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Pushing Debt Down the Road
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Hello 👋🏽 It's Brian from The Kenyan Wall Street.
In today's newsletter,
Treasury Retires KSh 53.6 billion of Eurobonds After Heavy Demand for 2032 Notes
Africa’s aviation market is growing faster than Asia’s for the first time and Boeing sees this as an opportunity
Pushing Debt Down the Road
By Harry Njuguna
Kenya is reshaping its debt by retiring hundreds of millions in Eurobonds as investor appetite for longer-term notes surged. The move eases near-term repayment pressures while pushing obligations further into the future, effectively stretching the country’s debt timeline. Demand for the new bonds far outstripped supply, forcing a partial allocation and highlighting the strong investor confidence in Kenya’s borrowing plan. Officials frame the operation as prudent debt management, aimed at smoothing upcoming repayment schedules and reducing rollover risk.
Read the full article here >>>>>
The Sweet Tobacco Dividend
BAT’s Total Dividend per share over the years
By Chelsy Maina
Even as illicit trade eroded volumes and pushed revenue lower, BAT Kenya Plc grew profit and raised its total dividend to KSh 70 per share for the year ended December 2025.
Financial Snapshot:
🟢 Profit after tax rose 17% to KSh 5.25 billion.
🟢 Earnings per share increased to KSh 52.46 from KSh 44.83.
🔴 Net revenue fell 10% to KSh 23.2 billion as illicit cigarette penetration climbed to an estimated 45% of the domestic market.
🟢 Cost of operations dropped 15% to KSh 15.7 billion.
🟢 A swing to KSh 196 million in finance income from a prior-year finance cost further supported earnings.
Read the full financial analysis here >>>>>
INTERVIEW : Africa Emerges as Aviation’s Next Growth Engine for Boeing
Henok Teferra Shawl, Boeing’s Africa Managing Director
Africa’s aviation market is surging in ways that have caught even the biggest manufacturers by surprise. Henok Teferra Shawl, Boeing’s Africa Managing Director, describes a continent where rising GDP, urbanization, and a youthful, mobile population are driving unprecedented passenger growth. Airlines face a long-cycle opportunity, spanning aircraft, infrastructure, financing, and the cultivation of human capital. For Shawl, the story is as much about people as planes: train the workforce, open the skies, and Africa can fulfill the world’s appetite for travel.
Read the article here »»»»»
INSIGHT: Ghana, Nigeria and Kenya’s Youth Rank High in Mental Health Survey
By Brian Nzomo
In a world where nearly half of young adults report minds in crisis, a new survey by Sapien Labs delivers a quiet surprise: the sturdiest youth psyches are not in Silicon Valley or Stockholm, but in Accra, Lagos, and Nairobi. The study hints at an inversion of modernity’s promise, linking early digital immersion and ultra-processed diets to fraying emotional control, while spirituality and family cohesion appear to act as unlikely buffers. For policymakers and executives betting on a demographic dividend, the message is both flattering and foreboding: Africa’s youth may be comparatively well, but they are not immune to the pressures reshaping the global mind.
Read the full article here >>>>>
Heads Up
On Your Watchlist
“Not everyone is allowed into my mouth." In this hard-hitting conversation, Dr. Renoh Omoro exposes the alarming trend of "quackery" within the dental industry; revealing that even some of the most established hospitals hire non-dentists to cut costs.
Snapshots
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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
Dominican Republic declared independence from Haiti, as the secret society La Trinitaria, led by nationalist figure Juan Pablo Duarte, ended 22 years of unification and asserted the nation’s sovereignty.
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