Introduction on Steps Followed to Register and Operate a Shylock Business in Kenya Introduction on How to Register and Operate a Shylock Business in Kenya Have you considered starting a socially responsible business? For financial services professionals looking to make a positive impact, registering a shylock business in Kenya can be an excellent opportunity. Shylock businesses, also known as money lending services, provide crucial financial solutions to individuals who lack access to traditional banking institutions. This comprehensive guide will walk you through the steps of registering and operating a shylock business in Kenya, along with essential dos and don’ts and…
Author: jeff
How to Start a Shylock Business in Kenya Introduction to Start a Shylock Business in Kenya Many of us have experienced urgent financial needs where obtaining a loan is crucial. However, existing loans, defaults, or being listed on the CRB often restrict access to traditional banking options. Mobile lenders and apps also turn you down if you’re on the CRB list, leaving many Kenyans in a bind. In such situations, the solution often lies in finding someone willing to lend money without scrutinizing your credit history—enter the shylock, or private lender. These lenders require collateral such as electronics or other…
EACC Drops Ksh1.9B Corruption Case Against Ex-Governor Obado and Kin After Ksh235M Settlement Following an out-of-court deal, the Ethics and Anti-Corruption Commission (EACC) has been given permission by the High Court to drop its Ksh1.9 billion asset recovery lawsuit against former Migori Governor Okoth Obado, his children, firms, and a businessman. The parties involved came to a Ksh235 million settlement, according to court filings. Using phony procurement contracts, the EACC had first attempted to recoup about Ksh1.9 billion that it claimed Obado and over 20 other individuals had stolen from the Migori County government. The case’s judge, Justice Esther Maina,…
Comprehensive Guide to Updating Kenya Power Prepaid Meters Kenya Power Launches Free Prepaid Meter Update Exercise Introduction Updating your Kenya Power prepaid meter is a straightforward process that can bring numerous benefits, including improved billing accuracy, enhanced energy management, and increased convenience. This comprehensive guide will walk you through each process step, ensuring you can seamlessly update your meter and enjoy the new system’s advantages. Step-by-Step Guide to Updating Your Prepaid Meter Step 1: Check Eligibility Before beginning the update process, ensure you meet Kenya Power’s eligibility criteria: Step 2: Register for the Update Online Registration In-Person Registration Step 3:…
Lawmakers Vow to Intensify Opposition Against Controversial Finance Bill 2024 Mps Vow to Intensify Opposition Against Controversial Finance Bill 2024 A determined group of lawmakers opposing the Finance Bill 2024 has vowed to keep up the pressure on the government to abandon the contentious tax document. Following a second reading where the bill passed with 204 votes in favour and 115 against, legislators from the Opposition coalition stressed that the fight was far from over. “The battle will continue both here in the House and outside. We are mobilizing Kenyans across all divides for peaceful demonstrations. We will not retreat,…
Collage of Government Chief pathologist Johansen Oduor addressing the media (left) and a body being loaded into a police car. PHOTO HASSAN ADAN ALI
Former Health Cabinet Secretary, Mutahi Kagwe at a previous press briefing PHOTO AFRIC CDC
Phone Prices to Increase by Ksh225 Per Unit as Govt Maintains Eco Levy on Imported Items Following the government’s recent decision on the Eco Levy, prices for certain products are set to increase. The Finance Bill 2024 report states that the levy will be applied to imported finished goods, with smartphones being among the commonly used products affected. According to the initial proposal in the Finance Bill, each smartphone or feature phone (Kabambe) will incur a levy of Ksh225. However, the committee noted that the proposed charges might be reduced to alleviate the burden on Kenyans facing high commodity prices.…
KEPIA Warns Tenants of 25% Rent Increase if Finance Bill 2024 is Passed The Kenya Property Investors Association (KEPIA) has alerted the public about a potential 25% rent increase due to proposed tax hikes in the Finance Bill 2024. This rise will affect residential and commercial tenants alike. KEPIA’s Secretary General, Ephraim Murigu, emphasized that landlords see no other option but to raise rents to manage the escalating costs and reduced rental income. The KEPIA has sounded the alarm regarding the proposed Finance Bill 2024, warning of its potential to significantly increase rents across Kenya. Ephraim Murigu, Secretary General of…
Big Win for Junior Secondary School Teachers: Over 40,000 to Be Permanently Employed Permanent Employment for Junior Secondary School Teachers More than 40,000 Junior Secondary School (JSS) teachers in Kenya will now be employed on permanent and pensionable terms. This announcement was made on Tuesday during a press briefing by the Finance Committee of the National Assembly, following a Kenya Kwanza Parliamentary Group meeting chaired by President William Ruto at State House. Key Meeting Precedes Finance Bill Tabling for Junior Secondary School Teachers The Parliamentary Group meeting was held just hours before the Finance Bill, 2024, was to be presented…