East Africa: Vibes, Views, and Ventures...

Hello 👋🏿 It's Brian from The Kenyan Wall Street

In today's newsletter, we look at how the regional bloc — East Africa — intends to revamp its tourism fortunes. We also look at the status of Resolution Insurance years after going under administration.

These and more business stories right here…

TOURISM  

East Africa’s Grand Tourism Power Play

The East African Community (EAC) is stepping up its tourism game by making its debut as a collective entity at ITB Berlin, the world’s biggest tourism trade fair. With the catchy slogan "Visit East Africa: Feel the Vibe," the bloc aims to lure 11 million tourists by 2027 by showcasing its breathtaking landscapes, cultural wealth, and bucket-list-worthy wildlife. Leaders hope that presenting East Africa as a seamless multi-destination experience will attract both adventure-seekers and investors. From the Great Migration to Mount Kilimanjaro, the region’s natural wonders are ready for their global spotlight. In short, the EAC wants to make sure that when travelers think of their next great escape, East Africa is at the top of the list. More on this story»»»»»

Today's Poll

Yesterday's Poll Results 

Do you think unlisted banks facing a market cap shortfall ahead of the CBK deadline have a chance to ramp their figures up with listing?

🟩🟩🟩🟩🟩🟩 Yes (60%)

🟨🟨🟨🟨⬜️⬜️ No (40%)

FINANCE  

Resolution Insurance : Court Orders Return of KSh 36 million

Resolution Insurance’s liquidation just got messier, with the High Court ordering the Policyholders Compensation Fund (PCF) to return KSh 36 million it wrongfully withdrew. Turns out, PCF had no business moving KSh 122 million around after a liquidator was already in charge. Judge Alfred Mabeya wasn’t amused, calling out the Fund for acting “rogue” and favoring some creditors over others. PCF tried to justify its actions, claiming it was just covering legal bills, but the court reminded them that post-liquidation cash moves need approval. More on the story »»»»»

CAPITAL MARKETS  

Umeme Buyout: A Big Bill, Bigger Questions

Ugandan MPs are raising eyebrows over a last-minute $190 million loan request to buy out Umeme before its concession ends on March 30, 2025. The government insists urgency is key to avoid penalties, but critics wonder why this debt is getting VIP treatment while others worth USh 3 trillion gather dust. Umeme, which has already recovered $680 million of its $832 million investment, will soon hand over assets to state-owned UEDCL. Once a darling of the Uganda Stock Exchange, and cross listed on the Nairobi Securities Exchange, Umeme’s shareholder mix has shifted over the years, with Uganda’s NSSF holding the largest stake. With its exit, the power sector’s spotlight now turns to how efficiently the government will run the show. More on this story here »»»»»

REAL ESTATE

Diaspora Shifts Investment from Land to Cash Flow Generating Real Estate

Diaspora investors have found that cash flow yielding assets like apartments, which provide monthly rental income to the owner, are far easier to sell in case of an emergency than idle land.

Andrew Barden explains more incisively in this article »»»»»»

▶️ On your watchlist 

Have a great evening!