A layer of pledges...

The Equalization Fund was conceived as the additional grease that will quicken development in marginalized areas. However, despite the existence of legislation meant to guide allocation, the fund has faced a serious shortfall over the years.

I am Brian from The Kenyan Wall Street and these are our day's business stories:

Main Stories.

💸 Layers of Pledges : The Equalization Fund

Parliament is once again promising billions to Kenya’s most neglected regions—KSh 16.8 billion, to be exact—through the Equalisation Fund. Yet, as history has shown, Treasury’s actual release of these funds rarely matches the rhetoric, and this year is no exception. A familiar gap is opening between legal obligation and fiscal reality, with Treasury offering less than two-thirds of the proposed amount. Audits paint a dismal picture: delayed projects, idle infrastructure, and entire communities left waiting for change that never comes. As debate heats up over whether to extend the Fund past its 2030 expiry, the bigger question looms: can equity be legislated? Read it here»»»»»

💰 Finance Bill 2025: The Final Touches

In its latest maneuver, parliament is tightening the fiscal screws on illicit traders and virtual betting empires through the 2025 Finance Bill. A reimagined excise duty now targets betting wallets before the gamble begins—one last tax before your luck runs out. Importers of “raw materials” may soon need to prove their goods aren’t just cleverly disguised conveniences. Meanwhile, counties will toast a KSh 415 billion windfall, wrung from a Treasury reluctant to share the revenue. Read it here »»»»»

🏦 CBK’s Bond Feast 

In a striking display of investor appetite, Kenya’s latest bond auction saw the Central Bank rake in over KSh 71 billion—well above its target. As short-term rates dip, the money has begun to stretch its legs, chasing longer-dated debt for a richer return. With yields brushing 14%, markets are signaling trust—or desperation—in the long game. The Treasury will pocket the difference as public debt quietly fattens. Read it here »»»»»

Explainer : The VAT Special Table in Kenya

Every ambitious entrepreneur in Nairobi is whispering about the “VAT Special Table” — KRA’s quietly growing blacklist that’s not quite a blacklist. It’s the digital limbo where your tax behavior gets scrutinized, your invoices lose power, and your credibility begins to sweat. This isn’t just about missed filings; it’s about being caught dancing when the taxman changes the music. Investors beware: once you're on the list, you're no longer just another business…you’re a question mark. Read it here »»»»»

🪙 Gold, Grit, and Ghana’s Credit Comeback

Ghana is staging a striking financial revival, as a golden windfall and strict fiscal compression earn it a Fitch upgrade from default to 'B-'. With US$1.17 billion from a new gold export programme and a dramatic drop in public debt, Accra is polishing its credibility in global markets. Inflation is falling, GDP is rising, and even the cedi is behaving. But despite this momentum, the weight of interest payments—one-quarter of revenue—still haunts the books. Read it here »»»»»

NSE Gainers And Losers

Also Read…

Opinion 

On your watchlist

Safaricom’s stock has recently experienced bullish activity, briefly crossing a market capitalization of one trillion shillings. According to the company’s CFO Dilip Pal, the surge in investor confidence is attributed to several key factors, ranging from strategic execution to transparent engagement and improved market conditions. Here is more 👇🏽

Keep up with what’s happening on our X and LinkedIn pages. Stay updated with the latest financial news on our website The Kenyan Wall Street.