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Nation Media’s New Billionaire Boss
Kenya's #1 newsletter among business leaders & policy makers
Hello 👋🏽 It's Brian from The Kenyan Wall Street. In today's newsletter edition…
After 66 Years, Aga Khan Waves Goodbye to Nation Media Group.
An Economist argues that failure to invest in drainage infrastructure allows annual rainfalls to wreck Nairobi's economy.
Stanbic weathers interest rate storm with flat profit and record dividend
Nation Media’s New Billionaire Boss
By Harry Njuguna
Tanzanian billionaire Rostam Azizi
After 66 years in the driver’s seat, the Aga Khan Fund for Economic Development has quietly sold its controlling stake in Nation Media Group to Tanzanian billionaire Rostam Azizi. Once the poster child of an independent press, NMG now passes from colonial-era stewardship to a mogul whose fingers are in energy, aviation, and Swahili media. The price remains a secret, but with NMG shares languishing near KSh 13, the deal signals both a sentimental exit and a wager on a digital-first future. Regulators still have a say, and Azizi has no plans to chase minority shareholders…at least not yet.
Read the full article here >>>>>
NMG Ownership structure as of Dec 2024
KRA Scraps 'Blacklist', Admits It Punished Honest Businesses
By Brian Nzomo
The Kenya Revenue Authority (KRA) has ordered the removal of thousands of businesses from a controversial “Special Table” compliance list after admitting it had been misused against legitimate taxpayers. The tool, originally designed to flag VAT fraud schemes such as missing trader networks, often froze refunds, blocked tax compliance certificates, and effectively shut firms out of government tenders. Under new rules, the list will be restricted strictly to clear tax-fraud cases and require higher-level approvals before any taxpayer is added.
Read the full article here »»»»»
Fragmented Payment Systems are Slowing Africa's Trade
The 2026 Inclusive Fintech Forum in Kigali
By Fred Obura
Africa’s digital economy is booming, but moving money across its borders can still feel like navigating a maze. Speaking at the Inclusive Fintech Forum 2026, Rwanda’s trade minister Prudence Sebahizi warned that fragmented payment systems and uneven regulation are quietly throttling the promise of the African Continental Free Trade Area (AfCFTA). The fix, policymakers say, lies in aligning rules and infrastructure so that sending money across Africa is no harder than sending it abroad.
Read more here >>>>>
Stanbic’s Profits Hold Still
Stanbic's Profit After Tax over the years
By Harry Njuguna
In a year of interest rate turbulence, Stanbic holds steady, proving resilience is sometimes more profitable than growth.
Financial Snapshot:
🟢 Profit after tax flat at KSh 13.72 Bn, supported by a 47.5% drop in credit impairments.
🔴 Total operating income slipped 3.1% to KSh 38.51 Bn, with net interest and non-interest revenue both contracting.
🟢 Balance sheet expanded 19% to KSh 541.25 Bn, driven by 24.4% loan growth and 23.5% rise in deposits.
🟢 Dividend per share rose 7.8% to a record KSh 22.35.
Read the full article here >>>>>
On Your Watchlist
Is Black Tax a cultural responsibility or a financial trap for young Kenyans? In the Pilot episode of Wall Street Mtaani, we hit the streets of Nairobi to hear the Gen Z vs. Gen X debate on Black Tax. Our host Charity Hudini, engages financial expert Linda Makatani (Finance for Families), who breaks down how to balance family support with building your own generational wealth.
OPINION : When It Rains in Nairobi, It Pours on the Economy
By Prince Muraguri
A violent downpour turned parts of Nairobi into rivers, killing dozens and sweeping away homes, cars, and livelihoods. But the deeper story is not the rain…it is years of underinvestment in drainage and urban infrastructure finally coming due. As debt service consumes most tax revenue, development spending has shrunk, leaving cities exposed to increasingly intense storms. Each flood now lands not just as a disaster, but as a direct shock to the economy that drives much of Kenya’s GDP.
Read the opinion article here >>>>>
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Today in History
Seven taxi drivers were shot dead by Administration Police Service officers in Dagoretti after a dispute between taxi operators and boda boda riders escalated into one of Kenya’s most controversial police-involved killings
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