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NSSF Billions in Limbo...
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The National Social Security Fund is grappling with a financial minefield, as unresolved claims, disputed assets, and decades-old defaults threaten to erode over KSh 15.6 billion from its balance sheet.
I am Brian from The Kenyan Wall Street and these are our day's business stories:
Main Stories
Contested Assets : NSSF Billions in Limbo…
The National Social Security Fund is staring down a financial storm, with KSh 15.6 billion entangled in unpaid employer contributions, contested properties, and unresolved fraud. Over KSh 12.6 billion in uncollected dues and penalties remain off the books, while legal wrangles over land in Karura Forest and Lenana School add further strain. An additional KSh 1.2 billion is being pursued from fraudulent dealings with Discount Securities, and a KSh 904.9 million tax refund awarded by the High Court in 2016 remains unpaid. Meanwhile, legacy woes from Euro Bank’s 2003 collapse and a spate of compensation claims, from Nyayo Estate contractors to a Sacco in Eldoret, underscore the Fund’s legal quagmire. The pension firm's ability to recover billions now hangs in the balance. Read here >>>>>
Mi Vida Homes : A New Bet on Nairobi’s Skyline…
In a move that signals rising confidence in Kenya’s affordable housing sector, Mi Vida Homes has sold a substantial portion of its KEZA Riruta development to a domestic institutional investor. The deal, focused on the second phase of the 1,100-unit project off Naivasha Road, follows a precedent set in 2023 with an international private equity firm. With phase one nearing handover in September, the project blends green design with affordability—targeting first-time buyers and young professionals. For Kenya’s capital markets, it’s a signpost: real estate, once niche, is fast becoming a serious investment vehicle. For Mi Vida, it’s further proof that housing can be both a social good and a durable asset class. Read here >>>>>
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Data Watchdog Plans Far-reaching Institutional Inspection Next Year
In a sweeping new initiative, the Office of the Data Protection Commissioner (ODPC) is launching nationwide inspections targeting the education, hospitality, and property management sectors to enforce data privacy compliance. The campaign follows a rising tide of complaints and recent high-profile penalties, including fines levied against Nova Pioneer Kenya and Oppo for data breaches. Data Commissioner Immaculate Kassait emphasized that the inspections are collaborative, not punitive, aiming to embed a culture of privacy and trust across industries. With growing public awareness of digital rights and escalating cyber threats, the ODPC hopes to shift businesses from mere legal compliance to proactive data stewardship. Read here »»»»»
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