About seven years ago when I joined banking, I found out a very interesting phenomenon about business relationships that changed my way of thinking, considering an earlier experience.  Just a year after joining college, my mum’s account was closed by a certain bank for having less than Kshs 10,000 as a minimum balance. To make it worse, she was advised that she …

Recently I was seated as one of the panelists in a global conference on how microfinance institutions are contributing to mitigation of risks associated with climate change, particularly to small holder farmers. The moderator of the panel asked an intriguing question: what was the number of insurance policies each of the delegates had or was actively being run by their spouses? Interestingly, over 50% of the people …

I like my best friend Wagaki, because at times she can sting like a bee. Sometimes with truth, the kind that really hurts but when assimilated leads to success. Recently, she came up with a theory but backed it with a newly released research that got me thinking. She said that there is nothing called “middle class” especially in Kenya. …

Many of us have dreamt of a day that we wake up and there are millions of shillings or probably dollars that we have no immediate plans to spend. It does not matter whether it is from hard earned sweat, mysterious jackpot or any other sources. We would then equate that to financial freedom, at least since we are free …

I got into this crazy discussion with a friend of mine in Tanzania recently. From the onset, I had not intended this conversion will go down this stream but it did. My gist was to understand why there is a perception that Tanzania is not fully and 100% committed to the implementation of integration measures to forming the East African …

As a young banker, there is one memory that has never escaped my mind, having to remove tanks from the roof of one of the customers in a recovery process. Crazy as it sounds; it’s the only option I had in managing loan repayment for that particular entity, despite the reputation issues attached to it. Maybe I need to give …

It is long since I had this feeling of insufficiency in simple financial matters, and worse more in a church. I had really an interesting moment in church last Sunday. The management of the church has decided to carry out a simple survey on how the members keep basic financial records and hence induct them on setting priorities in personal …

Whenever I ask a person the reason for seeking loan advances, whether short term facilities or long haul financing, most hesitate to say it, and end up giving a very strong purpose, but whose foundation will always be shaky on further probing. Until recently, banks would accept a one liner or statement on purpose of borrowing, but the trend seems …

Bankers have been accused of being the greatest fuel oiling and driving what is commonly known as shylock business in Kenya, I guess across the world as well because it is always assumed that the bank will not fail to pay its employees anyway. Not until one day, that notion skips to consider that people lose their jobs instantly. Back …

When I was growing, my grandmother used to tell us about the village chief who was very rich. Much of his wealth was from bride price from his many daughters who were scattered all over the village. Along the way however, like the way my old folk would put it, ‘civilization came’. The era of hire purchase came knocking with …