Personal finance

Dirty secrets of the 8 richest men

The world’s eight richest individuals have as much wealth as the 3.6 billion people who make up the poorest half of the world, according to Oxfam. The charity said its figures, which critics have queried, came from improved data, and the gap between rich and poor was far greater than ...

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Banks blacklist Nation Media employees

The ongoing restructuring at Nation Media Group is hitting even at employees’ wallets. Banks have blacklisted the leading media house as a loan guarantor for its workers and has stopped offering credit to them. It is understood that Standard Chartered bank stopped giving loans to Nation employees about four weeks ...

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Imperial Bank fraud a CBK conspiracy

Just over a year ago, when Imperial Bank was put under receivership, Central Bank governor Dr Patrick Njoroge was so bullish about its revival that he promised to sort the issue in a matter of months. But 14 months later, that exuberance has turned into a convoluted journey of legal ...

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After big Black Friday sale, Kilimall extends deals into December

Online shopping mall Kilimall Black Friday sale soared this year, growing three times more compared to last year. The leading online marketplace says in its Black Friday report that sales from the shopping festival marked on November 25th grew by 300% from 2015, as more Kenyans took advantage of huge discounts ...

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Athlete demands millions from drugs maker over advert

Pharmaceutical company Rohto Mentholatum and its distributor have been sued by a local athlete for using his image to promote the muscle pain relief spray “Deep Heat” on social media platforms. Sportsman Joseph Kibunja has moved to court citing commercial exploitation by Rohto Mentholatum (K) Ltd and its distributorship agent, ...

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Safaricom races to Sh1 trillion valuation milestone

Safaricom has generated Sh700 billion wealth for its shareholders in the brief time it’s been operational. Today, if the company’s share gains one shilling, a cool Sh40 billion in wealth is created in that very moment As 2016 draws to a close, the biggest question on the lips of investors ...

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Tiny loans awaken the giant in peasant farmers

Flaring innovations have gone fluffy and fleecy in a small rural village of Nyametaburo in Kuria West, Migori County. Members of this community have gone out of their way to devise new mechanisms to help them fight forms of sheer destitution. Mobile Money Platform dubbed “Chama Solutions” has come in ...

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Poll shows Black Friday yet to pick up in Kenya

Unlike other mostly western countries, where black Friday is characterized by long lines of people braving cold days and nights outside major shopping malls, in Kenya, Black Friday is simply a period of days. The experience is also mostly online where a handful of sites participate with almost zero walk-in ...

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The biggest con scheme in town

A pyramid scheme run by a convicted Russian fraudster has set base in Kenya and has for the past one year or so been luring thousands of people with the promise of becoming rich quickly. MMM Global promises those interested in the scheme up to 100 per cent returns. It is ...

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More tax will kill betting industry

The Betting Licensing and Controlling Board (BCLB) has polished its taxation bowl with a raft of new levies targeting gaming and lotteries. The new tax measures will see licensees pay new levies on earnings in addition to the existing taxes such as income tax and withholding tax, in instances where the ...

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