1. Digital Lenders 1. Hustler Fund: Initiated by the government on November 30, 2022, the Hustler Fund swiftly became a game-changer for businesses. Offering loans ranging from 500/= to a substantial 50,000/=, this fund garnered an impressive 19 billion shillings within three months. Eligibility is open to all, with credit scores determining access levels. The…
For business, whether small, medium, or large, securing a business loan from banks or any financial institution demands strategic planning. The most important role of these funds in steering the success of a business, fostering growth, or initiating new projects cannot be overstated. Additionally, adequate funding acts as a backup against financial crises, ensuring a…
Two giants, Equity Bank and Safaricom, have innovative overdraft facilities – Boostika and Fuliza, respectively. We dive into the details of these products, comparing their features, repayment terms, and eligibility criteria. Equity Bank Boostika The Genesis of Boostika Equity Bank Kenya has stepped into the realm of overdraft solutions with the introduction of Boostika. This…
Equity Bank Kenya has made has yet again made groundbreaking announcement, introducing its latest financial solution, ‘Boostika,’ which is an overdraft loan facility set to challenge Safaricom’s Fuliza. How Boostika works The innovative unsecured facility empowers customers to overdraft their accounts, allowing transactions of up to Ksh 100,000 (USD 625), facilitating seamless shopping experiences even…
The African Development Bank (AfDB) endorses Energy Cabinet Secretary Davis Chirchir’s plea to the parliament, urging the lifting of a moratorium preventing Kenya Power from entering into new agreements with independent power producers (IPPs). AfDB emphasizes the critical need for Kenya Power to swiftly engage new independent power producers (IPPs) to counteract the decline in…
Amidst a backdrop of intricate market dynamics, fuel prices in Kenya are poised to witness a substantial retreat, marking the most significant decrease since October 2021. Commencing at the stroke of midnight on Thursday, consumers are set to experience a noteworthy relief, with prices plummeting by up to Ksh5 per litre. In the bustling urban…
In a groundbreaking move, the Nairobi Coffee Exchange (NCE) is set to undergo a transformative shift under the watchful eye of the Capital Markets Authority (CMA), heralding the emergence of The Coffee Exchange. Kenya’s Ambitious Coffee Reforms Unveiled Kenya’s ambitious coffee reforms are in full swing, marked by the comprehensive implementation of the Capital Markets…
In November 2023, the overall inflation rates demonstrated stability, primarily bolstered by a decline in the prices of crucial food items. Despite a slight uptick to 6.9 percent from 6.8 percent in October, this stability was maintained. Notably, there was a marginal decrease in food inflation, resting at 7.8 percent in October compared to 7.9…
