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- On fortune's trail...
On fortune's trail...
Kenya's #1 newsletter among business leaders & policy makers
Gambling in Kenya is on a meteoric rise. While football betting remains increasingly popular, according to the latest industry report, the new kid on the block — Aviator — has captured a significant chunk of the gambling demographic. As calls for tighter regulation intensify, we analyse the trends…
Good evening! It's Brian from The Kenyan Wall Street. This and more business stories in today's edition of ‘The Daily Brief’
ON FORTUNE'S TRAIL: Kenya’s Changing Gambling Scene
Online gambling
Kenya has dropped to third place in Sub-Saharan Africa’s betting activity, behind South Africa and Uganda. A new 2025 survey by Geopoll shows most Kenyan gamblers (57%) spend less than US$10 monthly, though a small group spends over KSh 65,000!
Football remains the most popular betting option, with 61% of respondents favoring it. Aviator, a fast-paced digital game, is rising in popularity and now leads for 19% of gamblers.
Weekly betting has increased to 35%, while daily betting has slightly declined. In contrast, 22% of respondents reported betting only once a month, and 20% less than once a month. Despite the drop in rank, Kenya remains one of Africa’s most active gambling nations.
Lately, there's growing displeasure with the surge of betting content on social media, where influencers and media glamorize gambling without showing its risks. Many users feel the platforms are enabling addictive behavior, especially among younger audiences. It’s turning what should be entertainment into a dangerous promotion of financial recklessness.
Aviator, especially, is in the spotlight as clamor for tighter regulation intensifies. The escalation of gambling activity has been regarded as an exploitation of financial distress, as many Kenyans resort to exploring ‘luck’ as a way to get rich. When this doesn't happen, more household debt is piled up, families lose income, and in some cases—suicides follow. Here is the full article>>>>>
Today's Poll
Do you think Aviator should be banned in Kenya? |
DIVERSIFICATION: Kenya Considers Gold Reserves
Central Bank of Kenya
The Central Bank of Kenya is exploring adding gold to its reserves to reduce reliance on the US dollar, as gold hits record highs above $3,500 an ounce.
Currently, Kenya holds only 20 kilograms of gold, but surging prices and global central bank demand are prompting a rethink. Governor Kamau Thugge confirmed feasibility studies are underway, though no timeline has been set.
This move aligns with legislation to formalize Kenya’s gold sector and establish a Gold Processing Corporation. If implemented, Kenya would join nations like Egypt, Tanzania, and Ghana in bolstering gold reserves to safeguard against economic volatility. Read more here >>>>>
ANALYSIS : Why Over 80% of Kenyan Employees want to Quit…
Source : GALLUP
A new Gallup report highlights a potential crisis in Kenya's workforce, with 82% of workers either actively seeking or passively considering new opportunities, far surpassing the global average of 50%. Despite a youthful, growing workforce and a booming tech sector, only 19% of Kenyan employees report feeling engaged in their jobs.
The report also reveals significant personal strain among workers, with 28% feeling lonely, 23% experiencing sadness, and 32% dealing with high stress levels. While 42% of workers think it’s a good time to find a job, the disconnect between job demand and confidence continues to grow.
This trend is part of a broader regional issue in Sub-Saharan Africa, where employee engagement is low and turnover rates are high. Gallup estimates that increasing engagement could unlock US$9.6 trillion in global productivity, highlighting the untapped potential in Kenya and similar economies. Read the analysis here »»»»»
MARKETS
🟢 Sanlam Kenya’s KSh 2.5B Rights Issue trading opened today, 25 April 2025!
Eligible shareholders can now trade their rights on the Nairobi Securities Exchange (NSE) and subscribe to 500 million new shares at KSh 5.00 each. The offer runs until 12 May 2025.
🔔 Next key date: The last date for immobilization of provisional rights is 6 May 2025.
🔴 Kapchorua Tea stock drops 7% to KSh 200.00, lowest since September 2023
🔴 The Nairobi Securities Exchange (NSE) today saw a bearish performance. 👇🏽
SOURCE : NSE
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Yesterday's Poll Results
Do you think Ruto's state visit to China will attract viable investors from Beijing?
🟨🟨🟨🟨⬜️⬜️ Yes (40%)
🟩🟩🟩🟩🟩🟩 No (60%)
The apple cannot be stuck back on the Tree of Knowledge; once we begin to see, we are doomed and challenged to seek the strength to see more, not less.
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