This archive report was first published on 18 August 2019.
On August 18, 2019, Taita Taveta County workers protested delayed July salaries, sparking concerns about employees' poor money management skills.
Despite enjoying permanent and pensionable contract terms, many workers struggle to manage their finances effectively, leaving them vulnerable to poverty.
Financial experts recommend maintaining at least six months' worth of savings to ensure a smooth transition in case of job loss. However, most formal employees lack this essential 'survival' skill.
Mobile-based bonds platform M-Akiba, starting from Sh3,000, offers a 10% interest rate payment made biannually, while securities, insurance policies, and fixed savings are also viable options.
Association of Pension Scheme Administrators of Kenya chairman Hosea Kili emphasized the need for innovative products that encourage Kenyans to save more, reducing the burden on the State.
Unions representing county workers issued seven-day strike notices, citing salaries as a human right that should not be subject to political disputes.
Kenya Medical Practitioners and Dentists Union Secretary-General Ouma Oluga threatened to down tools if the pay delay persists, while the Kenya National Union of Teachers (Knut) protested the Teachers Service Commission's (TSC) decision to halt the pay raise of 103,624 teachers.
Before his exit, Treasury Cabinet Secretary Henry Rotich rejected a request to have contract workers contribute to their retirement via statutory deductions.
