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Kenya's Power Play...
Kenya's #1 newsletter among business leaders & policy makers
The Kenyan government has unveiled a new strategy that aims to banish blackouts and harness more energy — armed with trillions in shillings, lofty promises, and the enduring hope that this time, the wires will hold…
Welcome to today's newsletter edition. We have compiled the most insightful business stories to kickstart your weekend… I am Brian from The Kenyan Wall Street.
KENYA'S POWER PLAY : Trillions to tackle Blackouts
In an ambitious KSh 2.5 trillion plan, Kenya’s government is betting big on an energy overhaul that spans oil and gas, geothermal, and renewables, while promising to tackle the nation’s chronic power blackouts.
The 2023–2027 energy strategy outlines drilling 111 geothermal wells, expanding electricity access to millions, and revamping the distribution network with smart meters and preventive maintenance. The Ministry of Energy is also reviving interest in nuclear power and e-mobility, while seeking to monetize carbon credits and geological data.
With past hurdles like fuel theft, infrastructure costs, and pandemic disruptions still looming, the plan leans on PPPs, global partnerships, and fiscal reforms for liftoff. If successful, it could redefine the country’s energy footprint—and perhaps its economic resilience. Read more here >>>>>
Today's Poll
Where do you think Kenya's Energy prosperity lies? |
JUMIA’S LOSS STREAK CONTINUES : Perhaps, A New Strategy?
The African e-commerce battleground is getting more competitive and Jumia is learning how to bleed more slowly. After years of staggering losses, the company has tightened its belt and doubled down on its consumer base. Now, it’s betting that focus, frugality, and logistics will carry it past rivals — the prominent Chinese dragon, Temu.
Financial Breakdown:
🔴 Reduced losses to $16.5 million in Q1 2025, down from $39.6 million in Q1 2024.
🔴 Total revenue declined 26% to $36.3 million.
🔴 Gross profit dropped 36% to $19.9 million.
🔴 Overall Gross Merchandise Value (GMV) fell 11% to $161.7 million.
CAPITAL MARKETS
🟢 The Capital Markets Authority has licensed Meridian Asset Management and Swala Capital. This brings the total number of Kenyan fund managers to 45, and approved two special funds under Ndovu Wealth within the Taifa Unit Trust.
🟢 Kenya Re will look to seek shareholder nod to set up a Tanzania subsidiary at its AGM on 20th June 2025. Other Agendas: approve FY2024 financials, declaration of KSh 0.15 final dividend, director-ship changes, auditor reappointment, and the ratification of governance policies. Book Closure is slated for 20th June 2025 and dividends will be paid on 1st August 2025.
NSE Gainers And Losers
Source : NSE
LIQUIDATION : Troubled KUSCCO to Auction 50 Properties in June
The Kenya Union of Savings and Credit Co-operatives (KUSCCO) is preparing to auction off a portfolio of real estate assets in a nationwide campaign, with 50 properties slated to go under the hammer in June. The sale will unfold in three phases scheduled for 5th, 10th, and 13th June, spanning multiple counties including Nairobi, Kiambu, Kisumu, Kajiado, Machakos, Mombasa, and Kakamega. Continue reading »»»»»
Briefs
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Yesterday's Poll Results
Do you think Kenya Airways will remain profitable this year?
🟩🟩🟩🟩🟩🟩 Yes (80%)
🟨⬜️⬜️⬜️⬜️⬜️ No (20%)
The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.
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.