The Lease Conflict...

Good evening! It's Brian from The Kenyan Wall Street. Here are the business stories we have compiled for you today…

The Lease Conflict : The Supreme Court Intervenes

The Supreme Court has ruled in favor of Harcharan Sehmi, whose leased land in Ngara was unlawfully reallocated and sold despite a timely renewal application. The court clarified that public land reverts to the state after lease expiry, but transfer to another party cannot occur without addressing the lessee’s renewal bid.

Sehmi had applied for lease extension three months before expiry, yet received no objection or response from authorities. The land was later allocated to Rospatech Ltd and sold to Tarabana Company for Ksh24 million. Justices, led by Mohammed Ibrahim, emphasized that such applications create legitimate expectations requiring due process. Read more here»»»»»

Today's Poll

Mobility  

Bolt Reports 46% Drop in Off-App Rides in Kenya

Ride-hailing firm Bolt has recorded a 46% decrease in "offline" rides in Kenya over the last six months. The company attributes this to the rollout of enhanced safety features such as GPS tracking, driver ID verification, and emergency support. This move is part of Bolt’s KSh 14 billion investment over three years to improve passenger safety and discourage off-app transactions, which pose security risks. Here is more»»»»»

Banking  

Access Bank to Acquire National Bank of Kenya (NBK)

The Central Bank of Kenya (CBK) and the National Treasury have green-lit the acquisition of NBK by Nigeria’s Access Bank PLC, marking a significant development in Kenya’s banking sector. The transaction includes transferring certain NBK assets to KCB Bank Kenya.

CBK emphasized the deal’s completion is subject to terms agreed in March 2024. Notably, Access Bank must retain at least 80% of NBK’s workforce post-merger, following a condition by Kenya’s Competition Authority. Read more»»»»»

MISHANDLING DATA : Why NCBA Bank Must Pay Customer

♦️ The Office of the Data Protection Commissioner (ODPC) has ordered NCBA Bank to pay KSh 250,000 in compensation to a customer whose personal data was mishandled. Here is more»»»»

Capital Markets

An Investor Roadshow…

The Nairobi Securities Exchange (NSE) is set to host its first-ever investor roadshow in the United Arab Emirates (UAE) this July, aiming to attract fresh capital into Kenya’s stock market. The three-day roadshow, scheduled for 7th to 9th July 2025 in Dubai, will showcase opportunities in the country’s stock market to Gulf-based sovereign wealth funds, family offices, frontier and emerging market funds, and impact investors. Here are the plans »»»»»

Markets at a Glance…

📈 Bond Turnover: KSh 88 Billion.

🏦 Market Cap: KSh 2 Trillion

INSIGHT : Why Companies Need to Optimize the Full Potential of AI, Cybersecurity Tools in an Evolving Workplace

For businesses, returns-on-investments are crucial in everything—even when technology is involved. Profits need to be made and therefore, businesses want to keep a closer and sure eye on how AI and other digital tools such as cybersecurity solutions can save costs and maximize efficiency. Here is the full article»»»»»

On your watchlist

Last Friday's Poll Results

Do you think this ruling from the tribunal was fair?

⬜️⬜️⬜️⬜️⬜️⬜️ Yes (4%)

🟩🟩🟩🟩🟩🟩 No (96%)