best thing for your wallet, the morning after. No one enjoys living paycheck to paycheck, and if someone told you there was a way to make your money last for longer, wouldn’t you jump at the chance? Well, there is and it is a simple word, budgeting… In a simplified way, budgeting is the act of tracking your finances…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Co-operative Bank of Kenya’s net profit for the nine months to September grew 18.4 per cent to KSh11.6 billion compared to KSh9.8 billion reported in a similar period last year. The lender attributes the increase to high income and a return to profitability of its subsidiary Kingdom Bank. Kingdom Bank Limited posted a profit before tax of KSh413 million in Q3 2021, compared to the 2020 full-year loss of KSh124 million. The subsidiary’s loan book shrunk 15 per cent to Ksh.4.3 billion. Results Highlights Total assets grew by 16 per cent mainly driven by a 7.8 per cent expansion of…
Digital lenders will no longer give loans to new customers outside their existing database of borrowers, citing their continued freeze out of the credit reference bureaus (CRB). Current rules bar the unregulated digital lenders from blacklisting defaulters, and they can only access a borrower’s credit information from a CRB with the express consent of the borrower and Central Bank of Kenya (CBK). Digital Lenders Association of Kenya (DLAK) chairman Kevin Mutiso said its members will now only lend to repeat customers on their own databases, a move that is likely to deny a majority of borrowers short-term loans. The lobby…
Stanbic Bank Kenya on Tuesday announced winners of its Ksh 33 million grant through its Accelerate Program aimed at supporting small businesses. Through its foundation and United States African Development Foundation (USADF) unveiled seven recipients of Ksh 33million Accelerate Grant Fund. The grant funds are being issued under the Accelerate Program which aims to position Kenyan businesses for success while addressing the skills gap in the country by boosting entrepreneurship and employability of citizens through digital literacy and upskilling, career development and providing funds (grants) and access to markets. “Winners of today’s grant funds are Micro, Small and Medium Enterprises…
Toyota Kenya introduced the Hilux Safari Rally Limited Edition. The massive new car has become embedded among the conversations around car circles the past few days. We all know that Toyota has many models but what makes Hilux Safari stand out? What makes it tick? What is new in this Hilux Safari Limited Edition? There are only 15 Hilux Safari in Kenya. Three have already been sold. The new Hilux is a limited and exclusive edition offering all the style, ambiance, performance, and technology that Safari racing enthusiasts expect. The fact that there are only 15 makes it stand out.…
Imposter syndrome is something that most of us have felt at one time or another. Even if you know you have all the right qualifications and experience to be in a position, it can be all too easy to feel like you don’t belong. Whether it’s someone dismissing your work or even just casually telling you about something you’ve never heard of as if it’s common knowledge, it can be an incredibly difficult space to climb out of. Imposter syndrome can be especially insidious among entrepreneurs, who already have to deal with ecstatic highs and crippling lows. In fact, a…