In the contemporary financial landscape, maintaining a clean credit record is paramount for individuals and companies alike, particularly due to the practice of financial institutions, such as banks, Saccos, loan apps, HELB, and M-Pesa, listing defaulters on Credit Reference Bureau (CRB). To facilitate the process of ensuring one’s creditworthiness and resolving any potential issues, here’s […]
The government is making strides to integrate the principles of cooperatives into the primary school curriculum. cooperatives play a vital role in the nation’s investment landscape. Patrick Kilemi, the Principal Secretary of Co-operatives and Micro, Small & Medium Enterprises (MSMEs) Development at the State Department for Cooperatives, announced that the Kenya Professional Cooperators had been […]
When it comes to saving money, it’s essential to choose the right financial instrument that not only keeps your funds safe but also helps them grow over time. In Kenya, two common options for saving money are savings accounts and fixed deposit accounts. While both offer opportunities to earn interest on your savings, they have […]
Dividends serve as a token of appreciation from a company or Sacco to its shareholders, reflecting the distribution of profits accrued. In Kenya, dividends are typically disbursed quarterly, offering shareholders a return on their investment either in cash or reinvested as additional stock. To be eligible for dividends, shareholders must possess the stock before the […]
As the trend of investing and saving in SACCO societies continues to gain momentum in Kenya, it becomes essential for individuals to grasp the fundamental disparities between dividends and interest, two terms often used interchangeably but with distinct meanings and implications. Interest pertains to the earnings accrued by lending money. Whether it’s an individual, entity, […]
Kenyan individuals and households are increasingly turning to Saving and Credit Cooperative Organisations (Saccos) and microfinance banks for loans, rather than commercial banks. This shift is driven by the desire for loans with lower interest rates and more favorable terms, according to data from the Central Bank of Kenya (CBK). In 2023, loans issued by […]
The surge in borrowing activities across Kenya highlights a growing inclination towards loans among its populace. With an array of loan service providers and the convenience of accessing loans within seconds through mobile lending apps, the ease of borrowing has never been more accessible. However, before diving into debt, it’s essential to ponder over several […]
