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Revealed: Only 68,000 Kenyans earn over 100k
Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Only 2.9pc of the workforce. www.businessdailyafrica....6/-/vf30dmz/-/index.htmlThe KNBS report is based on the wages of employees who pay income tax to the Kenya Revenue Authority (KRA). Kenya had a total of 2,370,184 formal sector workers last year, growing by 300,000 in the past four years.
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Rank: Elder Joined: 10/4/2006 Posts: 13,821 Location: Nairobi
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Kenya is a poor corrupt 3rd world country. All Mushrooms are edible! Some Mushroom are only edible ONCE!
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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2.89 per cent of formal sector employees in Kenya "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: New-farer Joined: 3/3/2010 Posts: 79
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Out of 2.3M formal workers, the percentage of those earning >100K has gone up to 2.89% or 68,676 Kenyans. Still the number of mortgage accounts in the entire country is under 20,000. http://www.businessdaily.../-/vf30dmz/-/index.html Knowledge is contagious...Infect truth!
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Rank: Member Joined: 1/22/2015 Posts: 682
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The sobering reality. Forget the posturing of GES Summit members and Instagrammers flossing around. Kenya is a dirt poor 3rd world country.
Even with entrepreneurs, it's a vicious cycle where most SME businesses in Kenya don't make enough to pay employees well due to small market size with disposable income. And the few corporates we have can only pay the managers well as they chase super profits to appease harsh investors. How will we ever get out of the cycle?
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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murchr wrote:2.89 per cent of formal sector employees in Kenya That is definitely in formal employment some of whom still have undeclared side hassles!!! Jua kali hassles, am sure the number would almost be approaching 1m - where bulk of money circulate in the economy (gut feeling observation)!!!! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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This means its better to be a businessperson since im sure there are very many people in biashara whos net income exceeds 100k monthly
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 7/1/2011 Posts: 8,804 Location: Nairobi
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That's around 33$ per day. The hard working and lucky fundi from Kibera and c. earns around 5$ per day.Rent is 0.7$ per day - what I made the whole day yesterday! Food on average is 3$ per day, transport 2$ ...
Poverty levels are grossly misrepresented, and the global financial system is a scam.
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Rank: Member Joined: 12/21/2009 Posts: 602
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Definitely the formal sector which according to This article by Christine Mungai maybe less than 20% of the population in Kenya. Quote from the article: " Despite low wages, unpredictable terms and almost no benefits, the informal sector employs more than three out of four workers in many African countries, including Cameroon (73%) Ethiopia (85%), Sierra Leone (88%), Zimbabwe (84%) and accounts for up to 80% of the new jobs created in economies such as Kenya, Nigeria, and Uganda." Angelica _ann wrote:murchr wrote:2.89 per cent of formal sector employees in Kenya That is definitely in formal employment some of whom still have undeclared side hassles!!! Jua kali hassles, am sure the number would almost be approaching 1m - where bulk of money circulate in the economy (gut feeling observation)!!!!
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Rank: Member Joined: 1/22/2015 Posts: 682
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Angelica _ann wrote:murchr wrote:2.89 per cent of formal sector employees in Kenya That is definitely in formal employment some of whom still have undeclared side hassles!!! Jua kali hassles, am sure the number would almost be approaching 1m - where bulk of money circulate in the economy (gut feeling observation)!!!! Very poor observation. There cannot be 20x more entrepreneurs than employees in Kenya. In any economy the plain employees are the majority. Plain employment is the route most take in life. Also, those people with good side hustles tend to be the ones with high salaries that give them the capital. Personally I think if you added up all the entrepreneurs, side hustlers, expats farmers etc into that equation, there would still be no more than 2-3 hundred thousand people making over 100k. Face facts, we are one of the poorest and most corrupt countries in the world
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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We are still discussing the 100K psychological mark? 100K is about 75K net of PAYE. Look at Nairobi rents and tell me why the 100K employee should be regarded as lucky/comfortable Other expenses: Fare/fuel, Food, School fees, social contributions, clothing 
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Rank: Member Joined: 10/26/2008 Posts: 380
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I do not believe this statistics. We have too many people with money in this nairobi, it cannot be only 2% of employed people earning 75K and more.
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Rank: Member Joined: 1/22/2015 Posts: 682
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Mkimwa wrote:I do not believe this statistics. We have too many people with money in this nairobi, it cannot be only 2% of employed people earning 75K and more. OK, how about this other statistic: out of 187 sovereign countries, we are number 150 in terms of GDP: https://en.m.wikipedia.o...st_of_countries_by_GDP_(PPP)_per_capita I don't mean to be a downer, but facts are facts, Kenya is doing badly. We need to think of ways to sort this mess. Stronger export trade should be top of the list. Diaspora remittances too
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Rank: Member Joined: 1/25/2010 Posts: 344
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the article says civil servants, not all employees http://www.businessdaily...2/-/hyhx40/-/index.html
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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They must have edited it. Whats wrong with these jonalists these days? Anyway, its a trade not a profession. Bure kabisa "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 1/22/2015 Posts: 682
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murchr wrote:They must have edited it. Whats wrong with these jonalists these days? Anyway, its a trade not a profession. Bure kabisa That's a totally different article altogether. @theking what the hell are you trying man?
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Two different articles mjamaa! Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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These numbers are painfully true. punda amecheka
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Revealed: Only 68,000 Kenyans earn over 100k
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