Category: BUSINESS

Putting up a business in Nairobi require a room or office where visitors locate you.Many people would prefer cheap and spacious offices so as to minimize operating costs.

Rental property is among the few lucrative businesses in Nairobi, with property owners raking in millions of shillings every month.There are several office spaces  to rent in Nairobi area,which vary depending on the size and location.Some of the best places to get cheap apartments include Nairobi Westlands,Ngong Road,Mombasa Road,Jogoo Road,Langata Road and Along Thika Road.

Starting and running a successful business in Nairobi depends on the location of your business and the total cost of running the business. However, as much as you would want to minimize operational costs, the business rent will significantly push the total cost up.

As you prepare to look for a suitable office to rent, we give you a rough idea of what you expect in Nairobi
If you want to put up a business, say a single room office in Nairobi CBD, you need at least Ksh 100,000 for good will. This is applicable in places like Biashara Street, University Way, Utalii Lane, Near Ukulima House, Kenyatta Avenue, Moi Avenue, Mama Ngina Street and around Ngara.

The cost of monthly rent varies depending on the street. For Instance, streets with less traffic don’t attract business, and the houses there are cheaper as compared to busy streets. If you don’t have enough cash, you can look for a good office around Utalii Lane, Biashara Street and Ngara.The monthly rent for a single room is around Ksh 35,000-Ksh 50,000 depending on the size.The first month you rent the room you must pay three months deposit plus good will in some cases.

In addition, if you have Ksh 250,000 you can have an office room in Nairobi CBD, the price can significantly reduce if the good will is scrapped.

If you want to have a bigger office near Nairobi CBD with the same price as those in Nairobi CBD, then you can go to Kileleshwa where bedsitters are converted to offices. A single bedsitter can cost Ksh 20,000-Ksh 30,000.

Hoping that you require a bigger office with two rooms in Nairobi CBD, you need at least a monthly rent of between Ksh 50,000-Ksh 80,000.If you are required to pay three months deposit then you require around Ksh 300,000 plus goodwill, totaling to Ksh 400,000

When it comes to business,the town you set it up matters a lot.Before you even set your sight on specific type of business,consider having it in the best towns,one that can promise high profits.

Looking at all the towns in the republic of Kenya,the following are the best places to operate your business.

1. Kisii
Kisii town is located in Western parts of Kenya. Majority of the residents in this town are Kisiis but there are also the Kikuyu, Somali, Luos and few Luhyas.

The town is highly populated ,which makes it one of the best towns to launch a business venture in the country.

Kisiis practice farming; they plant tea, bananas, sugarcane, and maize, which attract buyers from the entire East African region,thus making them one of the richest tribes in the country.

Due to the fact that there is a lot of money circulating in the area, the large population and security, the town is considered ideal for business.

In 2007, this was among the few towns where post-election violence did not occur. Most of the Kikuyu who were affected in Kisumu and western Kenya settled in Kisii town.So, during elections you don’t have to worry about dangers posed by election losers.

2. Nakuru
Nakuru is a cosmopolitan town but dominated by the Kikuyu,Kisii and the Kalenjin communities.

The town is very peaceful and the cost of starting and operating business is not high like many other towns in Kenya.

One of the most attractive features of the town is that it’s located between Nairobi and Western Kenya,implying that your business will be accessible by people from both regions .

Nakuru has also Lake Nakuru National Park where thousands of tourists visit every day, they can be your customers.

3. Narok

This is one town which is underestimated ,but very ideal for business. The town is very attractive especially in terms of the cost of starting business.

Narok is also a place where most buses and matatus which ply along the Nairobi-Kisii route make stops for meals.

The town is also near  Maasai Mara game reserve, which attracts thousands of tourists annually with millions of dollars.

You won’t go wrong by opening a hotel,Mpesa shop,tour guide company,a salon or a pub.

4. Mtwapa
This small town in the famous Coastal city is the most visited town in Kenya by tourists. Though the town is small, a lot of money circulates here.

If you intend to start business then consider Mtwapa as your first priority.

5. Thika
Thika is in the outskirts of Nairobi and is one of the fastest growing towns in Kenya.

Though starting business in Thika town can be a bit expensive, profits are guaranteed.

It is highly populated, and due to the fact that the Thika super High way passes through this town ,it is regarded as one of the most ideal for business.

5.Nairobi

Nairobi has estimated population of 5 million and most of these people are employed.Since it’s the capital city of Kenya,most companies are located there.

Starting business in Nairobi is hard but if you have at least Ksh 100,000 you can start small and grow with time.

There are so many opportunities in Nairobi for entrepreneurs who are aggressive enough to attract customers to their business.

6.Busia

Busia town is situated very close to Uganda border and it’s among the busiest towns in Kenya.

Since it’s bordering Kenya and Uganda,there is unending movement of people withing the border thus providing opportunities for business.

7.Malindi

The influx of tourist to the town is enough to make any business oriented individual consider setting up a business venture in the area.Recreation facilities,hotels and pubs are among the best businesses to set up in Malindi town.

Flamboyant Nairobi Senator Mike Sonko is a man of means, adored by the youths as well as politicians who want okoa jahazi from the mheshimiwa. He is among the richest politicians in Kenya,whose wealth has surprised many.He gives hand outs to whoever needs his help without showing signss of being broke.His wealth has always raised questions,with many people believing he engages in drug business.

Before Sonko joined politics ,no one knew that the youthful politician used to exist. He first came to the limelight when his bank account was frozen with Sh 80 million by the central bank. The money was reportedly sent from abroad for Sonko’s campaigns. The incident made the Senator cry uncontrollably as he begged the government to release the money.

Sonko lives in Runda where he pays monthly rent of over Sh 200,000.He has children in expensive schools, he drives expensive cars, he has over 10 security officers manning his gate as well as making sure he is safe.You all know the Sonko rescue team which was disbanded recently. The whole team had a monthly budget of over Sh 20 million.

Sonko lives large, spending is in his blood. He has adopted over three kids, who are schooling under his name. All these things require cash, not a joke. A question many Kenyans are asking, where does Sonko get money to sustain his lifestyle as well as feed the community?

There are many theories that try to justify that the Senator’s money is not genuine. However, we can confidently say that his wealth can be accounted for.

In 1990, when most of us didn’t know what business entails, Sonko had already made a million from buying and selling plots. We can confirm that he has several rental properties in Mombasa, Lamu and Nairobi which gives him millions of shillings each month.

Before he became the Senator, he used to have 7 matatus in Nairobi; right now he has over 30 matatus plying on several routes in Nairobi.

Sonko has several plots in Nairobi, Mombasa and Lamu. If he decides to sell a single plot in lamu; he can make a whooping Sh 100 million. He also has several pubs in Nairobi.

His assets are scattered all over, we can’t mention all. Instead of doubting where he gets money from, wake up from slumber and make yours.

A compliance certificate is obtained from helb offices at Anniversary towers once an individual has completed paying helb loan.Nowadays,it’s hard to get some jobs without having cleared from helb.This certificate is a document that you present to employer to show that helb have recovered their loan from you.The process of getting a compliance certificate is as follows.

Visit helb offices at Anniversary Towers ground floor where you will be issued with a form to fill your details.

The following documents are required:
If you were NOT A BENEFICIARY of Government of Kenya/ HELB university education sponsorship scheme, please provide the following:
• Duly filled Enquiry Form
• Letter by the applicant confirming they did not benefit from MOE/HELB Loan
• Copy of your high school examination certificate
• University/College transcripts and Graduation certificate
• Copy of national ID (both sides)
• Employer appointment letter
• A bank slip of Ksh.1000 paid to
HELB OPERATIONS
ACCOUNT No. 1104 823 047
KCB UNIVERSITY WAY BRANCH
NB:
ONLY the NAME and ID NO of the applicant should be indicated on the deposit slip
There are no any other charges for this service.

Note: Ensure that you are paying your helb loan if you were a beneficiary before you go for a Certificate of Compliance.
Loan defaulters are required to pay a penalty of Ksh 5,000 monthly.

Starting business near universities,colleges,schools and other training institutions in Kenya is one of the best business ideas entrepreneurs can dream of.Students have money and are willing to by from whoever has what they need at the moment.

University students are full of appetite and they have no Doctors’ instructions regarding the type of food to eat. What is provided in a fast food restaurant is their most preferred food.

Opening a fast food restaurant will provide opportunity to slice some pocket money form the ever active college students.

If you have ever had a thought of opening a fast food restaurant then set it up near a college.However,your business will suffer when the college is not in session, but that should not worry you since the profits you will make when they are in session will be enough to compensate for the losses.

2. Bar + general hotel
You can either decide to open a bar or a general hotel where you will serve student lunch and supper. If you are clever enough, go ahead and open both in one roof.

3. Cyber Café+Photocopy+Printer+Scanner
This is the kind of business you should think of opening near a training institutions before thinking of any other business. Students like photocopying and printing notes and other course work materials. If you have such a business then you’d be assured of regular customers.

4. Boutique/Fashion Shop
College students are sensitive to fashion, they’ll do everything to impress. If you open a boutique near a training institution, you’ll definitely draw a number to your shop.

5. Salon & Barber Shop
Women will obvious make their hair to look attractive; men on the other hand must cut their hair short. Having a Salon and a Kinyozi near the institution will solve their problem as well as make reasonable profits.

6. Build Hostels
Most Universities and colleges don’t provide accommodation for students. As an entrepreneur, you could breach the gap by building affordable hostels for students and good houses for teachers.

7.A gym

Several university and college students will definitely come in numbers.Even lecturers and people who live around would come for physical fitness.

8.Boda boda business

You will definitely make a lot of money from this business.I am sure you know how lucrative this business is.

 

There are a number of ways to buy tokens from Kenya power. The most commonly used is through M-Pesa Pre-Paid services. Others include; through bank,Airtel Money,Cash payment, Postal corporation of Kenya,ATM payments, Cash payments, and bill payment through M-Banking.

The following are steps to follow when buying Electricity tokens through Airtel Money or M-Pesa.

Paying your Electricity Bill with M-Pesa (Safaricom)
1. Select “Pay Bill” from the M-Pesa menu.
2. Enter the Kenya Power business number 888 888.
3. Enter your full Kenya Power account number e.g. 123456-01.
4. Enter the amount you wish to pay which should be between Shs. 100 and Shs.35, 000.
5. Enter your M-Pesa PIN.
6. Confirm that all details are correct.
7. You will receive a confirmation of the transaction via SMS.

It takes 48 hours for Kenya Power to update your account.

Paying your Electricity Bill with Airtel Money (Airtel)
1. Select ”Airtel Money” from the menu.
2. Click on “Make Payments”.
3. Select “Paybill”.
4. Choose Kenya Power Bill for postpaid bill OR Kenya Power Prepaid for purchase of tokens.
5. Enter the amount you wish to pay.
6. Enter your Airtel Money PIN.
5. Under the reference option, type your full Kenya Power account number e.g. 123456-01.6. Confirm that all details are correct.
7. You will receive a confirmation of the transaction via SMS.

The transaction takes 24 hours to be updated.

You can check your Kenya Power bill by sending the first part of your account number e.g. 123456 by SMS to 95551.

Best Time to pay Electricity Pre-paid bill through M-Pesa

Sometimes customers complain that purchasing electricity tokens disappoint them. They argue that you can buy tokens worth Sh 1000 today and when you buy tokens for the same amount tomorrow you don’t receive the same number of units.

The difference in the number of units arises from the fixed amount KPLC charges and also the time of the month you purchase the tokens. If you purchase tokens when people are earning salaries, then be sure to pay more but if you buy in the middle of the month you will be given more units.

Making money through Facebook,Twitter and Instagram is the best thing to happen to any person with entrepreneurial mind.You can make up to $1,000 daily from you Facebook Page,Instagram or Twitter.But this depends on the techniques you employ.

Social media has become part of people’s lives. Over 3 billion people around the world use social media each day to communicate with loved ones and also get informed on the current affair.

With the ever increasing number of social media users, entrepreneurial opportunities are created for anyone keen enough to exploit them. Such opportunities are numerous and several people have earned millions of dollars through cleverly coming up with innovative ideas which attract money.

The following are ways of making quick money through Facebook, Twitter and Instagram

1. Administering Facebook/Twitter/Instagram Pages for Celebrities/Politicians/Popular personalities/Companies
It’s hard for any popular personality or a company to keep updating the public on social media about current affairs in their organizations since management does not have time on their disposal. As a Social Media Expert, you can approach such a company and request them for such services.

If you have a Facebook account with huge fan page that could provide ground for negotiations.

Politicians also strive to remain relevant all the time, so having a social media page helps them connect with young people to increase popularity. Since these people are busy, they won’t get time to operate their Facebook or Twitter Pages. This is a wonderful opportunity for you.

Running a Facebook Page for companies and popular personalities will earn you decent income.

2. Starting Facebook /Instagram/Twitter Pages and selling them to companies once they get popular
Start a page with a unique name, and then identify a new company which is desperate to grow. Negotiate the price based on the number of likes and make a kill.

3. Advertise products on your Page
If your Facebook and Twitter pages are run professionally, you will find several people and companies requesting to advertise products on your page. The more the page grows the more it gets recognition.

If a company approaches you for advertisement services, charge them on daily basis and you will smile all the way to the bank.

4. Use your Pages to advertise your professional services
If you are a professional photographer Instagram will provide a wonderful opportunity to showcase your talent. People will notice your skills and come for your services.

Facebook and Twitter can also give people opportunities to recognize your work and contact you for services. You can use the platforms to market your blogs and websites because this is the only way people will know that you exist.

A passport is a very important document since it can be used to process documents as well as travel outside the country.The process of replacing one is very simple,and here is how it goes.
Replacement of an expired/mutilated passport – Requirements

1. A duly filled passport application form (download the form here).
2. The expired, filled up or mutilated passport being replaced and its copy.
3. Three coloured passport size photographs of the applicant. One of the photos must be certified by the person recommending the applicant.
4. A certified copy of the ID of the person recommending.

Replacement of a lost passport – Requirements
1. A duly filled passport application form (download the form here).
2. Original Birth Certificate of the applicant.
3. Three coloured passport size photographs of the applicant. One of the photos must be certified by the person recommending the applicant.
4. A certified copy of the ID of the person recommending.
5. An affidavit detailing the circumstances under which the loss of the passport occurred.
6. A Kenya police abstract.
7. A letter explaining the circumstances of the loss of the passport.
Fees

Expired/filled up passport
A series: 32 pages – Sh. 4,500
B series: 48 pages – Sh. 6,000
C series: 64 pages – Sh. 7,500
Lost passport
Sh. 12,000 (payable by Banker’s cheque)
Mutilated passport
Sh. 10,000 (payable by Banker’s cheque)

NOTE: The fees charged for renewal may vary from time to time.

Narok town is growing at a very high rate as tourists and Kenyans continue making it their preferred town.

Unlike most towns in Kenya, prices for rental houses are very cheap, in fact that’s not something that can make someone have sleepless nights.

So many people wish to live here but they are constrained by their employers who are reluctant to transfer them to the popular town.

If you are one of those who are lucky to move to Narok and wondering about the rental prices, you can always visit our website for updates or inquire from us.

When we last toured the town one week ago, we realized that the rent for a single room ranges from Ksh1.500 to Ksh3, 000.the rent for a bedsitter was between Ksh 3,500 to Ksh 5,000 while a one bedroom goes for Ksh 6,000 to Ksh 9,000.A two bedroom house ranges between Ksh 11,000 to Ksh 16,000.

Rent in this town does not increase regularly. We therefore expect it to stagnate for the next two year or increase slightly-maybe Ksh 500.

When you are looking for a house in Narok, you better settle where the owner is the one collecting rent because agents can be troublesome.

Getting treatment in the best hospitals in Kenya is paramount especially if you want services like delivery,cancer treatment,diabetes and many diseases that need attention.

There are hospitals,according to patients,that have a very good reputation.Where you can receive the best treatment,best services and pay less for excellent services.

Sometimes you can be very sick and in need of urgent medical treatment but when you approach a clinic or hospital, you are turned away because you don’t have cash. These cases are very common in Nairobi and its environs.

A good hospital is one which can admit a patient without necessarily demanding money before treatment. It should also provide the best attention to the patient.

Following research we conducted over the past 6 months, we came up with the following list:
1. Kenyatta National Hospital
2. The Mater Hospital
3. Nairobi Women’s Hospital
4. Getrude’s Children Hospital
5. MP Shah Hospital
6. Aga Khan Hospital
7. Avenue Clinic
8. Karen Hospital
9. Mbagathi District Hospital
10. Nairobi west Hospital
11. Coptic Hospital
12. Guru Nanak Hospital

Kenyans will no longer send money to wrong people through the popular mobile money transfer M-Pesa.This is a relief to many Kenyans who have lost millions of money through M-Pesa service.

On Thursday, Safaricom introduced a new functionality dubbed Hakikisha, where customers are given option of confirming the name of the recipient before sending the money. This option will give the customer 15 seconds to approve or reject the transaction after which the money is wired to the recipient

Previously, customers had to call Safaricom Customer Care to get assistance after sending money to the wrong people. Sometimes the recipient could rush to withdraw the cash and stop using the line, leaving the sender in stress.

Safaricom also confirmed that the new feature will apply to Lipa na M-Pesa, which is a popular mode of paying for goods and services and also payment of bills.

It is not a secret anymore that the Kenyan Government, led by Uhuru Kenyatta and William Ruto, is swimming in a serious cash crisis.

Details have emerged that almost all ministries and County governments are piling up pressure on the treasury to release funds to pay angry workers. Even the Kenyan Parliament is also experiencing liquidity problems, where even Kenya Power was forced to cut off electricity supply to the building. The situation is so worse that even the usual tea, which the MPs enjoy, is no more.

Uhuru’s government has been accused of poor spending habits and lack of proper monetary policy to cushion the ever increasing interest rates and poor performance of the Kenyan Shilling against major currencies.

In 2014, the Government went for Eurobond which was meant to reduce the interest rates, prevent external borrowing and strengthen the performance of the shilling in the forex market. However, one year down the line, nothing has changed; in fact everything is becoming worse as the central Bank and Treasure run out of ideas.

We are in a situation where the country will not be allowed to borrow from traditional lenders because what Uhuru’s Government has borrowed has surpassed the borrowing ceiling. The Government has now resorted to borrowing from local banks with huge interest rates.

It’s increasingly becoming hard to sustain the wage bill, which the Government claims take up to 52 percent of the National budget. The creation of the 47 counties is straining the ailing government and there are suggestions that the country go into a referendum to reduce the counties from 47 to 24.

If nothing is done, then Kenyans will be forced to pay more taxes to cover the Sh 600 billion deficits the government is currently facing. This will come, particularly from Value Added Tax (VAT), which currently stands at 16 percent. The income tax and PAYE may not be spared either.

Kenyans should brace themselves for hard times ahead as the Government lay ground for the proposed new taxes. According to the treasury, the new VAT will be 22 percent up from 16 percent and PAYE is also expected to increase by 2 percent. The highest paid employee in Kenya pays a tax of 30 percent, meaning that those in this bracket will be deducted 32 percent from their gross salaries.

The best thing about having a registered company in Kenya is that you can secure tenders running into millions of shillings.You can register sole proprietor business,partnership or limited company with ease in Kenya.

Sole Proprietorship is a business that is registered and run by a single individual. It allows one to earn all the profits. Partnership on the other hand is a business that is registered, run and controlled by more than one individual. In partnership, profits are shared based on the agreement made on the Partnership deed.

Registering a sole proprietorship business in Kenya only requires an individual to present the company name and personal details to the company registrar whereas registering a partnership requires a detailed partnership deed which shows how the partners will distribute profits and losses and how they will share their assets in case of dissolution. It also shows procedure to be followed in case one of the partners decides to leave the company.

One issue that most entrepreneurs are not aware of is that when you want to register a company, ensure that you make a wise decision on the specific type of a company to register. For Instance, a sole proprietorship company is easy to start and operate but one disadvantage is that the company is not provided with KRA Pin; instead one is allowed to use a personal pin.

By not being provided with a company pin, you are limited on the type of tenders to apply for. Most advertised tenders require a company pin and not a personal one. This is where a sole proprietorship will let you down.

A partnership on the other hand is the best to register because a company Pin is provided. This will enable you to apply for any type of tender without restrictions.

As you register a Partnership company in Kenya, make sure you obtain a pin from KRA i-Tax system; it takes few minutes to get your pin. This will enable you apply for tenders and also successfully fill tax return forms.

As for Sole Proprietorship, you will use the personal pin that you always use to obtain your salary and other taxable revenues.

Remember, in order to continue applying for tenders, you must fill tax returns annually even if you made zero profits. Failure to do so will make you tax non-compliant, which will automatically disqualify you from winning any tender.

Chicken farming has become one of the best alternative’s to white collar jobs in Kenya, with many youths opting to start the business than wait to knock a thousand offices for employment.Poultry farming is dominated by chicken rearing in Kenya.This article focuses on chicken rearing and profits generated from the industry.

It all starts when you have a simple idea of only keeping a single chicken which you got as a present from your grandmother. After 12 months, you realize that it has grown so big and the surrounding is in need of one, you then decide to sell it for Sh 500.After thinking for a while, you buy two small chicks with the Sh 500,one at Ksh 100.Then keep them for three months and sell them at Ksh 500 each. This gives you hope that you could be the next Steve Jobs.

One morning, you decide to ask your father for assistance. As a parent he decides not to disappoint you, after all he has supported you ever since you were zero years.After revealing to him about the idea, he nodes and promises to give you a concrete answer in two hours’ time.

After exactly two hours, he comes with the Ksh 20,000 you asked for and he warns you against misusing the money he has toiled for for several years. The following morning you decide to purchase 100 chickens at Ksh 100.After 3 months, you sell them at Ksh 300 each. Making a cool Ksh 20,000.This is how business starts, we call it the power of entrepreneurship.

I had a chance to rear chicken in Mombasa in the year 2000 and from the experience I got, I must admit that the industry is swimming in money.

Chicken rearing is a lucrative business in Kenya, one of the few businesses where the owner is guaranteed profits. It doesn’t matter where one sets up the business, what matters is whether the chicken will mature for the market.

On average, chicken take 5 weeks to mature in Kenya-but the traditional ones take at least 3 months. It implies that if you buy your chicken today, you will wait for exactly one month to cash o them.

The secret to making good money from chicken rearing in Kenya is to keep at least 1000 at a time. This will assure you at least a profit of Ksh 50,000 per month.

One of the challenges of chicken rearing is that you must always be available to provide food at least thrice a day and also give them water at least twice a day.

Another challenge is that if there is an outbreak, you might lose a significant number of your precious chicken if you don’t use appropriate drugs.

All in all, no business lack risks, in fact businesses with good returns have the most serious risks, chicken rearing being among them.

In order to start chicken rearing business in Kenya, you require a capital of at least Ksh 5,000 if it’s small scale and Ksh 100,000 if it’s large scale.

Don’t fear to try even if it’s obvious you’ll fail, even if you’ll fail it you will learn something that could make you even better next time.

There are over 50 business ventures you can start and run in Kisii with good returns.Since the town is located at the heart of Western Kenya,it draws huge population mainly from Bomet,Luo Nyanza and Luhya.

The town has several millionaires whose main source of income is running businesses.Due to the large number of people in the town,Kisii is ranked among the best towns to start business in Kenya.

It is situated in Western parts of Kenya and it’s one of the most populous towns in the country.

The town has grown tremendously over the past five years, becoming one of the fastest growing towns in the great republic of Kenya. The population is predominantly Kisiis with a significant number of Kikuyu, Luhya, Somali and Luo communities.

The town is congested and the second busiest towns in Kenya after Nairobi City. It supplies almost the entire country with food stuffs, thus making it the fourth most visited towns in the country.

The following are the most suitable business to start in Kisii town:

1. MPESA SHOP
The population that visit Kisii town is huge, and all these people don’t just idle in town but conduct several transactions.MPESA shop will not be a bad idea even if the town has several of such.

You can own more than one MPESA shop within the town since every street is busy, thus diversifying source of revenue.

2. Bodaboda/Motorcycle Spare Parts Shop
The number of Boda Boda in Kisii town is almost equal to the number of people in the town. They have made the town so congested that even the Governor James Ongwae is looking for ways of decongesting the town.

As an entrepreneur, you are only interested in business and not what will happen with the boda boda operators.If you open a Motorcycle business in the town; you could smile all the way to the bank.

3. Hotel/Restaurant
Very few hotels dominate the town despite the financial prowess the town boasts of. Since Kisiis don’t discriminate in terms of tribe when purchasing goods, this is the most ideal place for any tribe to put up a business.

Hotel is ideal because the town is very busy with several Kisii University students roaming freely within the town all day long.

4. Bar
If you want to know that a town is growing just move around to see how many pubs exist with guest houses.houses. Kisii is one of those towns where resident love having good times after work.

Also, since many people travel from various parts of the country to buy food stuffs like sugar cane, bananas and maize, guest houses will greatly increase chances of your pub making a kill.

5. Rental Houses
Kisii Town seriously lack good rental houses. People end up living in places like Keumbu due to lack of houses to rent in the town. If you have money, then build rental houses and you won’t regret.

6. Car Wash
The number of vehicles in the town is growing each day thus stretching the few car washes in town beyond limit. Having a car wash business in mind won’t be a bad idea.

One of the advantages of owning a Car wash is that water is in plenty and rain is the order of the day.

7.Farming

Farming is the main economic activity of the Kisii people.The place is extremely fertile due to frequent rains,making it possible for farming to thrive.

This is one area where one can specialize and become a millionaire.

 

Uchumi Supermarket has finally exited the Uganda and Tanzania markets after posting a series of poor results over the past three years.

The decision to close down the branches was reached after the management in the company developed an ambitious strategy to reorganize the ailing chain store in a bid to start posting profits.

Confirming the latest developments, Uchumi Chief Executive Officer Julius Kipngetich said that the Capital Markets Authority and the Nairobi Securities Exchange as well as other stake holders have been informed of the decision, adding that soon the company will seek approval from shareholders to implement the decision.

Kipngetich, who succeeded Jonathan Ciano two months ago, has a huge task ahead of him to restore investor confidence and turn round the company’s performance within the shortest time possible. He is a good manager-from Kenya Wildlife Service and Equity Bank-and if his fat CV is anything to go by then Kenyans will have nothing to worry about.

Imperial Bank Uganda has been put under receivership following closure of Imperial Bank in Kenya.
On Tuesday, Central Bank of Kenya put imperial Bank under receivership for what it termed as unfavorable conditions. The Bank of Uganda had to follow suit in order to protect customers and ensure that the financial institution meets the set out conditions.

“The decision has been taken following the suspension by the Central Bank of Kenya of the operations of Imperial Bank Ltd, who are the majority shareholder of Imperial Bank Uganda Ltd,” reads a statement from BoU.

The move has seen Capital Market Authority to direct Nairobi Securities Exchange to immediately suspend the introduction of the listing and trading of the Corporate Bond issued by Imperial Bank.

The latest move has sent shock waves to investors as well as customers of Imperial Bank as they fear for the worst.

However, CBK has appointed Kenya Deposit Insurance Corporation (KDIC) as the manager for the lender for twelve months. The body will ensure smooth running of the financial institution until all the conditions are met.

This is the second Kenyan bank to face closure in a span of 2 months. In August, Dubai Bank was placed under receivership for engaging in financial malpractices.

Many people wonder how comes they are not rich yet they have all it takes to become another Bill Gates. One thing that they don’t know is that self-discipline heavily contributes to one’s success.

We have seen a number of professionals who earn same salary yet one of them performs better than workmates. This is significantly contributed by better financial planning and self-discipline.

This article describes basic things that most people do without realizing their long term consequences.

1. Having more than one spouse

A number of professionals find themselves in a trap which is hard to escape when they start earning. When money starts flowing, so many of them start noticing beautiful women who don’t resist once approached because they know you have money.

You find yourself having even five girlfriends and all of them depend on you for financial support. This is where you end up wasting 10 years without saving and at the end of the day you don’t marry any of your girlfriends.

2. Poor spending habits

So many people become over excited when they earn their salaries. They will go to malls/supermarkets and buy things which are not necessary thus wasting money which could be used to start a project.

Sometimes you are carried away when you are celebrating a game on a weekend and order everyone a drink, at the end of the day, you have consumed your whole salary on alcohol. It’s not bad to buy people drinks, but have some limits. Even some of the people you buy drinks are not genuine friends; they are there to please you so that your pocket can leak and later laugh at you when you have nothing.

3. Not implementing ideas in time

Sometimes you might have a very good idea, maybe you have obtained a loan and you want to start a small business.

Then you start dragging and using simple excuses to postpone the idea. After six months you realize that you have done nothing but you have spent some money on supporting relatives, changing lifestyle and buying expensive gadgets.

The moment you think of a good idea, ensure you don’t waste time in having it work, unless you are planning to regret in future.

4. Taking many loans

Loans are good and they have helped many entrepreneurs start successful businesses, but you should be careful how, where and why you are taking a loan.

Banks are there to make money and they will sweet talk you into taking soft loans to keep you going, you will always have a habit of taking salary advance, soft loans and other loans without having clear ambitions. Repaying these loans might drag you behind, leave you with nothing and sometimes drive you into depression.

Have a clear plan of what you intend to do with a loan before you finally settle on taking one. If you are not planning to initiate income generating project then buy real property which appreciates in value with time.

5. Alcohol
A lot of many people’s careers have ended because of alcohol!

Once someone is addicted to alcohol they become very irresponsible that they can even forget about their families.

Some alcohol is not bad but when it starts consuming more than a quarter of your salary then you are about to welcome poverty.

6. Living beyond your means

This is a very bad disease for people who are employed throughout the world. Many of them try to copy what their friends are doing: if a friend has bought a car, you also want to acquire one so that you can be at par, if he is paying a rent of Ksh 60,000, you also move to a house in that range. We call this a rat race where you are chasing something that you cannot achieve.

Don’t buy what can make you strain and even end up developing chronic diseases. You were born alone, so live your life no matter what people say about you; they must say anyway.

7. Not giving yourself first priority

You secure a nice job in a popular city and barely 3 months to employment, your aunt confirms to you that her child has been chased out of school and they don’t have money. Since you are a Christian, you clear the fees. The following weeks, two of your brothers are chased out of school and since they are brothers you also clear their school fees. The cycle continues until you end up helping the entire community.

Ten years down the line, the whole village is singing your name but looking at what you have achieved for yourself, nothing!

Before you decide to help as many people as your heart tells you, ensure you help yourself first. Don’t sympathize too much until you forget you have life.

Githurai is one of the many Estates in Nairobi which accommodates more than 20,000 people and visited by over 10,000 people per day.There are several apartments in Githurai whose houses are single rooms,bedsitters,one bedroom and two bedrooms.

Most people prefer living in Githurai because houses are very cheap and it’s just next to Thika Super Highway.Githurai is also one of the rare estates in Nairobi where you can find all kinds of food cheaply regardless of the season, thanks to the ever busy market within the town.

Who should live in Githurai?
I spent some time in Githurai and I can comfortably attest that the Estate is not only pocket friendly but also convenient for people working anywhere within Nairobi.

A single room in Githurai costs between Ksh 3,500-Ksh 5, 000.However, you can get a house which is even cheaper if you move to the interior parts of the town. When it comes to a bedsitter, you can get one for between Ksh 5,000-Ksh8, 000 and one bedroom for Ksh 7,500-Ksh 14,000.

Someone may wonder why we have not mentioned two or three bedroom houses. Since the Estate attracts low and middle income earners, developers don’t bother building two bedroom houses because they are not pocket friendly.

Single rooms and bedsitters are hot cakes, particularly for people who arrive in Nairobi for the first time to start life. Also, several Kenyatta University (KU) students live in Githurai, thus making bedsitters and single rooms ideal for them.

If you have first set foot in Nirobi, Githurai would be ideal place to start life as you ponder on your next move. If you intend to join Kenyatta University; you can also find a room at Githurai.

When it comes to transport, you don’t need to worry because there are several buses which ply Nairobi-Githurai route (Number 45).These buses charge Ksh 50-Ksh80 during peak hours and as little as Ksh 10 during off peak hours. If you will be commuting to KU then Ksh 20 is enough for the day.

NHIF Revised member contribution rates.The NHIF new rates affect those employed by government,private institution and unemployed Kenyans.

The rates are categorized by various monthly income brackets.

Gross Income (Kshs) Monthly Premium (Kshs)

0-5,999     150
6,000 –    7,999 300
8,000 –   11,999 400
12,000 – 14,999 500
15,000 – 19,999 600
20,000 – 24,999 750
25,000 – 29,999 850
30,000 – 34,999 900
35,000 – 39,999 950
40,000 – 44,999 1,000
45,000 – 49,999 1,100
50,000 – 59,999 1,200
60,000 – 69,999 1,300
70,000 – 79,999 1,400
80,000 – 89,999 1,500
90,000 – 99,999 1,600
100,000 and above 1,700
Self Employed (special) 500

Deductions are mandatory to those who are salaried.