Si kuzuri Wadau. Imefika 114

mzeiya

mzeiya

Elder Lister
The shilling has been on a relatively quick freefall for some time now.

We were used to having it trading at 100 vs the US$ but it has earlier today hit the 114 mark which is the highest ever mark and a sign that all is not well.
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Obviously, the biggest concern is over the top inflation which as you know will make items more expensive and savings less reassuring. Keep in mind that we're a net importer country and that makes the situation even bleaker.

To add salt to injury, oil prices are skyrocketing.


So, what next?

Let us share ideas. I'd say that something medium term such as T-bills and MMF that would offset the inflation rate anticipated for starters. And if one has the means, opt for long term and reliable ways such as real estate and government bonds.

Not very sure if that's the best way to go but it's better to be prepared for what might be a tough time ahead considering that it's an election year that consistently shrinks the economy.

What are your thoughts Senetas?
 
Last edited:
mzeiya said:
MMF
Click to expand...


1. Madison MMF [@MadisonGroupKe]
Initial investment amount of Ksh 5,000
No maximum limit.
Top up with as little as Ksh 1,000 whenever you have additional cash.
Provides free monthly statements.
Current annual yield of 9.62% p.a
Withdrawals processed within 2 working days.

2/ CYTON MMF [@CytonnInvest ]
Annual management fee of 1.5% p.a.
Minimum investment of Ksh 100
No minimum top up.
Allow deposits via M-pesa
One can withdraw or invest up to a max of Ksh 300,000

3. UAP Old Mutual MMF [@UAPOldMutual
Minimum investment is Ksh 1,000
You can use your investment portfolio to secure a loan.
Top up with at least Ksh 1,000 per month
No restrictions to the maximum contributions
Allow one free withdrawal every month.
Allow M-pesa deposits

4/ Zimele MMF [@ZimeleAM ]
Minimum deposit of Ksh 100
Mpesa options for deposits and withdrawals
No minimum balance required.
Management fee of 2% per year.

5/ CIC MMF [@CICGroupPLC ]
Minimum investment amount is Ksh 5,000
Minimum additional amount is Ksh 1,000
Access your money within 2-4 working days
Annual management fee of 2%
Monthly statements provided

6/ ICEA LION MMF [@icealion]
Minimum investment is Ksh 500
You can make additional deposits of any amount at any time
For amounts less than 10K, via mobile money, you can access your funds within 24 hours
Higher amounts can be sent to your bank account within 3 working days

7/ Genghis Capital MMF[@genghiscapital ]
Minimum investment amount is Ksh 500
Minimum top up is Ksh 500
Access your money within 2-4 working days.
Annual management fee of 2%
Easy sign up via G-Kuze app.

8/ Britam MMF [@BritamEA ]
Easy sign up via MyBritam App and MyBritam portal.
Easy withdrawal to your M-pesa or bank account within 48 hours.

9/ Sanlam MMF [@SanlamKenya ]
Zero initial fees.
Minimum investment is Ksh 2500
Annual management fee of 1.2%

10/ Apollo MMF
Minimum investment is Ksh 10,000
Additional top ups of at least Ksh 2,000

11/ Dry Associates MMF
Funds accessible after 3 business days.
Minimum investment is Ksh 1M
Minimum top up is Ksh 250,000
Statements are emailed monthly.

Do note that:

There are 20+ registered MMFs. I couldn't get info on all.

The info above is directly from their websites.

I have tagged relevant sources so that they could make any clarifications if any.

And members of the public can inquire of features I may have omitted.
 
mzeiya said:


1. Madison MMF [@MadisonGroupKe]
Initial investment amount of Ksh 5,000
No maximum limit.
Top up with as little as Ksh 1,000 whenever you have additional cash.
Provides free monthly statements.
Current annual yield of 9.62% p.a
Withdrawals processed within 2 working days.

2/ CYTON MMF [@CytonnInvest ]
Annual management fee of 1.5% p.a.
Minimum investment of Ksh 100
No minimum top up.
Allow deposits via M-pesa
One can withdraw or invest up to a max of Ksh 300,000

3. UAP Old Mutual MMF [@UAPOldMutual
Minimum investment is Ksh 1,000
You can use your investment portfolio to secure a loan.
Top up with at least Ksh 1,000 per month
No restrictions to the maximum contributions
Allow one free withdrawal every month.
Allow M-pesa deposits

4/ Zimele MMF [@ZimeleAM ]
Minimum deposit of Ksh 100
Mpesa options for deposits and withdrawals
No minimum balance required.
Management fee of 2% per year.

5/ CIC MMF [@CICGroupPLC ]
Minimum investment amount is Ksh 5,000
Minimum additional amount is Ksh 1,000
Access your money within 2-4 working days
Annual management fee of 2%
Monthly statements provided

6/ ICEA LION MMF [@icealion]
Minimum investment is Ksh 500
You can make additional deposits of any amount at any time
For amounts less than 10K, via mobile money, you can access your funds within 24 hours
Higher amounts can be sent to your bank account within 3 working days

7/ Genghis Capital MMF[@genghiscapital ]
Minimum investment amount is Ksh 500
Minimum top up is Ksh 500
Access your money within 2-4 working days.
Annual management fee of 2%
Easy sign up via G-Kuze app.

8/ Britam MMF [@BritamEA ]
Easy sign up via MyBritam App and MyBritam portal.
Easy withdrawal to your M-pesa or bank account within 48 hours.

9/ Sanlam MMF [@SanlamKenya ]
Zero initial fees.
Minimum investment is Ksh 2500
Annual management fee of 1.2%

10/ Apollo MMF
Minimum investment is Ksh 10,000
Additional top ups of at least Ksh 2,000

11/ Dry Associates MMF
Funds accessible after 3 business days.
Minimum investment is Ksh 1M
Minimum top up is Ksh 250,000
Statements are emailed monthly.

Do note that:

There are 20+ registered MMFs. I couldn't get info on all.

The info above is directly from their websites.

I have tagged relevant sources so that they could make any clarifications if any.

And members of the public can inquire of features I may have omitted.
Click to expand...

Hapo sawa. Savings account ni kama iko na hidden charges jo
 
Importers tunaumizwa saidi!
2 years ago Kenya Shilling to Chinese Yuan was trading at around 14.5 saa hizi Iko 17.8 so in essence if you had purchased goods worth 100,000 Yuan (Ksh.1,450,000) in Jan 2020 and the same goods right now (Ksh.1,780,000) you lose over Ksh.300,000/-
Mind you prices in china rarely change so you’ll end up with same quantity of goods!!
 
Masgwembe said:
Yes plus many politically connected individuals. Issascum this so called Jamuhuri. Na vile KRA wanafinya waKenya wa mapato ya chini.
Click to expand...
A wealth tax on Kenya’s super-rich and high-income earners has the potential to earn the country up to Sh125 billion in additional revenue, charity organisation Oxfam International says.

Oxfam says in a new report on inequality that a wealth tax of two percent on those with a net worth of $5 million (Sh568 million), three percent on $50 million (Sh5.7 billion) and above, and five percent on $1 billion (Sh113.5 billion) would net the exchequer $900 million (Sh102.2 billion).

This is equivalent to a third of the government’s total healthcare budget.

A more progressive or punitive tax regime that would raise the rate on the $50 million wealth bracket to five percent and levy those holding $1 billion 10 percent would net $1.1 billion (Sh125 billion), the organisation estimates.


www.businessdailyafrica.com

Wealth tax on super-rich to net Sh125bn a year

A wealth tax on Kenya’s super-rich and high-income earners has the potential to earn the country up to Sh125 billion in additional revenue, charity organisation Oxfam International says.
www.businessdailyafrica.com www.businessdailyafrica.com
 
Kdawg254 said:
A wealth tax on Kenya’s super-rich and high-income earners has the potential to earn the country up to Sh125 billion in additional revenue, charity organisation Oxfam International says.
Click to expand...
We were told here by senior Listers that stashing one's legit and suspicious loot abroad is being clever after the ruling family was exposed by Pandora Papers.
Ama tunataka Rais afanye nini?
 
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