Not so fast : TransCentury, Equity Bank, a suspension

Kenya's #1 newsletter among business leaders & policy makers

June 23, 2025

Monday has begun with some massive upset in the Kenyan stock market; the suspension of shares trading in TransCentury Ltd.

Also take a glance at how the National courier service, Posta, is pissing off clients and blunting its e-commerce edge…

I am Brian from The Kenyan Wall Street and these are our day's business stories:

Leading Stories

🚫 Not So Fast: How Equity Bank Undercut An NSE-Comeback

Just days after celebrating a hard-earned return to profitability, TransCentury Plc and its subsidiary, East African Cables, have been suspended from trading on the Nairobi Securities Exchange.

The move follows the appointment of receivers and administrators by Equity Bank, a development that now threatens to undo what had been hailed as one of the market’s most remarkable turnarounds. TransCentury, once beleaguered, had posted a KSh 580 million profit and surged 187 percent on the exchange, only to find itself mired again in litigation and financial limbo.

The company alleges that Equity Bank sabotaged key financing deals, including a US$15 million term sheet from Norfund, in what it describes as a pattern of calculated disruption. A court had acknowledged the firm’s good faith and temporarily restrained the bank’s actions, but the tide has shifted. Read it here»»»»»

Bonds 

T-Bills Debt Crosses KSh 1 Trillion Again, Securities Top 6 Trillion for the First Time

Kenya's T-Bills surpass KSh 1 trillion for the first time since 2019 as total domestic debt hits a record KSh 6 trillion in June 2025.

kenyanwallstreet.com/t-bills-debt-crosses-ksh-1-trillion-again-securities-top-6-trillion-for-the-first-time

Banking

Paul Russo Succeeds John Gachora as Chair of Kenya Bankers Association

Paul Russo has been elected Chairperson of the Kenya Bankers Association, replacing John Gachora, amid loan pricing reform talks with CBK.

kenyanwallstreet.com/paul-russo-succeeds-john-gachora-as-chair-of-kenya-bankers-association

NSE Gainers & Losers

Source : NSE

🚚 Posta Kenya Faces Backlash Over E-Commerce Delivery Failures

By Melanie Minayo

Kenyans ordering items from platforms like AliExpress and Shein are increasingly frustrated with Posta Kenya. Complaints range from delayed and damaged parcels to lack of tracking and poor communication. Despite a KSh 100 handling fee, customers report making repeated trips to post offices with no updates. Some discover packages have been misplaced or misrouted. Real-time tracking and SMS alerts are absent.

As trust erodes, shoppers are turning to private couriers willing to pay more for reliability and transparency. Posta’s legacy and reach remain prominent but in a digital economy, it’s becoming a dinosaur. Read it here »»»»»

 🤑 Kenyans Shift to Formal Savings as Chamas Decline

By Harry Njuguna

Kenya’s saving habits are changing. According to the FinAccess 2024 report, 68% of adults now save money, down from 74% in 2021, but more are doing so formally. Bank usage has climbed to 60.2%, while mobile money holds at 35.9%. Informal channels like chamas and home safes have sharply declined. Home saving is now at just 16.2%, down from 55.7% in 2009.

The gender gap in savings has nearly closed, and rural areas are catching up fast. Meanwhile, saving for daily needs and education is falling, while long-term goals like retirement and business are rising. Counties like Nairobi and Kajiado lead in formal savings, while Baringo and Trans Nzoia saw steep drops. Kenya’s financial behavior is formalizing, even amid economic strain. Read it here »»»»»

🛡️ Kenya to Deploy National Firewall Network

By Brian Nzomo

Kenya is upgrading its digital defenses with a new national firewall system, following a wave of high-profile breaches targeting government systems. Backed by World Bank funding, the procurement includes perimeter and internal firewalls, DMZ units, and centralized monitoring tools. These will form the backbone of a new cybersecurity network operated by the ICT Authority. The move comes as cyberattacks surged in 2024, exposing vulnerabilities in platforms like the Business Registration Service (BRS) and e-Citizen. While the tools aim to protect critical infrastructure, their centralized nature raises concerns about potential overreach and mass surveillance. Read it here »»»»»

Nairobi-Based African Stream to Shut Down Amid Platform Bans, Accusations of Kremlin Ties

African Stream, a Nairobi-based digital media platform that challenged Western narratives on African geopolitics, will shut down in July

kenyanwallstreet.com/nairobi-based-african-stream-to-shut-down-amid-platform-bans-accusations-of-kremlin-ties

Remittances Hit a Record US$ 440M in May, Full Year on Pace to Surpass US$ 5B

Kenyans living and working in diaspora sent home USD 440.08 million in May 2025, the second‑largest monthly inflow of remittances ever.

kenyanwallstreet.com/remittances-hit-a-record-us-440m-in-may-full-year-on-pace-to-surpass-us-5b

AAR Insurance Enters Motor Vehicle Cover Market, Eyes Synergy with Medical Plans

AAR Insurance has announced its entry into Kenya’s private motor insurance space, as it targets cross-bundling of services.

kenyanwallstreet.com/aar-insurance-enters-motor-cover-market-eyes-synergy-with-medical-plans

Opinion 

The Early Stages of ESG in Ethiopia's Banking Sector

For Ethiopian banks, now is a critical moment to embrace ESG -not to mimic the West, but to carve a context-specific path.

kenyanwallstreet.com/the-early-stages-of-esg-in-ethiopias-banking-sector

On your watchlist

Last Friday's Poll Results

Do you think the Finance Bill 2025 should have been passed?

🟩🟩🟩🟩🟩🟩 Yes (53%)

🟨🟨🟨🟨🟨⬜️ No (47%)

Keep up with what’s happening on our X and LinkedIn pages. Stay updated with the latest financial news on our website The Kenyan Wall Street.