To me 10% tax-free rate of return is not a bad thing. [COLOR=rgb(184, 49, 47)]Why is it undersubscribed?
Income tax on interest is 15% on the gross interest. So for example is you save Ksh10,000 and your interest is Ksh1,000 KRA comes for Ksh150. But in M-Akiba you keep the whole Ksh 1,000.
Does anybody know why Kenyans are hesitating from this seemingly easy investment??
Ata mimi nataka kuwekelea pesa kadhaa hapo it seems like a good idea
Their target market have better places to save money e.g. chamas, Saccos, merry go rounds.
After how long do you get the interest…
Poor marketing… Watu hawa tambui sana…
Me too. I’ll see if I can save a few shillings in it every month going forward. 10% for idle cash is as good an investment as any that I know of.
Twice a year they say on the website.
Agreed!