In this episode recorded on December 2, 2025, and hosted by Ramah Nyang, we host economists from the World Bank to unpack the latest Kenya Economic Update.Guests:—Ryan Kuo - Economist, World Bank—Jorge Tudela Pye - Country Economist, World Bank.

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Show Notes

00:00:00 Introduction

00:03:00 Macroeconomic Developments and Outlook

00:05:40 Competition and Structural Reforms

00:09:32 Challenges in Tax Revenue and Fiscal Policy

00:16:19 SOEs and Market Competitiveness

00:24:50 Impact of Electricity Prices on Competitiveness

00:28:05 State Support, Governance, and Efficiency in SOEs

00:35:14 Telecommunication Sector Analysis

00:45:22 Macroeconomic Stability, Trade-offs, Challenges, and Solutions

00:52:33 Closing Thoughts

In this episode recorded on December 10, 2025, and hosted by Ramah Nyang, we are joined by George Kuria, CEO of SanlamAllianz Kenya. We explore the transition to the new brand and what customers should expect going forward.

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Show Notes

00:00:00 Introduction

00:00:42 The Sanlam-Allianz Merger

00:03:23 Understanding the Protection Gap

00:04:41 Targeting New Market Segments

00:08:17 Challenges and Opportunities in Agriculture Insurance

00:10:12 Insurance for Large Infrastructure Projects

00:14:24 Governace Structure

00:15:05 Regulatory and Capital Considerations

00:17:37 Expanding Insurance Penetration

00:20:53 Leveraging Technology for Better Service

00:24:22 Customer Assurance and Future Outlook

In this episode recorded on December 09, 2025, and hosted by Terryanne Chebet, we discuss building financial and business resilience in 2026 and the role of general insurance.

Guests:— James Kamau - Group Head of Distribution, AAR Insurance

— Kiriinya Kithinji - Head of Strategy, WYLDE International

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Show Notes

00:00:00 Introduction

00:03:19 Business Resilience

00:08:34 Top Priorities SMEs

00:10:32 Common Risks and Blind Spots for Individuals

00:15:23 Vulnerabilities and Protecting Businesses Financially

00:26:05 Balancing Growth and Stability for SMEs

00:29:03 Rapid Urbanization, the Gig Economy, and Shifting Customer Needs

00:34:37 Choosing the Right Insurance Coverage

00:37:15 Leveraging Networks and Planning for Household Preparedness

00:42:19 Final Thoughts and Actionable Steps

In this episode recorded on October 30, 2025, and hosted by Joe Mwaniki, we are joined by Terry Muli, Senior Tax Manager at Deloitte, and Ann Magondu, an international tax expert, as we discuss managing KRA audits, what triggers them, taxpayers’ rights, handling assessments, and transfer pricing.

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Show Notes

00:00:00 Introduction

00:01:11 Understanding KRA Audits

00:03:20 Frequency and Scrutiny of Sole Proprietorships

00:07:05 Triggers for KRA Audits

00:14:54 Document Retention and Statutory Periods

00:18:09 Notification and Initial Steps in KRA Audits

00:21:50 Common Mistakes and Best Practices

00:26:01 Audit Modalities

00:28:02 Conclusion of the Audit Process

00:33:31 Valid Notice of Assessment

00:36:35 Notice of Objection

In this episode recorded on October 23, 2025, and hosted by Julians Amboko, we are joined by Dr. Samuel Tiriongo, Director of Research & Policy - Kenya Bankers Association, as we unpack the revised risk-based credit pricing model anchored on KESONIA and what it means for banks, borrowers, and the economy.

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Show Notes

00:00:00 Introduction

00:04:52 Risk-Based Pricing and Transition to a Unified Base Rate

00:23:28 Impact, Market Governance, Risk-Scoring, and Safeguards

00:34:31 Interest Rates and Fiscal Dominance

00:39:35 KESONIA Minus

00:42:05 Net Interest Margins and Risk Assessment for the Unbanked

00:46:26 Transition Timelines and Bank Preparations

00:52:56 Fixed vs Variable Rate Loans

00:57:52 Global Examples and Regional Leadership

00:59:45 Closing Thoughts

In this episode recorded on November 20, 2025, we are joined by the I&M Holdings’ CFO, David Ngata, as we break down the comapny’s Q3 2025 results. We cover performance in the regions, CBK’s new pricing framework, capital allocation, shareholder returns, and future outlook.

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Show Notes

00:00:00 Introduction

00:02:28 Overview of Q3 25 Financial Results

00:03:51 Regional Subsidiaries’ Performance

00:08:30 Kenyan Market Performance

00:13:16 I&M’s Value Proposition

00:19:28 Net Interest Income and Non-Funded Income

00:22:07 CBK’s New Pricing Framework

00:26:17 OpEx and CapEx Plans

00:30:54 Capital Allocation and Shareholder Returns

00:34:15 Reflections, Future Outlook, and Closing Remarks

In this episode recorded on September 4, 2025, we are joined by the Nairobi Securities Exchange CEO, Frank Mwiti, to discuss the state of the NSE. We cover key stakeholders in Kenya’s capital market, NSE’s performance, data accessibility, market Inclusivity, and future strategy.

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Show Notes

00:00:00 Introduction

00:06:21 Overview of the Nairobi Securities Exchange (NSE)

00:14:48 Key Stakeholders in Kenya’s Capital Market

00:20:10 Investing in the NSE: Process and Strategy

00:29:22 NSE’s Performance

00:38:58 Addressing Data Accessibility and Investor Relations

00:45:27 Fractional Trading and Market Inclusivity

00:48:17 Lower Commissions and New Listings

01:12:40 Handling Distressed companies

00:17:45 CEO’s Vision and Future Strategy

In this episode recorded on December 1, 2025, and hosted by Ramah Nyang, we unpack Safaricom’s KES 15B Medium Term Note. We cover green bonds, pricing, liquidity in the market, and use of proceeds rom the MTN

We are joined by:

* Silha Rasugu — Emerging & Frontier Capital LLP

* Gregory Waweru — SBG Securities

* Birju Sanghrajka — Standard Chartered

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Show Notes

00:00:00 Introduction

00:02:06 Understanding the Green Bond

0:06:51 Pricing and Market Conditions

00:09:14 Liquidity in the Bond Market

00:13:44 Creating an Efficient Capital Structure

00:19:05 Advantage of the MTN over Vendor Financing

00:24:46 Impact of the Debt on Dividend Policy

00:28:14 Future of Corporate Bonds in Kenya

00:34:27 Conclusion and Final Thoughts

In this episode recorded on September 11, 2025, we are joined by Capital A Investment Bank’s Senior Research Analyst, Ronny Chokaa, as we unpack and break down the H1 2025 results of Kenyan banks.

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Show Notes

00:00:00 Introduction

00:01:01 High-Level View of H1 Bank Earnings

00:03:03 FX Stability and Impact

00:06:27 Interest Margins and Impact of Central Bank Policies

00:13:16 Credit Growth Trends

00:21:12 Profitability and Dividend

00:25:27 Spotlight on Specific Banks

00:38:35 Core Capital Requirements

00:44:04 Closing Thoughts

In this episode recorded on November 04, 2025, we are joined by EABL’s CFO, Risper Ohaga, and Absa Bank’s Director of Capital Markets, Robert Murai, as we unpack EABL’s KES 20B Medium-Term Note, why the brewer is back in the debt market, and what it means for its funding plans and investors.

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Show Notes

00:00:00 Introduction

00:00:54 Working Capital Management

00:02:13 Debt vs Equity in Financing a Business

00:05:11 Financial Performance

00:07:18 Redeeming and Issuing Debt, Investor Participation, and Key Dates

00:21:36 Corporate Bond Market in Kenya

00:25:56 MTN Structure, Secondary Trading, Investor Sentiment, and Market Liquidity

00:29:06 Debt Levels and Balance Sheet Management

00:32:31 Corporate vs. Government Bonds

00:34:31 CapEx and Working Capital

00:38:19 Interest Rates, Tax Implications, Cash Flow and Debt Repayment

00:41:09 Closing Remarks and Final Thoughts