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- Nai-robbery : Kenya's role in Gold Smuggling
Nai-robbery : Kenya's role in Gold Smuggling
Kenya's #1 newsletter among business leaders & policy makers
This week, the Monetary Policy Committee (MPC) will convene to set new interest rates. Our eyes are on the CBK, but first…
Nairobi has been exposed as a gold smuggling haven.
I am Brian from The Kenyan Wall Street and these are our day's business stories:
Main Stories
🪙 Nairobi's Shadow Gold Economy
A quiet undercurrent of smuggling is flowing faster than regulators can track in Nairobi. A new SWISSAID report lifts the lid on how regional gold; much of it from South Sudan, the DRC, and Ethiopia — slips into Kenya, only to vanish again en route to markets in Dubai and Mumbai. At the center of it all are many low-profile refineries — some bearing names hinting at Gulf ties — churning untraced gold through Eastleigh’s wholesale corridors and onto international flights. With the proposed Gold Processing Bill still pending in Parliament, the state is playing catch-up to an enterprise that already operates with the speed and discretion of the informal economy. Read here »»»»»
🛒 The Trillion-Shilling Counterfeit Challenge
In the heart of Nairobi’s expansive markets and the clicks of online carts, a hidden threat thrives. One in every five products sold in Kenya is counterfeit. From fake antibiotics to knock off tequila, counterfeiting has woven itself into everyday life, risking health, trust, and livelihoods. Even supermarkets and major e-commerce platforms aren’t spared, blurring the lines between authentic and illicit. It’s a trillion-shilling tale of shadow economies and everyday choices. Read here »»»»»
Your Opinion
The Central Bank Rate (CBR) is currently at 10.00%, after a 75bps cut on April. What’s your prediction for tomorrow? |
🏦 Banks Set to Chase Personal Loans
Kenyan banks are bracing for a sharp uptick in defaults, with personal loans now the most troubled corner of the credit market as non-performing loans surge to a two-decade high of 17.4%. In response, 84% of lenders plan to escalate recovery efforts this quarter, zeroing in on personal and household borrowers battered by a faltering economy. While recovery rates in sectors like manufacturing have improved, defaults remain a growing menace in trade, real estate, and transport. Read here »»»»»
🍔 Burger Joint ‘Mama Rocks’ On the Rocks
Mama Rocks – Burger Kitchen Limited, a Nairobi-based gourmet burger chain, is facing possible liquidation following a petition filed by one of its co-founders, Samantha Amimo Mwedekeli. Continue reading »»»»»
Capital Markets
📈 Sanlam Overtakes CIC in Unit Trust Market
Volume of assets managed by Unit Trusts
The unit trust market has surged to a record KSh 496.2 billion in assets, nearly doubling in two years as over two million retail investors join the fray. Sanlam leapfrogged long-time leader CIC to become the top fund manager, while newcomers like Mansa-X and Ziidi reshaped the landscape with alternative and mobile-first offerings. Dollar-denominated funds gained steam, now holding 11% of total AUM, as investors hedge against local currency risk. Read more »»»»»
NSE Gainers And Losers
Source : NSE
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Last Friday's Poll Results
Do you think it is advisable to expand a business in Kenya right now?
🟨⬜️⬜️⬜️⬜️⬜️ Yes (21%)
🟩🟩🟩🟩🟩🟩 No (79%)
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