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51 pc of Kenyans not listed in health insurance schemes – study

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A study commissioned by People’s Health Movement Kenya (PHM-Kenya) now indicates that up to 51 per cent of Kenyans do not have medical insurance.

The study was conducted by Infotrak Research and Consulting between September 10 to 14.

The survey findings released by Infotrak Chief Executive Officer Angela Ambitho on Monday shows that 51 per cent of Kenyans don’t own a medical insurance cover while 49 per cent have some sort of cover.

This means, majority of Kenyans dig into their pockets to pay for health services.

According to the research, National Health Insurance Fund (NHIF) was singled out as the medical cover with the widest coverage at 89 per cent.

Universal Health Coverage (UHC) card is held by about 8 per cent of Kenyans while 5 per cent have personal health cover.

Another 5 per cent have employer-provided medical covers. County government medical covers’ penetration was reported at 1 per cent.

Four in ten Kenyans in the Universal Health Coverage pilot counties have registered for a UHC card translating to 42 per cent.

Notably, UHC registration is highest among those aged between 56 to 65.

Most Kenyan households were found to have spent at least Sh10,000 annually to cater for healthservices.

The surveyors went ahead to interview respondents on the provision of healthcare services.

From the findings, only 28 per cent of Kenyans feel that healthcare provision by both national and county governments is good.

40 per cent of Kenyans feel healthcare is poor while 32 per cent rated it at average.

The research established that Kenyans are aware that health is a devolved function, and therefore a responsibility of county governments, and in addition county governments should bear the responsibility for payment of healthcare services.

Poor medical services have been cited as the main reason for not accessing health services from health facilities by most Kenyans, followed by inadequate healthcare facilities.

A sample of 1,200 respondents was interviewed in 24 counties. A boost sample of 1,056 interviews was conducted in the 4 counties piloting UHC namely Machakos, Nyeri, Isiolo and Kisumu.

By Capital FM


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Business

How I made my first million

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At what age did you make your first million? 

I was 19.

How did you make it? 

I was running a creative design and printing agency. I bid for and won an order to design and print marketing materials for a global NGO which has offices in Kenya.

How did you spend or invest it? 

I re-invested most of it into the business by buying more machinery to reduce costs associated with outsourcing. I also set up a new business with a friend – a movie shop in Nairobi CBD.

The biggest money mistake you have ever made? 

Setting up the movie shop was the greatest money mistake – but I picked up two of the greatest business lessons. One, to never divest too early, and only invest in a business you understand well.

What is the best investment you have ever made?

 I would say investing in myself and in my exposure through travel. Travel has made me see endless possibilities for innovating new products, business models and solutions in the African market. A combination of the international exposure and strong local market understanding is priceless.

What is the worst purchase you have ever made? 

The movie shop. I bought a ready business that I did not understand and it went crumbling down. We eventually closed it a few months later.

If you had a spare million or two, where would you invest it right now?

I would invest it in my current business – a software technology company. This is because I believe the business has potential to become a great success.

What is the biggest money lesson you have learnt about growing it and making it work for you? 

Initially, we all have to work for money. However, I have learnt that the wealthy person has learnt how to make money work for them, through consistently investing what one earns.

Where do you learn about finances? 

I read a lot of books about real success stories from entrepreneurs because I believe entrepreneurship is a great way to create wealth, while creating value in the society. I also stay curious to learn about different investment vehicles because I know I shouldn’t put all my eggs in one basket.

Any financial myths you think should be busted? 

Money is not the root of all evil; greed may be. Money is a good thing because it can create freedom and prosperity, if well spent.

What two personal finance rules do you follow? 

Live within your means; and work to make money as a tool to accomplish real goals. Real goals are not just about making “enough” money, because it is almost impossible to define “enough.”

Investing or saving…Which one carries more weight?

Investing. However, they go hand to hand as saving to invest is acceptable.

One can get rich easily… but how does one stay rich? 

By constantly making calculated investment risks, and always striving to be wealthy, not rich.


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LET’S HOLD HANDS WITH OPTIVEN FOUNDATION

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By helping someone achieve their dream,
You are well on your way to achieving your own dream!

Together with partners like you, the Optiven Foundation is changing one life at a time, by reaching the most vulnerable and meeting their needs. Because the needs are growing daily, we are open to hold hands with you and make our world a better place. Make your donation to Optiven Foundation via Paybill 898 630, Account name: Mobility

For more info, call us on +254 718 77 60 33 or info@optivenfoundation.org
www.optivenfoundation.org
#TransformingLives
#RestoringDignityof Senior citizens
#SharingHopewithOptiven


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By going the solar route, I save Sh140,000 per month, says restaurateur

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Kenya Power was in the news recently complaining that their clients are increasingly transitioning to use of solar energy.

Solar has emerged as a favourite source of power to many homeowners due to its reliability and low cost compared to electricity.

But that is not limited to homes as businesses are also embracing solar energy.

One such business is the new Café Deli branch along Koinange Street.

When the restaurant relocated from Kenyatta Avenue in September, Mr Obado Obadoh, the Managing Director and founder of Nanjala Ltd –the parent company that owns the chain of restaurants — says he wanted to have glass roofing at his new establishment.

This, however, came with its challenges and the option turned out to be expensive since, apart from the glass roofing, they would need ultraviolet (UV) light protectors.

For humans, suntan and sunburn are familiar effects of exposure of the skin to UV light, along with an increased risk of skin cancer.

Solar panels are installed at New Cafe Deli along Koinange Street in Nairobi in this file photo.

Amina Wako | Nation Media Group

But, after consultations with experts, Mr Obado settled for solar panels.

“When we were designing the Koinange Street branch, we had experts come in and give their opinions. With the Covid-19 situation, we were also looking for ways to cut costs. With solar, we spent less money than all the other available options,” Mr Obado told the Nation.

“When the costing was done by the quantity surveyor, it came down to almost half of what we would have spent on putting up the glass roof.”

Savings important

 

To Mr Obado, saving even a shilling means a lot and so solar was the welcome option.

“At the Kenyatta Avenue (branch), the cost of electricity per month was between Sh250,000 and Sh280,000. Based on the plan we have, we will use Kenya Power as a backup. This means we will save close to Sh140,000 which is half of what we used to pay before,” he said.

 Mr Omondi Lumbe, the electrical contractor who was in charge of the project, says he installed 96 panels on the roof that coves 250 square meters.

“The panels produce close to 33 kilowatts per hour and are in use for eight hours a day, hence produce close to 264 kilowatts daily,” said Mr Lumbe, who is a partner at Kev & Lum Construction and Electrical Company Ltd.

Solar panels are installed at New Cafe Deli along Koinange Street in Nairobi in this file photo.

Amina Wako | Nation Media Group

To avoid more spending, they opted to use solar power directly instead of using batteries to store more energy.

Today, Café Deli only relies on Kenya Power services for between three and four hours, which is mostly at night when the solar panels are off.

“We are only using Kenya Power at night for three to four hours. That means solar power will be used for most of our 12 hours,” Mr Obado said.

He also has plans to install the solar panels at his other branches on Moi Avenue and Nkurumah Lane, Behind Kencom in Nairobi’s Central Business District.

Business effects

 

This is, however, not the first time the businessman is opting to go the solar power route.

Six years ago, when he wanted to install electricity at his rural home in Busia, he says he was slapped with a quotation of Sh800,000.

“I thought about it and wondered why I would pay such a high figure, buy a transformer which is going to be Kenya Power’s property, and still pay them every month. I settled for solar panels and it’s a decision I don’t regret,” he said.

According to Mr Obado, the high cost of power in Kenya has rendered businesses uncompetitive compared to other countries in East Africa.

The new Cafe Deli along Koinange Street in Nairobi, which uses solar energy.

Amina Wako | Nation Media Group

Café Deli has joined several companies, universities and factories that have turned to solar power  and, in the process, cut operational costs.

This, according to Kenya Power, has dealt a blow to their already dwindling finances.

“The company operated in a challenging environment over the financial year under review, where demand growth at 3.7 per cent remained below the projected level of five per cent. The dampened demand growth is further compounded by increased threats of grid defection by the industrial category as decentralised renewable energy options are becoming more available and cheaper,” Kenya Power revealed in its latest annual report.


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