The Consequences of Rewriting a Loan

Hello 👋🏽 It's Brian from The Kenyan Wall Street.

In today's newsletter,

• The Competition watchdog has faulted GT Bank for improper conduct in a credit renewal dispute

• Transporters in Kenya are lamenting that theft of transit goods has risen…they want higher rates to attenuate risks

The Consequences of Rewriting a Loan

By Brian Nzomo

One of Kenya’s mid-tier lenders, Guaranty Trust Bank Kenya Ltd, has been fined KSh33.18 million by the Competition Authority of Kenya (CAK) over what the regulator described as misleading representations and unconscionable conduct in a credit renewal dispute with manufacturer ASL Limited. The authority said the bank retroactively applied default interest and presented materially altered loan terms as routine renewals, ordering additional refunds alongside the penalty. Set at 2% of the bank’s gross turnover, the fine signals a readiness to scrutinize how lenders manage expiring facilities and borrower leverage. GT Bank has appealed the decision before the Competition Tribunal and maintains that it complied with contractual obligations and banking regulations.

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Between SCOTUS and AGOA: Kenya’s Trade Reckoning

By Dennis Kaboro

When the Supreme Court of the United States ruled that President Donald Trump had overreached in using emergency powers to impose sweeping tariffs, it appeared that the judiciary had clipped the wings of executive trade activism. Within hours, however, the administration pivoted to another statute, restoring a global tariff regime on firmer legal footing and signaling that American protectionism would proceed, court ruling notwithstanding. For Kenya, whose apparel exports depend heavily on preferential access to the U.S. market under African Growth and Opportunity Act (AGOA), the episode underscores a deeper vulnerability: trade access granted at Washington’s discretion can shift overnight. The ruling clarified the stakes : diversify market access or remain tethered to the legal improvisations of American politics.

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Victims in Transit: The Cost of Stolen Goods

By Brian Nzomo

Kenya’s transporters are facing a surge of highway theft that puts both cargo and drivers at risk. Current tax rules demand they pay duties even when shipments are stolen, turning victims into inadvertent debtors. The Kenya Transporters Association (KTA) calls for higher freight rates, convoy travel, secured parking, and comprehensive insurance to offset these hazards. Owners are urged to clarify liabilities and provide security escorts, but even these measures are only partial remedies. In a trade where risk outpaces reward, these recommendations read as both a lament and a plea for operational survival.

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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.

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