After the turmoil...

Ashes, blood, destruction. The aftermath of Wednesday protests rings across Kenya’s cities like a warning shot in an atrophied republic. What began as a memorial turned into chaos that saw businesses gutted, and a government sealing its ears with legislation.

I am Brian from The Kenyan Wall Street and this is today's edition of our daily newsletter…

☹️ The Morning After the Turmoil

What began as a solemn remembrance of last year’s Gen-Z-led protests against the Finance Bill curdled into a wave of chaos, looting, and grief. Across Nairobi, Nakuru, Nyeri, and beyond, demonstrators clashed with police as shops were ransacked and lives lost, eclipsing the day’s original purpose. The state’s response; media blackouts, plainclothes arrests, and digital throttling, seemed less aimed at calming the nation than silencing it.

Traders in Nairobi’s OTC, Koja, and Pipeline areas awoke to shattered storefronts and missing inventory, the aftermath of a night where opportunism bled into activism. Scenes echoed across towns like Thika, Githurai, and Nakuru, where looters struck before police could mount a defense. As whispers grow that some of the violence may be state-orchestrated, many business owners wonder if neutrality, or even shuttered doors, can still buy safety amid civil action.

Even as cities burned and tear gas hung in the air, President Ruto quietly signed the Finance Bill 2025 and the Appropriation Act into law. Parliament, undeterred by unrest, pushed through a third supplementary budget, raising the fiscal ceiling beyond Treasury’s limit. With KSh 4.042 trillion now inked into motion, the machinery of state rolls on…oblivious, perhaps, to the fire at its gates.

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📈 A Bullish Market in the Eye of a Storm

By Harry Njuguna

Even as protests flared across major cities in Kenya on the anniversary of last year’s tax unrest, the Nairobi Securities Exchange (NSE) posted its strongest performance in three years. The NASI closed at 148.50, lifting year-to-date gains to over 20%, with large-cap stocks leading the charge. KenGen, Kenya Power, and NCBA all hit multi-year highs, shrugging off the political volatility that sent foreign investors fleeing. Turnover fell and net foreign outflows reversed previous gains, but local sentiment appeared impervious to the noise outside the trading floor. Read it here >>>>>

🛠️ The Machinery of Reform

By Fred Obura

In a decisive move to overhaul Kenya’s struggling public sector, the Cabinet has approved two reform-minded bills aimed at curbing corruption and inefficiency. 

The Government-Owned Enterprises Bill, 2025 redefines how state corporations are managed, introducing merit-based leadership appointments and curbing political patronage.

Meanwhile, the Public Procurement and Asset Disposal (Amendment) Bill, 2025 brings e-procurement to the fore, replacing opaque systems with digital transparency. Read it here »»»»»

Insight 

How Kenyan Investors Are Rethinking Wealth

By Fred Obura 

In a market battered by uncertainty and ambition alike, Kenyan investors are finding new confidence in the old wisdom of diversification. From gated apartments to government-backed money markets, asset classes are no longer just products, they are stable lifeboats. The Kenyan Wall Street gathered three of the sharpest minds in local finance to unpack what’s working, what’s shifting, and where to find resilience amid risk. This isn’t just about chasing returns; it’s about building a portfolio that can survive both a market crash and a morning commute. If you’ve ever wondered what the smart money is doing behind closed doors, read the article here »»»»»

NSE Gainers And Losers

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Opinion 

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