Category: Business Daily

IFRS 20 (Regulatory Assets and Regulatory Liabilities) is the recently issued IFRS Accounting standard that requires organisations subject to regulatory agreements to provide information on their regulatory assets, liabilities, income and expenses.

The new standard is effective from January 1, 2029, with earlier application permitted. The information provided by organisations applying IFRS 20 is intended as an addition to the information they provide on IFRS 15 (Revenue from contracts with customers).

It provides users of the financial statements a comprehensive picture of compensation for regulatory goods or services and a better assessment of the organisation’s prospects for future cash flows.

Regulatory agreements are pacts that create regulatory assets and regulatory liabilities, which entitle organisations to compensation for regulatory goods or services supplied in a period and specify that part or all of that compensation for regulatory goods or services supplied in a period is charged to customers through regulated rates in a different period, creating a timing difference.

IFRS 20 will help users understand how these timing differences affect the financial statements. It will improve comparability, transparency and the overall quality of the financial statements.

The new standard replaces IFRS 14 (Regulatory Deferral Accounts) and aims to reduce diversity in practice regarding accounting for regulatory balances.

The standard is likely to affect organisations in the utilities, energy, and transportation sectors of the economy.

The changes to the financial statements for entities applying IFRS 20 include presenting current and non-current portions of regulatory assets and regulatory liabilities on the balance sheet, presenting all regulatory income less all regulatory expense as a revenue line item in the statement of profit or loss and providing the reconciliations and maturity analyses of regulatory assets and regulatory liabilities in the notes to the financial statements.

IFRS 20 provides two transition approaches: the retrospective approach and the modified retrospective approach.

Organisations are expected to present and adjust comparatives for the immediately preceding period, irrespective of the transition approach applied.

Companies subject to regulatory agreements that create regulatory assets and liabilities should commence a process to assess the impact of the new standard on their organisation and financial statements. The mandatory reporting requirement introduced by IFRS 20 on regulatory assets and liabilities will drive consistency and improve the quality of financial reporting.

When Joshua Oigara took over as chief executive of KCB Group in 2012, he spent considerable time trying to emerge from the shadow cast by his predecessor, Martin Oduor-Otieno.

More than a decade later, that shadow remains firmly in place.

Mr Oduor-Otieno, who was recently appointed chairman of Allianz-Sanlam Insurance Kenya, has joined a select club of corporate leaders who have chaired more than one listed company at once, cementing his position as one of Kenya’s most influential boardroom figures. He also chairs the board of the East African Breweries Limited (EABL).

The distinction reflects a career that has spanned banking, public service, corporate governance and executive coaching, earning him a reputation as one of the country’s most respected leadership voices.

His standing was built largely during his tenure at KCB, where he served as chief executive from 2005 to 2012.

At the time, the lender still carried many of the bureaucratic characteristics associated with State-controlled institutions. Kenya was emerging from years of economic stagnation and a banking sector that was still finding its footing after the reforms that followed the end of President Daniel arap Moi’s administration.

Invigorated by the reformist energy that followed the election of President Mwai Kibaki and the Narc government, Mr Oduor-Otieno embarked on an ambitious transformation programme that turned KCB from a lumbering State-controlled bank into one of East Africa’s most profitable financial institutions.

By the time he left, KCB had entrenched itself as the region’s largest bank by assets and one of the Nairobi Securities Exchange’s most valuable firms.

It was not the first time he had been called upon to help transform a struggling institution.

Before joining KCB, Mr Oduor-Otieno was among a generation of technocrats tapped by former President Moi to help steer key economic institutions at a time when Kenya was battling high inflation, weak growth and strained relations with international donors.

The government was under pressure to restore confidence in the economy and improve the performance of public institutions that had long been criticised for inefficiency.

Those who worked with him say his ability to drive change while maintaining consensus among stakeholders quickly distinguished him from many of his peers.

Ironically, one of the leadership lessons he now teaches is the importance of knowing when to leave.

In a 2025 interview, he argued that chief executives should avoid overstaying in office because organisations can become excessively dependent on one individual.

“There is the risk of overstaying, where the person and institution become one thing and people over depend on you, such that when you exit they may not necessarily know how to move,” he said.

He cites the experience of legendary Manchester United manager Sir Alex Ferguson, arguing that long-serving leaders sometimes leave institutions struggling to adapt after their departure.

“Anything between six and ten years is good. Beyond ten years is stretching it because you run the risk of running short on ideas.”

For Mr Oduor-Otieno, the transition from executive leadership to coaching was deliberate.

After leaving KCB, he founded Leadership Group Limited, a consultancy focused on governance, leadership development and executive coaching.

Over time, the firm has become a destination for executives seeking guidance on leadership, stakeholder management and organisational transformation.

He says one of the biggest lessons he learnt during his own career was that competence alone is not enough.

“In coaching, one of the things that has come up is that one needs to understand their stakeholders quite well,” he said.

“Your good work alone or your competencies alone may not necessarily yield the kind of results that you’re looking for.”

That philosophy has made him a sought-after figure in corporate Kenya.

Besides chairing East African Breweries Plc and Allianz-Sanlam Insurance Kenya, he also serves as a non-executive director of BAT Kenya Plc and AfricaNenda Foundation.

Away from the boardroom, Mr Oduor-Otieno remains deeply influenced by the values instilled by his late father, a primary school teacher.

His father, who died in 2004, taught him discipline, ethics, faith and hard work.

“He was a very staunch Catholic, and that has informed my upbringing and even today I remain quite close to the church and so do my children,” he once said.

Born and raised in a modest household, he watched his father overcome adversity after losing his own parents at a young age.

Those experiences shaped his views on resilience, responsibility and leadership.

Now in his sixties, Mr Oduor-Otieno speaks frequently about family, faith and personal balance.

He has been married for more than four decades and is a father and grandfather.

Despite occupying some of Kenya’s most powerful corporate positions, he remains an introvert by his own admission.

He says he deliberately avoids carrying work into his private life and prefers spending weekends with family or travelling.

Indeed, attempts by Business Daily to reach him on Sunday for this article proved futile. Repeated phone calls went unanswered while WhatsApp messages remained unread – behaviour entirely consistent with his long-held rule that weekends are reserved for rest and family.

“When I’m on holiday or over weekends, I’ve tried not to carry work home and therefore my weekend is for family and travelling,” he once explained.

That discipline may partly explain his longevity.

While many executives struggle to reinvent themselves after leaving corner offices, Mr Oduor-Otieno has successfully transitioned from chief executive to mentor, from banker to boardroom leader.

Today, as he takes up yet another major chairmanship, his influence on corporate Kenya appears stronger than ever.

The man who once transformed KCB is now shaping the leaders who run Kenya’s biggest companies.

Kenya’s goods trade deficit widened at a double-digit rate in the first three months of 2026 on increased imports of industrial materials, food and fuel that outpaced record export earnings, highlighting growing reliance on foreign supplies and increasing pressure on foreign exchange earnings.

A goods trade deficit occurs when a country’s total imports of physical products surpass its total exports over a specific period. This means the nation spends more on imported goods than it earns from selling its own products abroad.

Data from the Kenya National Bureau of Statistics (KNBS) shows that the deficit in merchandise trade grew 17.4 percent to Sh437.03 billion in the January-March period from Sh372.12 billion in the corresponding quarter last year.

The widening gap means Kenya spent Sh437 billion more on imported goods than it earned from merchandise exports, underscoring a longstanding challenge of generating sufficient export revenues to match the country’s import needs.

Imports rose 14.4 percent to Sh740.8 billion during the quarter from Sh647.6 billion a year earlier, while exports increased by a slower 10.3 percent to a record Sh303.8 billion.

Kenyan exporters have historically cited tariff structures in key export markets as a major obstacle to value addition. Many traders prefer exporting raw produce because semi-processed and processed products can attract higher duties in destination markets, particularly in Europe, making value-added exports less competitive.

President William Ruto has previously argued that exporting raw commodities deprives the country of jobs, industrial growth and higher export earnings.

‘For decades, we have exported our tea, our coffee, our livestock, our minerals, our cotton, our hides and skins, and even our fish in raw form only to import them back at a premium as finished products,’ he said earlier.

He stressed that value addition is critical to increasing incomes across supply chains and helping Kenya capture a larger share of the value generated from its exports.

The country’s import bill in the opening quarter of the year was driven largely by a sharp increase in food purchases from international markets.

Food and beverage imports jumped 40.9 percent to Sh81.6 billion from Sh57.9 billion in the first quarter of 2025, representing an additional Sh23.7 billion spent on imported food products.

The increase made food and beverages one of the largest contributors to the widening trade deficit during the review period.

Industrial supplies remained Kenya’s biggest import category, rising by 10 percent to Sh277.5 billion from Sh252.2 billion in the corresponding quarter last year and exerting pressure on the trade balance.

Fuel and lubricant imports increased 15.8 percent to Sh158.8 billion from Sh137.2 billion, reflecting the country’s continued dependence on imported petroleum products.

Transport equipment imports increased 26.9 percent to Sh68.7 billion from Sh54.1 billion, while machinery and other capital equipment imports climbed 8.5 percent to Sh97.2 billion, pointing to continued investment in productive sectors of the economy.

Consumer goods imports rose 7.8 percent to Sh53.7 billion from Sh49.8 billion in the first quarter of 2025.

Despite the widening deficit, Kenya posted its highest first-quarter export earnings on record.

Food and beverage exports, the country’s largest export category, increased 5.2 percent to Sh109.2 billion from Sh103.8 billion.

Consumer goods exports rose 7.4 percent to Sh68.3 billion while transport equipment exports increased 32.5 percent to Sh3.3 billion.

Exports of machinery and capital equipment more than doubled to Sh11.2 billion from Sh5.2 billion a year earlier, representing the fastest growth among major export categories.

The gains were, however, partly offset by a decline in industrial supplies exports, which fell 14.6 percent to Sh50.1 billion from Sh58.7 billion.

The trade figures highlight Kenya’s long-running struggle to sustainably narrow its goods trade deficit despite steady growth in exports.

Economists have often linked the imbalance to the country’s reliance on traditional agricultural exports such as tea, coffee and horticultural produce, much of which is shipped abroad in raw or minimally processed form.

This limits the value Kenya captures from its exports, compared with finished products that typically command significantly higher prices in international markets.

Tea, one of Kenya’s largest foreign exchange earners, continued to face headwinds during the quarter.

Tea export earnings declined to Sh45.3 billion from Sh46.1 billion a year earlier as export volumes fell to 151,562 tonnes from 157,515 tonnes.

Coffee provided a bright spot, with export earnings rising to Sh16.8 billion from Sh15.7 billion despite export volumes dropping to 15,848 tonnes from 16,894 tonnes.

The higher coffee earnings suggest exporters benefited from stronger international prices rather than increased volumes.

A Chinese contractor has abandoned the site of the Sh20 billion Soin-Koru Multipurpose Dam Water Project, which straddles Kisumu and Kericho counties, raising fresh concerns over the fate of one of President William Ruto’s flagship water infrastructure projects.

An audit report has revealed that China Jiangxi International Kenya Limited, the contractor behind the project, was not on site when officials from the Office of the Auditor-General conducted an inspection, casting doubt on whether the dam will be completed within the scheduled timelines.

The National Water Harvesting and Storage Authority awarded the contract for Lot One of the Soin-Koru Multipurpose Dam Water Project, covering the dam component, to China Jiangxi under a joint venture arrangement on May 11, 2022, at a contract sum of Sh19.99 billion.

The project is being undertaken through a joint venture between China Jiangxi and its parent company, China Jiangxi International Economic and Cooperation Company Ltd.

The project commenced on August 27, 2022, and is scheduled for completion on August 27, 2027.

However, a physical inspection by auditors revealed that little progress had been made despite the project having consumed nearly three years of its implementation period.

‘The contractor is not on site,’ Auditor-General Nancy Gathungu noted in the audit report for the National Water Harvesting and Storage Authority for the financial year ended June 2025.

It is unclear whether the contractor has since returned to the site.

Efforts to obtain a response from China Jiangxi were unsuccessful. A company representative contacted by the Business Daily had not responded to questions sent via text message by the time of publication.

The Auditor-General’s report further revealed that several critical components of the dam had either not commenced or were significantly behind schedule.

Among the works yet to begin are the construction of a 54-metre-high zoned earth rock-fill dam, diversion culverts, coffer dams, seepage control works, grouting, diaphragm walls, relief wells and laboratory testing facilities.

The contractor had also not started construction of Intake Tower B, river diversion works, road pavements, drainage structures, access roads, water abstraction facilities, hydropower infrastructure and security installations.

Only the side-channel spillway, comprising a concrete-lined chute and plunge pool, had commenced, with auditors estimating progress at about 15 percent.

The Auditor-General also observed that the resident engineer’s offices, laboratory and staff houses remained incomplete.

Project stakes

The latest setback threatens to derail a project that the government has repeatedly described as critical to improving water security, flood control, irrigation and industrial development in western Kenya.

The multipurpose dam, which will sit on approximately 2,170 acres along the Kisumu-Kericho border, is expected to store 93.7 million cubic metres of water.

The project is designed to supply 72,000 cubic metres of water daily for domestic and institutional use, irrigate about 2,570 hectares of land and generate 2.5 megawatts of hydropower.

Areas expected to benefit from the project include Kisumu City, Ahero, Chemelil, Miwani, Awasi, Muhoroni, Koitaburot, Koru and Rabuor.

The dam is also expected to help contain perennial flooding in the Nyando basin while supporting agricultural production in surrounding areas.

The project has been earmarked as a key off-site infrastructure investment supporting the planned 1,000-acre Kisumu Special Economic Zone in Miwani and is listed among the flagship projects under Kenya’s Vision 2030 development blueprint.

Construction activities began in 2023 following compensation of affected landowners. The project displaced an estimated 1,200 residents.

The findings come at a time when China Jiangxi is facing scrutiny over other public projects.

The company was previously questioned by Parliament over the troubled Hazina Trade Centre project owned by the National Social Security Fund (NSSF). Legislators raised concerns over the reduction of the building from 36 floors to 15 floors without a corresponding reduction in contract costs and amid questions over documentation supporting the variation.

Separately, the Auditor-General has raised concerns over delays in the Sh1.96 billion Umaa Dam Water Supply and Irrigation Project in Kitui County, which is being implemented by a joint venture involving China Jiangxi International Economic and Technical Cooperation Company Ltd and Vanqo Roads and Engineering Ltd.

Most men his age wake up slowly. They take morning leisurely walks, switch on the television, or sit back and let the day unfold at an easier pace.

Professor Charles Orero does none of that. At 73, he wakes up, sits at his desk, takes a fresh notebook, and begins to write, be it on a weekday or weekend.

Day after day, Orero pours his thoughts on a paper, only stopping at lunchtime, after which he comes back and writes some more until late in the evening. This has been part of his life since he retired in 2016.

Some are blue. Others black. A few red. All are carefully arranged, labelled, and preserved like artefacts. Each one , Orero says, represents roughly a month of work. Each one is completely drained of ink.

They are evidence of his purpose after retirement, his intellectual productivity, and the legacy he is building.

It is also how he has stayed off the perilous path that sees many men slowly wither away after stepping away from active work.

‘If you retire and just sit there, you will die,’ he says matter-of-factly.

He is still engaged in academia, teaching online at the Kenya School of Revenue Administration. The pace is, however, lighter than his decades-long career at the Kenya Revenue Authority (KRA), where he rose to Assistant Commissioner over 37 years of service.

But the real work, he insists, is elsewhere.

The discipline of paper and ink

At 73, Orero’s mornings are still defined by writing. He sits at his desk, opens a fresh notebook, uncaps a biro pen, and writes until lunchtime. After lunch, he returns and continues.

The rhythm has defined his life since he retired from full-time public service in 2016.

Most men his age, he acknowledges, slow down. He did not.

A second life in book

Since retiring, Orero has written eight books. Four have been published, one is awaiting release, and three are still in progress. Most run to 400 pages or more.

Every one of them begins the same way: by hand. Not typed. Not dictated. Written, page after page, through repeated drafts of the same sections.

‘Page one, page two, page one, page two,’ he explains. ‘Then I take it and start typing.’

It is slow, deliberate work in a fast, digital world. But that is precisely the point. Writing by hand, he says, keeps his mind engaged. It forces thought to keep pace with ink.

‘It slows me down just enough to think clearly and deeply about what I’m putting on the page.’

And the pens are witnesses to that process. One after another, they are exhausted, replaced, and quietly added to the cabinet.

The man behind the routine

Before retirement, Orero spent 37 years at KRA, rising through the ranks in revenue administration. That long institutional life, he says, shaped his discipline and his refusal to stop working altogether.

It also left him with a warning he never forgot. ‘If you retire and just sit there, you will die,’ he repeats the phrase that has become both philosophy and instruction to anyone who seek his wisdom.

For him retirement was a transition, rather than termination. His days now, he says, are structured with precision: writing in the morning, revising in the afternoon, reading in the evening. Even weekends are quiet extensions of the same intellectual routine.

‘My life is readership,’ he says. ‘I cannot avoid reading every day.’

The pen, for him, is an extension of that daily conversation he has with ideas. And the results speak for themselves. He is 73 years old, sharp, energetic, and producing work that younger people have not attempted. ‘I have not changed much,’ he says, sitting straight, eyes clear and steady.

The quiet archive of pens

The cabinet of 180 pens was not planned. ‘I was just putting them there,’ he says.

‘I thought maybe 50,’ he says. ‘When I counted, they were far more than 50.’

The final tally was 180. Each pen lasts about a month. He buys them in bulk from the University of Nairobi bookshop, paying between Sh20 and Sh30 apiece. He does not track expenditure.

‘I’m not interested in the price,’ he says. What matters is what they produce.

Why he writes

The books themselves reflect concerns that have followed him through his career. They cover ground that he feels strongly about, areas where he noticed that very little had been written before and where he believed he had something real to offer.

His first book is on pride in knowledge. Growing up, he watched people be dismissed and looked down upon for not attending the most prestigious schools.

‘They would ask, ‘We didn’t see you,’ meaning you did not go to Alliance, you did not go to Nairobi University,” he recalls.

That quiet cruelty stayed with him. He wrote the book to push back against it, to tell Kenyans that education belongs to them too, no matter where they started. He says several people have gone back to school after reading it.

His second and third books, two volumes on charity and economic empowerment, came from his fascination with how great philanthropists like Warren Buffett, Bill Gates, and the Rockefellers gave generously while building lasting wealth at the same time.

‘When you do charity, you are also doing economic empowerment. It is not just charity alone,” he says.

The volumes carry a foreword from Manu Chandaria, one of the most respected business figures in East Africa.

He has also written on personality virtues, making the argument that good character and good habits are the real foundation of any successful life.

‘If you have good ones (virtues), you will be successful. If you don’t, you are not successful,” he says plainly.

He is currently working on books on wealth and devolution, and another that simplifies the world of taxes for ordinary people, drawing on his long career in revenue.

‘I’m not copying anybody,” he adds. ‘They are very original.”

Recognition and legacy

Now, Orero wants recognition for what he has built. The idea of a Guinness World Record emerged only after he counted his pens and reflected on the scale of his work.

‘What I want is just recognition,’ he says. ‘Not the material bit of it.’

He says he is not chasing money or celebrity. He is seeking acknowledgment that a retired man can, through consistency alone, produce eight substantial books written entirely by hand and measured, almost inadvertently, through the consumption of 180 pens.

He also hopes his story carries a wider message. Young people, he says, often want outcomes without process.

‘Start something small,’ he advises. ‘After starting, the others will follow.’

The philosophy of endurance

There is no sense of urgency in the way Orero speaks, only certainty. He sits upright, composed, deliberate in his phrasing.

He sees no contradiction between his pens, his books, and his ambitions. They are all part of the same continuum: repetition, discipline, accumulation.

‘Nobody has done it and nobody will do it,’ he says, not as boast, but as conclusion.

Outside his study, retirement often looks like slowing down, withdrawal, silence. Inside his, his faithful companions,

a desk, a notebook, and a pen uncapped await at the start of every morning.

And, somewhere behind him, a cabinet slowly filling with the quiet record of a life that refused to stop writing.

The nametag may read Vincent Odhiambo, Regional Director of Ashoka, but that would be false advertising. What he really is, is a contemporary yogi. His mind is whizzing: here, he is thinking about his family and friends and ‘people who come into your life for a reason’.

There, his thoughts drift to systems and consciousness. He ruminates a lot on whether he could have been taller, but by the time he got to that water, his brothers had drunk most of it.

In many ways, he is a construction of his thoughts, spending vast amounts of time chained behind his brain cells. Or hanging out with much older people, getting good advice, a nutrient-rich broth made from boiling down the bones of life.

‘Don’t forget that life is all about relationships,’ he says.

That has always been his north star. His intentionality in relationships. Understanding how to take advantage of your advantage.

‘I am a fireball,’ he says, ‘but also a wallflower.’

Not so much an overthinker, then, as he is a deep thinker. The wisdom plucked from the tendrils along the journey. Maybe that’s the real gift of success, not the money or the fame, but the wisdom and the life lessons.

What do you know about yourself that not many people do?

I am fascinated by why systemic change is so hard to achieve.

We often blame funding, policy or a lack of coordination, but I still struggle to understand why, despite the efforts of many well-intentioned people and organisations, we often fall short. I’m constantly thinking about the gap between our ambitions and the results we actually deliver.

Are you living the life you thought you would be at this age?

My journey sort of prepared me for this moment. I grew up with a very high consciousness of social and political issues, and was primarily thinking about inadequacies, imbalances and injustices around me. That set me on a path that I think is basically what I am living now.

I said to myself, ‘Why is it that there are people who thrive within these systems and there are people who are not able to?’ And that led me on a journey from social work to community organising to leadership entrepreneurship, and now systems thinking, where I can be part of the solution in terms of removing barriers for people.

What is the least fun thing about you?

[Chuckles] I tend to oscillate more towards complex, insightful conversations. Things that are philosophical and require thinking outside the box. I like exploring that which is not being explored.

That is annoying sometimes, especially for people who don’t get it. It kind of comes out as, ‘Why are you always being the devil’s advocate?’ Or as being obstinate and argumentative.

I see a ring on your finger. Of the two roles, which one has demanded more from you – this job or that ring?

There is a way they fit into each other. Leadership is all about relationships. It is about systems, processes, culture, and balancing those two is not easy because on both sides there are demands and things that need to be delivered.

The difference is that I have someone who has known me, who has seen me through all the different faces, and experienced the different versions of me: waking up full of energy, and another quieter version of me coming back at the end of the day, a wallflower.

That is grounding because that is the one person who provides all the inspiration and motivation. Don’t forget that life is all about relationships.

How has your spouse influenced the way you lead?

Good question. You see this pattern [on the wall]. Accountability, transparency, trust, innovation, respect and excellence [ATTIRE]. These are our values at Ashoka. But interestingly, accountability, trust and transparency are things we speak a lot about at home. These were basically my wife’s pillars, and finding grounding in these values, both at home and at work, has really shaped how I show up.

Are you a better husband or a better father?

Haha! If you ask her, she’ll say I’m a better father. If you ask the boys, they’ll say I’m a better husband. If you ask me, I’d say I try to strike a balance. But I always find that these are two different variables.

You can’t really measure what it is about being a husband that you can bring to being a father, and I deploy myself to each as appropriately as possible. Most people would point strongly in the direction of me being a better father due to my resolve to remove barriers for other people and help young people find a superpower they can contribute to changing the world.

What’s an underrated joy of fatherhood?

Fatherhood itself. Knowing there are people in this world who owe their being in this world to you. That in itself is joy. And you have a clean slate to mould them, train them and teach them.

What kind of father are you being to your children that you missed out on in your childhood?

A present father. Present meaning engaged and involved. My dad was present but not engaged. I think people know me with my sons more than they know me alone. A guard recently stopped me in a mall and asked how they were. I never experienced that level of involvement. I always want to know what they are thinking or planning, and whether they want us to go for a walk or cycling.

Which part of fatherhood has forced you to grow?

Making sure I don’t compare my sons, and avoiding those one-off statements like, ‘Oh, you should have…’ Initially, it was not easy, but over time, I’ve mastered it. And learning how to balance work, the time I spend with them, and the time I want to spend with my wife too. I know how they feel when I am not around.

Do you have a family tradition that glues you together?

Yes. We do dinner together every evening. We have moments where we read together and moments where we play together, sing and dance. But dinner is our tradition, and afterwards, prayers.

We also have movie nights, and every birthday has to be celebrated and planned for. We also enjoy cooking together. I enjoy cooking with them more because if I blunder, they won’t know [chuckles].

I am a hands-on person, which helps with my mental space as I am always reflecting or processing something, and you never get to rest your brain by just resting it. I need some activities to reset.

What’s your signature meal?

I don’t think there is one, haha! Every dish requires some level of creativity. If they come home and see the meal is set, they will know it is me who has done it because they have never tried that combination before [chuckles]. Almost like sandwiching everything, haha!

Which decade of your life demanded the most from you?

If I look at my life journey, I see the curious mind; the wanting to think through individual challenges and societal challenges, and trying to marry those. How is it that some people thrive and some people don’t?

As a child, I often asked myself, why is this teacher caning me for nothing? And that sparked questions about the imbalance of power. That consciousness was already a burden; understanding that human potential is not necessarily matched with opportunity.

What do you wish you’d learnt sooner in life?

That change does not come easy. And also the different levels of impact, from direct impact to indirect impact. Initially, I lent a lot of my energy to things that had direct impact, only to realise later that it was not sustainable or bringing about the kind of change that we want to see.

And as Vincent?

The complexities around what I call the interconnectivity of issues. When I approach something, it is from an understanding of how different aspects of it are interconnected, and understanding that relationships are not always just what you think.

People don’t turn out this way or that way by choice; there are so many things around that. If I had learnt that earlier, I would not have judged people so much.

Speaking of, what piece of advice do you wish you had not listened to?

[Chuckles] Actually, the one thing that I say contributed much to my worldview, and the person that I became, was that I hung out a lot with people who were older than me. I loved conversations that questioned things and required big, bold thinking, and I would only get this from people who were older than me.

I remember they told me, in Dholuo, that a ship capsizes when it is about to dock. You can interpret that in so many different scenarios, and it teaches you how to stay grounded.

But if I must know?

If you must know, someone once told me that hanging out with my sons was too much. That was pretty terrible advice.

Did hanging out with older people make you cautious?

Wiser, at a very early age. Being able to think through things a lot, and that meant oscillating more towards caution [chuckles].

Have you kept the promises you made to yourself as a young man?

I’d say the promises are evolving. Finding ways to address imbalances and inequalities is a constant theme for me. And I’d say with the roles that I have played, and the positions that I have been in, being part of teams that are keen on moving the needle is bringing me some level of satisfaction; and in that way, I am keeping the promise.

What bad habit have you failed to kick?

Haha! My waking-up time. It’s an unhealthy habit, but I am used to waking up early since back in the day, when my dad was going to work or coming home at dawn, I’d be up waiting for him.

That doesn’t sound like a bad habit.

It doesn’t? [chuckles]

Tell me then, what’s a small change you made in your life that has made a big difference?

Let me think [long pause]. Moving out to set up my own home. It remains the most transformative step I’ve ever taken.

When was that?

Just after high school, before joining campus. My parents were opposed to it, but I had made my decision. I never turned back, and that’s where I practised all my lessons as a scout [chuckles].

Is there anything you believed about success that has since changed?

Success was getting it right. Getting everything right. But there was also a lot of monetary value attached to that. Over time, you get to realise you cannot get everything right. It’s not a destination, it’s a journey.

But when you’re looking at success from a mission and passion perspective, then everything changes. For me, success will be achieved when everyone has their space, a support system, and a network to live up to their potential.

Do you have a mantra that governs how you live your life?

People come into your life for a reason or a season. The more I reflect on my journey, the more I realise how true that is.

Many of the most important moments in my life happened because someone showed up, offered guidance, made an introduction or created an opportunity. It reminds me that life is ultimately about people and the relationships we build along the way.

What does the perfect weekend look like for you?

I have people who are special in my life, people that I’ve journeyed with. Family, friends, and even colleagues, you know, people in this space. My perfect weekend involves having one of those around.

And, of course, the meaningful conversations with family, friends I’ve made over time, and very specific colleagues as well. I also like to read because I reflect a lot on what has happened. And moving about outdoors with my sons.

It’s a weekend where I get to experience all that. A bit of the wallflower part of me gets to be watered, and then the fireball part of me as well.

Do you have an insecurity that you can share with us?

[Chuckles] I don’t know how to convince myself of this, but I tend to believe that I could have been taller. Most of the time, when I’m meeting people for the first time, they expect somebody way taller than me.

Are you the shortest in your family?

My elder brother is taller than me. The one who follows me is also taller than me. Our youngest was really tall.

What advice do you feel compelled to share?

You don’tget to choose your family. Your friends could end up being circumstantial. But the one person that you deliberately choose – between a stimulus and a reaction, there’s a space to think through, and you’ve exhausted that space, and you’ve decided, this is the person – when you’ve made that choice, this person is part and parcel of your life.

What do you mean?

Meaning is in the intentionality of relationships. I don’t want to narrow it down just to marriage, but intentionality. You have identified someone, and you’re building, you’re together. That intentionality stems from the fact that you have made a choice.

So, every single day, that intentionality must always be there. It must be seen. It must be felt. It must be witnessed.

Did you choose well, based on your advice?

[Chuckles] So, it is because of the beauty that I see with that daily. The two-way intentionality in all this. And that leads me to the conclusion that we got each other. We got the right person for the right person.

Kenya’s digital economy has already demonstrated what’s possible when connectivity, innovation, and policy ambition move in the same direction. Mobile services, fintech platforms, and digital public infrastructure have positioned the country as a regional leader.

Now, as organisations move deeper into cloud platforms, analytics, and artificial intelligence, the question shaping decisions across both public and private sectors is: where should the infrastructure supporting these services sit?

We are seeing more organisations in Kenya and across East Africa asking practical questions about where their data lives, how quickly it can be accessed, and how confidently it can be protected. That shift tells us something important. Infrastructure is becoming part of how institutions think about risk, performance, and long-term competitiveness.

This discussion is also happening against the structural reality that Africa hosts only about 0.6 percent of global data centre capacity, even as demand for cloud and AI services grows. For Kenya, which has positioned itself as a regional digital leader, strengthening local infrastructure is key for several reasons.

One of the most immediate is regulatory alignment. Kenya’s Data Protection Act has changed how organisations think about accountability for personal information.

It doesn’t prevent cross-border hosting, but it does make organisations more aware of the responsibility they carry when data moves outside national jurisdiction. Keeping critical workloads closer to home simplifies compliance and strengthens trust with customers and regulators.

Performance is another driver that’s becoming harder to ignore. As services move online, users expect systems to respond instantly. Businesses want their platforms to support real-time decisions. Developers need infrastructure that can keep pace with modern applications.

Hosting infrastructure locally improves service quality in ways that are immediately visible, particularly as AI and real-time analytics become embedded in everyday operations. Proximity to compute environments matters even more when workloads involve speech processing, video analytics, or predictive modelling.

Cyber security is also shaping the conversation.

When organisations depend heavily on infrastructure located far beyond their operational environments, they extend their exposure across multiple networks and jurisdictions. This isn’t to say that global platforms are less secure, but local infrastructure makes matters less complex, giving institutions more control over how services are delivered and how risks are managed within national regulatory frameworks.

There’s also a broader strategic point that’s sometimes overlooked. Data has moved beyond being an operational resource to being a part of how countries build innovation capacity.

When infrastructure sits closer to the markets it serves, it becomes easier for startups to experiment, for universities to access advanced computing environments, and for enterprises to scale new services with confidence. This changes what’s possible across the ecosystem, creating exciting new possibilities for local innovation and economic growth.

AI makes this especially clear. Kenya has strong momentum as a digital innovation hub, but scaling AI needs specialised infrastructure with reliable power, cooling capacity, and secure connectivity. Bringing that capability closer to the market prepares organisations to move from pilot initiatives into production environments with greater certainty and lower barriers to entry.

And we’re not just talking about large enterprises. SMEs form the backbone of Kenya’s economy, and they’re often the fastest adopters of new digital tools when access improves.

Local cloud and AI capabilities allow these smaller businesses to gradually expand into advanced services rather than making large upfront investments. That changes how innovation spreads across the economy.

The search for the next chief executive of the Kenya Civil Aviation Authority (KCAA) has been suspended by the High Court following a petition challenging the authority of the agency’s board to oversee the exercise.

The court halted the recruitment and appointment process pending the hearing and determination of an application seeking broader conservatory orders against the board.

The dispute centres on a selection process advertised on April 24, 2026, days after the terms of five KCAA board members allegedly expired, prompting claims that the board lacked the legal authority to oversee the hiring exercise.

The recruitment was triggered by the exit of Emile Nguza Arao, whose three-year term as KCAA director-general ended on April 22, 2026. Following his departure, KCAA appointed Nicholas Bodo in an acting capacity pending the appointment of a substantive office holder.

The case, filed by petitioner Humphrey Bulimu, claims that board vacancies, expired terms and quorum deficiencies undermined the validity of major decisions at the State agency.

Quorum question

Mr Bulimu argues that the board lacked the quorum required under Section 17(2) of the Civil Aviation Act when it resolved to advertise and commence the recruitment process for a new director-general.

He wants the court to declare the entire process unlawful, unconstitutional, null and void.

The petition also targets board member Anne Too, whose continued tenure is being challenged.

Mr Bulimu argues that Ms Too’s appointment was tied to the unexpired term of a previous board member and that her mandate ended on April 20, 2026.

He wants the court to declare that any participation by her in board business after that date was unlawful and contrary to the Civil Aviation Act.

According to the petition, the terms of five other board members also expired on April 20, leaving the board without the quorum required to transact business.

The petitioner contends that a board lacking quorum could not lawfully initiate or supervise the recruitment of the aviation regulator’s chief executive.

Wider challenge

Mr Bulimu claims the exercise contravenes various provisions of the Constitution, the Civil Aviation Act, KCAA’s Human Resource Policies and Procedures Manual and the Career Progression Guidelines, 2025.

He is seeking an order quashing the board’s decision to advertise and undertake the recruitment process.

He also wants a permanent injunction barring KCAA from proceeding with, concluding or making any appointment arising from the recruitment exercise unless the board is lawfully constituted.

The petition further seeks orders compelling the Cabinet Secretary for Roads and Transport to fill vacancies on the board through an open, transparent and competitive process.

Mr Bulimu is also asking the court to direct that any future recruitment of a KCAA director-general strictly complies with the Constitution, the Civil Aviation Act and the authority’s internal human resource rules.

Court documents state that the recruitment advertisement required applicants to submit applications through the board chairman’s email address.

The petitioner, however, argues that the arrangement compromised the integrity and independence of the process and departed from previous recruitment practices.

He also claims that the qualifications required for the position were lowered contrary to KCAA’s career guidelines and human resource policies.

Status quo

KCAA opposed the application at the preliminary stage. Its lawyers argued that the dispute was premature and questioned whether the Constitutional and Human Rights Division was the proper forum to hear the matter.

The authority maintained that the recruitment process had not reached the stage alleged by the petitioner.

However, the court said issues, including jurisdiction, would be determined after the parties filed substantive responses.

For now, the court said, the public interest favoured preserving the status quo.

The judge warned that completing the recruitment amid unresolved allegations of illegality could expose taxpayers to avoidable costs.

The court said reversing a completed appointment would carry ‘a heavy cost to the public coffer and reputational damage of a public entity in the aviation industry.’

The judge held that the recruitment had not been completed and found it necessary to preserve the dispute before the court.

‘I am persuaded that the application for conservatory orders is urgent and that there is necessity to grant interim relief to preserve the substratum of the application and the petition,’ the judge ruled.

The court added that completing the recruitment before the case is heard could render the proceedings nugatory.

The case will be mentioned on June 24.

Employers risk having their bank accounts frozen, assets seized and tax PINs deactivated under proposed legal changes aimed at enforcing the remittance of pension contributions.

The Kenya Revenue Authority (Amendment) Bill, 2026, will empower the tax czar to collect unremitted pension contributions from employers, targeting a growing stock of retirement deductions withheld from workers but not transferred to pension schemes.

Unremitted pension contributions stood at Sh66.41 billion at the end of December 2025, denying workers an opportunity to grow their retirement savings and build adequate financial security for old age.

The proposed law will give KRA the responsibility of enforcing the collection of unremitted pension deductions, akin to the tough measures meted out on firms and individuals who fail to pay taxes.5236572

The Retirement Benefits Authority (RBA) has been pushing for the law change, which would introduce stringent penalties for employers who fail to honour pension remittances.

The RBA had previously disclosed its proposal in a policy note seeking amendments to the Retirement Benefits Act and Regulations for the fiscal year beginning July 1.

‘…empower the authority to enforce direct recovery of unremitted contributions from defaulting sponsors, including by way of garnishee orders,’ the RBA said in the policy note.

‘This will anchor the collection of the unremitted contributions as part of the functions of KRA under the Kenya Revenue Authority Act.’

Garnishee orders direct a third party, such as a bank, to release funds held on behalf of a debtor and pay them directly towards an outstanding obligation.

KRA is the government agency mandated to collect and receive revenue on behalf of the State and has broad enforcement powers against defaulters. Its enforcement tools include debt recovery, agency notices, preservation of funds and asset caveats.

Unremitted pension deductions fell to Sh66.41 billion in the six months to December 2025 from Sh72.5 billion in June, coinciding with RBA proposals aimed at curbing the trend through tougher penalties and enforcement measures.

Public sector burden

The public sector accounted for 93 percent of the unremitted contributions, with private employers responsible for just seven percent of the arrears, highlighting persistent compliance failures among State institutions.

County governments, public universities and other government agencies remained the largest defaulters, continuing a trend that has repeatedly exposed weaknesses in public payroll and expenditure controls.

Most defaults have been concentrated in entities that rely heavily on Exchequer funding, where delayed Treasury disbursements disrupt statutory payments.

County governments have been particularly affected, grappling with delayed transfers, rising wage bills and competing recurrent expenditure obligations.

The unpaid deductions represent money already withheld from workers’ salaries but not remitted to pension schemes, delaying investment returns and eroding retirement savings.

At present, late remittance of pension contributions attracts penalties of Sh20,000 or five percent of the outstanding amount per month, whichever is higher.

The RBA has previously proposed imposing personal liability on chief executives of firms that fail to remit pension contributions, while also seeking to strengthen penalties and interest provisions.

Read: RBA targets to punish CEOs for unremitted pension billions

The surge in unremitted pension contributions suggests that existing sanctions have failed to deter the practice.

‘It is purely indiscipline because if you look at it from a government point of view, all government agencies have budgets that they prepare on an annual basis,’ said RBA chief executive Charles Machira in a previous interview.

‘Those budgets are remitted to the National Treasury for approval or through their line ministry.’

The RBA has also proposed reforms that have yet to be adopted into law, including the creation of a two-pot system in Kenya’s retirement benefits sector.

The introduction of sub-accounts is expected to make pension benefits more competitive relative to other savings products.

The regulator has further proposed waiving VAT and excise duty on retirement benefit scheme management, administration expenses and audit fees.

China’s largest electric two-wheeler manufacturer, Yadea, has entered the Kenyan market with a range of electric motorcycles as it seeks a share of the country’s fast-growing e-mobility sector.

The Chinese firm has unveiled five electric motorcycle models in Kenya, targeting taxi operators, commonly known as boda bodas, personal commuters and last-mile logistics businesses.

Yadea, widely recognised as the world’s largest manufacturer of electric two-wheelers, has not disclosed plans for local assembly.

The company told the Business Daily that its motorcycles would cost up to $3,000 (Sh388,320), depending on the model.

Currently, internal combustion engine (ICE) motorcycles in Kenya typically retail at between Sh155,000 and Sh310,000, while electric alternatives from other EV companies range from Sh180,000 to Sh400,000.

Yadea said it will distribute its motorcycles through local dealerships, placing it at a cost disadvantage compared with local assemblers, who currently benefit from tax incentives.

Its motorcycles will use a battery-swapping model, allowing riders to exchange depleted batteries for fully charged units at swap stations.

The firm is partnering with local rival Arc Ride to access its battery-swapping infrastructure.

‘Yadea is working with local ecosystem partners, including Kenyan battery-swapping company Arc Ride, to advance electric motorcycle and battery-swapping solutions for local mobility services,’ the firm said.

Battery swapping has emerged as one of the key strategies EV firms are using to accelerate electric vehicle adoption in Kenya.

Most companies sell motorcycles without batteries – the most expensive component of an EV – to keep upfront costs competitive with petrol-powered alternatives.

Riders access batteries through subscription or rental models and swap them at designated stations, many of which are located at traditional petrol stations.

It also eliminates the downtime associated with conventional charging, which can take up to two hours.

Sector race

Kenya’s electric motorcycle market currently comprises local assemblers and operators Spiro, Arc Ride, Roam Motors and Ampersand.

Spiro, which also operates a battery-swapping network, is currently Kenya’s largest electric motorcycle player, with more than 20,000 motorcycles on the road.

Its offering includes a commercial motorcycle dubbed Kifa, which comes with a dual-battery pack that promises a range of up to 150 kilometres on a single charge.

By comparison, local competitors with dual-battery packs, such as Roam, offer a range of up to 160 kilometres.

Electric vehicle assemblers are exempt from the 35 percent import duty charged on fully built vehicles and enjoy lower Import Declaration Fee and Railway Development Levy charges on completely knocked-down kits.

They also benefit from a reduced excise duty of 10 percent and zero-rated value-added tax (VAT), helping to lower final retail prices.

Yadea did not comment on whether it plans to establish a manufacturing or assembly facility in Kenya to benefit from the incentives.

Tax shift

Still, its entry comes as Kenya considers tax changes that could reshape the sector.

The Finance Bill 2026 proposes reclassifying electric motorcycles, e-buses, e-bicycles, solar batteries and lithium-ion batteries from zero-rated to VAT-exempt status.

The change would deny assemblers the 16 percent VAT refunds they currently claim from the Kenya Revenue Authority on assembly inputs, potentially reducing a key subsidy that has helped lower EV prices over the past three years.

Yadea’s entry follows its expansion into Ethiopia, a much larger EV market than Kenya, three years ago. The company says it has sold more than 48,000 electric motorcycles there.

‘Following our success in Ethiopia… we are confident that our innovative electric mobility solutions will meet the growing demand for sustainable transportation in Kenya and the wider East African region,’ John Zhang, Yadea’s East Africa market director, said.

Data from the Africa E-Mobility Alliance shows that electric motorcycles accounted for 31,869 of Kenya’s 43,324 registered electric vehicles by the end of 2025, with most deployed in the boda boda sector.

Founded in 2001, Yadea is widely regarded as the world’s largest electric two-wheeler manufacturer by sales volume and has ranked first globally for annual sales for eight consecutive years.

The company operates 10 manufacturing bases across China, Vietnam, Indonesia, Mexico, Brazil and Thailand. It sells electric motorcycles, scooters, e-bikes, batteries and accessories in more than 100 countries through a network of over 40,000 retailers.

Yadea said it sold 4.8 million electric scooters in 2025 and a total of 16.3 million electric two-wheelers globally during the year.