FINANCE MONDAY

Hey there!

Welcome to Finance Monday. After an eventful weekend headlined by the m-pesa debacle, the finance world welcomes us to intriguing episodes that graced our weekend and consequently our Monday morning.😋

Time to give airtel money a chance?

A Kenya without m-pesa? Is it even possible? M-pesa has become part of us that it’s scary to imagine what would happen if the recent technical failure extended to days. This weekend many faithful m-pesa users were troubled and inevitably took to twitter to rant of m-pesa’s inefficiency at a crucial time when some were making the important deposit to betting sites and some were just about to pay for their  goods and services. 

CBK and the Communications Authority of Kenya (CA) have stepped in to investigate the matter given that the regulator, CA, does not accept interruptions for more than an hour. This raises one important and genuine question, is it time for us to avoid the crowding to safaricom’s m-pesa and gladly give airtel money a chance?🧐

Feeling the KFC love

To some chicken news, KFC continued its exploration of the chicken loving Kenyan nation by adding one more outlet at Village Market. This has increased its total outlets to a whooping 21 stores and management is hatching plans to open branches, next year, in Buruburu (February), two in Mombasa (June), Nairobi and Eldoret. Aren’t we eggcited.🤤

NIC share price increase

Recall the merger plan between NIC and CBA in our previous blog. Well, the announcement reflected positively on NIC’s share price as it witnessed an increase from shs.22.65 to shs.33 on Friday. This is really encouraging and investors are excitedly looking at how the potential merger will perform especially that it’s between two big banking giants, the non-listed firm, CBA and the listed firm, NIC.

Another global recession?😢

The stock market has admittedly experienced turbulent times over the past few months especially with rising global interest rates. In US, for instance, the major market indices suffered heavily last week; NASDAQ was down nearly 5%, S&P 500 down by 4.6% and Dow down by 4.5 %. In Kenya, the NSE share 20 index increased 28 points on Friday. However, its performance has been below par especially after August; https://tradingeconomics.com/kenya/stock-market. Stock market analysts fear that these could be signs of a coming recession. (We’ll cover this intensively in one of our blogs this month).

That’s it for today. Thank you for reading through.❤

In addition to finance updates, a friend requested that i also add a segment on investing (how to make money especially in a broke December😁). Therefore, I plan to write/ do a vlog on investing in bitcoins (with a good friend of mine behind nurucoin) and investing in the stock market (we do it real time at the NSE). Aim; that we all grow together in finance and leverage on the many opportunities for us out there.

Hope to see you soon.😊Be blessed!