The Mwango Capital Podcast

In this episode recorded on 27.02.2025, we are joined by analyst and investor, David Kigunda, to explore his journey from Kenya to Wall Street and back.

We cover his path to business school, transitioning to Wall Street, networking, a comparison between US vs Kenyan markets, key lessons on global markets, and investment strategies.

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Show Notes

00:00:00 Introduction

00:02:12 Path to Business School and Wall Street

00:04:38 Navigating Business School Applications

00:10:02 Learnings from Business School

00:15:01 Networking and Overcoming Challenges

00:25:39 Financing Business School

00:28:13 Transition to Wall Street

00:36:25 US vs Kenyan Markets

00:40:04 Returning to Kenya

00:47:21 A Guide to Analyzing Banks

00:50:58 The Future of Financial Analysis and AI

00:56:36 Closing Thoughts

In this episode recorded on 10.04.2025, we are joined by the Kenya Mortgage Refinance Company CEO & MD, Johnstone Oltetia, to unpack the mortgage process and clear up common misconceptions about homeownership.

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Show Notes

00:00:00 Introduction

00:01:00 Affordable Housing Challenges

00:07:07 Home-Ownership Market In Kenya

00:11:47 Facilitating Mortgages

00:20:12 Fixed Single-Digit Interest Rates

00:25:19 Myths, Misunderstandings, and Misconceptions about Mortgages

00:33:46  Kenya Mortgage Guarantee Trust

00:45:10 Closing Remarks

In this episode recorded on 26.03.2025 and hosted by Ramah Nyang, we are joined by the I&M Bank Kenya CEO, Kihara Maina, and CFO, David Ngata, to break down the bank's 2024 performance.

We cover demand for credit, regional performance and diversification, non-performing loans, M&A opportunities, strategic challenges, and growth opportunities.

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Show Notes

00:00:00 Introduction

00:01:17 FY 2024 Performance Highlights

00:03:08 Loan Book Trends and Credit Demand

00:07:24 Digital Lending and Customer Engagement

00:12:00 NPLs, Regional Performance, and Growth Opportunities

00:17:01 Future Growth, Interest Rates, and Monetary Policy

00:25:07 Regional Diversification, Sector Growth, and M&A Opportunities

00:33:51 Wealth Management Trends

00:35:31 Challenges and Strategic Concerns

00:41:59 Balancing Cash Reserves and Dividend Payouts

00:43:46 Closing Remarks

In this episode recorded on 20.03.2025, we host the Absa Bank Kenya CFO, Yusuf Omari, to break down Absa Bank's 2024 performance.

We cover revenue growth, cost management, investments in digital transformation, capital requirements, acquisition strategy, and the company’s future outlook.

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Show Notes

00:00:00 Introduction

00:01:03 Yusuf’s Career Journey

00:03:56 Short-Term vs Long-Term Loans

00:06:47 FY24 Financial Performance

00:09:48 Revenue Growth, Cost Management, and Efficiency

00:16:26 Asset Quality and Loan Losses

00:21:16 Economic Environment, Profitability, and Balance Sheet Insights

00:29:01 Dividends, Capital Requirements, and Acquisition Strategy

00:34:14 Investments in Digital Transformation

00:37:12 Medium and Long-Term Goals

00:43:29 Personal Reflections, Professional Growth, and Future Outlook

In this episode recorded on 21.03.2025 and hosted by Ramah Nyang, we are joined by Boniface Kamiti, Manager - Consumer Protection at the Competition Authority of Kenya, to discuss consumer protection in Kenya.

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Show Notes

00:00:00 Introduction and Overview of CAK’s Role

00:07:11 Key Consumer Rights

00:09:21 Common Issues and Recourse

00:13:08 Digital Lending and Non-Disclosure

00:25:45 Procedures and Advice to Consumers

00:37:07 Final Thoughts and Contact Information

In this episode recorded on 25.02.2025, we are joined by Absa Life Assurance Kenya Managing Director and Principal Officer, Githanji Waiguru, to break down life insurance and its role in securing your financial future.

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Show Notes

00:00:00 Introduction

00:02:15 Cultural Influences in Insurance

00:04:49 Journey of Absa Life in Kenya

00:11:59 Relationship with Absa Group

00:13:32 Low Insurance Penetration in Kenya

00:21:44 Assurance vs Insurance and Basic Concepts in Life Assurance

00:27:39 Products for Freelancers and Support During Difficult Times

00:34:19 Investment Component in Assurance

00:35:50 Solutions for Chamas

00:37:30 Premiums and Affordability

00:41:16 Getting Started with Absa Life

00:42:43 Future Outlook and Closing Remarks

In this episode recorded on 06.03.2025 and hosted by Ramah Nyang, we are joined by Stanbic Holdings' Chief Financial & Value Officer, Dennis Musau, to break down the banks’ FY 2024 performance.

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Show Notes

00:00:00 Introduction

00:00:38 Cost of Funds

00:02:41 Net Interest Margins and Private Sector Credit Growth

00:09:31 Impact of Tax Policy

00:12:48 NPLs and Recovery

00:20:26 Rate Transmission and Risk-Based Pricing

00:26:46 Risk Exposure on the G2G Oil Import Arrangement

00:31:57 Agriculture Sector Outlook

00:35:39 FX Risks and Commodity Exports

00:37:32 South Sudan Oil Exports

In this episode recorded on 07.02.2025 and hosted by Ramah Nyang, we are joined by Churchill Ogutu - Economist at IC Group, and David Rogovic - VP and Senior Credit Officer at Moody’s, to discuss credit ratings and their impact on African economies.

We also cover their significance, perceived bias, impact on debt restructuring, and the feasibility of an African credit rating agency.

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Show Notes

00:00:00 Introduction

00:01:53 Credit Rating Basics

00:06:33 Significance of Ratings in Investing

00:10:36 Perceived Bias in Credit Ratings

00:12:22 Changing the Outlook

00:15:26 Data Quality Challenges

00:27:35 Impact of Debt Restructure on Credit Rating

00:30:49 Feasibility of an African Credit Ratings Agency

00:37:46 Final Remarks

In this episode recorded on 30.01.2025 and hosted by Nicole Njuguna, we are joined by Co-operative Bank’s Diaspora Banking Manager, Edison Mochiemo, to discuss the top investment opportunities available for diasporans.

We cover the various products tailored for them, common challenges encountered, emerging investment trends, and exiting investments.

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Show Notes

00:00:00 Introduction

00:01:10 Investment Opportunities Available in Kenya for Diasporans

00:06:38 Common Challenges and Mitigation Strategies

00:15:06 Best Return on Investment Options

00:18:27 Preferential Rates and Incentives

00:20:28 Emerging Investment Trends

00:22:39 Products Tailored for Diasporans

00:25:53 Partnerships

00:27:54 Exiting Investments and Succession Plans

00:34:04  Loans For Investment

In this episode recorded on 05.02.2025, we host EABL’s CFO, Risper Ohaga, as we unpack the firm’s half-year 2024/25 results in detail. We cover the impact of macroeconomic factors on the company’s operations, supply chain management, capital expenditure, and the focus in 2025.

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Show Notes

00:00:00 Introduction

00:01:20 Impact of Macroeconomic Factors

00:04:31 Top-Line Growth

00:08:47 Impact of Tax Changes

00:14:12 CAPEX

00:16:28 Dividends

00:18:40 Payables and Receivables

00:20:09 Supply Chain Management, Ethanol Sourcing, and Global Tariffs

00:25:38 Premium Brands and Consumer Spending

00:29:00 2025 Focus Areas

00:32:59 Reflections and Final Thoughts