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Browsing: Kenya
Most Kenyans, 83 per cent, indicated a willingness to increase the amount of money they allocate to savings and investments, but the inability to save due to insufficient funds after fulfilling their obligations that require regular funding and the availability of quick digital loans.
Among their obligations which contribute to Kenyans’ financial strain is supporting their extended family which considerably bites into their savings. 84 per cent of people indicated that they regularly provide some income to their extended family, mostly in case of emergencies, because they feel a sense of obligation to send their extended families money and because their extended family members treat them better when they are sent money.
On their part, the extended family members mostly use the money to cater to recurring expenses like food & transport, school fees and medical expenses at 23 per cent, 19 per cent and 18 per cent respectively. Farm-related expenses like purchase of fertiliser ranked fourth at 14 per cent, phone and home upgrades came in fifth at 7 per cent while entertainment like Christmas celebration was sixth.
The Kenyan government said it had raised funding for the National Blood Transfusion Service Unit The Ministry of Health said…
Most Kenyans, 83 per cent, indicated a willingness to increase the amount of money they allocate to savings and investments, but the inability to save due to insufficient funds after fulfilling their obligations that require regular funding and the availability of quick digital loans.
Among their obligations which contribute to Kenyans’ financial strain is supporting their extended family which considerably bites into their savings. 84 per cent of people indicated that they regularly provide some income to their extended family, mostly in case of emergencies, because they feel a sense of obligation to send their extended families money and because their extended family members treat them better when they are sent money.
On their part, the extended family members mostly use the money to cater to recurring expenses like food & transport, school fees and medical expenses at 23 per cent, 19 per cent and 18 per cent respectively. Farm-related expenses like purchase of fertiliser ranked fourth at 14 per cent, phone and home upgrades came in fifth at 7 per cent while entertainment like Christmas celebration was sixth.
Africans and African diaspora across the world commemorated Africa Day on May 25, 2022. The day truly serves to integrate…
Prostate cancer patients covered by the National Hospital Insurance Fund (NHIF) can now access an innovator prescription drug manufactured and…
Stanbic Bank has revealed that it has empowered over 45,000 women entrepreneurs in the last three years Under its DADA…
The Entebbe airport stands to transform Uganda’s movement over time as it advances to become an oil economy alongside Tanzania.
South Africa, one of the wealthiest countries, has the largest road network, 750,000kms, while Tanzania, East Africa’s competitive economy, has more than 86,000km of roads.
In the current economic scenario, where uncertainty brought by economic shocks from the pandemic and political tensions force nations to expand their horizon of influence, the past years have shown why African infrastructures must be robust and conducive to enhancing value creation.
Whoever moves fast and swiftly dominates the economic conversation. South Africa, Kenya, Namibia and Nigeria are among the top African nations with more robust economies.
The Kenyan economy will expand by 4.9 per cent in 2022, according to the NCBA Economic Outlook The figure is…
Mastercard has partnered with the Kenya Tourism Board (KTB) to help the country’s tourism sector rebound to its pre-pandemic level…
Kenya’s Centum Investments has sold its entire equity stake in Sidian Bank Limited to Nigerian lender Access Bank at a…