The Expressway Controversy

I am Brian from The Kenyan Wall Street…

In today's newsletter edition, we look at the intrigues surrounding the proposed Nairobi-Mombasa expressway project.

Also, the Central Bank of Kenya (CBK) decided its new rates. What do they mean?

Is Treasury reluctant on the Expressway Project?

A billion-shilling dream from Nairobi to Mombasa meets the quiet power of a Treasury committee.

By Brian Nzomo

Confusion rippled through infrastructure circles over the future of the Usahihi Nairobi–Mombasa Expressway, the proposed KSh 468 billion toll road meant to cut travel time between Kenya’s two biggest cities.

Several outlets ran with headlines suggesting the Kenya National Highways Authority (KeNHA) had rejected the project outright. Those reports followed KeNHA officials’ recent remarks noting that upgrading the existing A8 highway was also being considered. But according to project insiders, those comments were technical clarifications, not a death sentence for the expressway.

The project, championed by U.S. asset manager Everstrong Capital through a public–private partnership (PPP), is still under active review by KeNHA, the PPP Directorate, and the National Treasury, as required by the PPP Act. The design is a hybrid corridor plan: a new 4- to 6-lane tolled expressway for high-speed travel, paired with targeted upgrades to parts of the current A8 route to improve safety and connectivity for non-toll users.

That doesn’t mean the project is a done deal. It still has to navigate environmental approvals, final financial structuring, and government sign-off before breaking ground. Read more >>>>>

Lands without Proofs of Ownership 

By Fred Obura

Nearly one in six land parcels in Kenya has no proof of ownership. The national survey counts them alongside titled plots, leases, sale agreements, and allotment letters, but their place is the blank column — “no clear ownership.” Most are in rural areas, where homes stand and fields are tilled without the paperwork that would survive a court challenge. The absence is not evenly felt; some counties approve building plans in a day, others in weeks. Between them lies a gap in who can build, borrow, and secure their property. In a country where land is the ultimate asset, that gap is not small. Read more >>>>>

Banking & Credit 

The Seventh Cut : CBK’s Rate Stands at 9.50%

By Harry Njuguna

The Central Bank has trimmed its key lending rate again, just a quarter of a point this time, but enough to mark seven cuts in a row. At 9.50%, the benchmark is now at its lowest since mid-2023, a quiet signal that policy makers still see room to push credit into the economy. Inflation remains tame, even as energy costs nudge it upward, and growth forecasts have been bumped slightly higher. Lending rates are easing, private sector credit is stirring, and the currency is steady enough to keep the technocrats calm. Beneath the optimism lurks the stubborn number: non-performing loans holding at 17.6%. For now, the MPC seems willing to bet that cheaper money will do more to quicken the economic pulse. Read more »»»»»

Opinion Poll 

Equity Bank's Botched Land Sale 

By Brian Nzomo

In 2005, Equity Bank sold a borrower’s land in the quiet backroom light of a private deal. No public auction notice, no bidding, just a transaction that never saw the sunlight and a buyer who left the title unregistered for twelve long years. When the case reached the High Court, the bank admitted to a “system glitch” and lost files, a confession that did little to explain why it had cleared the borrower’s loan years after the supposed sale. The judge said the procedure was broken from the start: no proof the owner was told, no evidence the rules were followed, no innocence to be found in the buyer’s delay. Equity Bank walked away empty-handed. The buyer walked away empty-handed. And the land sits in the same uneasy limbo it’s occupied for nearly two decades, a prize no one has yet managed to win. Read more »»»»»

Capital Markets 

Car & General Posts 920% Profit Surge

By Harry Njuguna

Car & General Kenya’s half-year profit after tax exploded 920% to KSh 637 million in H1 2025, fueled by booming motorcycle sales and a standout performance from its Watu subsidiary.

Here is how the company performed…

🟢 Profit after tax up 919.7% to KSh 637 million

🟢 Gross profit rose 32.9% to KSh 2.12 billion.

🟢 EBITDA more than doubled, climbing 104.2% to KSh 1.54 billion.

🟢 Cash from operations stood at KSh 899.7 million, with closing cash at KSh 190 million versus a deficit a year earlier.

🟢 Revenue increased 9.6% to KSh 12.03 billion, boosted by a 17% surge in Kenya turnover

🟢 Interim dividend declared, 0.30 per share, the company’s first in over two decades.

Read the full financial analysis »»»»»

EXPLAINER : How To Monitor Your NSE Investments Daily

By Sylvia Jemutai

The first thrill of buying shares is quickly followed by the quieter question: now what? For many new investors on the Nairobi Securities Exchange, the uncertainty begins the moment the trade settles. Do you check the live tickers on the NSE site? Rely on your broker’s app for portfolio updates, alerts, and dividend notices? Or scan the business headlines for the moves behind the numbers? Here is how to do it »»»»»

NSE Gainers & Losers 

Real Estate

Inside Kenya’s unequal leap into Smart and Connected living.

By Fred Obura

In Kenya’s cities, the front doors unlock with fingerprints, the lights follow voice commands, and cameras see every movement. In the countryside, the same doors are wood and padlock, the nights still lit by kerosene. A new national survey shows just how sharply the smart home revolution is split by income, housing, and the simple fact of electricity. Among the wealthiest, 7.7% guard their homes with connected security systems; among the poorest, barely 0.3% do. Renters in urban flats enjoy faster internet, more devices, and better security than many who own their homes outright. And while two-thirds of households have electricity, the rural half still waits in the dark for the basics. Read more »»»»»

INSIGHT : What Today’s Homebuyers Want…

By Sylvia Jemutai

Kenya’s real estate market is shifting from flashy features to meaningful value, with buyers prioritizing sustainability, community, and long-term livability. Master-planned gated estates, like Greenpark, are in high demand for their safety, schools, and built-in amenities, while coastal and countryside lifestyle properties attract those seeking both serenity and investment potential. Mid-market buyers are driving demand for quality homes at fair prices, rejecting substandard builds even if they are cheaper. In the end, the strongest demand is for homes that are blending practicality with a sense of belonging. Read more »»»»»

Also Read 

Stories you missed 

♦️ Infrastructure. Parliament has shortened contracts of the director generals of key road agencies in what is engineered to promote good governance and ensure performance in the state corporations.

♦️ Public Finance. Cabinet Secretary for the National Treasury highlighted a critical annual funding shortfall of approximately US$2.4 billion (Ksh 336 billion) required to develop and maintain the country’s infrastructure.

♦️ Interview. Kristin H. Wilson, the Managing Partner at Innovate Africa Fund and Bold Angel Network discusses why proximity to the challenge a startup is trying to resolve is critical

♦️Banking. Absa Bank Kenya has reported a 9.05% year-on-year rise in profit after tax to KShs 11.68 billion in the first half of 2025.

♦️ Startups. Nairobi-based fintech startup, HoneyCoin, has secured US$4.9 million in a seed funding round led by Flourish Ventures.

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