Fraud Cartels Exploit Insurance Boom

Good evening from The Kenyan Wall Street. The conflict in the Middle East has greatly affected imports to African countries as supply chains face disruptions. What can the continent learn from this crisis to prevent difficulties in the future?

But first…

Fraud Cartels Exploit Insurance Boom

By Fred Obura

A surge in insurance fraud is rattling Kenya’s fast-growing insurance sector, with newly released industry data showing a near threefold increase in reported cases in just one year, raising fresh concerns over systemic vulnerabilities and weak enforcement. Data from the Insurance Regulatory Authority (IRA) reveals that 82 fraud cases were reported in the fourth quarter of 2025, up sharply from just 29 cases recorded in a similar period the previous year. The spike comes at a time when the industry is expanding rapidly, with total premiums hitting Sh464.7 billion. 

More on Insurance

A Third Loss in a Row

By Harry Njuguna 

East African media conglomerate Nation Media Group has reported a net loss of KSh 308.6 million for the full year ended 31 December 2025, its third consecutive annual loss, as a collapse in print revenues erodes a business that generated over KSh 2.5 billion in net profit just twelve years ago.

• Turnover fell 3.1% to KSh 6.04 billion from KSh 6.23 billion in 2024, with reduced print revenues cited as the primary drag.

• Loss before income tax widened 26.5% to KSh 320.8 million, while earnings per share deteriorated to negative KSh 1.8 from negative KSh 1.5 a year earlier.

The trajectory tracks directly with Kenya's print market collapse with the industry-wide newspaper circulation falling from approximately 117,000 copies daily in 2011 to 39,300 in 2024, a 66% decline in thirteen years.

MARKETS : Foreign Investors Account for Majority of NSE Turnover In Week 17

By Harry Njuguna

The Nairobi Securities Exchange (NSE) pulled back modestly after three consecutive weeks of gains, with all major indices closing in the red.

• Market capitalisation eased 0.50% to KSh 3,434.20Bn from KSh 3,451.45Bn, shedding KSh 17.25Bn in a week marked by renewed geopolitical tension and the return of foreign selling.

• The All Share Index dipped 0.50% to 207.09, the Banking Index led losses at -0.97% to 238.81, and the NSE 20 fell 0.48% to 3,589.13.

• The NSE 25 declined 0.38% to 5,735.29 and the NSE 10 edged down 0.22% to 2,167.55.

• Eaagads led gainers, rising 9.50% to KSh 35.15 and Kenya Pipeline led losers, falling 6.84% to KSh 9.26 after the previous week's 6.88% gain.

Read the full market analysis of Week 17 here »»»»»

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OPINION : The War That Raised Prices Across Africa

Africa’s supply chains are fragile, overconcentrated, and dangerously unprepared for disruption. The Middle East conflict restructured Africa's import costs permanently. From Cairo to Cape Town and Accra to Kinshasa, no business was untouched. What this moment demands is not commentary but adjustment: diversify sourcing (especially within Africa), hold more stock, and integrate geopolitical risk into financial decision-making. Those who do will turn volatility into advantage; those who don’t will keep paying for crises they could have planned for.

John Karani writes >>>>>

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