By: John S. Morlu II, CPA
If there’s one thing Kenya does better than most — besides having tea that slaps and nyama choma that heals — it’s the art of financial creativity. Money in Kenya is not just a currency. It’s a character. A plot twist. Sometimes a ghost.
Everyone is either chasing it, growing it, hiding it, or losing it on betting apps. And the methods? Oh, they’re worthy of a PhD in Street Economics.
M-Pesa: Kenya’s True National Anthem
Forget coins and bills. M-Pesa is the true engine of Kenya. It’s faster than most banks, more trusted than your cousin, and accepted everywhere from supermarkets to your grandma’s chicken dealer.
You can buy a goat, pay rent, book a cab, bribe someone (don’t), and donate to church all before breakfast — using just your phone.
M-Pesa is the heartbeat of every business deal, lunch plan, and “please send me fare” request. It’s also how you find out who your real friends are — especially when you’re in a financial emergency at 2AM.
Fun Fact: 98% of Kenyan romantic relationships begin with “do you have M-Pesa?” and end with “why haven’t you reversed that transaction?”
Chamas: Saving, Gossip & Governance
A chama (informal savings group) is part investment club, part financial boot camp, part soap opera. It’s where people pool money monthly with dreams of buying land, opening a business, or at least upgrading someone’s sofa.
There are women-only chamas, men-only chamas, elite chamas, and “we just want to eat nyama choma” chamas. Some have bylaws, rotating chairpersons, annual retreats, and enough drama to rival a telenovela.
Miss your payment twice? You’re blacklisted — emotionally, spiritually, and socially. No one will look you in the eye until you pay back with interest — and bring soda.
Fun Fact: Some chamas operate more efficiently than county governments. Others crash harder than crypto. But the tea is always hot.
Loan Apps & Credit Culture
Kenya has more loan apps than traffic lights.
If you blink, someone’s downloading another “get-rich-now” app with interest rates NASA still can’t calculate. You borrow Ksh 1,000 and somehow owe back your dignity, your inheritance, and your next three birthdays.
There are guys who take loans from App A to pay App B, then disappear into the night like fintech Houdinis. Some have five phones just for juggling debt — it’s digital gymnastics.
The best part? Some loan apps now send daily reminders with emojis, inspirational quotes, or guilt-inducing messages like:
“We believe in you. Please pay us.”
Or the classic:
“Your neighbor just paid. Be like them.”
The Economy According to Kenyans
- Rent is a suggestion.
- Loans are oxygen.
- Betting is retirement planning.
- Asking someone to pay back is “ruining the friendship.”
More Fun Facts:
- M-Pesa agents give financial advice, offer relationship counseling, and occasionally host church sermons.
- “Please flash me” is the universal signal for “I’m broke but thinking of you.”
- The phrase “uko na 50?” (do you have 50 bob?) has ended friendships, started marriages, and launched at least one political career.
- There are more SACCOs in Nairobi than working streetlights.
Final Thoughts
Money in Kenya isn’t just about the digits — it’s about the hustle, the community, the dance. Whether it’s a boda rider flipping airtime, a mama mboga running six side hustles, or a techie trading forex during lunch — everyone’s in motion.
In Kenya, wealth is a state of mind, and broke is just a phase (until the next chama payout). As long as you have your phone, your network, and your dreams — you’re in business.
Next up in Chapter Fourteen:
“Matatus, Motorbikes & Mayhem – Navigating Kenya’s Transport Jungle.”
About the Author
John is an entrepreneur, strategist, and founder of JS Morlu, LLC, a Virginia based CPA firm with multiple software ventures including www.FinovatePro.com, www.Recksoft.com and www.Fixaars.com . With operations spanning multiple countries, John is on a mission to build global infrastructure that empowers small businesses, entrepreneurs, and professionals to thrive in an increasingly competitive world. He believes in hard truths, smart execution, and the relentless pursuit of excellence. When he’s not writing or building, he’s challenging someone to a productivity contest—or inventing software that automates it.
