Author: Khusoko

Google’s CEO Sundar Pichai announced on Thursday that the tech giant is committing $10 million (KSH 1 billion) to help drive economic recovery in Kenya.  Part of the grant, Ksh 3 million will go towards supporting small businesses, Ksh 5 million for startups and Ksh 2 million for charity, and other investments lined up by his organization to the country.  Sundar announced the grant during a virtual meeting with President Uhuru Kenyatta in an event hosted by the Corporate Council on Africa.  President Kenyatta thanked Google for working closely with the Kenyan Government in driving digital transformation across the country in the 13 years of its…

CIC Insurance Group says its earnings for the financial year 2020 will be substantially lower compared to the same period in 2019. In a statement issued Thursday, the Nairobi Securities Exchange listed firm  says it experienced a tough operating environment in 2020 that resulted in lower than expected returns. “With the tough operating environment, performance of the stock market has led to reduced returns from the equity investments,” it says adding that “Property market has been tight with limited opportunities to dispose properties and support in offsetting financial charges.” The firm posted Ksh 386 million profit before tax in 2019,…

Virtual BYOB Live summit to be held live on BLAZE Kenya’s Facebook, and YouTube platforms BLAZE by Safaricom will Thursday host its second BYOB Live summit beginning from 8 pm East African time. Themed around ‘reinvention’, the summit seeks to inspire the audience to have a disruptive mindset that will enable them to pivot into new areas and see opportunity in challenge. “Mentorship is the key to youth empowerment, it is like sending a ladder down to help someone up. I look forward to connecting and interacting with young people through platforms such as BYOB Live, where we can avail the mentorship,…

Everyone agrees that it is crucial to saving, but no focus is given as to why we should save which I think is very important.  Having a strong reason to do something gives one motivation and keeps one on track. So why should we save? Savings are important for several reasons.  Safety net First, they give one a safety net in case of an emergency such as a health problem that an insurance health policy does not cover or a job loss. It is advisable to build up your savings to at least cover your expenses for 6 months. Investment…

Mwananchi Credit Limited has extended the repayment period for loans taken by civil servants and teachers to eight years. The secured credit lender says this is part of efforts to ease the financial burden on this group of borrowers as Covid-19 continues to adversely affect people’s finances.  Civil servants and Teachers Service Commission (TSC) members will now have up to 96 months (eight years) to pay their loans, a major relief from the previous six years (72 months). Civil servants and teachers access Mwananchi Credit loans through the salary check-off loan. “Civil servants have been the backbone of the nation…

Safaricom has launched an M-Pesa Bill Management service targeting schools, landlords, utilities and other businesses with repeat payments where they can present and receive pending payments from customers, and issue electronic receipts. For schools, the Bill Manager platform will enable management to customise the different type of fees such as tuition, lunch, transport, school trips among others, and also to send fee reminders to parents and guardians. Landlords and property agents can send rent payment reminders and reconcile any received payments.  For utility providers such as water and internet providers, the service will enable them to automatically bill their customers…