A chama, derived from the Kiswahili word for “group,” is a self-help initiative that operates on the principles of collective saving and investment. These informal cooperatives have become a powerful financial tool, empowering individuals and communities across Kenya. With origins tracing back to the 1960s, chamas have evolved significantly, transitioning from simple savings groups into…
Value Added Tax (VAT) is a form of indirect tax levied on the consumption of goods and services. It’s a major source of revenue for governments around the world, including Kenya. In this article, we’ll delve into the intricacies of VAT, covering its purpose, how it operates, and its impact on businesses and consumers. Purpose…
Dive into Kenya’s intricate tax system with our comprehensive guide. From corporate tax to the new digital service tax, uncover how recent changes and special economic zones impact your business. Stay compliant, optimize your tax strategy, and navigate the latest regulations with confidence. Don’t miss out on essential updates and expert tips for thriving in…
Here are top 10 personal loans offered by Kenyan banks with the lowest interest rates. Personal loans can be a real lifesaver when unexpected expenses pop up or when you need quick cash for various purposes like organizing events or urgent trips. It’s crucial to find the best rates to avoid hefty interest charges, so…
In Kenya, banks are vital institutions that provide a wide range of financial services to individuals and businesses. A bank essentially acts as a financial intermediary, accepting deposits from customers and providing loans while offering various other services like currency exchange, safe deposit boxes, and investment opportunities. There are different types of banks. Here are…
Owning a home in Kenya is undeniably a major milestone, but the soaring costs present a formidable challenge. The expense of land and skyrocketing construction material prices contribute to the complexity of this pursuit. However, envision a pathway to realizing your dream home, irrespective of your financial standing. A mortgage, a financial loan extended by…
For many Kenyans, turning the dream of home-ownership into reality is more attainable than ever, thanks to the availability of budget-friendly mortgage rates in Kenya. A mortgage, essentially a loan where the property serves as collateral, can be a viable means to invest in real estate. We hereby explore the process of securing the cheapest…
An Overview A personal loan is a finances/money provided by lending institutions for individual use. Unlike specific-purpose loans, personal loans offer flexibility, allowing borrowers to utilize funds according to their needs. Factors Influencing Loan Access The accessibility and amount of personal loans hinge on two primary factors: income and creditworthiness. Your financial goals can be…
