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No Spending Limits for State House, Deputy President
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Hello 👋🏽 It's Brian from The Kenyan Wall Street.
In today's newsletter,
Records from the Treasury reveal that State House and the Office of the Deputy President have overspent their budgetary allocations.
We also take a look at how land prices are faring in different areas across Nairobi…
No Spending Limits for State House, Deputy President
State House Nairobi
By Brian Nzomo
In Kenya’s latest fiscal accounts, austerity appears to have been unevenly applied. While state departments responsible for roads, housing, and drought response struggled to access funds, State House Kenya and the Office of the Deputy President of Kenya exceeded their budgets by wide margins, quietly expanding their administrative footprint. The imbalance reveals a government that has continued to fund its center even as its periphery has been forced into suspension. Development spending meant to build, irrigate, and prepare has slowed to a fraction of its intended pace, overtaken by the immediacy of salaries, debt, and executive maintenance. The result is a fiscal landscape in which the machinery of the state remains fully powered, even as its future-facing ambitions dim.
Read the whole analysis here >>>>>
How Nairobi's Property Market Looks like
By Fred Obura
In Nairobi, land in established districts like Kilimani and Upper Hill still commands hundreds of millions of shillings, yet prices barely moved in the second half of 2025, reflecting a market that has paused rather than fallen. Data from BuyRentKenya shows the more consequential movement elsewhere, where buyers are turning to peri-urban areas such as Juja and Isinya, drawn by lower entry prices and improving infrastructure. Apartment prices in core neighborhoods like Kilimani and Westlands softened slightly as new supply entered the market, while standalone houses in Ruiru, Kitengela, and Juja posted modest gains of up to 6%. The result is a property market defined less by decline than by redistribution, as demand shifts outward even while prime urban land retains its high nominal value.
Read the whole article here >>>>>
The Banks to be Listed at the Ethiopian Exchange
By Harry Njuguna
Six of Ethiopia’s largest private lenders, including Dashen Bank and Bank of Abyssinia, have moved closer to listing on the Ethiopia Securities Exchange after receiving approval in principle. The milestone allows them to proceed with final disclosures and registration with the Ethiopian Capital Market Authority before shares can begin trading. The listings will mark the first meaningful expansion of the exchange since its launch in 2025. Because commercial banks dominate Ethiopia’s financial system, their entry will serve as the exchange’s first real test of investor participation and market function.
Read more here >>>>>
Tatu City Bets on a Wildlife Sanctuary
By Fred Obura
Tatu City Limited has proposed building a wildlife sanctuary within Tatu City, expanding its model beyond real estate into conservation tourism and hospitality. The plan, submitted to National Environment Management Authority (NEMA) for approval, includes wild habitat zones, a safari lodge, a pangolin rehabilitation centre, and cultural and recreational facilities. The sanctuary would embed conservation infrastructure inside one of Kiambu County’s fastest-growing urban developments while introducing recurring tourism and hospitality income.
Read more here »»»»»
On Your Watchlist
Are you working hard but still feel like you’re stuck in a financial prison? In this episode of the ‘Just Money Podcast’, Stan Agacho and Val Njoroge break down the invisible "Social Approval Trap" that keeps the middle class broke.
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Upcoming Events : InvestKenya 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. Register here »»»»»
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 »»»»»
Today in History
China launched a brief but intense border invasion in Vietnam after the South East nation invaded Cambodia and aligned itself with the Soviet Union. The Chinese attack was repelled in nine days.
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