Months after openly challenging President William Ruto during the requiem mass of former MP David Kiaraho, Nyandarua Senator John Methu became one of the leading figures in the DCP campaign that handed UDA a major setback in Thursday’s Ol Kalou parliamentary by-election.
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The Richest Man in Babylon was one of the books that thought me so much. It prevented me from repeating common financial errors most people make. You may also learn from it or a version of it.
Here are some the financial lessons (laws) from the book:
1. Pay Yourself First : Save at least 10% of everything you earn before you spend on anything else. This builds the habit of wealth automatically. What you don’t see, you don’t miss.
2. Control Thy Expenditures
Live below your means, no matter how much you earn: The book teaches the difference between necessary expenses and desires and warns that expenses will always rise to meet income if you let them.
3. Make Thy Gold Multiply: Money should work for you, not sleep in your pocket.
Invest wisely so your savings create more income.
4. Guard Thy Treasure from Loss: Avoid schemes that promise quick profits. Only invest where your principal is safe, and seek advice from people who have proven success.
5. Make of Thy Dwelling a Profitable Investment: Own your home if possible, it stabilizes your future and reduces long-term financial stress.
6. Ensure a Future Income: Prepare for old age and emergencies. Wealth is not just about getting rich, but about not becoming poor again.
7. Increase Thy Ability to Earn:
Your greatest asset is your skill and knowledge. Constantly improve yourself, because higher earning power accelerates everything else.
8. Seek Wise Counsel: Learn from those who know more than you. Bad advice is expensive; good advice multiplies value.
9. Take Responsibility for Your Finances: No one will rescue you. The book repeatedly reminds us that discipline beats luck every time.
10. Start Now (Time Is the Greatest Asset): Even small amounts grow big when given time. Delay is the enemy of wealth.
Mastering the basics is all you need to build a resilient portfolio. You may spare Sh 6K for these investments, month-on-month, resulting in a diversified portfolio.
⚡Load your MMF account with 6000
⚡Buy 500 shares of KPLC with 6000
⚡Fund your bond fund with Sh 6000
⚡Buy 2000 shares of KENRE with 6000
Every. Single. Month.
Consistency matters 💯
Earning Kes 30,000, this budget fits you to be fair. Don’t live above this if you can.
1. Rent - Kes 8,000
2. Food & home supplies - Kes 5,000
3. Transport - Kes 3,000
4. Utilities (power/water) - Kes 1,000
5. Airtime/Data/Internet - Kes 1,000
7. Toiletries/cleaning - Kes 500
8. Entertainment - Kes 3,000
9. Kids - Take them to public school, you have no business paying school fees.
10. Black Tax - avoid if you can, here it’s a matter of survival. Just remember you cannot help others whilst yourself you are in a hole 🕳️.
Total spent Kes 21,500
Saved Kes 8,500
At this stage in life, you need to properly network, have that confidence of get crushing any social joint you think is above you, as that is your only currency 💴 that time, sell yourself properly to potential clients or people who could possibly link you to better paying jobs etc.
I hope you are finding me up to there.
Yesterday, I wrote some commentary about the rot in our country, focusing on how our County Governments are pillaging our resources. That commentary, which almost broke the internet, shocked the conscience of the nation.
In that commentary, I made the audacious claim that our governments, including County Governments, appear to exist solely to maintain the lifestyles of the most corrupt among us.
I am here today to tell you what I meant by that.
To do this, I need to try and paint a picture for you so that you can easily spot the problem. I will focus on Mandera County only as an example. I am not focusing on Mandera County because I have any specific animus towards the county. No sir, no ma’am. We have to start somewhere, don’t we?
Please sit down, buckle up, and park for a second if you are driving. You will see why you might get very angry shortly.
Let us start with some context. I need to show you the two pictures I used yesterday, only because they can explain better than I can, the decision making of our leaders (first picture), and then, the result of those decisions (second picture), and that is the whole point of this discourse.
Let me start by putting some numbers on the table as reference points.
The first number is KSH 11.4 billion. This was the budget of Mandera County for the 2022/2023 fiscal year.
The second number is 2%. This is the percentage of the budget that Mandera County planned to raise from within the county, which would translate to approx. KSH 200 million. In other words, 98% of the KSH 11.4 billion would come into the county courtesy of you, me and everyone else. Your contribution is appreciated. But next time, please send more.
The third is KSH 67,518. This is the average ANNUAL [emphasis added] income of a resident of Mandera County. (https://t.co/GVp5NBPV53)
The fourth one is, KSH 12 million. This is the basic annual salary of the Governor of Mandera County, before other benefits.
The fifth one is 177. The Governor of Mandera’s salary is 177 times
higher than the average Mandera resident’s annual income. Let that sink in. 177 times higher than the income of the subjects he Lords over. For context, the Governor of Texas makes USD 153,000. This is about twice [emphasis added] as much as the average Texan makes. Not 177 times.
KSH 285 million. This is the figure provided by Mandera County Government as the cost of that Palace in the Jungle. You have to admit, it reminds you of Mobutu Sese Seko’s mansion that the old despot built in the middle of nowhere, squandering a sizeable chunk of DRC’s GDP to do so. The poor be damned.
1 million. This is the population of Mandera County.
89%. This is the poverty rate in Mandera. 89% of the county is poor. Indigent. (seethe County Government’s own website
)
Now that we have our key numbers, let us discuss.
As I said above, out of the 2022/2023 County Budget, which was KSH 11.4 billion, the County of Mandera was only able to raise KSH 200 million from within the county. In other words, 98% of the money the County spent for this fiscal year came to the county courtesy of you and I and every other Kenyan.
So, we can establish easily that the problem of how the County Government of Mandera spends money allocated to it is everyone’s problem.
I also said above that the whole County machinery could only raise KSH 200 million locally. Do you see the problem here? The County’s budget has absolutely no bearing on the economic activity or the economic prospects of the County. It is not anchored upon the economic reality of the County. Don’t get me wrong, there are valid reasons for us as a nation to endeavor to develop a region that has historically been ignored by successive administrations. But we also have, in my humble opinion, to be cognizant of the fact that our resources are scarce. We have to use our brains.
Bite this little nugget for more context: Nakuru County, with a population of over 2.1 million (more than twice the population of Mandera), received approximately KSH 13 billion from the National Government in the 2022/2023 fiscal year. KSH 11 billion for Mandera with 1 million residents, vs KSH 13 billion for Nakuru with 2.1 million people. Go figure.
Common sense would tell you that the foundation for a federal government system like ours is that each county should generally endeavor to live within its means. In other words, Mandera County should not expect that citizens in other counties will continue sending help to support Mandera forever. Otherwise, the whole system crumbles.
With that in mind, and remembering that Mandera is only able to raise 2% of its budget, what year, pray tell, do you think Mandera will be in a position to raise 70% of its budget like Montana, the US State that receives the most help from the US Federal Government does today?
2075 AD? 2100 AD?
I think you get the point.
Again, the transfers from the National Government are not in any way tethered to the economic reality within the county. The County of Mandera can expect ongoing, and very generous transfers to the county, regardless of whether or not there is any prospect whatsoever of the county EVER being able to take care of its own needs.
What can go wrong in a situation like this?
Well, for starters, the County Government spent KSH 285 million on a mansion in the jungle surrounded by nothing but nothing. For the Governor. You have seen it. It’s nice, right?
They were not done. Not by a long shot.
The County Government also spent KSH 55 million to build the Mandera County Assembly Speaker a mansion. The County Government also built a mansion for the Deputy Governor. While I do not have the specific amount for the Deputy Governor’s mansion, the May 20, 2019 Salaries and Remuneration Commission (“SRC”) circular capped the cost of constructing County Governor, Deputy Governor and County Assembly Speakers’ residences at Sh45 million, Sh40 million and Sh35 million, respectively.
Let’s assume that the County Government only spent the 40 million established by the SRC for the Deputy Governor (which would be a miracle given that they significantly went over the limits for the Governor and the Speaker’s house).
This would mean that a poor county like Mandera has spent KSH 380 MILLION on mansions for just three politicians. In case you were wondering, this figure is equivalent to the TOTAL ANNUAL income of 5,628 residents of Mandera! Let that sink in. 5,628 poor residents of Mandera would have to toil the earth for a year to make what these three special people have grabbed for themselves.
The first question that confronts us is this: In a county where the average citizen makes KSH 67,518 ANNUALLY, which genius thought that it is a prudent thing for you and me to build each of these people a mansion that practically nobody in the county who is not a government employee can ever, ever, ever dream of living in? This is your government, and please remember this when they tell you that the government cannot afford to pay doctors a living wage.
The second question is, how is it possible that a county whose leaders can only raise KSH 200 million locally (local taxation is a great proxy for the size of the local economy because the government is generally taxing economic activity), is fine with spending KSH 380 million to build mansions for the Governor, Deputy Governor, and the Speaker of the County Assembly? So, they collect KSH 200 million in taxes, and spend KSH 380 million to build homes for three people. What the heck are they smoking in Mandera?
Remember that the average citizen in Mandera County makes KSH 67,518 annually. The Governor of Mandera County makes about KSH 1 million per month, or KSH 12 million per year- before other benefits. In other words, the Governor earns a basic salary before benefits that is 177 times higher than the average Mandera Citizen. Let that sink in. 177 times higher than the average citizen.
So, you have paid the Governor a salary that is 177 times higher than the average Mandera Citizen, and built him a mansion for KSH 285 million.
Allow me to make a quick confession here. I am an economist and Certified Public Accountant with probably more professional experience than the Governor, the Deputy Governor, and the County Assembly Speaker of Mandera County. And am not saying this to boast. I am saying this to tell you that, while I make a good living, nobody in the private sector will pay me a salary that is 177 times higher the average citizen’s annual income. It’s not going to happen. Period, end of story. And nobody is going to build me a mansion like that. I get a salary, health benefits, and that is it. If I don’t like that, I can shove it.
What I am telling you here resonates, doesn’t it?
Let us test the sense behind this compensation structure. You have a job, right? Do you make 177 times the income of your average neighbor? The answer is no!
What is worse is the fact that the crazy high salary is usually not the end of the stealing. Benefits and other “marupurupu” can often double the high salary. Let me give you an example of this. On the Mandera County’s 2022/2023 budget, there is a summary of a department’s projected expenses. It lists:
· Basic salaries: 80 million
· House allowance: 13 million
· Hardship allowance: 16.5 million
· Commuter allowance: 8.3 million
· Risk allowance: 1.5 million
· Extraneous allowance: 396,000
· Personal allowance: 264,000
· Leave allowance: 669,000.
Do you see the sheer stupidity of our government? What the heck is a “risk allowance”? A “hardship allowance"?
I did tell you that you might get angry. Did I not?
So, the question is, why is this ok in Kenya to pay someone an income that is over 177 times the average citizen, build them a palace, and on top of that throw in additional benefits such as the above, frankly, artificial allowances? Why is this ok in a poor country?
The next thing that should offend all our sensibilities is HOW the KSH 11.4 billion is actually spent. I told you that government exists to facilitate the filthy-rich lifestyles of our corrupt politicians. And am sure you are beginning to understand what I meant.
Think about this. Mandera County has the following departments:
· Ministry of Agriculture, Livestock, and Fisheries;
· Ministry of Education, Culture, and Sports;
· Ministry of Gender, Youth and Social Services;
· Ministry of Finance;
· Ministry of Health Services;
· Ministry of Trade, Investments, Industrialization, and Co-operative Development;
· County Assembly;
· Lands, Housing and Physical Planning;
· Office of the Governor and Deputy Governor;
· County Public Service Board; and
· Ministry of Public Service, Management, and Devolved Unit.
Now, you will agree with me that the measure of any department’s success in the performance of its mandate is really how much of the resources made available to it reaches the needy citizens, right? Like, if you and I formed a charity that aims to provide university education to orphaned children, we would measure our success by how much actual help (financially) we are able to provide to the largest number of children, right? Meaning that if we raise KSH 100 MILLION but spend KSH 60 MILLION on ourselves, we are not really helping a lot of people. That is just common sense, is it not?
Well, that doesn't appear to be how the County of Mandera views its mandate.
Consider this: Out of the departments I listed above, The County Assembly and the Office of the Governor and the Deputy Governor, together, have projected expenses that are GREATER THAN what is earmarked to be spent by the Ministry of Agriculture and Livestock, Ministry of Education, Ministry of Gender and Youth, Ministry of Finance, Ministry of Trade, Lands Housing and Physical Planning, and Public Works and Transport! Unbelievable, right?
So, the County Assembly and the Office of the Governor and Deputy Governor are more important than the ministry of education, and the ministry of public works. Only in Kenya.
Now, the last point I want to make is this. The vast majority of the money spent by Mandera County goes to people’s bank accounts, as opposed to the larger economy, which is why even after pumping KSH 11 billion annually, for many years, you won’t see the economic growth that you would hope for.
I will use one department of the County Government to illustrate my point.
The Ministry of Education in the County projected KSH 452 million in “recurrent expenditure” and KSH 138 million in “development expenditure” for the period in question.
This “recurrent expenditure” is designed to be the amount that the County is using to “DELIVER SERVICES” to the people in the current year. Actual services to the people.
A review of the details reveals that that out of the KSH 452 million in “recurrent expenditure”, KSH 190 million will go to salaries, KSH 32 million will go to “house allowances”, 40 million will go to “hardship allowances”, KSH 26 million will go to “commuter allowances”, KSH 2 million will go to “leave allowances”, and on and on.
When it is all said and done, out of the KSH 452 million, the only amount that is left to go towards actual services is KSH 120 million for “bursaries” and KSH 15 million for grants to youth polytechnics. I am the first one to say that I have serious questions about how much of this KSH 120 million and the KSH 15 million actually ends up with the residents.
So, now you have the picture from just one department, with a budget of KSH 452 million. You have seen that only a tiny fraction of the funds actually go towards providing much needed services. You can then extrapolate this problem across the entire government, and what you end up with is, a scam. A fraud.
There is no other reasonable conclusion that can be reached here, other than, this government exists solely to serve the rich, corrupt politicians.
I said yesterday that our country is on the brink. We are on the precipice of total collapse.
Today, we all know that our governments, national and county alike, are corrupt to the core. Everyday, you wake up to stories like, the Governor of Kiambu is shaking down Tatu City, demanding a bribe of KSH 4 billion. And we have all gotten accustomed to this. We don’t even blink.
What is worse is that our institutions have totally failed us. What does the Ethics and Anti—Corruption Commission (“EACC”) do? Does anyone know? What is the purpose of such agencies? What is the purpose of government in Kenya?
Today, you will walk to the next street and watch the Kenya Police shake down citizens for a bribe in broad daylight, without any shame. They are not even worried about being videotaped. This is because they know that in our country, our laws don’t mean anything. They know their leaders are corrupt and won’t do a damn thing. Fish rots from the head.
Countries become Haitis or Somalias when the average person cannot see any difference between a thug on the street, like Mr. Barbeque of Haiti, and the government. They are both using their monopoly of power and violence to take advantage of the poor citizens. You have to ask yourself if Kenya is different today.
And so, when I said yesterday that we are heading the way of Haiti or Somalia, I was not trying to be dramatic. I was trying to prepare us to recognize where we are headed, so that, if we want a different fate, we can demand a change of direction. We must demand a change of direction. We have no choice.
@OkiyaOmtatah@EAukot@EACCKenya@Mandera_cgvt@KWamatangi@aliiroba@NationBreaking@citizentvkenya@WilliamsRuto@rigathi
Your woman atanunua socks way before your birthday ikaange ready kwa keja.
Mkikosana before that anazivaa akilala as she laments how she almost made you happy but you misbehaved.
Curious about how Money Market Funds are performing? Check out our latest MMF update as of March 7, 2024.
Among the 18 Money Market Funds analysed, annual returns are surpassing 14%, with 5 showcasing returns of 15%, 3 providing returns of 16%, and 2 achieving 17% annually.
*Save this post and never run out of conversation starters with your kids*
Getting to know our kids is one of the most important things we can do as parents
But surprisingly, a lot of parents I talk to don't know where to start
The answer is simple, we just need to get in the habit of talking to our kids
And one of the best ways to do that is by asking questions and getting their opinions
So I hope this list is helpful for you all, providing you with an endless supply of conversation starters
As a dad, I treat this like a dialogue. I'll ask my oldest a question from the list, then he'll ask me one, and we take turns answering
Because as important as it is for us to get to know our kids, it's equally important that they get to know US.
HERE'S THE LIST:
1. What was your favorite part of your day today?
2. What's something that made you feel proud today?
3. What's something you want to do with me in the future?
4. What do you like most about our family?
5. If you could change one thing about our family, what would it be?
6. What's something you're really good at?
7. What's another thing you're really good at?
8. What's something you wish you were better at?
9. What's something you could do to get better at it?
10. What's your favorite tradition in our family?
11. What's a special memory you have with me?
12. What's your favorite memory ever?
13. What are some of your favorite activities?
14. If you could start a business, what would it be?
15. What's your favorite book?
16. Why is it your favorite?
17. What's your favorite way to spend a weekend?
18. What's your favorite song?
19. What do you like about the song?
20. What's something funny that happened this week?
21. If you could travel anywhere in the world, where would you go?
22. Where's a place you don't want to visit and why?
23. What do you like most about living in our city/town?
24. What's your favorite holiday?
25. Why do you like this holiday so much?
26. What's something you're looking forward to?
27. If you could ask me any question in the world, what would it be?
28. What's something you worry about?
29. What's your favorite thing about your bedroom?
30. What's something you'd like to change about your bedroom?
31. What's something you're saving up money for?
32. What's your favorite sport?
33. Why is it your favorite?
34. What do you want to be when you grow up?
35. What's your favorite animal?
36. What's your favorite food?
37. What's your favorite thing to do with your friends?
38. What's your favorite thing about summer?
39. What's your favorite thing about spring?
40. What's your favorite thing about fall?
41. What's your favorite thing about winter?
42. What's something you haven't tried, but want to?
43. What's something kind you did for someone else today?
44. What's something kind someone else did for you today?
45. What was a time you needed help with something?
46. What was a time you helped someone else with something?
47. What's something that you don't think is fair?
48. What's something you admire about me?
49. What's something you wish I did differently?
50. If you could change one thing about yourself, what would it be?
51. What's something you're proud of accomplishing this year?
52. What's something you've learned from me?
53. What's something you wish you knew more about?
54. What's your favorite thing about our house?
55. What's something you would change about our house?
56. If you could be any fictional character, who would you be?
57. What's your favorite game to play with me?
58. What's one thing that would make the world a better place?
59. What's something you wish I knew about you?
60. What's something that makes you feel safe and secure?
61. What's something that makes you feel afraid?
62. If you could live anywhere in the world, where would it be?
63. What's your favorite holiday and why?
64. What's your favorite thing about our community?
65. What's one thing you would change about our community?
66. What's a talent you have that you'd like to explore more?
67. What does "truth" mean to you?
68. What does "kindness" mean to you?
69. What does "courage" mean to you?
70. What does "integrity" mean to you?
71. What does "patience" mean to you?
72. What does "strength" mean to you?
73. What does "independence" mean to you?
74. What's your favorite story? Why?
75. What's something you're grateful for?
76. What does "responsibility" mean to you?
77. What does "reliability" mean to you?
78. If you could have any animal as a pet, what would it be? Why?
79. What's your favorite type of music?
80. What's your favorite school subject?
81. What's your favorite thing to do when you're by yourself?
82. Is there anything you'd like to start collecting? Why?
83. What's your favorite mythical animal?
84. If you could have any superpower, what would it be?
85. What's something interesting you've learned recently?
86. What's your favorite thing about nature and the outdoors?
87. If you could be any animal for a day, what would you be? Why?
88. What's your favorite part of your morning routine?
89. What's your favorite way to express your creativity?
90. If you could invent a new holiday, what would it be and why?
91. What's a funny joke you've heard recently?
92. If you could learn a foreign language, which would you learn?
93. What's your favorite type of car?
94. Who is a relative of ours that you admire?
95. If you could invent a gadget to make life easier, what would it be?
96. If you could time travel, where would you go?
97. What's your favorite way to relax?
98. What's something that surprised you recently?
99. What is your perfect day?
100. What's something you wish you knew about our family history?
101. What's something you admire about your sibling (or a friend)?
If you made it this far, like and share so more people see the list, and thank you as always for reading
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