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Taming the scourge...
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Social Media over the past two weeks has been awash with stories and testimonies of gambling addiction. The government has been blamed for complacency; but now, it wishes to take action…
Good evening! It's Brian from The Kenyan Wall Street. This and more business stories in today's edition of ‘The Daily Brief’
TAMING THE SCOURGE: Why Gov't has suspended Betting Adverts
Online gambling
Kenya’s Betting Control and Licensing Board has ordered a 30-day suspension of all gambling advertisements to combat rising addiction, especially among the youth. The regulator cited misleading promotions portraying betting as investment, and urged Parliament to fast-track the Gambling Control Bill. Media and licensed operators must now get ad approvals from the Kenya Film Classification Board.
Authorities raised concerns over widespread exposure during watershed hours and the growing popularity of fast-paced games like Aviator. A multi-agency team is being formed to enforce responsible gambling measures. The move comes amid reports of gamblers spending over KSh 65,000 monthly, deepening social and financial distress. Here is more >>>>>
Today's Poll
Do you think the suspension of betting adverts for a month is a solid step to regulating addiction? |
CHANGING LANDSCAPES : Prices Nairobi Plots fetched in Q1
Upperhill, Nairobi
Nairobi's suburban land prices remained stable in Q1 2025, with areas like Karen and Gigiri now joining apartment development hotspots, posting a price growth of up to 2.9%.
In contrast, satellite towns recorded a stronger average growth of 2.4%, led by Kiserian at 5.0%, due to their affordability and wide developer interest. Spring Valley led the suburbs with a 3.7% increase, while Ruaka was the only satellite town to decline slightly at -0.1%. Developers are also shifting focus from saturated zones like Parklands to areas with better value growth potential. Read more here »»»»»
CORRIDORS OF JUSTICE : Troubled Betway faces KSh 5bn tax charge amid liquidation
Bluejay Limited, the parent firm of Betway Kenya, is facing a KSh 5 billion tax demand from the Kenya Revenue Authority, even as it files for liquidation.
The Tax Tribunal upheld most assessments, including those on withholding and excise taxes, but overturned a KSh 163 million penalty. Disputes centered on transfer pricing and related-party transactions. The tribunal criticized KRA’s approach while emphasizing fair tax enforcement. Bluejay’s liquidation may complicate KRA’s efforts to recover the dues. Here is more »»»»»
MARKETS
🟢 The Nairobi Securities Exchange Plc will hold its 71st Annual General Meeting (AGM) virtually on Wednesday, 21st May 2025 at 11:00 a.m. (EAT).
Key highlights:
▪️ Dividend: KSh 0.32 per share
▪️ Re-election of four directors
▪️ Retirement of Paul Mwai (Vice-Chairman)
▪️ Appointment of PKF Kenya LLP as new Auditor
▪️ Board authorization to review key governance policies
Billionaire Patel Baloobhai
🟢 Billionaire Patel Baloobhai has boosted his shareholding in Absa Bank Kenya from 1.03% to 1.20% by December 2024 — adding 9.2 million shares.
As of 28 April 2025, his stake is valued at approximately KSh 1.21 billion.
🟢 The NSE All Share Index (NASI) today saw a bullish performance. 👇🏽
Source : NSE
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Yesterday's Poll Results
How would you describe your spending power since January this year?
‘Poor’ was the most voted option
There are two things that men should never weary of, goodness and humility; we get none too much of them in this rough world among cold, proud people.
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