The Mwango Capital Podcast

In this episode recorded on March 31, 2026, and hosted by Terryanne Chebet, we are joined by SBM Bank’s Magdalene Mwende and Duncan Kiberu to unpack financial literacy for Kenya’s next generation.

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Show Notes

00:00:00 Introduction

00:04:42 Starting Financial Literacy Early

00:16:06 Debunking Kenyan Money Myths

00:23:40 Teaching Financial Literacy in a Cashless World

00:30:33 Building Habits and Work Ethic

00:39:35 Longterm Impact of Financial Literacy in Children

00:45:16 Staying Safe in the Digital Space

00:48:02  Role of Giving in a Child’s Financial Education

00:50:24 Product Roadmap and How to Sign up onto Busara App

In this episode recorded on March 26, 2026, we break down I&M Holdings FY2025 results with the CFO, David Ngata.

We unpack earnings drivers, balance sheet shifts, subsidiary performance, and outlook heading into 2026

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Show Notes

00:00:00 Introduction

00:03:30 FY 2025 Highlights and Restatement of 2024 Financials

00:08:13 Interest Income, Customer Deposits, and Loan Growth

00:16:22 Wealth Management, Asset Quality, and NPLs

00:20:15 OpEx, CapEx, and Regional Performance

00:27:55 Capital Allocation, Digital Banking, and AI

00:33:30 Impacting Communities

00:35:20 Banking App, AI in Lending, Loans to Related Parties, and Governance

00:39:30 Increased Investment in G-Secs, Rates Outlook, and Strategy

00:42:49 Life Advice and Closing Remarks

In this episode recorded on March 19, 2026, and hosted by Ramah Nyang, we unpack Kenya’s debt situation.

Our panelists:

* Churchill Ogutu - Economist, IC Group

* Benard Njiri - Senior Research Analyst, IPF

* Stellar Swakei - Senior Research Analyst, Kingdom Securities

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Show Notes

00:00:00 Introduction

00:01:33 The Debt Transparency Problem and Why Fiscal Consolidation Fails

00:09:17 Securitization, Supplier Debt, And Pending Bills

00:23:19 IMF’s Pushback against Securitization and Lessons from Ghana

00:26:44 Ringfencing and Revenues/Proceeds Disclosure

00:32:02 Securitization Lessons from 2008 Financial Crisis

00:40:20 Auditing Kenya’s Debt

00:46:22 Tanzania’s Debt Transparency Model

00:51:56 Why Governments Avoid Transparency?

00:56:42 Tanzania’s Single Treasury Account

00:58:24 The Transparency Risk Premium

01:01:24 Policy Changes to Enhance Debt Transparency

In this episode, recorded on March 11, 2026, we dissect the FY 2025 results for Stanbic Holdings with the Chief Financial and Value Officer, Dennis Musau.

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Show Notes

00:00:00 Introduction

00:00:47 Group Structure and Strategic Pillars

00:10:48 Top Line and New Loan Pricing

00:16:42 Interest and Non-interest Revenue

00:21:54 Why Invest in Stanbic

00:24:36 Costs, NPLs, and Risk Management

00:29:13 Loan Growth, Profitability, and Dividend Policy

00:35:24 S. Sudan, SBG Securities, and Bancassurance

00:40:06 Capital Buffers and Mergers & Acquisitions Strategy

00:47:11 AI in Banking Operations

00:51:20 Outlook and Closing Thoughts

In this episode, recorded on March 4, 2026, we are joined by the Absa Bank Kenya CFO, Yusuf Omari, as we take a deep dive into the bank’s FY 2025 results.

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Show Notes

00:00:00 Introduction

00:00:53 What Makes a Good CFO?

00:01:54 Overview of the FY2025 Results

00:03:54 Loan Demand, NPLs, Risk Outlook, and Rate Stability

00:08:38 FX and Non Funded Income Growth

00:10:18 Cost Efficiency, Tech, and Investment in Gov’t Securities

00:13:23 CIB Competition and Consolidation

00:15:18 Group CEO Ambitions, M&A Strategy, and Value Proposition

00:20:31  Profitability and Dividend Strategy

00:24:29 Branch Strategy, Insurance, and Asset Management

00:29:33 Regulation, Benchmark Rates, SME Sentiment, and 2026 Outlook

00:34:34 Key Takeaways and Closing Thoughts

In this episode, recorded on February 4, 2026, we deep dive into Kenya’s recent Moody’s rating upgrade with David Rogovic, VP & Senior Credit Officer at Moody's Ratings.

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Show Notes

00:00:00 Introduction

00:03:27 Methodology in Ratings

00:06:59 Kenya’s Upgrade Explained

00:10:18 FX Reserves, KES Stability, Market Access, and Buybacks

00:16:51 Securitization, Domestic Borrowing, and Revenue Risks

00:25:16 Outlook and Key Risks

00:29:04 How does Kenya compare to Peers on Debt Distress?

00:32:09 Public Private Partnerships and the Macro-Micro Divide

00:37:31 ESG Scores and Ratings Withdrawal

00:41:24 Key Takeaways and Closing Remarks

In this episode, recorded on February 24, 2026, we dive deep into Ziidi Trader. We break down what it is, how it works, and what it means for investors.

Our guests:

* Aliya Khanbhai - Head of Wealth and Insurance, Safaricom

* Gitau Macharia - Product Owner Wealth Management, Safaricom

* Eric Ruenji - Founder and Chairman, Theo Capital Holdings

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Show Notes

00:00:00 Introduction

00:07:40 Ziidi Trader and its Key Differentiators

00:11:51 Omnibus Structure and Share Ownership

00:17:59 Onboarding, Fees, and Trading Costs

00:23:03 Backend Execution, Liquidity, and Market Hours

00:33:34 Order Matching, Cancellations, and Dividend Payout

00:37:21 Order Book, Reversals, and Nominee Voting

00:41:48 The Future of Ziidi Trader

00:44:31 How To Buy Shares

00:51:46 Access for Investors in the Diaspora

00:55:31 Customer Support, Trading Limits, Market Risk, and Investor Education

01:02:17 Closing Remarks

In this episode recorded on January 26, 2026, we break down what lies ahead for markets and the economy in 2026.

Guests:— Churchill Ogutu - Economist, IC Group— Stephanie Kimani - Economist— Stellar Swakei - Senior Research Analyst, Kingdom Securities Limited

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Show Notes

00:00:00 Introduction

00:01:25 2025 Macro Highlights

00:10:15 IMF Programs, China Debt, and Liability Management

00:14:57 Corporate Borrowing and MSME Access to Finance

00:18:19 Debt, Securitization, Equity Markets, and the NSE Rally

00:32:53 Domestic Debt, External Borrowing, and Crowding Out

00:38:49 The Budget Cycle

00:45:57 FX and Interest Rates

00:50:02 Kenya Pipeline IPO and Gov’t’s Sale of Safaricom Stake

01:02:05 Closing Remarks

In this episode recorded on February 3, 2026, we host Risper Genga, Group CFO at EABL, for a discussion on the company’s H1 FY26 results and the key drivers behind its sales and profitability.

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Show Notes

00:00:00 Introduction

00:03:10 Sales Growth, Consumer Trends, and Regional Performance

00:11:27 Volume-Price Mix, Margins, and Cost

00:16:30 Taxation Challenges

00:20:04 Cash, Working Capital, and Dividends

00:26:14 CapEx, OpEx, and FX

00:29:21 Debt Management and the MTN Issuance

00:38:08 Increasing Receivables, the Asahi Deal, and Looking Ahead

00:44:01 Illicit Brews, Premiumization, and Regional Growth

00:47:50 Leadership Reflections

In this episode recorded on February 9, 2026, we host the Kenya Pipeline Company (KPC) Managing Director, Joe Sang, and Faida Investment Bank’s, Dr. Belgrad Kenne, to break down the KPC IPO and discuss its implications to investors.

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Show Notes

00:00:00 Introduction

00:05:04 KPC Overview

00:11:31 KPC’s Business Model & Financials

00:17:34 The Role of Transaction Advisors in an IPO Process

00:23:33 Offer Details and Valuation

00:44:11 Dividend Policy and Board Structure

00:47:06 Risks and Strategic Plans

00:59:27 Key Dates and Invitation to Participate in the IPO

01:07:04 CapEx Plans and Future Growth

01:11:52 Closing Remarks