The Race For Africa's VC Crown

The Weekend is here!

It's Brian from The Kenyan Wall Street…

In today's edition :

• How VC Funding in Africa looks so far.

• How the NSE wants to raise margins for derivatives  

The Race For Africa's VC Crown 

By Brian Nzomo

Nairobi is quietly staking its claim as East Africa’s startup capital this year, pulling ahead of Johannesburg and leaving West Africa’s old guard scrambling. 

Kenyan solar ventures are soaking up the spotlight, while South African fintechs dominate the southern corridor, drawing the largest checks of the year. Across the continent, the story is less about more deals than bigger bets: median funding has bounced back to US$1 million, signaling investor confidence in proven models rather than experimental ideas.

Debt financing has finally cracked the US$1 billion mark, narrowing the gap with traditional equity rounds and hinting at a maturing approach to growth capital. Amid the optimism, exits, acquisitions, and closures remind the market that in Africa’s venture scene, boldness and resilience must walk hand in hand.

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Fresh Margins Levels For NSE Derivative Contracts 

By Harry Njuguna  

Traders at the Nairobi Securities Exchange are being asked to dig a little deeper. Starting this December, margins for popular futures from Safaricom to KCB are climbing, meaning more upfront cash to play in the market. The exchange says it’s about keeping risk in check, but for many investors, it’s a reminder that speculation comes with a price. As the NSE gears up for options and new contracts, the message is clear: optimism alone won’t carry you. In Kenya’s growing derivatives market, discipline and capital are now part of the game.

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A Revenue Surge But Still Below Target

By Harry Njuguna

Counties raked in more cash last year, but not quite enough to meet their own lofty promises. Collections rose by more than 60%, yet the overall target slipped just out of reach.

Nairobi and Mombasa still dominate the ledgers, while smaller counties like Tana River and Samburu surprised with windfalls from gypsum and tourism. Others, from Kisii to Kirinyaga, hit the jackpot largely because their goals were set modestly to begin with.

At the bottom, several big names, including Nairobi itself, couldn’t shake the drag of overestimated projections and weak strategies. The lesson, as ever in Kenya’s counties: raising revenue is less about extraction than about setting targets that don’t collapse under their own weight.

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INTERVIEW: How CSR Plays An Invaluable Role for Superior Homes

In this week’s conversation, Fred Obura of The Kenyan Wall Street sits with Faith Wambui, CSR Coordinator at Superior Homes. She speaks about the Superior Homes Foundation and its work keeping girls in school through sanitary pad distribution and mentorship. The discussion explores how the developer balances commercial success with sustainability and community wellbeing.

Read the interview here >>>>>

Insight 

Kenya’s University Crisis as Exam Malpractices Dominate Discipline Cases

By Chelsy Maina

Kenyan universities are struggling with an integrity crisis that cuts to the bone of higher education. In 2024, exam cheating accounted for nearly 90 percent of all disciplinary cases, everything from impersonation to smuggled notes on mobile phones. Overcrowded lecture halls, weak enforcement, and high-stakes testing have made dishonesty easier than discipline. The Commission for University Education warns that if employers and global institutions begin doubting Kenyan degrees, graduates may carry certificates stripped of credibility. The system is producing more students than ever, but without urgent reforms, it risks producing graduates nobody trusts.

Read more details here »»»»»

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NSE Gainers & Losers 

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On Your Watchlist

Stories you missed 

♦️ Industry. Kenya Commercial Bank (KCB) Group and the African Export-Import Bank have agreed to provide a combined US$800 million (KSh 103.4 billion) in financing to operationalize the Vipingo Special Economic Zone in Kilifi County.

♦️ Capital Markets. The Capital Markets Authority has exempted NPRT Holdings Africa Limited from making a mandatory takeover offer to minority shareholders of Nation Media Group Plc (NMG), clearing a key hurdle in Aga Khan Fund for Economic Development’s (AKFED) planned internal reorganisation of its majority stake in the media house.

Keep up with what’s happening on our X and LinkedIn pages. Stay updated with the latest financial news on our website The Kenyan Wall Street.