This archive report was first published on 18 August 2019.
August 18, 2019
Kenya's county workers are facing a financial crisis, with delayed salaries causing families to skip meals and struggle to pay fares to workstations.
Despite enjoying permanent and pensionable contract terms, many employees are bad managers of their salaries, which are the lifeline of their livelihoods.
Financial experts recommend that each working person maintain enough savings to enable them to maintain the same lifestyle for at least six months after losing a job. However, most formal employees lack 'survival' skills.
Mobile-based bonds platform M-Akiba, which starts from as low as Sh3,000, offers a 10 per cent interest rate payment made biannually. Other savings products include securities, insurance policies, and fixed savings.
