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The United Nations (UN) recognises about 180 currencies in the world as legal tender. Have you ever asked yourself which one is the strongest?
The United States (US) dollar has been for decades, used as a fixed-based currency because it’s used in most foreign markets.
The strongest currency, therefore, is one that yields the smallest exchange against the dollar. This means that the strongest currencies are those that are more expensive than the US dollar.
Kenya is home to some of the wealthiest politicians on the continent, and probably in the world.
Kenyan politicians are paid well with members of parliament taking home a monthly salary of between Sh 621,250 and Sh 710,000.
As the 2022 General Election set for Tuesday, August 9, 2022, draws near, we look at some of Kenya’s richest politicians seeking elective seats, their businesses and estimated net worth.
The 2022 Knight Frank wealth report revealed the number of dollar millionaires in Kenya as of 2021 stood at 3,362.
This was an increase of 39 compared to the same period in 2020.
The same report indicated that Kenya had 88 ultra-high net worth individuals (UHNWIs), whose net worth was estimated at over Sh 3.4 billion.
Given the importance of financial skills in succeeding in life, it is surprising that society today does not offer children the much-needed knowledge about the proper usefulness or value of money.
While the primary responsibility of parents is to prepare children for a more independent life, it is advisable that they also give them financial lessons to navigate life. As in my first scenario, personal finance more often than not is not discussed at the family level.
With a society that is pushing young people to be financially independent, learning about personal finance has never been more important for children. Money management skills for students come in handy in such cases especially when the children are older.
Kenya is home to over 3,300 millionaires. According to the 2022 Knight Frank wealth report,…
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