We have tried to cover all controversial proposals from the Finance Bill 2024 including all that were retained or removed.
Thread below:
—The exemption of the Kenya Revenue Authority (KRA) from Data Protection Act constraints has been revoked.
—There is still a proposal for Introduction of Withholding Tax on Infrastructure Bonds at a a rate of 5% for residents and 15% for non residents
—There is still a proposal for Road Maintenance fee is set to rise from Sh18 to Sh25
Jun 14 • 23 tweets • 4 min read
Analysis of the 2024/25 budget summary shared by the National Treasury.
Thread below:
Kenya's FY 2024/2025 budget size is Sh3.9 trillion, and its overall financing includes projected Sh3.3 trillion in revenue, Sh597 billion in deficit financing and Sh51.8 billion in grants.
Let's dive in key highlights
May 29 • 20 tweets • 2 min read
Finance Bill 2024 proposals thread.
Kenyan's set for a painful year under a brutal new tax regime.
We can only hope that some of these new taxes were put in there as a House of Cards-inspired negotiation tactic.
Let's dive in.
President William Ruto’s administration plans a budget of Sh3.9 trillion starting July, aiming to collect Sh3.35 trillion in taxes.
The fiscal deficit of Sh703 billion will be financed by debt.
May 24 • 11 tweets • 2 min read
Kenya Receives Billions in US Support
Here is the breakdown:
— Sh561 million from the United States for anti-corruption initiatives
— Kenya to receive Sh478 billion agreement with Everstrong Capital LLC for construction of an expressway
Mar 30 • 11 tweets • 3 min read
Another one for the crypto enthusiasts among us.
Here's the latest opportunity to make some easy money.
Binance Launchpools are an interesting crypto opportunity.
You make money just by leaving your crypto savings in the launchpool account for a few days at the end of which you get all your money back plus new tokens which rapidly gain in value when they get listed for trading.
Feb 25 • 12 tweets • 4 min read
Binance Launchpool.
A thread on the easiest way to farm crypto and make some free easy money.
If you're anything like me your eyes probably glaze over whenever you hear anything related to crypto.
Bots have filled Twitter with spam such that it's almost impossible to distinguish what's an opportunity and what's a scam.
This here is an opportunity so pay attention.
Feb 24 • 11 tweets • 4 min read
How to buy and sell crypto in Kenya.
A step-by-step guide
This thread is for those who want to buy some dollars but can't get physical ones at a good price or don't have a USD bank account
USDT is a stable coin version of the US Dollar.
Okay, here we go.
Feb 23 • 11 tweets • 3 min read
USD money market funds (MMF) in Kenya
The thread below covers the top USD MMFs
Kuza USD MMF
Minimum initial investment of $100
Minimum Top-ups of $50
Registration via link ( )
Available on PlayStore as Kuza. Africa
Effective annual yield at 6.2%
Management fee at 2% per annum.client.kuza.africa
Feb 19 • 13 tweets • 3 min read
Ultimate Guide to Saccos in Kenya
Below is everything you need to know.
STIMA DT SACCO
Targets employees in the Energy sector
Sh53.8 billion in assets
177,000 members
12 branches
One-day loan processing
Access salary loans up to Sh3 million
Instant mobile app loans up to Sh120,000
You can borrow up to 5 times your deposit.
Interest rate as low as 1% pm on reducing balance
Has a Shariah-compliant banking system
Low-premium insurance products
Instant Visa ATM cards
M-Stima app is available on Playstore and Appstore
*492# USSD
(Stats based on 2022 FY report)
Feb 2 • 15 tweets • 4 min read
How to invest in USD MMF
A step-by-step guide with screenshots.
A USD MMF is a gets money from many investors and the funds are invested in short-term dollar yielding opportunities.
As with all MMFs the point is that they are easy two withdraw and you can get your money in under 48 hours.
Feb 1 • 18 tweets • 5 min read
How to invest in Treasury Bills (T-Bills)
Here's everything you need to know.
What are Treasury Bills?
Imagine lending money to the government for a few months & earning interest in return. That's what Treasury Bills are!
They're short-term debt instruments issued by the Central Bank of Kenya (CBK) with maturities of 91, 182, or 364 days.
Jan 29 • 29 tweets • 8 min read
The Ultimate guide to Money Market Funds in Kenya
Due to popular demand.
Save this for later.
Kuza's Money Market Fund (MMF)
Minimum investment: Accessible at Sh5,000, lower than some but not the lowest.
Top-up amount: Low barrier to entry with Sh1,000 minimum top-up.
Registration: Online self-registration through a provided link for a seamless experience
Kuza MMF currently offers a yield of around 14.95% nominal, which is competitive within the Kenyan market
Automation: They offer basic automation options for transactions and reinvestments.
Ease of Use: The platform is user-friendly and provides clear information about the fund.
Customer Support: Contact details for customer support are readily available on their websiteclient.kuza.africa:8000
Nov 30, 2023 • 7 tweets • 1 min read
The US government goes after Binance, the world's largest crypto exchange.
Here's what you need to know.
US Government says Binance allowed ISIS, Al Qaeda, and Hamas to transact on its platform.
Binance CEO CZ pleads guilty to violating criminal anti-money laundering requirements.
$1.3 billion in user funds withdrawn from Binance following US Government indictment.
Nov 25, 2023 • 7 tweets • 2 min read
How to get rich from forex. (thread)
To get rich from forex:
Borrow or rent flashy rides. Make lots of content with them. Rent a fancy Airbnb and take lots of trips. Make content.Convince everyone on Instagram of your success from "trading bots". Sell them forex bots for $200 a pop.
Nov 9, 2023 • 14 tweets • 2 min read
A few numbers on The State of the Nation ahead of President Ruto's speech.
The Kenyan Shilling has fallen to a record low of Sh151.3 against the dollar according to the official rate.
On the ground though one expects to pay at least Sh158 for each dollar.
Oct 30, 2023 • 5 tweets • 1 min read
British American Tobacco (BAT) Kenya is paying a minimum of Sh57,800 as basic pay for its unionized staff, making it one of the best-paying companies in Kenya.
More numbers below.
BAT also offers Sh27,500 as leave allowance and a minimum Sh28,800 housing allowance to staff
BAT offers a shift allowance set at a maximum 17% of basic pay.
Sep 30, 2023 • 10 tweets • 3 min read
There's an increasing number of negative feedback to Carrefour Supermarkets.
See below
@wanjilton claims milk she bought from the same brand at Carrefour and her local shop tasted different.
The following thread is a prelude to our forex basics twitter space. It covers the first concepts one need understand before undertaking forex trading.
x.com/i/spaces/1vOxw…
Sep 20, 2023 • 11 tweets • 3 min read
How to invest in money market funds (MMF)
A step-by-step guide with screenshots.
Step 1: Download the SC Mobile App from here: sc.com/ke/investments…
Sep 12, 2023 • 6 tweets • 4 min read
Apple has announced iPhone 15 Pro and iPhone 15 Pro Max
Details below
iPhone 15 pro and pro max now lighter and more durable using grade 5 titanium
Sep 12, 2023 • 4 tweets • 1 min read
Forex for beginners.
This thread covers the question of how long it takes to become proficient at trading and where to start.
Forex is risky. The risk is often not knowing what your doing.
On average, beginners need 6 to 18 months of consistent effort for a solid understanding of Forex trading.
To start you need to commit to dedicating 1-2 hours daily to learning and practice
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