Category: Business Daily

Lilian Ombui bought her house in 2019, and inherited what most homeowners in Kajiado get. The compound was completely bare and dry. It had not just poor soil, but literally no usable soil at all. The ground was so dusty that it could not support even the most basic plants without serious intervention.

While most of her neighbours filled their compounds with cabros, Lilian had a different plan.

On the 40×80 plot, she started with basic landscaping and years later her compound is so green that it would be hard to imagine that it is Kajiado.

‘My neighbour was the first inspiration. Despite having a high mortgage, her priority was to build a seating area in her garden. I thought, ‘Why not?’ The space was sitting there unused.”

‘I had to purchase an entire truck of soil,’ Lilian recalls. ‘That alone costs about Sh18,000. Then I enriched it significantly with manure and compost to make it viable for planting.’

“People want to skip this step and go straight to planting beautiful flowers,” Lilian observes. “But without good soil, those beautiful plants will struggle and die. Invest in soil first, and everything else becomes easier.”

Soil care isn’t a one-time event in Lilian’s garden. She consistently top-dresses planting areas, especially after dry seasons, doing all this maintenance work herself. “This ongoing fertility management has been crucial for maintaining the lush appearance even in dry conditions,” she notes.

Her kitchen waste, grass clippings, and manure all find their way back into the soil.

Located in Nkoroi,on the Kiserian-Isinya road, Lilian has transformed what was once a dead space into a compact home garden, that real estate agents use photos of her property to market other houses in the estate.

“When my neighbour wanted to sell their house, the real estate agents used photos of my garden to market their property,” Lilian recalls with a smile. “The photos went viral.”

The incident revealed both the uniqueness of what she had accomplished and the market demand for it. In an estate full of paved yards, her lush garden stood out.

Her background in architecture and interior design gave her a unique advantage in creating the transformation.

Six years after buying the house, which sits in a gated community, for Sh7.5 million, someone recently offered her Sh10 million, a Sh2.5 million appreciation driven largely by the transformation of her garden.

However, these figures only hint at her successful gardening journey in a small space. Creating a lawn in the dry conditions was one of Lilian’s biggest challenges.

She had tried three different types of grass before finally settling on the current one.

The first was the Zimbabwe grass, which she chose because of its beautiful, thick carpeting effect.

“It looked stunning in the areas with full sun,” she recalls. “But it struggled terribly in the shade. The inconsistent growth made my lawn look patchy, and it also needed so much water to maintain that lush look.”

Next was the Arabica grass, which turned out to be her most stressful experience. “Arabica looked elegant when it was thriving, but it was prone to diseases. Brown patches would appear, and they needed immediate treatment. It required constant care, specific fertilisers, and a lot of watering,” says Lilian.

“I felt enslaved by my lawn,” she admits. “It was supposed to bring me peace, but instead it brought stress.”

Her solution came in the form of Pemba grass, which has transformed her lawn. “Pemba is a game-changer for dry areas,” Lilian says.

“Even when it looks stressed during dry periods, it bounces back quickly with watering. It tolerates shade better than Zimbabwe and has no disease problems.”

The installation cost her Sh10,800 for six bags. “It took about three weeks to fill in properly with consistent watering,” she notes. “The difference is that I’m no longer enslaved by my lawn. I can enjoy it.”

For watering, she relies on her own water supply, from a 5,000-litre tank, and waters her entire garden at least three times per week.

Reading the plants

“I’ve learned to read my plants. When the grass blades begin to fold or lose their elasticity, they’re telling me they need water.”

The discipline required for consistent watering is the biggest barrier for many would-be gardeners.

“People get excited about plants but underestimate the commitment. If you can’t commit to regular watering, stick with extremely drought-tolerant species or don’t garden at all,” says Lilian.

Walk through Lilian’s garden today and you’ll encounter over 30 different plant varieties, each chosen for its ability to thrive in specific microclimates within her small plot.

In shaded areas, she’s planted various ferns, philodendrons, snake plants, and spider plants. “Ferns are surprisingly drought-tolerant once established,” she says. “And snake plants are nearly indestructible, perfect for beginners.”

For sunnier, drier spots, she relies on Song of India, Chinese money plant, Italian cypress, and crotons. These plants can tolerate intense sun and limited water due to their thicker leaves, waxy coatings, or deep root systems, which allow them access to moisture other plants can’t reach.

She has screened the water feature with beautifully trimmed bamboo.

One of her most unique additions is Spanish moss, also known as old man beard, an air plant that requires no soil. “People sometimes think it’s dead coconut husk, but no, it’s alive!” she laughs. “You just mist it with water. It gets its nutrients from the air. They’re rare and often used in upscale hotel decorations.”

Ironic failure

While Lilian has always enjoyed success, she reveals an ironic failure.

“I’ve killed some succulents, ironically,” she admits. “In a garden where you’re watering frequently for other plants, succulents easily get over-watered. I now keep them in a separate, drier zone.”

She’s also learned about plant compatibility. Some species don’t belong together because they have conflicting needs.

“You can’t put a moisture-loving plant next to a drought-tolerant one and expect to water them the same way. Either one will get too much water or the other will get too little.”

Her secret lies in strategic design techniques that make the space feel much larger than its actual dimensions.

“Vertical growing has been crucial,” she explains, pointing to climbing vines on walls, hanging plants from her custom-built pergola, and tiered pot arrangements. “When horizontal space is limited, grow up.”

Beyond aesthetics and property value, Lilian’s garden has created a tangible improvement in her family’s quality of life, one she didn’t fully anticipate when she started.

“My previous apartment felt like an oven,” she says. “But this garden has created a microclimate. Temperatures here feel cooler than the surrounding area.”

Shade from taller plants has created a comfortable outdoor space, protecting it from direct sun.

“I spend mornings having breakfast in the garden and evenings relaxing there. It’s become the heart of our home,” she says.

She invests about eight to 11 hours per week in maintenance.

Unlike many gardeners who hire help for routine maintenance, Lilian handles everything by herself.

“I do all the maintenance myself-the watering, plant care, arrangement, even the mowing and pruning. The hands-on involvement is crucial. You develop an intimate understanding of each plant’s needs.”

“You can’t delegate the details,” she says. “Hired help might water on schedule, but they won’t notice the subtle signs that a plant is struggling or needs adjustment. That observation comes from daily interaction.”

She now offers landscaping services to other homes in her estate and beyond, sells plants from her propagation nursery, and provides garden design consultations.

“People see what’s possible and want it for themselves. But they don’t know where to start, or don’t have time for the trial and error I went through. That’s where I come in.”

For consultation clients, she visits their property, assesses soil and light conditions, and creates a tailored planting plan with species suited to their specific microclimates. For full landscaping clients, she manages the entire transformation from soil preparation to plant installation to maintenance training.

“I’ve learned to propagate many of my plants, creating a small nursery in my garden,” she explains. “When I see a plant doing well, I propagate it to sell or share. I also sell pots and containers, and custom soil mixes.”

Six years later, Lilian considers her garden a work in progress rather than a finished project. The learning continues, the improvements accumulate, and new ideas keep coming up.

“I’m planning a gazebo with a fireplace for entertaining, and a dedicated kitchen garden behind the house,” she shares. “Right now, I grow vegetables and herbs in pots, but I want a proper space for that.”

When neighbours with mansions visit, they are amazed. “They have bigger houses, but they don’t focus on the outside. They’ve created concrete jungles.”

As South Africa hosts the Group of Twenty (G20) meeting, marking the first time the premier summit of heads of state and government is held on African soil, significant political momentum is expected to boost trade and logistics across the continent.

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Representatives from Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the US, and two regional bodies-the European Union and the African Union-will gather in Johannesburg from November 22 to 23.

This moment carries the potential to be a game-changer for the trade and logistics sector.

The combined force of the African Continental Free Trade Area (AfCFTA) and high-level G20 backing could create larger and more predictable markets. With clearer scale and certainty, logistics firms may be more willing to invest in expanded warehousing, improved fleet management systems and cross-border logistics hubs, confident that trade volumes will rise significantly.

At the same time, a strong G20 emphasis on simplifying customs procedures and reducing non-tariff barriers promises to reduce friction and cost. Since the core business of logistics is the efficient movement of goods, smoother borders translate directly into faster truck turnaround times and lower operational costs for clients. As efficiencies improve, new business opportunities are also set to emerge.

Cold-chain logistics will likely expand as demand grows for transporting perishable goods, such as agricultural produce and pharmaceuticals, across the continent.

E-commerce logistics is expected to surge as digital trade protocols under the AfCFTA take shape, driving demand for parcel delivery and last-mile services. Furthermore, companies that can offer integrated multimodal solutions, those spanning sea, road, rail, and air, will find themselves in especially high demand.

If the African Union presents a compelling business case for the AfCFTA, major global logistics giants may treat this as a signal to deepen investments and build local partnerships, bringing with them advanced technologies and international best practices.

This raises an important question: can the G20 summit enhance Africa’s participation in high-value, global, multimodal supply chains? The answer is yes-and it should be one of the summit’s ultimate objectives.

Africa currently sits at the margins of global supply chains, largely exporting raw materials and importing finished goods. A coordinated G20 push for the AfCFTA and the Single African Air Transport Market (SAATM) could help shift this dynamic.

The AfCFTA offers a continental market large enough to support regional value chains. For instance, instead of exporting cocoa beans directly, one country could process them into butter and powder, another could manufacture chocolate, and SAATM could enable the rapid export of the final premium product to global markets.

Multimodality is central to such value addition. SAATM provides the air transport capacity necessary for high-value, time-sensitive goods; from electronics and pharmaceuticals to fresh produce and specialised machinery parts, allowing Africa to integrate into global ‘just-in-time’ manufacturing networks.

Meanwhile, AfCFTA’s land and sea frameworks facilitate the movement of intermediate goods across borders and along coastal routes, significantly reducing production costs.

Hosting a G20 summit in Africa must therefore be more than symbolic. For trade and logistics businesses, it signals a new era of scale, investment and opportunity.

For Africa’s position in the global economy, it marks an important shift from the periphery toward becoming an integrated and competitive player in high-value supply chains.

Last year, non-communicable diseases (NCDs) accounted for 61.7 percent of all deaths in Kenya, up from 52.4 percent in 2023. Kenya’s health burden has grown significantly. This makes universal healthcare costlier than it was two years ago, with studies showing that NCDs are increasingly affecting younger age groups.

Kenya’s health budget has steadily increased. In the 2024/25 fiscal year, the national government plans to spend approximately Sh121.97 billion on health services, up from Sh107.52 billion in 2023/24, when the allocation represented about 11 percent of the national budget.

However, other sectors, such as education, defence and infrastructure, receive larger shares while a significant portion of the budget is devoted to debt servicing.

The typical government response to such data is often alarmist. It tends to focus on the high costs of treating tobacco-related illnesses and the strain they place on an already limited health budget.

But why crawl when we can fly? Rather than reacting only to disease, we can empower tobacco consumers through education, prevention and informed choices, enabling them to reduce harm before illness sets in. This is where the concepts of regulatory divergence and regulatory lag (or conflict) come in.

Regulatory divergence happens when the industry’s product innovation outpaces or conflicts with government-approved public health strategies. On the other hand, regulatory conflict occurs when government regulations or official guidelines fall behind rapid product innovation, leading to gaps in enforcement or public guidance.

The problem with the Kenyan government’s approach is that it solely supports Nicotine Replacement Therapy (NRT), which is often expensive.

Meanwhile, the tobacco industry offers commercial alternatives that can yield the same public health benefits more quickly, alleviating the health burden. Consumers tend to prefer commercially marketed alternatives over medically approved options such as NRT. These alternative products are usually more accessible, appealing and familiar.

Often driven more by emotion than reason – a fact the tobacco industry has understood far better than any health ministry – most consumers also prefer to feel responsible for their choices rather than be told what to do.

However, public health strategies that engage industry through regulated partnerships, product standards or responsible marketing, often achieve better outcomes than purely adversarial approaches. The collaboration between industry and the regulator can align commercial innovation with public health goals, ensuring consumers have access to safer alternatives while advancing public health objectives.

Also, the industry often has the resources, budgets and know-how to reach consumers effectively, through marketing campaigns, promotions and product education. Leveraging these channels, under strict regulation, can complement public health efforts, ensuring accurate information reaches users while promoting safer alternatives.

Open, transparent communication, grounded in science and tailored to local realities, tends to be far more effective in guiding behaviour than prohibition or heavy-handed messaging. But censorship only makes consumers more stubborn. Unfortunately, governments influenced by the World Health Organisation (WHO) often perceive the tobacco industry as an adversary rather than a potential partner.

A nation is only as healthy as the priority it gives to its people’s well-being; as such, Kenya needs to invest in alternative ways to tackle the disease burden if it is to sustain its Universal Health Coverage plans and address the growing burden of disease.

The tobacco industry can be a partner in consumer education, not in promoting use, but in providing accurate information about product risks and safer alternatives.

It is time to reevaluate the collaboration between government and industry in this sector to see if a cordial note can be struck in empowering consumers to choose safer alternatives.

A company associated with tycoons Peter Munga and George Kariithi is locked in a vicious dispute with Chinese investors over ownership of coal mines in Kitui, with deposits estimated to be worth more than Sh3.9 trillion.

China’s Fenxi Mining Industry Co. Ltd has threatened to file arbitration proceedings against Kenya, alleging that the government has, for over a decade, unlawfully allowed Mr Munga and Dr Kariithi to frustrate its 21-year Mui Basin concession.

Mr Munga and Dr Kariithi are co-owners of Great Lakes Corporation, which is claiming a 30 percent stake in blocks C and D of the Mui coal basin in Kitui County.

Fenxi Mining Industry Co. Ltd insists it dumped Great Lakes Corporation in 2018 for failure to contribute an agreed $3.875 million (Sh500.9 million) towards the concession fee for the mining blocks.

On August 26, 2025, the Chinese investors served the Energy and Mining ministries with a notice of default, demanding consents required to initiate coal extraction within 60 days or face arbitration proceedings in Mauritius.

Fenxi Mining Industry Co. Ltd claims that the government has ignored an Attorney-General advisory opinion, which stated that the concession rights lay in the Chinese firm’s hands as the signatory to the agreement, and that it was free to work with, or replace Great Lakes Corporation, as a local partner.

The agreements signed by Kenya and Fenxi Mining Industry Co. Ltd indicated that disputes are to be resolved through arbitration in Mauritius.

Fenxi Mining Industry Co. Ltd claims that Mr Munga and Dr Kariithi have, for over a decade, frustrated its efforts to either start coal mining or sell the extraction rights to other interested investors and now want to sue the government.

Fondly known as the founder of Equity Bank, Mr Munga has, over the years, become a serial entrepreneur with a foothold in different sectors from agro and insurance to education and industrials.

He has recently harvested hundreds of millions of shillings from the sale of Britam and Equity Bank shares.

Mr Munga and Dr Kariithi in 2014 wrote to the Ministry of Energy as board chairman and managing director of Great Lakes Corporation, asking the State institutions to ignore complaints by their estranged Chinese partners.

In the letter, the duo said they were writing on behalf of the Fenxi Mining Industry Co. Ltd and Great Lakes Corporation consortium and that plans to settle the Sh500 million concession fee were at an advanced stage.

‘The undersigned (Mr Munga and Dr Kariithi) referred you to a letter dated 19th February 2014 from the ministry and signed by the chief geologist, which the undersigned stumbled upon by accident while attending the investors meeting in China. This letter was largely a complaint against Great Lakes Corporation,’ said Mr Munga and Dr Kariithi in the letter.

Mr Munga and Dr Kariithi, in the letter, said the consortium’s planned partnerships with third parties to be involved in the coal mining venture were at an advanced stage.

The two cited a meeting with then Energy PS Joseph Njoroge in which it was agreed that any further communication from the ministry would be copied to Great Lakes Corporation. Previously, the ministry had been communicating only with Fenxi Mining Industry Co., Ltd in relation to the mines.

On Friday, Mr Munga said he is not well-versed with the day-to-day operations of Great Lakes Corporation, and advised that we contact Dr Kariithi instead.

Dr Kariithi had not responded to our queries to his known mobile phone number by the time of going to press.

‘In accordance with its rights under the BSA (benefit sharing agreement), on November 10, 2022, the concessionaire appointed Dorse Gems International Ltd as its designated local partner pursuant to Article 2.1.1 of the BSA. However, the government has failed and/or refused to grant the necessary consent for this appointment, thereby breaching its obligations under the agreement,’ said Yang Wusheng, Fenxi Mining Industry Co. Ltd chairman, in the default notice.

‘Instead, the government has continued to entertain a third party, whose engagement was expressly terminated by the concessionaire, and has used this as a basis for preventing the commencement of the project. The government’s representatives have shown a seemingly biased preference for this third party, Great Lakes Corporation Ltd, despite having been formally notified of the termination of its engagement,’ Mr Wusheng added in the default notice.

Coal-rich Mui Basin covers around 500 square km.

Fenxi Mining Industry Co. Ltd was awarded a 21-year concession to extract coal from blocks C and D of the Mui Basin on September 12, 2011, covering half the area with an estimated 400 million tonnes of coal now worth Sh3.9 trillion. The firm brought Great Lakes Corporation Ltd on board as a local partner, with the duo becoming a consortium, Fenxi Mui Corporation Ltd, which was incorporated on February 19, 2013.

The consortium signed a benefit-sharing agreement with the government on December 23, 2013.

To seal the deal, the consortium was required to pay $5 million (Sh646 million) to the government. Fenxi Mining Industry Co. Ltd was to contribute $1.125 million (Sh145.4 million), with Great Lakes Corporation paying $3.875 million (Sh500.9 million).

In past correspondence with the Energy ministry, Fenxi Mining Industry Co. Ltd claimed that Great Lakes Corporation failed to remit its share of the requisite fees.

On February 1, 2018, Fenxi Mining Industry Co. Ltd director Yang Wusheng wrote to the Energy ministry seeking to implement the project to the exclusion of Great Lakes Corporation.

The following month, Mr Munga and Dr Kariithi wrote to the Energy ministry, maintaining that the concession belongs to the consortium, and not Fenxi Mining Industry Co. Ltd.

The tycoons argued that once the benefit-sharing agreement was signed, the concession became the property of the consortium, and not only Fenxi Mining Industry Co. Ltd.

In that correspondence, which bore the letterhead of Fenxi Mui Mining Corporation Ltd, Mr Munga and Dr Kariithi pledged to complete payment of concession fees and other related costs by May 2, 2014.

The two added that the consortium was working with Deloitte Beijing, HSBC’s Nairobi and Hong Kong offices, while engaging financiers such as the US Power Africa Fund to arrange funding for the extraction project.

Fenxi Mining Industry Co. Ltd maintains that Great Lakes Corporation has never paid its share of the concession fees.

On May 7, 2018, Fenxi Mining Industry Co. Ltd terminated its partnership with Great Lakes Corporation on account of the non-payment, triggering a dispute over the latter’s interests in the mining venture.

Then Energy Cabinet Secretary Charles Keter sought to end the dispute by seeking the Attorney-General’s opinion to take a government stand.

Then Attorney-General Paul Kihara Kariuki wrote to Mr Keter on November 19, 2020, stating that the concession is legally owned by Fenxi Mining Industry Co. Ltd, which had the right to choose whether to go solo or include a local partner in the coal extraction project.

‘Fenxi-Mui Mining Corporation Limited (the consortium) was incorporated in February 2013, by the concessionaire (Fenxi Mining Industry Co. Ltd) and its local partner (Great Lakes Corporation) as a special purpose vehicle for the project and could only assume the roles of a concessionaire through an assignment of those rights and obligations by the concessionaire. There is no evidence that this ever happened,’ Mr Kariuki said.

? bwasuna@ke.nationmedia.com

‘Therefore, Fenxi Mining Industry Co. Ltd is the rightful party to implement the concession and has the exclusive right to carry out the works under the concession unless it elects to assign the rights to the Kenyan subsidiary, which assignment should be approved by the Cabinet Secretary as provided under section 51 of the Mining Act, 2016.’

Under the benefit-sharing agreement, the concessionaire was to invest a minimum of $2.622 million (Sh399 million) in implementing the first phase of works.

In the second phase, which involves extraction, the concessionaire was to invest a minimum of $189 million (Sh24.4 billion).

Savings and credit cooperatives (saccos) have cut dividend payouts and increased cash reserves to cover unexpected losses, pointing to the outcomes of heightened regulatory scrutiny that barred the societies from paying unrealistic dividends and bonuses to members.

Latest regulatory disclosures show that the capital adequacy ratio for deposit-taking (DT) Saccos edged up to 17.8 percent in the year ended June 2025 from 17.67 percent a year earlier, while that of non-withdrawable deposit-taking (NWDT)saccos rose to 18.52 percent from 10.88 percent.

The capital adequacy ratio for saccos is a measure of financial strength that indicates the amount of capital a cooperative has in relation to the risks it has assumed through loans and other assets. The ratio indicates whether a sacco has sufficient capital to absorb losses without jeopardising members’ savings.

The latest ratios are above the 16.29 percent for DTs and 8.16 percent for NWDTs that Sacco Societies Regulatory Authority (Sasra) had set for the sector during the review period.

‘Targets surpassed due to increased income retention by saccos and regulatory restrictions on dividend payments,’ says Sasra in disclosures to the Treasury ahead of preparation for the 2026-27 budget.

This signals that more saccos are heeding the regulator’s call for a more conservative balance sheet management.

Sasra, together with the Ministry of Co-operatives and the Commissioner of Co-operatives, have been pushing for improved capital planning, provisioning and investment governance. This pressure has forced saccos to step up their capital buffers.

Last year, the three directed sacco officials to stop paying unrealistic bonuses, dividends and interest, fuelling financial distress and insolvency or risk penalties and jail terms. They cautioned saccos against exaggerating income and loan interest to book higher surpluses and pay dividends.

The call for stronger capital buffers was amplified after the disclosure that saccos were staring at losing more than Sh8.8 billion after their umbrella body, Kenya Union of Savings and Credit Co-operatives (Kuscco), suffered Sh13.3 billion fraud.

The improved capital buffers suggest that NWDTs were under pressure to correct capital shortfalls quickly, especially after the Kuscco-related turbulence.

Unlike DT saccos, which already operate under relatively stringent capital rules, NWDT institutions have historically lagged in meeting capital guidelines due to their smaller size and limited revenue diversification.

Larger, well-capitalised saccos with diversified loan books are expected to continue building buffers comfortably. However, smaller societies may face difficulty balancing capital retention with member expectations for returns in a sector where members are traditionally accustomed to generous payouts.

‘We are going to sustain regulatory intervention to sustain stability. The value proposition that saccos offer members goes beyond dividends and rebates.

Members enjoy loans at cheaper rates in comparison to other financial service providers and should not pressure for higher returns,’ said Sasra acting CEO David Sandagi told the Business Daily.

‘Several saccos were leveraging on external borrowing to pay dividends and rebates, leading to a mismatch between the cost of borrowing these loans and repaying. This led to improper accounting, leading to inflated revenues to cover such shortfalls.’

Lower payouts have allowed saccos to retain more earnings, strengthening their core capital positions at a time when lending risks remain elevated.

Sacco supervision annual report released in September showed saccos cut the average rate of dividends on share capital to 10.46 percent in the year ended December 2024 as they prioritised building stronger capital buffers over higher payouts to members.

The average rate of dividends on share capital dropped from the previous year’s 10.92 percent, marking the first time in three years that the payout has dropped.

The reduced distribution on share capital came in the period, saccos also reduced the average interest on deposits to 7.14 percent from 7.45 percent in the previous year.

The conservative approach to dividend and interest payment resulted in a marked increase in the capital reserves and retained earnings, which grew by 17.55 percent in 2024 to reach Sh197.54 billion compared with a growth rate of just 6.92 percent in 2023.

Despite the drop in distribution to members in percentage terms, there was a growth in payout in absolute terms, with the figure rising by 8.5 percent to Sh59.74 billion last year from Sh55.06 billion in 2023.

The Employment and Labour Relations Court has dismissed a petition by former Kenya National Chamber of Commerce and Industry (KNCCI) CEO Ahmed Farah, who sought to overturn his termination, alleging unfair dismissal and constitutional violations.

In its ruling, the court found that Mr Farah’s claims were contractual disputes improperly framed as constitutional grievances, rendering his petition legally unsustainable.

‘The dispute about fairness of the termination of the probationary service was a contractual issue not importing a constitutional intervention and remedy,’ ruled the judge.

Mr Farah, appointed CEO in November 2024 on a three-year contract with a six-month probationary period, was terminated on April 17, 2025, days before his probation lapsed on May 1.

KNCCI cited poor performance as justification for the termination and that its revenue streams decreased during his tenure as its CEO.

He sued, claiming his dismissal was politically motivated, procedurally flawed, an abuse of power, and in violation of his constitutional rights.

He applied for various orders including reinstatement, an award of damages and an order compelling KCCI to submit its financial accounts to an independent forensic auditor for the period from November 2024 to the date of the audit.

He accused the KNCCI board of converting a performance appraisal meeting into a disciplinary hearing without notice, denying him a fair chance to defend himself.

However, the court found Mr Farah’s constitutional arguments unconvincing. The court noted that Mr Farah failed to provide specifics on how his termination breached constitutional rights.

‘The allegations of rights violations were extremely remote,’ the judge stated, citing a legal principle that bars constitutional petitions where ordinary legal remedies exist.

KNCCI defended its decision, asserting Mr Farah was terminated for poor performance after scoring 44% in an appraisal.

The board claimed he failed to submit a self-assessment as instructed.

They also disputed his claim of defamation, arguing their press release merely confirmed his termination after he announced his departure on social media. The organization argued that his petition was an afterthought.

‘The relationship between him and the respondents has irretrievably broken down,’ said KNCCI’s advocate opposing Mr Farah’s reinstatement bid. ‘He has also failed to prove the allegations of loss of income, reputational harm and emotional distress.’

Crucially, the court upheld KNCCI’s argument that Mr Farah’s acceptance of terminal dues via a signed discharge voucher prevented him from further claims.

With no evidence of defamation or contractual breaches, the judge dismissed all reliefs sought, including reinstatement, damages, and orders for a forensic audit.

He had also sought an order KNCCI to publicly retract the press release issued by the agency announcing his termination.

‘The petitioner neither pleaded nor established through evidence that the respondent had breached the probationary termination clause of the contract of service or the relevant provisions of the Employment Act on termination of probationary service,’ stated the judgement.

Social security systems around the world face a ‘polycrisis’: ageing populations, expanding informal labour markets, and rapid digital disruption at an unprecedented scale, all dramatically changing the retirement landscape.

According to the International Social Security Association’s (ISSA) Social Security Developments and Trends – Global 2025 report, Africa continues to hold the position of the world’s youngest continent, with a median age below 20.

The report notes that Africa should be urgently investing in opportunities for its youthful population, cautioning that it must also start preparing for an ageing future that is inevitable.

The challenge of youth unemployment and future pension adequacy requires foresight. Notably, the report shows that informality, which averages 80 percent of the African workforce, severely undermines pension coverage and fiscal sustainability.

Millions of Africans, particularly in the informal sector, fall into the ‘missing middle,’ or are excluded from both contributory and tax-financed systems.

This dual reality is echoed in other studies. The Organisation for Economic Co-operation and Development Working Paper on Pensions in Africa (Stewart and Yermo), underscores that most African pension systems are still in their nascent stages, characterised by low coverage, limited administrative capacity and fragmented regulatory frameworks.

Kenya’s Retirement Benefits Authority (RBA) 2024 report, Securing Tomorrow: Key Findings on the State of Kenya’s Retirement Benefits Sector, highlights the urgency of reforms to expand coverage and leverage pension assets as a driver of domestic investment.

In Zimbabwe, the Insurance and Pensions Commission’s 2025 sector review draws attention to how macro-economic volatility continues to erode pension adequacy, emphasising the need for regional stability and policy harmonisation.

Retirement security has acquired unparalleled urgency across the continent, with pension schemes holding not only retirees’ dignity but also pushing to be among the engines of sustainable economic development and inclusive growth.

A clear rationale exists for a Pan-African pensions dialogue. There is need for collective solutions in creating investment linkages, sharing data, harmonising regulatory frameworks and innovations that expand coverage and improve scheme governance.

The Public Service Superannuation Fund-led Pan-African Pensions Conference will emphasise the call for resilient systems that can anticipate and adapt to shocks by strengthening governance frameworks, investing in robust data systems and building crisis-ready organisations, able to maintain continuity of benefits under any circumstance.

Through cross-country collaboration, African funds can share strategies for risk management, digital continuity and inter-agency coordination-themes ISSA identifies as crucial to institutional resilience.

This dialogue builds on the experience and initiatives of other pension players, including the just-concluded All Africa Pensions Summit 2025 hosted by the National Social Security Fund (NSSF) Uganda.

The Summit flagged Africa’s development financing gaps at the tune of $1.3 trillion, with pension capital across the continent estimated at between $700 billion. The core proposals focused on the mobilisation of this pension capital as a strategic engine for infrastructure, energy, industrialisation and affordable housing.

One of the most striking insights from ISSA’s Global 2025 report is the persistent coverage gap: now that more than half of the world’s population enjoys at least one social protection benefit, Africa lags far behind, with only 19 percent of people accessing any form of social protection compared with over 80 percent in Europe.

To that end, one of the major challenges-but also an opportunity for Africa lies in the expansion of pension coverage in the informal sector. Some new models already offer replicable blueprints, such as Kenya’s Haba Haba micro-pension scheme or Rwanda’s Ejo Heza long-term savings platform.

The Pan-African Pensions Conference seeks to spur peer learning and cross-border replication of such innovations, informed by ISSA’s global evidence on extending coverage through mobile payments, simplified registration and flexible contributions.

In essence, the core of the Pan-African Pensions Conference is shared learning and continental solidarity. Indeed, ISSA research indicates that regions that institutionalise collaboration through multilateral social security agreements and learning platforms, have greater modernisation and expansion of coverage.

However, Africa still lags behind other regions, with only 18 percent of countries participating in multilateral social security agreements.

The conference accordingly seeks to reverse this through the promotion of dialogue on portable pensions, bilateral agreements and harmonised policy frameworks, that would make it possible for African workers to retain their benefits across borders.

In a continent so affected by migration, regional integration and cross-border employment, portability allows for equity and inclusion.

As such, the PSSF Pan-African Pensions Conference is part of a larger global movement aligned with ISSA’s call for “strong institutions capable of harnessing technology and human capital to extend protection to all,” seeing social security not as a cost but a strategic investment in stability, productivity and dignity.

Taking a cue from the ISSA Global 2025 report, the message is straightforward: if pension schemes are to remain relevant, then they need to change with the times.

In the case of Africa, this change is collaborative, forward-looking and uniquely African, blending traditional solidarity with modern governance and innovation.

For Kenya’s affluent class, protecting legacy wealth increasingly means looking beyond the country’s borders, often to offshore jurisdictions.

For decades, the ultra-wealthy have relied on foreign destinations to safeguard their fortunes through various structures, including trust funds. Jersey, the Isle of Man, and the British Virgin Islands once dominated this map of financial secrecy.

And even though Kenya overhauled its trust laws in December 2021, in reforms praised by experts as ‘leveling the playing field,’ the tide has barely shifted. The wealthy continue to look outward, drawn to the same offshore havens that have long catered to global wealth.

Nevertheless, he notes that one of the major incentives of setting up a trust in Kenya is the tax exemptions, especially on property transfers.

‘There are many benefits to setting up a trust in Kenya, but Mauritius still holds an edge in the incentives it offers compared to Kenya. Neither Kenya nor Mauritius currently imposes an estate duty or inheritance tax. However, in Kenya, unlike Mauritius costs still arise when transferring assets in the form of capital gain tax. This means wealth can be transferred to heirs without incurring an additional tax burden upon death,’ adds Mr Muriithi.

According to Patrick Juma, a wealth advisor at Britam, the preference for offshore trusts is also rooted in history.

‘For years, there were few institutions in Kenya handling trust funds, coupled with the lack of information to the public about trusts. It’s this limited capacity that pushed many wealthy Kenyans abroad to Switzerland and Mauritius, and that has become, sort of, a culture to this date,’ he says.

Mr Juma maintains that, despite several Kenyan companies rushing to set up the trust funds in recent years, many wealthy Kenyans are yet to have full trust in these fresh institutions.

‘Many wealthy Kenyans worry these new local trust institutions lack the experience and stability of their offshore counterparts. They fear collapse or mismanagement. Offshore jurisdictions, meanwhile, have long-established trust industries,’ he explains.

Another driver, Mr Juma notes, is taxation implications in most African countries.

‘Most African countries have complex and heavier tax implications on financial structures,’ says Mr Juma.

But even with Kenya’s improved laws, he points out that legal disputes remain another major reason wealthy families choose offshore trusts.

‘Kenyans are very strategic and very litigious. We’ve seen families fight for years over wealth. Offshore trusts protect heirs from forced heirship claims and reduce litigation risk.’ he adds.

Kenya’s courts have seen some of the longest-running succession battles in Africa. Two notable cases involve the estates of influential politicians Mbiu Koinange and JM Kariuki. The Koinange estate case has dragged on for more than four decades, while the dispute over JM Kariuki’s estate lasted 38 years.

According to the Insurance Regulatory Authority and Kenya Revenue Authority, it is estimated that 20-30 percent of estate value is often lost during succession due to legal costs, disputes, probate delays, and poor planning.

A family trust can bypass Kenya’s long, complex, and often expensive probate process. Trust assets remain outside probate, enabling faster and smoother transfer to beneficiaries, but even then, Mr Juma notes that the probate delays always become a hindrance.

The shilling has weakened to its lowest level versus the dollar in over six months, as dollar supply in the market dipped on Friday, breaking a five-month run that saw the local currency remain static at between Sh129.23 and Sh129.26 against the US currency.

Official data from the Central Bank of Kenya (CBK) shows that the local unit traded at an average of Sh129.35 on Friday, with commercial banks indicating that it had edged lower to an average of Sh129.38 by Monday afternoon.

Before the marginal decline in the last three trading sessions, the dollar was trading within a tight band of between Sh129.23 and Sh129.24 since June.

In that period, the market was characterised by ample supply of dollars, which reduced pressure on the shilling while also allowing the CBK a window to bulk up on its dollar reserves through open market purchases.

Traders however reported that the availability of dollars in the market tightened from the latter part of last week, hence the shilling’s marginal weakening by about 0.1 percent.

‘Dollar supply tightened from Thursday. We are waiting to see whether the regulator will intervene in the market with any sales,’ said a dealer in a commercial bank, who added that the market was fairly balanced at the beginning of last week.

The shilling’s prolonged run at the 129 range, while good for businesses due to predictability of costs and earnings, has raised concerns recently from the International Monetary Fund (IMF) that it was interfering with inflation targeting.

However, the IMF did not give further details on its position that the shilling is overly stable against the dollar.

Kenya, as a member of the IMF, has obligations on its exchange rate dealings where it is required to to allow market forces to influence the currency market. In turn the IMF is tasked with overseeing the international monetary system to ensure its effective operation, a role that includes surveillance of members’ respective exchange rate policies.

The stability against the dollar is in contrast with the shilling’s performance against other major global currencies, having for instance depreciated by 4.6 per cent versus the British pound and 10.5 percent against the euro since the beginning of the year.

The shilling was stuck at the same level against the dollar despite the US currency becoming weaker globally this year, improved balance of payment receipts for Kenya and higher official forex reserves.

Earlier this year, the National Treasury disclosed that the CBK was taking advantage of the friendly market conditions to buy dollars from the market, which was also preventing further strengthening of the currency. The regulator’s position however remains that Kenya has a flexible rate policy, and it only intervenes to iron out volatility.

Speaking earlier this month, Treasury Cabinet Secretary John Mbadi said that the shilling would have strengthened to about 118 to the dollar if it had been allowed free movement in the face of improved dollar inflows.

By the end of last week, the CBK’s official forex reserves stood at a record high of $12.29 billion (Sh1.59 trillion), having risen by a third or Sh400 billion from $9.19 billion (Sh1.19 trillion) at the beginning of this year.

The Affordable Housing Board delivered less than 2,000 units for occupation in the year ended June 2025, making up a small fraction of the 200,000 homes the government aims to build annually under President William Ruto’s flagship project.

Fresh data shows that 1,795 finished units were put on market in the period, with 93 percent of those houses being snapped against a 50 percent target set by the Board.

The sluggish pace of actual construction contrasts with the performance of the housing levy; the 1.5 percent mandatory deduction on monthly pay that employers are required to match.

The Kenya Revenue Authority (KRA) collected Sh73.2 billion in the review year, a report by the National Treasury showed earlier, exceeding the government’s target of Sh63.2 billion by Sh10 billion.

Just three projects were completed in the year under review, comprising 1,080 units in Nairobi’s Mukuru and 110 units in Homa Bay which were both fully occupied, while 605 houses at Bondeni in Nakuru got an occupancy rate of 80 percent.

The report adds that the target for potential homeowners was missed, with 292,326 Kenyans registering on the Boma Yangu portal against a target of 565,800.

‘Target [on affordable housing access was] over achieved. More people than anticipated purchased the completed houses. Target (of potential home owners was) not achieved. Fewer people than anticipated registered on Boma Yangu,’ the Board wrote in Sector Budget Proposal Report for FY 2026/27 submitted to the National Treasury.

The numbers reveal a massive shortfall in overall delivery of affordable units in the second year of implementation of Dr Ruto’s signature project, with the output representing less than a percentage of the annual goal of 200,000 units.

The Sh73.2 billion collected in the year to June represented a 35 per cent rise from the Sh54.2 billion realised in the first full year of the levy to June 2024, when collections narrowly missed the Sh54.6 billion target following a three-month suspension of deductions after courts declared the initial framework unconstitutional.

Despite the robust inflows, disbursement to construction projects has lagged, owing to the phased nature of approvals and development timelines for building of the houses.

A report tabled in Parliament in May by the State Department for Housing and Urban Development, showed that more than Sh30 billion in proceeds from the housing levy was unspent at the time and had been placed in Treasury bills.

This means nearly half of the collections had been temporarily parked in short-term government securities ranging from three to 12 months as the Board awaited the readiness by the projects to absorb the cash.

‘It is not prudent even as government to have money lying idle in an account.

‘The money is safe, fully invested in government securities and the accounts we are operating are Central Bank of Kenya accounts, which have full sight of the government on every expenditure,’ the Board acting Chief Executive Sheila Waweru said in an interview early this year.

‘So we are able to put the money in Treasury bills as a manager of the [affordable housing] fund and it brings in additional money, say Sh2 billion, and that enables us to put up more units. This is a measure for prudent management of the fund.’

The housing levy is a central pillar of the broader affordable housing rpoject, which seeks to provide housing solutions across income segments. The segments are social houses for those earning below Sh20,000 a month, affordable units for workers earning between Sh20,000 and Sh149,000, and middle-income affordable housing for those with salaries above Sh149,000.

The Treasury has set a more ambitious levy collection target of Sh95.84 billion for the financial year ending June 2026, banking on expanded coverage and stronger enforcement.

The Affordable Housing Act 2024 ring-fenced housing levy funds to be spent on building of houses under a special fund, to avoid diversion to other projects in the past where cash meant for stabilisation of fuel prices were, for example, spent on road projects.

The Act also cured the defects identified by the courts and expanded the levy to include workers in the informal sector. The government is, however, yet to roll out a structured mechanism for collecting contributions from the informal sector, which accounts for more than 80 percent of Kenya’s labour force.