The Mwango Capital Podcast

In this episode, recorded on June 4, 2026, we are joined by Centum Investment Company Group CEO, James Mworia, to unpack the three strategic evolutionary phases of Centum since 2009, the interplay between its real estate and private equity portfolios, and how the company successfully retired its holding company debt to enter a harvesting phase dedicated to driving sustainable shareholder value.

Show Notes

00:00:00 Introduction

00:01:18 Centum Investment Model

00:05:57 Debt Strategy

00:13:54 Real Estate Holdings

00:17:20 Two Rivers

00:24:20 Private Equity Portfolio

00:31:00 Capital Allocation

00:34:59 Share Buyback Program

00:38:29 NAV Gap

00:51:42 Strategy and Pitch

In this episode recorded on May 19, 2026, we are joined by Brenda Mbathi, CEO of TRIFIC SEZ, and Pius Muchiri, MD of Nabo Capital, as we unpack the structure, strategy, and investment opportunity behind the green-focused I-REIT.

Show Notes

00:00:00 Introduction

00:01:30 Broad Overview of TRIFIC

00:04:02 Why a Dollar-Denominated I-REIT

00:08:39 Use of Funds, REIT Structure, and Offer Size

00:18:25 USD Yield Return vs T-Bills

00:21:17 Tenant Mix and Debt Strategy

00:25:12 Green Certification, Demand, and Leasing Pipeline

00:31:21 Investor Interest and Liquidity

00:39:11 Cost Control, Vision, and Scale

00:45:16 Key Details on the I-REIT and Closing Remarks

In this episode recorded on May 12, 2026, we are joined by Car & General (C&G) Chief Executive Officer, Vijay Gidoomal, to unpack the group's FY25 financial performance, the rebound of the boda-boda sector across Kenya and Tanzania, and how the business is navigating EV disruptions and leveraging artificial intelligence to build a competitive moat.

Show Notes

00:00:00 Introduction

00:01:17 Business Streams

00:03:54 Regional Business Footprint

00:08:07 Recovery of the Two-wheeler Business

00:10:41 Margins and Cost Efficiency

00:13:56 Investment in AI

00:23:00 Profitability and Cash Flow

00:24:49 Dividend Policy

00:27:40 EV Market

00:38:13 Closing Remarks

In this episode recorded on May 5, 2026, we are joined by DelMonte Kenya Managing Director, Wayne Cook, as we unpack the company’s 60-year history in Kenya, its KES 100B economic footprint, vertically integrated export model, and its ongoing community relations and sustainability interventions.

Show Notes

00:00:00 Introduction

00:04:04 History of Del Monte Kenya

00:08:14 Del Monte’s Business Model

00:12:48 Local Distribution and Exports

00:14:48 Scale and Economic Impact

00:17:53 Relationship with Fresh Del Monte Group

00:20:36 CapEx and Growth Plans

00:24:39 Community Relations and Human Rights

00:28:06 Sustainability Metrics

00:34:19 Outlook, Innovation, and New Product Lines

In this episode recorded on April 30, 2026, we are joined by SanlamAllianz Life Kenya CEO, Jacqueline Karasha, as we unpack the group’s recent corporate restructuring, FY2025 financial performance, and the strategic opportunities within Kenya’s life insurance and digital pension markets.

Show Notes

00:00:00 Introduction

00:05:15 New Group Structure

00:07:53 Uptake of Life Insurance

00:12:24 Embedded Insurance Products

00:15:41 Akiba Plus Retirement Product

00:18:42 Dividends and Strategy

00:24:12 Digital Distribution

00:28:48 Reaching the Informal Market

00:42:48 Investment of Policyholder Funds

00:47:03 Industry Outlook

In this episode recorded on April 29, 2026, we are joined by economist Stephanie Kimani and the Institute for Public Finance (IPF) team of Dr. Peter Nguhiu, Veronica Ndegwa, and Martin Kabaya, to unpack the credibility of Kenya's budget, the structural constraints of debt service, and the sustainability of health and social protection financing.

Show Notes

00:00:00 Introduction

00:03:16 Budget Credibility Problem

00:05:53 Debt Service Wiggle Room

00:08:04 Healthcare Funding Gap

00:15:05 Tax Proposals to Fund Healthcare

00:27:08 Fiscal Sustainability of SHIF

00:33:02 School Feeding Gaps

00:42:51 Budget Priority Recommendations

00:45:56 Limited Trust in the Domestic Debt Market

00:50:10 Policy Change Recommendations

In this episode recorded on May 6, 2026, we are joined by I&M Bank Group CFO, David Ngata, and SIB Director, Laban Githuki, as we unpack the bank’s KES 20B Medium-Term Note (MTN) programme, its pricing rationale, and capital optimization strategy.

Show Notes

00:00:00 Introduction

00:01:33 I&M Bank’s Balance Sheet

00:03:32 Basics of an MTN

00:10:16 Offer Terms and Dates

00:12:41 Minimum Investment

00:13:55 How the MTN fits into the Bank’s Strategy

00:19:20 Use of Proceeds and Lending Growth

00:24:14 Application, Settlement, and Trading

00:29:01 Asset Quality

00:31:18 Key Details and Final Pitch

In this episode recorded on March 25, 2026, we are joined by the OECD’s Competition Expert, Said Kechida, and the Competition Authority of Kenya’s Director of Policy and Research, Dr. Adano Wario, to unpack competition law enforcement in Kenya and the key lessons from the OECD peer review.

Show Notes

00:00:20 What CAK Does

00:08:04 OECD Peer Review Overview

00:10:39 CAK Policy and Research

00:13:02 Key Takeaways from the Peer Review Report

00:14:34 Strengths and Weaknesses in Competition Law Enforcement

00:19:22 Merger and Acquisition Scrutiny

00:29:56 Fines and Proportionality Debate

00:34:32 Limited Uptake of Leniency Programs

00:38:07 Market Studies and Inquiries

00:49:59 Report Recommendations and Closing Remarks

In this episode recorded on April 15, 2026, we are joined by Stanbic Uganda’s CEO, Mumba Kalifungwa, to unpack the bank's strategic market positioning, financial health, and its role within Uganda's broader economic landscape.

Show Notes

00:00:00 Introduction

00:03:41 Economy and the Banking Landscape

00:05:28 Stanbic Uganda’s Structure

00:09:11 Strategy and Growth Priorities

00:16:20 What Makes Uganda Unique

00:20:45 FY2025 Results

00:25:03 NPLs and Credit Risk Lessons

00:31:22 Cost Efficiency Strategy

00:39:19 Positive Impact Framework

00:48:17 Career Advice and Closing Remarks

In this episode recorded on April 8, 2026, and in partnership with FLLoCA, we discuss climate finance in Kenya.

Our guests:

— Senator Moses Kajwang’ - Homa Bay County

— Peter Odhengo, National Treasury

Host: Ramah Nyang

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Show Notes

00:00:00 Introduction

00:04:45 What Is FLLoCA

00:08:41 Climate Mitigation and Adaptation

00:11:51 Locally Led Solutions, Cost of Inaction, and Access to Climate Finance

00:21:50 Polluters Pay Vs Domestic Financing

00:31:43 Incentives and E-Mobility

00:34:12 County Funds Oversight, Audits, and Carbon Credits

00:47:31 Climate Justice Funding Gap

00:51:38 Tracking Climate Finance and the National Climate Fund

00:56:57 Focus on Mitigation

01:01:53 Dealing with Misuse of Climate Funds