The Side Hustle that Evolved into a Primary Job

Ride-hailing apps were considered part of the gig economy meant to simply supplement other forms of income. A new report shows that in Kenya, that has changed…and the Bolt platform is gearing up for this evolution.

Hello 👋🏽 It's Brian from The Kenyan Wall Street. This and more in today's newsletter edition…

The Side Hustle that Evolved into a Primary Job

By Brian Nzomo

Ride-hailing in Kenya has quietly become a full-time job for more than half its drivers, transforming what was once a flexible side hustle into a daily grind that supports families and pays rent. Drivers are not just earning; they are building small businesses by buying their own cars, growing fleets, and even using earnings to secure bank financing. Daily fares, once a supplemental income, have become a lifeline in a country where formal jobs remain scarce and economic uncertainty is the norm. Platforms respond not with higher fares but with strategic partnerships, fuel-saving innovations, and electric vehicle adoption, signaling that ride-hailing is no longer a temporary gig but a permanent thread woven into the fabric of urban life.

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Co-op Bank Extends Profit Streak

By Harry Njuguna 

Co-operative Bank of Kenya posted a group net profit of KSh 29.75 Bn for FY2025, up 16.9% from KSh 25.46 Bn, marking the highest earnings in its history and extending a profit streak since 2003.

Financial Snapshot:

🟢 Net interest income jumped 22% to KSh 62.85 Bn as interest expenses fell 12.8% to KSh 30.29 Bn.

🟡 Non-interest income was flat at KSh 29.03 Bn.

🔴 Staff costs were KSh 20.82 Bn and loan loss provisions KSh 9.46 Bn.

🟢 Balance sheet expanded 11.3% to KSh 827.35 Bn, with customer deposits up 13.4% to KSh 574.17 Bn.

🟢 Kingdom Bank, the subsidiary, posted net profit of KSh 876.45 Mn, up 59.6%.

Read the financial analysis here >>>>>

Counties are hooked on hospital revenues

By Fred Obura

Counties in Kenya are leaning heavily on health facility revenues to keep hospitals and clinics running, even as broader local revenue collection falters. In the first half of 2025/26, facility-level funds accounted for nearly half of all own-source revenue, highlighting their outsized role in sustaining operations. Delays in national transfers and growing arrears are straining liquidity, leaving counties struggling to fund development projects and long-term investments. Policymakers warn that overreliance on service-linked revenues may undermine budget stability, raising questions about the sustainability of the country’s healthcare financing model.

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OPINION : Why Gen Alpha are the Architects of Africa’s Digital Economy 

By Emma Kendrick Cox

By 2030, Africa will be home to one in every three Gen Alphas, making them a demographic impossible to ignore. These digital natives navigate smartphones and platforms instinctively, often shaping household purchasing decisions and influencing family technology choices. From urban centers to rural areas, they are already bridging digital gaps, remixing experiences, and demanding to co-create the products and services they use. Far from passive consumers, Gen Alphas are emerging as architects of Africa’s digital economy, redefining how businesses must engage with the continent’s next generation.

Read the opinion article here »»»»»

On Your Watchlist

What happens when an AI agent goes beyond its instructions and starts seeking more control? In this gripping segment of the Just Money Podcast, we explore the unsettling "black box" of artificial intelligence with technology experts Tony Muiyuro and Michael Michie.

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Founded in 2012, the Africa CEO Forum has grown from a purely annual gathering into a permanent platform connecting African decision-makers year-round with peers, international investors, and institutions active across the continent.

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Head to Head 

Here are the financial results of Equity Bank and KCB.

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