Cytonn's House of Cards

Happy New Week👋🏽 from The Kenyan Wall Street.

In this Monday morning brief:

Cytonn’s Appeals Dismissed as Courts Confirm Over KSh 11 Billion Investor Exposure

By Harry Njuguna

 The Court of Appeal has dismissed all appeals linked to the failed Cytonn High Yields Solutions (CHYS) and Cytonn Project Notes (CPN) schemes, confirming that more than KSh 11 billion collected from over 3,000 investors was sunk into unregulated vehicles now under liquidation.

The rulings upheld the High Court’s finding that investor funds were channelled into Cytonn-controlled SPVs without security, proper governance or regulatory oversight. The liquidator is expected to proceed with valuations, preservation and sale of the properties to recover money for investors, with secured creditors such as SBM Bank retaining priority over charged assets. Read More»»»

AfDB Rallies Stock Exchanges to Reinvent Africa's Financial Future

By TKWS Desk

The African Development Bank Group (AfDB) has urged capital market players to help bridge the financing gap for the continent's development needs.

At an inaugural session at the AfDB headquarters in Abidjan, the continental lender gathered African development finance institutions and private sector financial players to forge a blueprint for a New African Financial Architecture.

The AfDB plans to support regulatory authorities, stock exchanges and intermediaries; and diversify savings mobilisations and market participants to promote product liquidity and deeper markets. Read the story here »»»»»

More in Markets

OPINION

Africa’s Opportunity in the Era of Artificial Intelligence

With AI rapidly shifting from simple automation to independent, agentic systems, Linda Saunders, Country Manager & Senior Director Solution Engineering, Africa at Salesforce, argues that Africa’s success will depend on establishing five core organisational functions.

These five functions, from governance to workforce integration, give organizations the structure they need to use AI safely and effectively. Without them, AI is guesswork; with them, it becomes a genuine driver of growth.

Can we, as Africans, afford to miss this opportunity to make meaningful change on a continent that knows too well the price we pay for being left behind? Read More »»»

On Your Watchlist

Our host, Just Ivy Africa, sits with Gertrude Njeri, Community Manager at HISA, and investment educator & financial content creator Stormzy Mwendwa, to explore the lessons learned from their toughest losses and the strategies that turn market fear into opportunity.

More News and Insights