Chris Kirubi to Become Ksh1.1 Billion Richer

Businessman Chris Kirubi to become Ksh1.1 billion richer after new details emerged about the sale of part of Haco Industries to French firm Société BIC. The French company has already advance him Ksh700 million but the extra amount will be paid within three years. Kirubi told Hakikapost that the extra Ksh1.1 was due to the cash Haco had already injected into the business by the time the transaction was completed. SEE ALSO: FBI Invite DCI & DPP for a Meeting in US “The deferred payment will compensate Haco for its investment in BIC…

Start a Business That Can Earn You Big Profits!

With the current high unemployment levels, starting a business that can earn you big profits is always the best alternative to the ever elusive jobs.  However, even if you are employed, you can still do business alongside your full-time job. All that matters for you to be successful in business is your managerial skills, a good customer service, your vision and last but not least, an ideal business location. Although certain businesses can’t be put up without access to large amounts of capital, it is still very possible to start a…

Wealthy People Do this to Keep Getting Richer

In a world of average people — and average salaries — many of us aspire to join the 7-figure club. Who doesn’t dream of becoming wealthy, so they can stop working, go on guilt-free shopping sprees and take endless vacations? However, most rich people don’t do those things, and that’s part of how they build and maintain their wealth. There’s a difference between living a life of careless spending (which will quickly drain even a wealthy person’s bank account) and living for long-term financial independence and wealth. The self-made rich…

Growth Can Destroy Your Business If You Aren’t Prepared for it

Sit back and close your eyes. Daydream about when your business generates enough revenue to set you free financially. Sales are rolling in. A long list of clients want to do business with you. There’s no more stress about not making enough. That day is the goal of entrepreneurship. We started a business to achieve time freedom, financial security and to make an impact on the lives of those our business serves. It’s not an easy path. At times achieving those goals requires more than we feel we’re capable of giving. You…

How to File Nil Returns on iTax

Filing nil returns on Kenya Revenue Authority’s website, iTax, may at times seem hectic but with the right amount of information, you can save yourself some serious penalties including the annual fine of Ksh 20,000 that one must pay. This penalty can make one miss incredible opportunities such as advancement in a career in which most companies in this age demand a KRA clearance, a fit you cannot achieve as long as you owe the taxman a penalty. What is Nil Returns Nil income tax returns are filed by Kenyan…

Matiang’i: Driving Schools to be Deregistered

The National Transport and Safety Authority has summoned a meeting with all driving schools to deliberate on the way forward. An inter-agency task force will be established to oversee a fresh registration exercise. This was after the High Court quashed an earlier proposed curriculum by the authority targeting the schools. The meeting to take place Thursday will be chaired by Interior Cabinet Secretary Fred Matiang’i. The driving schools moved to court last year to challenge a proposed curriculum for training and testing of drivers by NTSA. The court further rejected…

4 Lessons Most Successful Entrepreneurs Learnt the Hard Way

To help mitigate the impact of those speed bumps, here are four lessons that most successful entrepreneurs have learned the hard way, but maybe you don’t have to.   The path to building a successful business is rarely a simple one. But in the beginning, it seems simple enough: you’ll build an amazing product, market it and watch as people pull out their credit cards. Then you’ll hire people to take over menial tasks and you’ll move into the role of CEO, eventually delegating that as well and living on the…

Logbooks Crisis as Over 6000 Cars Stuck at the Port

A new directive by KRA has caused a crisis at the Mombasa port as over 6000 imported cars are yet to be cleared. In the directive, KRA ordered that no vehicle should leave the port before it is fully registered and issued with a logbook. In the past, an electronic sticker from the NTSA and number plate registration were all one needed to get their car cleared. The backlogs in clearing the vehicles have led to the importers paying extra storage fees and losses that might run into millions of…

Fuliza now goes Global

Safaricom  has announced plans to take its M-Pesa overdraft service, Fuliza, to seven new African countries as the telco seeks to tap into the high demand for instant, micro-loans. The telecommunications firm wants to introduce Fuliza in six other countries outside Kenya. These include Tanzania, Lesotho, Ghana, the Democratic Republic of Congo (DRC) and Mozambique where Safaricom’s mobile money service M-Pesa is already available through its parent company, Vodacom. M-Pesa services are also available in India through Vodacom. SEE ALSO: How to make first-time customers keep coming back Fuliza, an…

How to make first-time customers keep coming back

It’s no secret repeat business is critical to success; still, many businesses commit the bulk of their marketing budgets to customer acquisition rather than customer retention. Acquiring new customers is certainly important, but consider this: It costs five times more to attract a new customer versus retaining an existing customer, and increasing your customer retention rate by just five percent can yield a 25 to 95 percent increase in profits. The numbers speak for themselves: if you can retain customers, your business will be more successful — which is why you…