Good morning from The Kenyan Wall Street.

Here’s what you need to know to start your week

Inside Peter Ndegwa’s Six Years at Safaricom

By TKWS and Harry Njuguna

Six years ago, right at the start of the pandemic, Peter Ndegwa took the helm at Safaricom, the region’s most valuable and most profitable company. It was a challenge he had readily accepted, making him the first Kenyan to hold East Africa’s most visible corporate role.

With it came cascading challenges, beginning with settling in while running a corporate juggernaut via Zoom, and helping the company navigate the limits of its own successes. The traditional engines of a telecoms business were losing power, and it left the company with an unavoidable dilemma: how would a telecommunications behemoth react if its key business model was starting to fade away?

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In the Markets Last Week

How Ethiopia Is Rewiring Its Financial System

By Yesuf Hadji

In just two years, Ethiopia has unbolted its currency, cracked open its banking sector, and built a stock exchange where none had existed for fifty years. Building the plumbing of a functioning market economy, deep enough FX liquidity to close the spread, banks competitive enough to price capital properly, an exchange liquid enough to make a listing worth more than a press release, is slower, less photogenic work. Ethiopia has proven it can become an open economy, but can it become a liquid one?

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What You Should Watch

In this episode, Just Ivy sits down with Advocate Eliud Ngugi and Entrepreneur Matu Kihato to unpack one of the most misunderstood financial tools in Kenya: TRUSTS…

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