CBK retains Central Bank Rate at 18%
The Central Bank of Kenya has decided to keep the central bank rate unchanged at 18% for the 2nd month running. In a press release following the meeting of the Monetary Policy Committee today, the Governor highlighted that the inflation rate had dropped from 18.93% in…
Entrepreneurs Too Need Counselling On Business Loss
A year ago, Shirley Jepkosgei ran a successful clothing and beauty business to supplement her salary from a non-governmental organisation in Nairobi. Her business was worth more than Sh1.1 million and she says she often earned about Sh100,000 monthly from the venture. Since its launch in 2007, her business had…
Crowdsourcing Financial Information : Part 1
I, like all, Kenyans, love a bargain. I look at prices everywhere I go, not because I plan to buy anything, but because I have to know where the cheapest things can be found. Bargain hunting isn’t just about consumer items. I look for the best price in services as…
From start-up to sustainable business
No entrepreneur or businessperson starts a business with the aim of running it for a year or two and then being shut down because it cannot function. Businesspeople start businesses to make money, because they’ve spotted a gap in the market and have had the opportunity to take it. But…
Manage Your Money Better
Managing your finances can be very challenging; you may fail over and over and in turn sink into a depression. Why is this the case, why do most of us constantly fail at managing our money? Well, the answer is quite simple: we are never trained on how to be…
Why Joining a Startup Incubators is Better Than Joining a Business School
Let’s get this straight: If you want to work at Goldman Sachs, McKinsey or General Electric, an MBA is a handy scrap of paper. But if you’d prefer to bypass the corporate ladder and actually build something of your own, spending upwards of 1 Million Kshs and two years without…
7 Free Household Budget Spreadsheets
Whether you’re venturing out on your own for the first time or just realizing you need to get your personal finances under control, one thing is certain – you need to budget. If you are trying to create a personal budget, a good place to start is from our 10…
How and Why to Start an Emergency Fund
“Pay off your debt.” “Pay your taxes.” “Buy a house.” “Get a new job.” Personal finance advisers bombard us with a litany of things we ought to do in order to achieve financial independence. It’s overwhelming. Where’s a person to start? Most personal finance books agree: the first thing you…
Financial Mistakes to Avoid in 2012
There are many people in this world including you and me who tend to make mistakes throughout their lifetime. Some learn early from their mistakes and avoid doing them and some keep on doing them and keep on having problems. When it comes to personal finance, a financial advisor can…
Financial Resolutions for 2012
Happy new year guys. 2012 is here and I can’t begin to tell you how syked up I am for this year. We at the Money Academy promise to keep you more and more informed about all that is happening in the financial world, giving you all the financial tips…
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