Kiota

Kiota

Financial Services

Investing and saving for retirement made easy

About us

Kiota is Swahili for Nest. We are a powerful investing and savings platform dedicated to helping you achieve financial growth for a better life. With Kiota, retirement is as easy as 1, 2, 3. Experience the benefits of putting your money to work.

Industry
Financial Services
Company size
2-10 employees
Headquarters
Nairobi
Type
Privately Held
Founded
2023
Specialties
retirement, aggregator, and SaaS

Locations

Employees at Kiota

Updates

  • Kiota reposted this

    View organization page for Kiota, graphic

    622 followers

    Why is it advisable for you to wait until retirement before accessing benefits? (i) Surveys carried out by Retirement Benefits Authority show that many workers who are paid their benefits when they change jobs use them on consumption expenditures, such as household goods, weddings and buying cars. Statistics also show that because of accessing benefits every time they change jobs, these individuals end up with very low benefits at retirement despite having saved for 30 to 40 years. (ii) Most Kenyans are not knowledgeable about investments, and therefore lack the right skills to make sound investment choices. The reality is that up to 90% of start-up small businesses wind up within two years. Even if one is an investment professional, he or she is unlikely to earn as much return investing individually as they would have earned from the scheme for three reasons: • Individual investments earn periodic simple interest, dividends, rent, interest, which are too small to reinvest, while the scheme earns compound interest by immediately reinvesting all income; • Through pooling, many small investors enjoy economies of scale in investment which results in lower costs and higher returns. Additionally, a scheme can invest in instruments which are not available to small investors due to the prohibitive minimum requirements. These include treasury bills, commercial papers, real estate and high price share; • Benefits paid out before retirement ages are subject to punitive taxation rates compared to benefits paid at retirement. Also, retirement benefit schemes do not pay tax on the investment income they earn. An individual investor will pay hefty withholding tax on all the dividends, interest, rent or profits that you may earn.

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  • View organization page for Kiota, graphic

    622 followers

    Why is it advisable for you to wait until retirement before accessing benefits? (i) Surveys carried out by Retirement Benefits Authority show that many workers who are paid their benefits when they change jobs use them on consumption expenditures, such as household goods, weddings and buying cars. Statistics also show that because of accessing benefits every time they change jobs, these individuals end up with very low benefits at retirement despite having saved for 30 to 40 years. (ii) Most Kenyans are not knowledgeable about investments, and therefore lack the right skills to make sound investment choices. The reality is that up to 90% of start-up small businesses wind up within two years. Even if one is an investment professional, he or she is unlikely to earn as much return investing individually as they would have earned from the scheme for three reasons: • Individual investments earn periodic simple interest, dividends, rent, interest, which are too small to reinvest, while the scheme earns compound interest by immediately reinvesting all income; • Through pooling, many small investors enjoy economies of scale in investment which results in lower costs and higher returns. Additionally, a scheme can invest in instruments which are not available to small investors due to the prohibitive minimum requirements. These include treasury bills, commercial papers, real estate and high price share; • Benefits paid out before retirement ages are subject to punitive taxation rates compared to benefits paid at retirement. Also, retirement benefit schemes do not pay tax on the investment income they earn. An individual investor will pay hefty withholding tax on all the dividends, interest, rent or profits that you may earn.

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  • View organization page for Kiota, graphic

    622 followers

    Based on experience, we believe that financial professionals serving MSMEs are also disseminators of financial knowledge. Many MSMEs do not have financial statements, and some are not even transparent or do not follow standard procedures. So, we have to educate them all the basics, including the importance of employee engagement and credit lines and the benefits of savings, and keep them posted on the supporting policies and tax incentives of the state. Account managers of inclusive finance should be familiar with all the above-mentioned information and they take on many social responsibilities beyond financial ones. #kiota #inclusive #finance #MSMEs

    View organization page for Abojani Investment, graphic

    10,240 followers

    Micro, Small, and Medium Enterprises (MSMEs) are the backbone of Kenya's  economy, contributing significantly to innovation and economic growth. According to  the Kenya National Bureau of Statistics (KNBS) Economic Survey 2022, MSMEs  account for 33.8% of the national output and are pivotal in realizing Vision 2030  development aspirations, particularly in trade, manufacturing, agriculture, tourism, and financial services. Eunice W. Kinyanjui I&M Bank Ltd

    We Need More Digital and Innovative Financial Solutions for MSMEs  Beyond Credit

    We Need More Digital and Innovative Financial Solutions for MSMEs Beyond Credit

    Abojani Investment on LinkedIn

  • View organization page for Kiota, graphic

    622 followers

    Part-time employees have historically faced barriers to accessing their company’s retirement plan. Prior to Kiota, only 19% of part-time private sector workers had access to a plan, compared to 77% of full-time employees. However, the introduction of the Kiota Flexi-Saver has enabled more part-time employees to save for their futures. This platform represents a significant shift towards inclusive #retirement planning, expanding accessibility for more employees to save for their future, including long-term, part-time #employees. To learn more about the new resource, check out our website www.mykiota.com

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  • View organization page for Kiota, graphic

    622 followers

    Currently set at KES 240,000 per annum (or KES 20,000 per month), the proposed Finance Bill 2024 amendment seeks to raise the non-taxable limit for contributions to KES 360,000 per annum (or KES 30,000 per month). Yes. A 50% INCREASE! This adjustment is expected to incentivize individuals and employers to retire ready as a higher portion of their contributions will be tax-exempt. As the retirement landscape evolves, it is essential for individuals and businesses to stay informed and adapt their savings strategies accordingly. https://lnkd.in/dTV2rvxP #kiota #retirement #financebill #2024

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  • View organization page for Kiota, graphic

    622 followers

    Our product designer, Stephen Owoko talked about mentorship and his journey. Steve has played a monumental part in Kiota and mentoring our young team.

    View organization page for YUX Design, graphic

    6,445 followers

    🌟NEW ARTICLE ALERT🌟 Our UX Researcher Sasha Oseadeyo Ena Ofori interviewed Stephen Owoko: The Mechatronic engineer who found his passion in UI/UX design! In this interview, Learn about his journey, thoughts on the evolution of UX communities in Uganda and the role of mentorship in shaping his career. Read the full article and drop questions to Steven! Link in comments 🗣️ We've extended our survey on the State of UX in Africa for another week - share your experiences to contribute to shaping the future of UX in Africa. 🌐💡 Don't miss out, click the link in caption to participate! 👉 #SoUXRAfrica2023 #UXResearch #AfricanDesignCommunity #SurveyExtended #uganda #UIDesigner #engineer #UX #Design #UXDesign

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