Missing Titles

Hello! It's Brian from The Kenyan Wall Street with the latest edition of our daily newsletter. Below are our stories for the day :

Missing Titles : A Project with Uncertain Land Ownership

Looks like the Affordable Housing dream is missing a crucial piece—land ownership documents. Despite a KSh 49.5 billion investment, the Auditor-General can't confirm how titles will be processed. The government plans to release 5,000 units in April, but it's unclear if they'll come with legal ownership. Meanwhile, a KSh 30.74 billion loan from the International Bank for Reconstruction and Development (IBRD) is mostly untouched, and the government's rent collection is falling short by over KSh 342 million. With targets to build 200,000 units annually, this housing project seems more like a house of cards. More details »»»»»

Today's Poll

Uganda Unplugs Umeme, Reclaims Electricity Control

Uganda is preparing to renationalize its power distribution sector as Umeme Ltd's concession ends on March 31, 2025. The state-owned Uganda Electricity Distribution Company Ltd (UECDL) will take over power distribution, backed by a $190 million loan from Stanbic Uganda to buy out Umeme. An additional $50 million will be invested into operations. This decision comes amid disputes over the buyout amount, with Umeme claiming US$231 million, while the Energy Ministry proposed US$191 million and the Auditor-General estimated US$201 million. The National Social Security Fund (NSSF) of Uganda, which has a 23.2% stake in Umeme, and other shareholders face uncertainty as Umeme's potential delisting from the Uganda Securities Exchange (USE) and the Nairobi Securities Exchange (NSE) looms. More details on this »»»»»

Ecobank Stacks Capital to Beat the CBK Barrier

Ecobank Kenya has pumped KSh 3.5 billion into its core capital, pushing it to KSh 8.5 billion. This is part of a scramble to meet the CBK's new rule that banks must hold a minimum core capital of KSh 10 billion by 2029. The policy is meant to fortify the banking sector against economic shocks, though it might also give undercapitalized banks a few sleepless nights. With its new funds, Ecobank aims to support SMEs, fintechs, and women-led businesses—essentially betting on the "small but mighty" to secure its future. CEO Jeremy Awori calls Kenya a "strategic market," which is probably code for "a place we really don't want to mess up." As banks eye mergers, listings, and partnerships to survive, Ecobank seems determined to stay ahead of the curve. More details»»»»»

Insight : How Artificial Intelligence Is Transforming Financial Services

Artificial Intelligence (AI) is not just enhancing FinTech, it’s redefining the entire financial ecosystem. From automated decision-making and risk modeling to hyper-personalized customer experiences, AI is helping FinTech companies scale with precision and intelligence. Read more »»»»»

Editor's Picks

• Startups. Collapsed startup Marketforce Technologies has been ordered to pay one of its former product managers over KSh 2 million for not following procedure in declaring him redundant. Read more »»»»»

• Startups. An ex-employee of iProcure Limited has withdrawn a lawsuit against the Kenyan agricultural supply chain startup—currently under administration due to financial difficulties. More details»»»»»

• Geopolitics. Somalia has become the 53rd country to join the African Export-Import Bank (Afreximbank) after signing the Establishment Agreement of the multilateral bank. Read more »»»»»

On your watchlist

Last Friday’s Poll Results

Do you agree that consolidating banks will strengthen the financial sector?

🟩🟩🟩🟩🟩🟩 Yes (70%)

🟨🟨⬜️⬜️⬜️⬜️ No (30%)