Open a business bank account
Mixing personal and business money is the #1 mistake first-time sole props make. Open a dedicated business account this week — it makes tax filing, loans, and selling the business years from now infinitely easier.
Documents most banks will ask for
- Original + copy of Certificate of Registration (BN/3)
- Original + copy of your national ID
- Original + copy of your KRA PIN certificate
- 1–2 passport photos
- Initial deposit (KES 1,000–10,000 depending on bank)
- Proof of business address (utility bill, lease, or landlord letter)
Banks worth comparing
- Equity Bank — wide branch + agent network, strong for cash businesses
- KCB — solid for tender/contract receipts
- Co-operative Bank — good for SACCO-linked traders
- NCBA, ABSA, Stanbic — better digital UX, higher minimum balances
- M-Pesa Pochi la Biashara / Lipa na M-Pesa Till — pair with the bank account for daily takings
Get a Lipa na M-Pesa till in the business name. It separates customer payments from your personal MPESA and gives you a clean monthly statement KRA accepts.
The information in this guide is provided for general guidance only and is subject to change. Fees, timelines, and regulatory requirements in Kenya are updated regularly. Before acting, please confirm details with the relevant authority (KRA, eCitizen, BRS, county government, or other regulator) or speak with a qualified MyBiashara advisor. MyBiashara is not liable for decisions made solely on the basis of this content.
