Category: Auto Guid

Former presidential aide, Laolu Akande, has described Lagos State Deputy Governor, Babafemi Hamzat, as an exemplary public servant whose emergence in leadership reflects the kind of political succession Nigeria needs to overcome its governance challenges.

Speaking on Sunrise Daily on Channels Television, Akande said Nigeria’s political elite crisis would be significantly reduced if political parties consistently produced technocrats and performers like Hamzat for higher office.

‘I think that if we have a political selection process, such as what seems to be emerging in Lagos, where you have people such as Dr. Babafemi Hamzat emerging the way he is emerging, I can dare to say that we would not have so much problems with the political elite,’ Akande said.

He went further to describe Hamzat as a tested administrator whose record in public service speaks for itself.

‘Because what I find out, because somebody that I know very well, is that this is an exemplary public servant. If those who take the decisions about who should go forward, if they give us people like Hamzat, look, I am willing to say that Nigeria will not be where we are today,’ he stated.

Akande cited landmark projects and reforms that he said bear Hamzat’s imprint, pointing to infrastructure development and digital transformation initiatives that changed governance in Lagos.

‘So, if you look at that Lekki-Ikoyi Link Bridge in Lagos, there is not one single Nollywood movie that I have seen that does not showcase that bridge. Hamzat was central to the idea and the implementation of that bridge.’

He also highlighted Hamzat’s role in modernising Lagos State’s public administration through technology, revealing that the state was ahead of many global institutions in adopting enterprise digital systems.

‘Most people don’t know, Lagos State managed to implement the Oracle Corporation software for automation of government business, pension, salary, payroll, and all of that. Lagos State government managed to implement the automation Oracle software ahead of New York State in the early 2000s. Guess who was behind it? Hamzat was the person behind it.’

Akande noted that deputy governors often operate under difficult political conditions, where ambition can easily be misconstrued, making Hamzat’s political evolution even more remarkable.

‘A lot of the times, people who find themselves in office as vice president and deputy governors specifically-it’s a very tough job. If you have ideas, you have to subsume your ideas, and people think that maybe you are too ambitious.’

He observed that across Nigeria, only a few deputy governors have successfully transitioned into governorship positions, making Hamzat’s growing political profile noteworthy.

Akande also credited Lagos State Governor, Babajide Sanwo-Olu, for creating an atmosphere of trust, collaboration, and shared governance with his deputy.

‘But I think we also have to give the credit to Governor Babajide Sanwo-Olu, who actually made the statement-and I don’t think a lot of people paid attention to it-that in Lagos, they have a two-man governor.’

According to him, that statement captures the unique working relationship between both leaders and explains the consistency in policy delivery in Lagos.

‘That tells you the kind of cohesion and the understanding that exists between Sanwo-Olu and Hamzat, and it has shown in the level of delivery and how government has been run.’

Akande said the Lagos model demonstrates the importance of leadership synergy and political maturity, adding that Hamzat’s long years of public service-from commissioner roles in Lagos to assignments at the federal level-have prepared him for bigger responsibilities.

‘The political evolution also speaks to having people who can work together, having a governor like Sanwo-Olu who is not intimidated by clearly an exemplary deputy who understands the issues, who has been a commissioner since, I think, maybe 2002 or 2003, doing great work both in Lagos State and the federal government,’ Akande stated.

His remarks come amid growing political conversations about succession politics in Lagos and the broader debate over competence, continuity, and the quality of leadership needed to drive Nigeria’s development in the years ahead.

IF you have not seen the recent trending video on social media showing the badly disfigured face of an Amotekun operative trying to prevent a Fulani herder from violating Oyo State’s grazing laws, maybe you should look it up. According to multiple reports, the incident occurred after the operative instructed the herder not to stray into unauthorised territory. Some reports claimed that the herder had earlier been reported to Amotekun operatives for harassing local women. In another incident, the Lagos State Butchers Association recently decried the persistent rise in the price of cows in the state, saying that they had become costlier than some second-hand cars. The association’s patron, Alhaji Bamidele Kazeem, lamented during an interview with NAN in Lagos that the price had moved to as high as N2.5 million from about N1.7 million in 2025, a development he attributed to insecurity, rising transportation costs, and delayed local ranching initiatives. This last point is crucial.

And in yet another sad development, at least 28 Yoruba communities have been deserted in Ifelodun, Kwara State, following relentless onslaughts by nomadic terrorists. The harvest of death and destruction is huge, but the misgoverned governor of the state who recently battered ethnic sensibilities by renaming the Kwara Government House as Ahmadu Bello House is busy doing exactly nothing. As I show below, a single thread connects these seemingly disparate stories.

Many have argued that there’s nothing wrong with Yorubaland or indeed, any other part of Nigeria relying on another part for its cattle needs. Citing the law of comparative advantage, they argue that it makes sense for Nigeria’s South-West to focus on its areas of agricultural strength while sourcing cattle from the North. That idea is attractive, but for the purpose of this piece, it is subversive and useless. There would be no problem if all that Yorubaland did was buy cattle from others. But the cattle business has opened up ethnic cleansing concerns, and the earlier Yorubaland exploited other alternatives, the better for its future. The cattle business enables expansionist, genocidal raids in Yoruba territory, and this atrocity must be confronted. Estimates of Yoruba people killed in terrorist onslaughts by nomadic herders vary, but a September 2024 submission by Professor Banji Akintoye, a Yoruba historian and leader, puts the figure at over 29,000. Relying on foes for food is courting danger.

The Yoruba say, ‘We cannot, out of a desire to eat meat, call a cow (elder) brother.’ But the potency of such a proverb has been neutralised by the trail of bloodshed in the land as nomadic herders try their best to turn it into a human abattoir. The Yoruba, like most other ethnic groups, are being decimated by terrorist herders, dying because of beef. The owners feed their cows on Yoruba farms, yet sell the same cows to them for money. Until the link between cattle supply and terrorism is broken, it makes sense for the Yoruba to nurture and feed on their own cattle. In 2022, the then Governor Oluwarotimi Akeredolu of Ondo State, while addressing some stakeholders in the education sector in Akure, the state capital, advised residents of the South-West states to consider killing chickens for ceremonies instead of cows in order to prevent capital flight. His grouse was that the region was losing nothing less than N2.5 billion daily to the consumption of cows. The proposal is fraught with difficulties, but it raises a concern that no perceptive observer can possibly dismiss.

Yorubaland can raise its own cattle, abandoning the northern grazing model. It can achieve a lot through ranching. It is a no-brainer that controlled, fenced systems with planted pasture use land more efficiently. The South-West would be saving its future by investing in cattle feed (e.g., cassava peels), improving cattle breeds and productivity, and investing more purposefully in slaughterhouses, refrigeration and transport. Evidently, public-private partnerships, private investments and cooperatives can go a long way in this regard, as can well-thought-out land policies for ranching.

What if the South-West states set a target to produce at least 40 percent of the region’s cattle needs, establishing multiple functional ranches in each state? Nothing stops them from setting aside an adequate number of hectares, undertaking breeding upgrades through imports or partnerships, creating state-of-the-art abattoirs, and upgrading dairy collection systems. Suppose organs like Afenifere launch a Cattle Breeding Initiative with significant support from Yoruba people in Euro-America and other climes? And suppose that this scheme is backed up by security arrangements using seasoned hunters with complementary support from Amotekun? There will always be problems, but it is better to fight off danger than to sit idly and do nothing. The reason the enemies of the Yoruba are so bold and so disdainful towards them is that the Yoruba have been feeding and sustaining them for ages.

I hear of moves in this regard by some state governments. For instance, Oyo State is said to be transforming its cattle production sector into a structured agribusiness through the $500 million World Bank-assisted Livestock Productivity and Resilience Support Project (L-PRES). According to reports, the state focuses on enhancing productivity, commercialisation, and modernisation of cattle farming. The government is said to be pushing for artificial insemination to improve milk yield, which is currently low (3-4 liters per day) compared to international standards. A shift towards sedentary, settled, and intensive systems is reportedly occurring, reducing traditional migration.

Ogun State, on its part, is said to be undertaking a significant expansion of its livestock sector, establishing modern, large-scale cattle ranches and dairy production facilities to enhance food security and industrial growth. Plans are in fact underway to establish Nigeria’s largest dairy and cattle ranches in Ipokia and Yewa South LGs, with an initial capacity of 5,000 head of cattle. The government is said to be establishing modern ranching facilities to replace unregulated slaughtering at locations like Kara Market with hygienic, centralised slaughtering and processing. Last year, I saw a video showing the state receiving a consignment of 50 in-calf Ayrshire heifers via air from Uasin Gishu County, Kenya, to enhance dairy and beef cattle populations.

Great as these efforts are, they are not enough. I suggest that the governors of the South-West mandate varsities and research institutions to produce a certain quota of cattle by specific dates. I suggest that they provide land and security to would-be investors, and ensure that before the end of their tenure, only beef produced in the South-West is consumed in Government House. I suggest that the South-West set specific targets to produce cattle, and organise a cattle carnival where both public and private initiatives will showcase cattle breeds and cattle products actualised in each state. The governors should set up cattle ranches in each local government, with adequate security in place. Let them seek the inputs of researchers and agriculturists, home and abroad.

Yorubaland and Nigeria as a whole must dispense with the fulanisation of cattle rearing. Cows have no ethnic group. Along with the warning today, please read ‘Rescuing Yorubaland’ (November 12, 2022). Ire o.

The University of Cross River State (UNICROSS) has expressed deep sorrow following a tragic road accident involving its students and a staff member, which claimed four lives and left several others injured.

In a statement issued by the institution’s Public Relations Officer, Mr Onen Ebri Onen, the university disclosed that the accident involved 24 students and one staff member, many of whom were members of the Students’ Union Government (SUG) executive. They were returning from an official assignment in Uyo, Akwa Ibom State, when the incident occurred in Odukpani Local Government Area of Cross River State.

The university confirmed that three students and one staff member lost their lives in the crash.

Those who died were identified as Comrade Solomon Uya, Director of Sports of the SUG; Comrade Lucky Erim of the Department of Chemistry, who also served as President of the Faculty of Physical Sciences Students’ Association and President of Presidents; Comrade Favour Darlington of the Department of Educational Management; and Mr Anthony Arikpo, the vehicle driver and a staff member of the institution.

According to the statement, survivors are currently receiving treatment at various hospitals, with the university assuring that adequate medical care is being provided.

The Vice Chancellor, Prof Francisca Bassey, accompanied by the Deputy Vice Chancellor (Academic), Prof Stella Maris-Okey, visited the injured students, expressing solidarity and personally monitoring their treatment.

The management noted that the Vice Chancellor remained with the victims until the early hours to ensure that all necessary medical attention was administered.

Prof Bassey conveyed her condolences to the families of the deceased and described the incident as a painful loss to the university community.

She also reassured the injured students and their families of the institution’s unwavering support, emphasising that their recovery and well-being remain a top priority.

The university further appealed for calm and assured parents and guardians that every effort is being made to provide the best possible care for the affected students.

The governorship ambition of Lagos State Deputy Governor, Dr Obafemi Hamzat, received a major boost on Thursday as the Lagos State councils of the Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) endorsed his candidacy for the 2027 governorship election.

The endorsement came during the 2026 Workers’ Day celebration held at the Mobolaji Johnson Arena, Onikan, Lagos, where labour leaders expressed confidence in Hamzat’s capacity to lead the state and pledged massive support for his bid.

Hamzat’s aspiration has continued to gather momentum following earlier endorsements from key stakeholders, including President Bola Tinubu, the Governance Advisory Council (GAC) of the All Progressives Congress (APC), Governor Babajide Sanwo-Olu, and other party leaders.

Former APC governorship aspirant, Dr Olajide Adediran, popularly known as Jandor, had earlier withdrawn from the race in support of Hamzat, while former Governor Akinwunmi Ambode also congratulated him on emerging as the party’s consensus candidate.

The Lagos APC Chairman, Cornelius Ojelabi, Speaker of the Lagos State House of Assembly, Mudashiru Obasa, and other party chieftains have also backed the deputy governor’s ambition.

In addition, the Association of Waste Managers of Nigeria (AWAMN) recently declared support for Hamzat.

Earlier, the GAC purchased Hamzat’s nomination form after endorsing him as its preferred candidate. The form was later signed by 120 APC leaders and members drawn from the state’s 20 local government areas and 37 local council development areas.

Speaking on behalf of the labour unions, Lagos NLC Chairperson, Comrade Funmi Sessi, described Hamzat as a loyal, competent, tested and trusted leader. According to her, his victory would ensure continuity of the developmental strides recorded by successive administrations in Lagos, particularly under Governor Sanwo-Olu.

Sessi, however, used the occasion to demand improved welfare for workers, calling for an upward review of the state’s minimum wage from ?85,000 to ?225,000.

She said rising inflation, worsening economic conditions and the high cost of living in Lagos had significantly eroded workers’ purchasing power.

‘Lagos remains Nigeria’s economic nerve centre, where the costs of transportation, housing and feeding are exceptionally high,’ she said.

Representing Governor Sanwo-Olu at the event, Hamzat thanked workers for the confidence reposed in him and pledged not to disappoint Lagosians.

‘We will not let you down. The developmental trajectory of Lagos will be improved upon,’ he said.

Governor Sanwo-Olu also commended the leadership of the NLC and TUC for maintaining constructive engagement with government, assuring that his administration would continue open dialogue and collaboration with labour unions.

Speaking earlier after receiving the endorsement of President Tinubu and the GAC, Hamzat described his governorship ambition as audacious but said his experience as deputy governor had prepared him for the task ahead.

‘Nobody is ever fully ready because the assignment is audacious. But what you have is experience. Having served as Deputy Governor of Lagos, I have learned a lot.

‘I know the room. I know where the kitchen is. If you want to cook for people and you do not know the kitchen, no matter how good a chef you are, you must know the kitchen.

‘With God’s blessings and the support of all my fathers here, I have no fear,’ he said.

The Bauchi State Government has announced the sum of ?500 million as an intervention for the procurement of Multiple Micronutrient Supplements (MMS) to prevent anaemia in pregnancy and ensure skilled, safe delivery.

The announcement was made during the second quarter (Q2) 2026 meeting of the State Task Force on Primary Healthcare (STF-PHC), which brought together top government officials, traditional leaders, development partners and health sector stakeholders to review progress and reinforce commitments towards improving primary healthcare services across the state.

Delivering his keynote address, the State Deputy Governor and Chairman of the STF-PHC, Rt Hon. Mohammed Auwal Jatau, emphasised that the task force meeting provides an opportunity to review collective progress and renew strategic leadership for primary healthcare delivery.

He acknowledged the strong collaboration between the state government and development partners, noting that interventions in routine immunisation, maternal and child health, nutrition services and disease surveillance are yielding encouraging results.

The Deputy Governor appreciated the Governor’s approval and release of ?300 million as a UNICEF nutrition matching grant in 2025, which was matched by the agency for the procurement of critical commodities, including Ready-to-Use Therapeutic Food (RUTF), Small-Quantity Lipid-Based Nutrient Supplements (SQ-LNS) and Multiple Micronutrient Supplements (MMS).

He disclosed that while most of the commodities have been distributed across the state, the MMS procurement process is ongoing.

He further revealed that the Governor has approved the sum of ?500 million for the same intervention in 2026, with the state awaiting the release of the funds.

He also highlighted the ongoing ?19 billion renovation, upgrading and equipping of the Specialist Hospital Bauchi as a major investment in the health sector.

While acknowledging the gains recorded, the Deputy Governor noted persisting challenges such as human resource gaps, data quality issues, service delivery bottlenecks and the need for stronger community engagement.

He called on all local government chairpersons and stakeholders to intensify supervision and accountability at the grassroots, stressing that the success of primary healthcare depends largely on effective implementation at ward and facility levels.

In his closing remarks, the Co-Chair of the STF-PHC and the Emir of Dass urged members to translate deliberations into concrete actions that will directly impact communities.

He emphasised the vital role of traditional institutions in mobilising communities to utilise primary healthcare services and assured continued support in promoting health-seeking behaviour at the grassroots.

Earlier in his welcome remarks, the Commissioner for Health and Social Welfare, Dr Sani Mohammed Dambam, described the meeting as a critical platform for assessing ongoing interventions, identifying gaps and strengthening accountability mechanisms at all levels of care.

He reiterated that primary healthcare remains the backbone of the health system and is essential to achieving universal health coverage, reducing maternal and child mortality, and improving community wellbeing across Bauchi State.

As political activities gradually gather momentum ahead of the next electoral cycle, the race for the All Progressives Congress (APC) senatorial ticket in Sokoto East is steadily emerging as one of the most closely watched contests in the state.

What initially appeared as a routine pre-primary positioning has evolved into a complex political chessboard defined by alliances, personal networks, party loyalty and strategic calculations among key stakeholders.

Although formal declarations are yet to begin, multiple aspirants-ranging from experienced lawmakers and party administrators to technocrats and political newcomers-are already making quiet moves to secure support across the senatorial district.

Political observers note that while the field remains fluid, early permutations suggest that the eventual outcome will depend less on public popularity alone and more on internal party dynamics, delegate mobilisation and the influence of established political power blocs.

Sokoto East Senatorial District, comprising eight local government areas, has historically produced influential political figures and remains a critical bloc in determining electoral outcomes in the state.

As such, the contest for the APC ticket is attracting heightened interest, with stakeholders keenly observing how the party navigates competing ambitions.

One of the prominent figures being mentioned in political circles is the serving member representing Wurno/Rabah Federal Constituency, Arc. Ibrahim Almustapha.

Arc. Ibrahim Almustapha

Having served in the House of Representatives since 2015, Almustapha is widely regarded as a grassroots politician with a strong record of constituency engagement.

His supporters point to his consistent presence in his constituency and his efforts in facilitating projects and interventions as evidence of his connection with the people.

However, despite his strengths, analysts argue that his political influence is currently concentrated within Wurno and Rabah local government areas, which form his immediate constituency.

To mount a successful senatorial bid, he would need to significantly expand his political footprint across the remaining six local government areas in the district. This presents both a challenge and an opportunity, as the timeframe for building such widespread support may be limited before party primaries commence.

Hon. Musa S. Adar

Another notable aspirant is Hon. Musa S. Adar, a seasoned politician who previously represented Gada/Goronyo Federal Constituency for four consecutive terms.

Adar’s long legislative experience and name recognition across Sokoto East are considered major assets in the unfolding contest. His tenure in the National Assembly helped him cultivate relationships across different segments of the district, giving him a potential advantage in mobilising support.

Nevertheless, his political trajectory has not been without setbacks. His loss in the 2023 general elections to a first-time entrant marked a significant turning point, raising questions among some party members about his current political standing.

Additionally, reports surrounding his resignation from a recent political appointment have generated debate within party circles. While some view the move as a strategic step to focus on the senatorial ambition, others believe it could complicate his chances depending on how party rules and internal expectations are interpreted.

Alhaji Isa Sadiq Achida

Perhaps one of the most strategically positioned contenders is Alhaji Isa Sadiq Achida, the immediate past state chairman of the APC and the current North-West Zonal Secretary of the party. Achida’s political relevance is closely linked to his longstanding association with Senator Aliyu Magatakarda Wamakko, widely regarded as the leader of the APC in Sokoto State and a dominant force in the state’s political architecture.

Achida’s rise within the party structure has been steady and calculated. From his earlier role as commissioner during the administration of Attahiru Bafarawa to his later reappointment under Aminu Waziri Tambuwal, he has built a reputation as a seasoned administrator with cross-party experience.

His decision to resign from a commissioner position in 2018 to contest for the APC state chairmanship marked a defining moment in his political career, a gamble that ultimately paid off.

During his tenure as state chairman, Achida played a central role in repositioning the APC in Sokoto State, leading the party to a significant victory in the 2023 governorship election. Even during its period in opposition, the party under his leadership secured three senatorial seats, nine House of Representatives seats and a majority in the State House of Assembly during the 2019 general elections-an achievement that continues to strengthen his credibility within party ranks.

Beyond his administrative credentials, Achida is widely regarded as a grassroots politician with deep connections across Sokoto East. His decision to remain in his hometown of Achida despite ongoing security challenges in parts of the senatorial district has been interpreted by supporters as a demonstration of resilience and solidarity with his constituents. This perception, combined with his proximity to the party’s power structure, positions him as a formidable contender in a delegate-driven primary system.

Alhaji Umar Ajiya Isa

Also generating interest in the unfolding race is Alhaji Umar Ajiya Isa, a former staff of the Nigerian National Petroleum Corporation (NNPC), who is believed to have close ties to the political family of Bafarawa. His potential entry into the contest is widely seen as an attempt by certain political interests to reassert influence within the APC structure in Sokoto East.

Unlike other aspirants, Ajiya Isa has yet to test his popularity at the polls and is generally viewed as lacking an established grassroots political base. However, analysts caution against dismissing his chances outright, noting that Nigerian politics often accommodates late entrants who possess strong elite backing and the financial capacity to quickly mobilise support.

His success, therefore, may depend on his ability to build a viable political structure within a relatively short period.

Beyond the individual strengths and weaknesses of the aspirants, several broader factors are expected to shape the outcome of the APC senatorial ticket in Sokoto East.

Chief among these is the role of zoning arrangements and informal power-sharing agreements within the party. While no official zoning formula has been publicly declared, internal negotiations among party leaders could influence which areas or blocs are favoured in the final decision.

Intra-party cohesion is another critical variable. The APC in Sokoto State has, in recent years, navigated internal tensions and competing interests among its stakeholders.

The extent to which party leaders are able to manage these differences and present a united front ahead of the primaries will significantly impact the credibility and acceptability of the eventual candidate.

Equally important is the influence of key political power brokers whose endorsements often carry significant weight in delegate-based primaries. Alignments with such figures could prove decisive, particularly in a contest where no clear frontrunner has emerged.

Security concerns are also expected to feature prominently in the calculations of party delegates. Sokoto East has faced persistent challenges related to banditry and rural insecurity, issues that have directly affected livelihoods and community stability.

As a result, delegates may prioritise candidates who are perceived to possess the capacity, influence and legislative competence to effectively advocate for security interventions and development at the national level.

Political analysts suggest that in such a context, the ability of aspirants to articulate clear policy positions and demonstrate a track record of engagement on security-related issues could influence delegate preferences.

Despite the growing intensity of political activities, stakeholders within the senatorial district have expressed concern over the apparent lack of structured reconciliation efforts among aspirants. In contrast to other zones where party leaders have reportedly initiated consultations to manage ambitions and prevent divisions, Sokoto East appears to be lagging in this regard.

This absence of early consensus-building mechanisms has contributed to a sense of uncertainty among party members, with multiple camps emerging and competing for influence. There are also speculations that behind-the-scenes discussions are ongoing between state party leaders and select aspirants, including individuals perceived to have significant financial resources.

As the political calendar advances, observers believe that the coming months will be critical in determining the trajectory of the race. Formal declarations, alliance-building and intensified grassroots mobilisation are expected to reshape the current landscape, potentially narrowing the field and clarifying the balance of power among contenders.

For now, the contest remains open, defined by a delicate interplay of ambition, strategy and negotiation. While no aspirant has established a clear lead, the eventual outcome will likely be determined by a combination of early momentum, strategic alliances and the ability to navigate the intricate dynamics of party politics in Sokoto State.

In the end, the race for the APC senatorial ticket in Sokoto East is not merely a contest of individuals but a reflection of broader political currents within the state-where influence, loyalty and timing converge to shape the path to power.

A former chairman of the Osun State Water Corporation Board, Hon. Samuel Oyedotun, on Thursday declared his intention to contest the Osun East Senatorial election on the platform of the Accord Party, stating that his emergence as the party’s candidate would boost the chances of Governor Ademola Adeleke in the forthcoming governorship poll.

He commended the administration of Governor Ademola Adeleke for improving road networks and executing major projects across cities in the state, stressing that such infrastructural development is critical to long-term economic growth.

Oyedotun affirmed his readiness for the senatorial seat, citing his experience, capacity, and commitment to effective representation.

Speaking with journalists in Osogbo, he urged the people of Ife and Ijesa to support a candidate from Ile-Ife, noting that the senatorial seat has historically rotated between the two regions.

He argued that since Ijesa has occupied the position for two consecutive terms, it is only fair and just for the seat to return to Ife in the next election cycle.

The Modakeke-born politician further stated that he enjoys the backing of the Ooni of Ife and the people of Ile-Ife, especially at a time when the long-standing Ife/Modakeke rivalry has been resolved.

He also highlighted his personal contributions to society through his foundation, particularly in the areas of education and healthcare, noting that his record of service predates his political ambition.

As interest rates continue to fall, bond prices have risen, opening a window for investors to take profits. But is this the right time to sell?

Christine Gatakaa, Head of Fixed Income Trading at Capital A Investment Bank, explains the relationship between interest rates and bond prices. She also breaks down how secondary bond markets work and what investors should consider before deciding whether to sell.

Kenya Reinsurance Corporation (Kenya Re) plans to expand into the asset management business in a bid to diversify its revenues and reduce reliance on its core reinsurance operations amid stiff competition from regional players.

Asset management involves investing money on behalf of clients, including corporates, institutions and individuals, to help grow their wealth while mitigating risk. Asset managers charge service fees.

The firm is already recruiting consultants to conduct a feasibility study on the planned entry into the asset management business, signalling its intention to formalise the expansion into fee-based investment services.

The reinsurer, long known for underwriting risk, now wants to enter an arena dominated by banks, fund managers and insurance-backed investment arms. It hopes that securing a seat at the table of money managers will turn its pools of capital into a stream of fees.

The feasibility study is expected to assess market opportunities, regulatory requirements, capital needs and potential business models for the new venture. Kenya Re is open to options such as setting up the business from scratch as an asset management subsidiary or acquiring an existing fund manager.

‘The corporation is seeking to engage a consultant to undertake a comprehensive feasibility study and advisory services for the establishment of an asset management subsidiary,’ the reinsurer said in a disclosure.

‘This initiative is part of the corporation’s strategic objective to diversify revenue streams, enhance shareholder value and expand into the financial services sector, specifically in fund and wealth management,’ it added.

Kenya Re is entering a space that already has several major insurance groups offering asset management services through subsidiaries, which focus on pension schemes, unit trusts and high-net-worth portfolios. Major banks also offer asset management services through subsidiaries or wealth management desks.

Market entry

The consultant will be required to determine the commercial, financial and strategic viability of establishing an asset management subsidiary and advise on the optimal market entry strategy.

In addition, the consultant will identify and profile potential acquisition targets and provide transaction advisory services, including valuation and acquisition support, should Kenya Re opt for a buyout instead of a greenfield setup.

The feasibility study will also explore competitive dynamics in the asset management industry, which is currently dominated by banks, fund managers and a growing number of independent investment firms.

If implemented, the shift would see Kenya Re move beyond its traditional role of underwriting risk for insurers to actively managing funds, potentially leveraging its large investment portfolio and balance sheet strength to generate additional income streams.

The move could also position Kenya Re to better utilise its investment expertise, as reinsurers typically hold significant financial assets to back their underwriting obligations.

Earnings pressure

Kenya Re’s push into asset management reflects a broader trend among insurance and reinsurance firms globally, which are increasingly turning to investment-related services to stabilise earnings.

Asset management services allow insurers and reinsurers to earn recurring fees while also deepening relationships with institutional clients such as pension funds and corporates.

Kenya Re has maintained a Sh839.94 million dividend despite net profit retreating by 11.6 percent to Sh3.92 billion in the financial year ended December 2025.

The reinsurer attributed the drop in profitability to underperformance in the company’s international treaty business and its operations in Zambia and Côte d’Ivoire.

Kenya Re, which is 60 percent owned by the Kenyan government, serves over 80 markets through its head office in Kenya, as well as three subsidiaries in Côte d’Ivoire, Zambia and Uganda. It said last year it was planning to set up a subsidiary in Tanzania and an office in India.

Betting firms will be barred from using influential personalities and past winners of large prize money, or face fines of up to Sh20 million, under proposed changes aimed at curbing the gambling craze.

They will also be banned from depicting betting as a source of income or associating gambling with success, according to the Gambling Control (Advertising) Regulations, 2026. The rules seek to rein in advertisements that lure Kenyans into betting with the promise of quick money or financial gain.

Those found in breach of the regulations face a fine not exceeding Sh20 million, imprisonment for a term not exceeding 20 years, or both.

A gambling craze, mainly among the youth and the unemployed, has forced the State to tighten regulatory checks alongside steep taxation on both punters and firms.

Ad crackdown

‘The objective of these regulations is to protect minors and other vulnerable persons from being targets of gambling activity advertisements and maintain ethical standards and the integrity of the gambling industry,’ the Gaming Regulatory Authority of Kenya (GRAK) says.

The popularity of gambling has surged in recent years in Kenya, driven by unemployment, which has pushed many individuals to seek alternative income streams, as well as increased internet penetration and mobile telephony.

A joint report by the Central Bank of Kenya and the Kenya National Bureau of Statistics shows that an estimated 40.4 percent of Kenyans aged between 18 and 45 years are actively betting.

The report further shows that they spend an average of Sh1,845 a month on betting, eating into their earnings and plunging some into debt.

Kenya has one of the highest shares of youth engaged in betting in Africa, with an estimated 76 percent participating.

Cost pressure

Tightening the noose on betting advertisements is seen as key to reducing the sector’s appeal, even as the government eyes additional measures to make operations costly for firms.

The State has proposed a new licence for key staff at all betting firms. Foreigners in such positions will pay Sh300,000, while Kenyans will pay Sh50,000.

Additionally, foreign shareholders or directors will pay Sh300,000 for a licence, while locals will part with Sh100,000.

If adopted, the licences will add to the operational costs facing betting firms, which already shoulder heavy tax obligations.

Currently, betting firms pay a 15 percent tax on gross gaming revenue, a corporate tax of 30 percent on profits, and income tax at a rate of 16 percent. They are required to remit the taxes daily by 1am.

Gamblers, on the other hand, pay an excise tax of 15 percent on every betting stake and a further 20 percent withholding tax on winnings.