Below are some shocking numbers from Uber Kenya's economic report released today.
Uber's first Kenya Economic Impact Report shows an impressive Sh14.1 billion contribution to the economy.
This includes support for local businesses, drivers, and consumers through mobility and delivery services.
Nov 20 • 6 tweets • 2 min read
If you are young and looking for a good savings app check out YEA app from Co-op bank.
Let's dive in.
The key problem with savings apps is that they are not attached to banks thus you don't get higher limits on loans from using them.
The key problem of banking apps is that they are clunky and built for older generations.
There's now a solution that addresses both problems.
Nov 13 • 6 tweets • 2 min read
Below are some of the amazing threads we've made about crypto.
Bolt has announced a Sh14 billion commitment over the next three years to improve safety for users in Kenya.
The initiative is part of the company’s wider global effort to raise safety standards in ride-hailing.
More details below:
The funds will be used to raise awareness of Bolt’s safety features and scale up preventative measures to help reduce incidents before they happen.
Nov 2 • 11 tweets • 2 min read
The government plans to restore some of the tax measures it scrapped from the controversial Finance Bill 2024, which was repealed following public uproar, through three bills.
More details below:
The government plans to restore some tax measures from the Finance Bill 2024, aiming to address the fiscal deficit.
The proposals are classified into 3 bills:
—Tax Laws (Amendment) Bill
—Tax Procedures (Amendment) Bill
—Public Finance Management (Amendment) Bill.
Now lets dive into each;
Oct 30 • 8 tweets • 1 min read
Workers are in painful circumstances as their pay slips continues to decrease due to increased contributions i.e new levies such as SHIF,Housing Levy etc
Here’s a thread comparing payslips between 2022 and 2024.
Let's start with SHIF deductions for salary payslips between October 2022 and October 2024.
The SHIF is set to deduct at 2.75% of gross salary
If you had invested Sh100,000 at the start of January 2024, here’s how your potential earnings would stack up across different assets, such as Bitcoin, saccos, and MMFs, up to now.
Thread below:
Let's start now with Bitcoin.
As it stands, Bitcoin is up 58% against the USD and 29.5% against the Kenyan Shilling so far this year.
If you had invested Sh100,000 in Bitcoin at the start of January, you will be worth approximately Sh129,500
Oct 28 • 8 tweets • 2 min read
At least 8 Kenya Kwanza projects are under scrutiny for conflicts of interest, with some directly benefiting President Ruto’s family, according to Daily nation.
Here’s a breakdown of the projects and figures involved:
President Ruto's Weston Hotel secured 37 tenders worth Sh57.9 million—the highest number awarded to a single entity published on the public procurement portal
Oct 22 • 10 tweets • 2 min read
The Treasury is under fire for awarding contracts worth Sh437 billion to companies tied to Adani Group without public oversight.
The deals were made using a rarely invoked law, raising concerns about transparency.
Thread below:
The Public Procurement and Disposal Act (2007) was supposed to stop corruption in Kenya's tender processes.
Yet a loophole in the law is now being exploited to hand out billions in contracts without transparency.
Oct 13 • 11 tweets • 2 min read
Kenya's Sh96 billion energy deal with Adani raises concerns over costs.
Ketraco estimated the projects at Sh61.2 billion, but Adani’s proposal is Sh33.5 billion higher.
Why the big difference?
Thread below:
Kenya's Sh96 billion energy deal with Adani is raising significant concerns over costs and transparency.
The project aims to build 3 transmission lines and 2 substations, but the cost estimates have raised eyebrows.
Oct 8 • 22 tweets • 3 min read
Here are the detailed responses from DP Rigathi Gachagua regarding the 22 companies alleged to be involved in money laundering, corruption, and influence peddling.
Thread below:
Rigathi Gachagua Foundation:
He said that the company was incorporated in 2022 as a non-profit to uplift the less privileged.
He said it has not traded and has received Sh12 million for public service.
Oct 2 • 10 tweets • 4 min read
Adventures in crypto.
How to make money with Binance's copy trading.
Thread below.
Copy Trading enables you to make money without needing to learn all the ins and outs of trading yourself.
Binance Copy Trading feature lets users replicate the trades of experienced traders, making it easier for beginners to enter the crypto market.
Sep 23 • 7 tweets • 2 min read
Another one for the crypto enthusiasts.
Binance has a new launchpool for and here's how to make some money with it.
Details below for the HMSTR launch:
The opportunity is simple.
Keep $BNB in Binance Launchpool for about 2 days and get some $HMSTR as a free reward.
Its the native coin of Hamster Kombat,a crypto exchange CEO simulator P2E game built on Telegram mini-app platform
More details below:
Sep 23 • 11 tweets • 1 min read
The process of allowing Adani Group to upgrade and run JKIA contradicted the government’s own report.
This decision could burden taxpayers with over Sh25 billion.
Here is the comparison of ALG and Adani proposals for JKIA expansion in the thread below:
Investment Amount:
ALG: Proposes an investment of Sh211 billion.
Adani: Proposes a higher investment of Sh238 billion.
Sep 22 • 25 tweets • 3 min read
How to Check if Your SACCO in Kenya is Financially Stable
This thread below will cover some financial ratios using data from the top SACCOs based on the 2023 report, comparing them with these key standards
Save this later:
Let's start with some of the requirements to assess your SACCO's financial stability by comparing its financial ratios with the following prescribed standards:
—Core Capital to Total Assets (CCA): Minimum 10%
—Core Capital to Total Deposits (CCD): Minimum 8%
—Institutional Capital to Total Assets (ICA): Minimum 8%
—External Borrowing to Total Assets: Maximum 25%
Sep 11 • 13 tweets • 2 min read
We have managed to uncover some of the shocking terms in the agreement with Adani Airport Holdings Ltd.
Thread below.
Share it widely:
The agreement with Adani Airport Holdings Ltd specifies that any interruptions due to court actions, parliamentary decisions, or protests will require Adani to be compensated for both losses and anticipated profits.
Disputes will be resolved through international arbitration in London, with hearings held in Mauritius
Sep 4 • 12 tweets • 5 min read
How to buy Kenyan stocks.
If you have no idea where to start this step-by-step guide will show you how exactly to buy Kenyan stocks such as Safaricom, KCB, Equity, Co-op, Kakuzi, etc
Thread below. Save for later.
To buy or sell in the Kenyan stock market, you need to open a CDS account
A CDS account is where your stocks are held and transferred from by your stock broker.
A CDS account is created for you once you sign up. If you already have one from a previous broker you can use it.
Aug 10 • 16 tweets • 3 min read
Here is a thread explaining the University Funding Model, including how it works, how much each family should contribute, and the key considerations involved
Save the thread below:
153,000 students are expected to be allocated to different universities this year but they don't know how university funding model works:
Aug 1 • 15 tweets • 2 min read
Blow to Government as Court Declares Finance Act 2023 Illegal
We have highlighted some of the rulings and what will happen in response to some of the questions people are asking.
Read the thread below:
Here are the rulings:
The Court of Appeal has ruled the Finance Act 2023 unconstitutional, null, and void, stating that it failed to consider public views on various sections.
