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Banking and Finance in Nairobi: What do you need to know?

15 local experts
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From retail banking to investing, here's what 15 local experts had to say about finance in Nairobi.

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Know how to use MPESA. This payment works for everything in Nairobi. It works by allowing users to store and transfer money in a virtual account linked to their phone number and SIM card. Users can deposit and withdraw cash at authorized agents, such as shops, kiosks, or banks, or use their phones to send money to other users, pay for goods and services, or access loans and savings

Lilian, says: 2023

If you are moving to Nairobi you should know that although it’s in Africa you can have access to modern services like internet, Uber, good hotels and restaurants. Some parts of the city are relatively quiet and safe. However, there are some places with security challenges, especially at night. The first thing you need is a mobile phone line. It will make your navigation around easy as even payment for purchases and taxi can be made via the mobile phone. As a visitor make your movements during the day until you get comfortable. Change your money to local currency as it’s much easier to make payments.

Esther, says: 2022

When someone moves to Nairobi, he/she should prioritize learning the national language, Swahili. This will ease communication barriers and encourage the locals warm up to you. In addition, the understanding of local currency is vital. One can easily be conned when not sure of how much to pay for an item or service.

Sheldon, says: 2020

Most people in my city talk in Kiswahili which is the main language. There are a lot of traders and it’s very busy place. Our currency here is Kenyan shillings. It is the only city with a game park and it has exclusive hotels.

Tabitha, says: 2020

Nairobi is the capital of Kenya. Its weather is quite nice and favourably. it has a national park within which is very affordable for both citizens and tourists. As for housing, this will depend on the budget at hand since there is a wide variety of houses. Schools are also in plenty and there are various malls to buy stuff from thus making Nairobi a really nice place.

It is a very good place to move because there are so many essential services including banks, hotels, good roads and the environment is friendly too. Our city has security every part. The people living there are friendly too. Water is available throughout.

Nairobi is the capital of Kenya. It is the most expensive city East Africa, as the cost of living is higher than other East African Capital cities. Most local and international companies in Kenya prefer to set their base in Nairobi, as it is the business and financial center in Kenya.

Taylor, says: 2020

Nairobi is the capital of Kenya, it is the financial hub of the country and most business formal or inform choose it over any other counties for cross county transactions. It has a sustainable road and rail carriage in and out. With a centralized transport point for major up-country regions. The weather is more of a tropical region and one should expect warm summers and cool winters.

Before moving to Nairobi, one should ensure that they live or find accommodation in a safe neighborhood with easy access to public and social amenities. One should also consider getting a mobile money account, also known as an M-Pesa account, to avoid the hassle of cash or credit card transactions.

Natasha, says: 2020

Considering moving to Nairobi? Know where they will be residing. This will depend on your budget. Affordable housing ranges from $150 upwards in safe estates which have good stores that sell almost everything. You should also know that in this city one drives on the left. Nairobi is probably the only city with a game park in the whole world.

Lesley, says: 2020

The weather is quite different and can affect people used to colder weather. Mobile banking is preferred to petty cash. There are many ways to move across the city ranging from taxis to matatus. Internet is available in most areas. There are many restaurants and tourist attractions.

Samuel, says: 2020

Nairobi is a business hub where all businesses thrive from the banking industry to tertiary industries. Secondly we have most of the government services based in Nairobi, a good example being the UN habitat headquarters in Gigiri. We also feature the largest National Park in the world, Nairobi National Park.

Malcolm, says: 2020

In Nairobi, you should always follow Traffic Lights rules when driving within the city and its environs. You should also know in Nairobi, the only accepted currency is Kenyan Shillings so you would need to convert any other currency to Kenyan Shillings before using it. The weather is also cool and the environment is so beautiful. We have so many hotels and restaurants where you can enjoy the various African delicacies.

Nairobi is one of the most expensive cities in Africa. Before taking the plunge, you need to ensure you have enough funds to cover basic necessities such as housing, healthcare and transport as these tend to take a huge chunk of your budget.

Beatrice, says: 2020

Nairobi is a beautiful city that isn’t given the credit it deserves online, so don’t be put off by others’ opinions. It is best experienced in person, because it has something for everyone. Being the only capital city in the world that is home to a national park, the wilderness is juxtaposed with a sprawling city in the most magnificent way.

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