Moody's Credit Rating : A Modest Upgrade

Hello 👋🏽 It's Brian from The Kenyan Wall Street.

In today's newsletter…

• Moody's has released its credit rating for Kenya…we highlight how it compares to the outlook by Fitch ratings.

• Del Monte’s appeal to have over KSh 6 billion in taxes owed to the state has flopped.

These and more…

Moody's Credit Rating : A Modest Upgrade 

By Harry Njuguna

Moody’s has taken a more generous view of Kenya’s financial outlook, upgrading the country’s credit rating after Eurobond buybacks reduced the risk of a near-term default. The agency read higher foreign-exchange reserves and improved market access as evidence that immediate funding stress has eased.

Days ago, Fitch ratings presented a more cautious analysis choosing to affirm Kenya at B- rather than upgrade it. While Fitch acknowledged stronger liquidity and successful liability management, it kept its focus on rising debt service, weak revenue collection, and persistent fiscal slippage.

In effect, Moody’s judged Kenya by how far it has moved from the brink, while Fitch judged it by how far it still has to go. Both agree that reserves and refinancing have bought time but differ on whether that time amounts to genuine credit improvement.

Read the article here >>>>>

Del Monte’s Books Invite Tax Scrutiny

By Brian Nzomo

Del Monte Kenya finds itself in the crosshairs of tax authorities, not for what it does, but for what it claims it earns. The Tax Appeals Tribunal recently dismissed the company’s challenge to a multi-billion assessment, siding with Kenya Revenue Authority’s (KRA) insistence that the fruit processor underreported its income. KRA’s skepticism hinged on the scale of Del Monte’s local operations that seemed at odds with the modest profits declared. The pineapple processor insisted its pricing and internal charges were legitimate, yet the evidence failed to convince the tribunal. In short, the company’s own financial transparency, or lack thereof, became its undoing.

Read the full article here >>>>>

Coming Soon!

This coming week, Andrew Barden, CEO of The Kenyan Wall Street will moderate a webinar session will examine how global institutions are quietly reshaping the crypto market and what this evolution means for Kenya. Register your attendance here »»»»»

INSIGHT : Kenya’s School Enrollment Soars, but Weak Skills Pipeline Threatens Workforce Quality

By Fred Obura

Kenya has largely won the battle of school enrollment, but it is quietly losing the war over learning. Nearly all children are now in classrooms, yet a troubling share reach upper primary unable to handle basic reading or arithmetic expected years earlier. The problem is most acute in numeracy, where progress has stalled despite curriculum reform and rising education spending. What emerges is not a story of access denied, but of schooling that fails to translate presence into proficiency. For a country betting its future on human capital, the gap between attendance and understanding may prove costly.

Read the full article here »»»»»

Upcoming Events : KenInvest Announces the Upcoming Kenya International Investment Conference (KIICO) 2026

Taking place at the Radisson Blu Upper Hill on March 25, 2026, the 4th Kenya International Investment Conference (KIICO) 2026 is set to be the largest and most impactful investment promotion conference in Kenya’s history.

Key areas of focus during KIICO 2026: Agriculture, Finance, Economic zones and Textiles & Apparel, Information and Communications Technology (ICT) and Business Process Outsourcing (BPO), E-mobility, Clean Cooking, Renewable Energy, Waste Management, Mining, and the Creative Economy.

During KIICO 2026, Kenya will also host the 2nd COMESA Investment Forum on March 26 and the Africa Green Industrialization Initiative (AGII) on March 27th.

Read more about it here »»»»»

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