Category: Business Daily

The Employment and Labour Relations Court has affirmed the legality of SBM Bank Kenya’s mass redundancy exercise, ruling that the lender followed proper procedures when terminating 97 employees following its acquisitions of Chase Bank Kenya and Fidelity Commercial Bank.

The Eldoret court dismissed a lawsuit filed by a former SBM Bank operations manager who had challenged her termination through redundancy.

Court documents reveal that SBM inherited approximately 800 employees from the two defunct banks-Fidelity Bank in 2017 and Chase Bank in 2018-creating significant duplication of roles among staff.

To streamline operations, the bank first implemented a Voluntary Early Separation Scheme in October 2021, notifying the Labour ministry that compulsory redundancies would follow if the workforce rationalisation targets were not met.

When only 80 employees opted for voluntary separation, SBM proceeded with layoffs, engaging an external consultant to evaluate staff based on skills and performance metrics. Employees who scored below 75 percent in the evaluation were declared redundant.

The former senior operations manager, who earned Sh137,696 monthly and scored 74 percent in the evaluation, had sued, arguing that her termination violated Section 40 of the Employment Act. She cited insufficient notice, claiming the redundancy notice issued on December 6, 2021, took effect the next day, far short of the mandatory one-month notice period.

She further alleged that the bank failed to notify the Labour Office beforehand and did not pro-vide transparent selection criteria for affected staff.

However, the court ruled that the bank followed due process, noting that the redundancy was part of a broader restructuring necessitated by the mergers. The court found that the manager received adequate notice, with her termination letter dated December 14, 2021, setting her last working day as January 15, 2022-complying with the one-month requirement.

She was also paid Sh861,669 in terminal dues and underwent outplacement training. The court dismissed her claims for unpaid house allowance and compensation, noting her salary was consolidated and inclusive of allowances.

Crucially, the judge emphasised that while the Employment Act mandates notice, it does not explicitly require individual consultations in large-scale redundancies, especially where no union representation is involved.

‘The redundancy was procedurally fair and in conformity with the law,’ the judgment concluded.

The ruling also upheld SBM Bank’s counterclaim, ordering the former manager to repay Sh2.3 million plus interest on an outstanding staff loan. Court records showed the claimant acknowledged the debt, but had failed to service it after her employment termination.

The African Development Bank (AfDB) has cautioned that inadequate capacity at the Treasury’s debt office and Parliament, is contributing to Kenya’s spiralling public borrowing.

The continental lender said in a report that the two institutions tasked with overseeing and managing the country’s borrowing are unable to identify fiscal risks to contain rising debt burden.

‘The ability of the National Assembly to provide oversight and undertake rigorous assessment of the debt situation is limited due to shortage of human and institutional capacity,’ said the continental lender in a report on Kenya’s growing debt burden.

‘The situation is compounded by similar inadequacies of the Public Debt Management Office (PDMO) at the National Treasury.’

Years of heavy borrowing for infrastructure, recurrent expenditure and debt refinancing have pushed Kenya’s public debt to risky levels.

At 65 percent of gross domestic product (GDP), the country’s debt is well above the current upper limit of 55 percent of GDP.

The report, dubbed Unpacking the Drivers of Public Debt Dynamics in Kenya, is authored by AfDB country economist Duncan Ouma and senior research economist Martin Nandelenga, and was published last week.

As a lawmaking body, the National Assembly is responsible for managing the country’s debt levels -which it set at an upper limit of 55 percent of GDP.

It is also mandated to oversee fiscal planning and spending, both directly and through departmental and audit committees supported by technical experts.

To strengthen this oversight, Parliament established the Parliamentary Budget Office (PBO) in 2007 to help MPs scrutinise and monitor the national budget and its implementation.

In an interview, PBO director Martin Masinde said the office has adequate capacity, with skilled staff who are capable of executing its role of advising Parliament, but the legislators barely take its advice.

‘Capacity is continuous of course, but PBO has adequate capacity to analyse debt issues, but as to whether the advice is taken by members of parliament remains another issue, which is now within the political arena,’ Dr Masinde said.

He added that the National Assembly’s Public Debt and Privatisation Committee and other key oversight committees, which are supposed to be led by the opposition, aren’t currently functioning effectively as needed.

‘The current structure seems as if the opposition has been subsumed into the entire government structure as it were,’ he said in a phone interview.

The AfDB said Kenya, unlike many middle-income countries, has a solid legal framework for prudent debt and fiscal management, but the legislature’s incapacitation has curtailed effective control of the government’s borrowing appetite.

‘Although there is political will and the legislature for prudent fiscal management, the oversight of debt procurement and usage is hampered by inadequate capacity at the National Assembly,’ said the AfDB.

The problem extends beyond Parliament. The report finds that the Treasury’s PDMO, tasked with ensuring responsible and affordable borrowing, faces similar shortcomings.

‘The PDMO is unable to identify fiscal risks to mitigate rising debt. This is evident in the rapid accumulation of poorly structured debt with short maturity, high interest rates, currency mismatches and financing of contingent liabilities, which have increased repayment pressures.’

Established in 2012 under the Public Finance Management Act, the PDMO was meant to comprise experts dedicated to ensuring cost-effective borrowing and balancing the burden and benefits of debt between current and future generations.

Auditor-General Nancy Gathungu last year revealed last year that one of the main reasons the country ends up with costly loans is the PDMO lacks adequately skilled officers to negotiate them.

She found that the office’s debt policy, strategy and risk management department not only suffer from staff shortages but is also manned by officers who lack the technical skills to properly scrutinise loan terms and negotiations.

Beyond boosting the technical capacity of both Parliament and the PDMO, the AfDB recommends establishing an independent fiscal council comprising experts from the Treasury and academia to guide Kenya’s borrowing.

‘The authorities may consider formation of an independent fiscal council by tapping expertise from the National Treasury and academia to make predictable revenue forecasts, determine fiscal risks and provide advisory services on debt contraction to improve fiscal management,’ said the bank.

The AfDB provides fiscal and economic policy advice to governments across the continent, in addition to offering loans for budget support and special programmes.

Co-operative Bank of Kenya shareholders are set to receive their first-ever interim dividend of Sh1 per share, following the lender’s net profit for the nine months ended September, which rose 12.3 percent to Sh21.56 billion.

The growth in net earnings, up from Sh19.21 billion a year earlier, was driven by an increase in net interest income.

The dividend totals Sh5.86 billion and is the first ever interim distribution to shareholders since the bank listed on the Nairobi Securities Exchange (NSE) in 2008.

Co-op Bank has traditionally paid dividends once a year, with last year’s payout having been Sh1.50 per share, totalling Sh8.8 billion.

The Sh1 per share interim dividend will be paid on or about December 4 to the shareholders on the bank’s register at the close of business on November 26, 2025.

Top shareholder, Co-op Holdings Co-operative Society Limited, will receive Sh3.78 billion for its 64.56 percent stake.

‘The bank has declared an interim dividend of Sh1 per share for the nine months to September 2025, marking a significant milestone and underscoring the confidence that management has in the bank’s strong performance and outlook,’ said Gideon Muriuki, the managing director at Co-op Bank.

Net interest income grew by 22.8 percent to Sh45.27 billion, up from Sh36.87 billion posted in the preceding similar period. Non-interest income retreated slightly to Sh22.11 billion from Sh22.28 billion in the period the lender’s operating income rose 13.9 percent to Sh67.38 billion.

Staff costs

Co-op Bank’s operating expenses increased by 15.4 percent to Sh37.72 billion as it stepped up provisions for loan losses by 31.9 percent to Sh7.35 billion and staff costs rose by 11.5 percent to Sh15.05 billion.

This increase in staff costs was due to the bank expanding its branch network to 217 by the end of September this year, up from 204 in the same period last year.

The increase in branches has seen the lender raise its staff numbers to 5,826 from 5,617.

These additional branches were spread between Co-op Bank and its banking subsidiaries, Kingdom Bank and the Co-operative Bank of South Sudan.

‘The bank is accelerating its premium banking strategy with the launch of state-of-the-art Executive Banking Centres, the latest being the Westlands Square Executive Centre in Nairobi and the Nyali Executive Plus Centre in Mombasa,’ said Mr Muriuki.

Subsidiaries’ performance

Kingdom Bank, which is 90 percent owned by Co-op Bank, saw its net profit retreat to Sh527.59 million from Sh603 million.

Co-op Consultancy and Bancassurance Intermediary Limited posted a pre-tax profit of Sh1.15 billion from Sh824.3 million, while Co-operative Bank of South Sudan returned a pre-tax profit of Sh93.5 million from Sh33.8 million.

Co-op Trust Investment Services Limited contributed Sh624 million in pre-tax profit, more than double from Sh254.9 million as the subsidiary’s funds under management grew by 65.7 percent to Sh496.4 billion.

The review period saw Co-op Bank’s asset base grow 8.6 percent to Sh815.27 billion, while customer deposits grew 6.7 percent to Sh548.57 billion.

The loan book closed September at Sh406.52 billion compared to Sh381.34 billion in a similar period last year.

How come the speed limit on town streets is usually 50kph? Why not even slower.or a bit faster? NG

The best traffic systems do have limits in built-up areas that are sometimes higher and sometimes lower than 50kph. But 50 is by far the most common option, worldwide.

Whatever the limit, anywhere, its first objective is to reduce the chances of an accident happening, as part of a package of measures including well-designed and marked roads, roadworthy vehicles, competent drivers, and observance of related laws which set out the human behaviour protocols for a complex and highly interactive mix of different road users.

A secondary purpose of speed limits is to achieve uniformity and predictability in the general flow of traffic, reducing the differential in speeds between one vehicle and another, minimising obstruction and the need to overtake, etc.

If all those conditions prevail, all road users can go about their business smoothly, calmly and safely, and there should be no accidents, even where hundreds of cars and trucks and buses and bicycles and boda-bodas are interacting with thousands of pedestrians in a matrix of junctions and corners and crossings.

In the best systems, to the greatest possible extent, different forms of traffic are segregated (physically separated), with things like dedicated bus lanes and cycle lanes on the road itself, and pavements either side for pedestrians, in a ‘never-the-twain-shall-meet’ manner. Safety is possible without them, but they make the job easier and even safer.

With or without advanced designs, accidents should only occur when something goes wrong – when a vehicle’s brakes fail, a tyre bursts, a driver is intoxicated, suffers a heart attack, or is distracted by texting, when a child runs into the road, or when a cyclist loses balance.

Only then does the third purpose of a speed limit come into effect: not just to avoid a collision, but to minimise the consequences of a crash when it does happen.

Only then does a ‘specific’ speed (30 or 50 or 70) make a significant difference. Perhaps as significant as the difference between life and death.

That’s because the human body has limits to the shock forces it can withstand, and that’s why motorists have seatbelts and airbags inside safety-cell bodwork, why cyclists and boda-boda riders wear helmets (and sometimes gloves and knee-pads). And that’s where regulators have to think even more carefully.

If while walking down the street, you tripped over a square root or a gentle gerund and fell flat on your face, your nose would hit the pavement at about 15kph.

That can hurt, and even cause superficial injury, but the greatest danger and damage will be to your dignity. The human body can take most 15kph impacts with solid objects and will usually emerge almost unharmed.

There is, of course, a difference between a rickety granny and a professional wrestler or rugby player in this respect.

The ouch would be significantly bigger if you fell off the top rack of a bunk bed while dreaming about.whatever you dream about. In this instance, you would hit the floor at about 25kph.

Whether you awoke in a startled daze or in an ambulance would depend on how you landed. The injury is more likely to be bruising than a breakage, and almost certainly not fatal.

Next, you might fall off a ladder while fixing the gutters on your bungalow.

Welcome to the garden.at about 35kph. If your landing place were a concrete patio, you would almost certainly suffer injury, a high probability of a broken bone or two, but again, you would almost certainly survive.

For up to about 35kph, the oops! ouch! and aaargh! Are progressively more painful, but the average body-basic can usually get up and walk away.perhaps with a limp and some interesting vocabulary.

However, that seems to be about the limit of the human body’s built-in crash capacity, and at higher speeds the damage doesn’t just get progressively more severe – it rapidly shifts from fall to.funeral.

Fall onto paving slabs from the gutter of a two-storey building, and flesh will meet cement at 50kph. Breakages move up from possible to almost definite, include a probability of internal ruptures, and you don’t need to be particularly unlucky to kill yourself.

These examples and impact figures are more than just interesting. They are the basis of safety regulations, worldwide. In public places, structures or equipment (parks and playgrounds, staircases, viewing platforms etc.), where a fall will result in an impact of less than 30kph, regulations are few and if it all goes wrong everyone says ‘bad luck’ to both the owner and the user of the stairs.

But where size and height involve a potential fall impact at higher speed than that, design (like safety rails) and conduct regulations (like accompanied children) are strict and mistakes are called ‘criminal negligence’.

Traffic regulation appears to be an exception to this scientifically based standard.

First recognise that a construction worker hitting the ground at 30kph after a fall, or a pedestrian being hit by the front end of a bus doing 30kph, are much the same thing as far as human muscle, bones and organs are concerned.

And yet, in virtually every field of activity bar motoring, elaborate measures are taken to completely remove the possibility of ‘falls’ greater than 30kph, and anyone who allows such a possibility is liable to prosecution.

Logic suggests that in a city street, where there is constant and close interaction between pedestrians and vehicles, the speed limit should arguably be 30kph.

But a 50kph limit might not be as irrational as it looks. And there are lots of other issues to consider. To restrict all traffic at all times to half (!!!) the current flow rate would adversely affect millions of vehicles all day and every day. And this crawling pace might tempt thousands of pedestrians to take less care and higher risks when crossing the street.

Further, in the event of a pedestrian stepping in front of a car doing 50kph, in almost all instances the driver will at least hit the brakes and swerve to some degree before impact.

So, if the two do collide, the speed at impact will be reduced, the blow may be glancing, and the front of a car, though robust, is not as solid as concrete (where all the shock of the collision will be transmitted to the human).

The front of the vehicle might absorb some of that shock by bending and some more will absorbed as the pedestrian is flung aside (not brought to an instant halt).

So, the fact that the actual speed limit in cities, almost everywhere, not just Nairobi, is 50kph – a potentially lethal velocity – is not as anomalous as it might seem.

If a pedestrian is struck by a bus doing 50kph, there is a possibility that the impact will be fatal, but because that is within the legal speed permitted, in legal terms the verdict is most likely to be ‘bad luck’.

If a pedestrian steps out into flowing traffic without looking, whether the vehicle that hits him is doing 30, 40, 50, or 60kph, the collision is the pedestrian’s fault.

However, if the vehicle is travelling within the speed limit, the pedestrian almost certainly lives. If the vehicle is travelling above the speed limit, the pedestrian very possibly dies.

So, the pedestrian may be to blame for the collision – but who is to blame for his death?

That’s a question that street and traffic planners, lawmakers, and courts presumably ponder – and motorists too, not just on technical or legal grounds, but as a moral issue.

It is a question that underscores a much underrated aspect of road safety: the moral attitude of people toward road laws and traffic offences.

Kenya and the multinational bank UBA, which is chaired by Nigerian businessman Tony Elumelu, committed to collaborate in funding infrastructure projects in the country. The agreement came soon after UBA disbursed $150 million (Sh28.8 billion) for Kenya’s Sh129 billion roads bond.

Mr Elumelu shared with the Business Daily his thoughts on how banks and capital markets can meet the challenge of financing Africa’s businesses and infrastructure projects.

You are a champion of African economies leveraging capital markets for funding. There are about 23 economies in the continent that do not have securities exchanges. What would be your message to them? Countries that do not have securities exchanges should try and develop them because it presents one important source of raising medium to long-term capital, to enable entrepreneurs and businesses actualise their aspirations. Getting the right business environment that will allow entrepreneurs to succeed is important because as they grow, they will want to go to a market where they can raise capital.

As an entrepreneur who has scaled the heights of business, what role has Africa’s capital markets played in your journey?

When I started the United Bank for Africa (UBA), the stock exchange in Nigeria encouraged us to come to the market and even gave us discounts for doing so. This is good and we need to see other exchanges do similar things.

I have been a beneficiary of this because most of the things we have done, have been executed through going to market to raise money.

How do we ensure that Africa’s domestic capital works for the continent?

Already Africa has about $4 trillion worth of domestic capital. The challenge is how to mobilise this capital to ensure that it works for the African people. No one but us will help our continent, so let us channel this capital to infrastructure development.

For example, right now, we are talking about Artificial Intelligence and Africa cannot catch up without investment in electricity.

Pension funds are some of the largest holders of capital in Africa, yet their preference is for the safety of government securities and not the real economy. How do we change this to ensure that this capital flows?

Nations that have developed, have leveraged on pension funds. Often times people blame commercial banks for not funding entrepreneurial businesses and infrastructure, but the nature of commercial banks is that their deposits are short-term and not long-term and so by nature, they are not wired to do long-term funding.

So, when I see pension funds investing in government securities, it is just lazy because they should be used to fund catalytic infrastructure projects. Yes, there are risks. However, one just needs to analyse and identify an insurance mitigation mechanism they can have in place and allow domestic capital to actually work for the African people.

In their defence, pension funds have stated that their high appetite for government securities is as a result of the conservative nature of members. Is this a valid argument?

Pension funds should not be assessed based on the interest income they make from government securities, they should be assessed based on the returns on significant infrastructure they have deployed capital towards.

No nation has ever developed without massive domestic capital mobilisation.

You will always need a blend of what is coming from outside and what has been sourced locally and when foreign capital comes, it often seeks to co-invest with local capital. Pension fund capital needs to be used in constructive and transformative areas in African economies.

You are the chairman of UBA. What do you see as the role of banks in domestic capital mobilisation given Africa’s massive funding needs?

Banks as intermediaries are important economic agents and have a very critical role to play. UBA is not just a bank, we are a development partner. We see immense opportunity for growth and impact through UBA Kenya. Kenya’s youth, innovation and entrepreneurial drive make it one of Africa’s most exciting markets.

What do you see as the key priorities for Africa’s capital markets right now?

We need to continue to strengthen the regulatory environment because that is what gives confidence to all players, because you want to create a market where indigenous and foreign players can come and operate.

We also need to make sure that we have securities exchanges that are liquid because it is one source of raising medium to long-term capital. We also need to deepen knowledge and expertise in the market but that comes with time. Transparency and the ability to repatriate profits is also very important.

How safe are workers’ savings in the Sh160 billion Nairobi-Nakuru-Mau Summit highway, where the National Social Security Fund (NSSF) has taken a 40 percent equity stake?

The mandatory pension fund is partnering with China Roads and Bridges Corporation (CRBC) on a 40:60 basis, to finance the massive road under a 30-year Public Private Partnership (PPP) deal.

The key questions are: What are the likely implications for the fund’s liquidity and ability to pay retirees promptly? And what returns can be expected compared to other asset classes?

The NSSF has entered into new territory. Historically, it has been a poor investor-buying quarries and idle land, losing billions in scandals such as Discount Securities, Sololo Outlets and collapsed banks where elites parked pensioners’ money. Could this project become another sinkhole for billions?

Going through the transaction documents, the structure appears more sophisticated. A great deal of disclosures, including risk-sharing arrangements expected returns, traffic forecasts and tolling models are disclosed.

A special purpose vehicle (SPV) will issue bonds to raise most of the project’s financing, limiting NSSF’s direct cash exposure. Mark you, the fund is currently now worth about Sh600 billion, buoyed by higher contribution rates under the NSSF Act of 2013. The fund currently collects about Sh6 billion a month.

At this scale, NSSF must now seek long-term, bankable investments. Trends in the rest of the World show that infrastructure offers potentially higher and more stable returns than traditional assets. Since the fund collects long-term savings, it makes sense to deploy them in long-term projects-roads, energy, and airports.

Kenya’s pension funds, collectively holding about Sh2 trillion, remain overly conservative: around 80 percent of their portfolios sit in government securities and listed equities, with limited exposure to real estate or private equity. Globally, however, pension funds are key players in infrastructure.

The UK Universities Pension Fund invested in Heathrow Airport’s expansion; New Zealand’s Unispur Fund financed Adelaide Airport and Australia’s Superannuation Fund has stakes in several airports. In Denmark, Copenhagen Airport’s expansion was partly funded by pension money.

Closer home, the Nairobi Expressway now generates about $50 million annually in toll revenue-demonstrating the potential of well-structured PPPs. NSSF’s participation in the Nairobi-Mau Summit project, therefore, marks a welcome evolution in how Kenya’s pension capital is deployed.

Globally, pension funds are integral to national economic strategies. Canada recently underscored this by appointing Marc-André Blanchard, a top executive from one of its biggest pension managers, as the Prime Minister’s chief of staff-a signal of how seriously prudent economies treat pension fund governance.

Traffic projections along the Nairobi-Nakuru-Mau Summit corridor highlight why the expansion is urgent. Traffic on the Naivasha-Gilgil section alone is projected to reach 23,000 vehicles per day by 2027.

Without expansion, congestion will cripple trade within the Northern Corridor-the vital artery linking the Port of Mombasa to Uganda, Rwanda, and South Sudan.

Yet, Kenya continues to lag in adopting innovative financing models for infrastructure. In contrast, Tanzania’s NSSF financed 60 percent of the $130 million Nyerere (Kigamboni) Bridge under a 30-year PPP concession. Uganda’s NSSF is a key investor in Umeme Ltd’s power distribution network. South Africa’s Government Employees Pension Fund, through the Public Investment Corporation, co-owns several toll roads, including the Pretoria-Maputo and Johannesburg-Durban highways, sharing toll revenues for decades.

Kenya’s pension sector missed out on the Nairobi Expressway-arguably the country’s most successful PPP. The new 175 km Nairobi-Nakuru-Mau Summit highway, at an estimated cost of Sh170 billion, offers a second chance. The Rironi-Nakuru-Mai Mahiu stretch is among the most congested in the Northern Corridor, carrying about 20,000 vehicles daily, growing at 4 percent annually. The expansion will reduce travel times, accidents, and freight costs-critical for industrial hubs like Naivasha, Nakuru, and Gilgil.

This project is coming to complement other key investments we are making on the Northern Corridor including the Standard Gauge Railway extension to Malaba. In sum, NSSF’s participation in the Nairobi-Mau Summit project could set a new benchmark for mobilising domestic savings for development.

NSSF’s partner in the deal, CRBC, has very strong credentials in as far as experience and capacity to execute is concerned, with some of the big projects completed including the SGR, the Nairobi Expressway and the Nairobi by- passes.

If managed prudently, this investment could redefine how Kenya’s pension savings are harnessed for growth-turning idle deposits into productive capital. Done right, it will demonstrate that pension funds can be both safe custodians of workers’ savings and engines of national development.

Sometimes life feels like building a sandcastle-beautiful, fragile, destined to be claimed by the tide. Njeri Jomo’s sandcastle has been her career in insurance, shaped layer by layer over decades, until one day she found herself at the top-CEO of Jubilee Health Insurance.

It’s the kind of success that reads well on paper, but that now demands introspection: What does success really mean? ‘For me,’ she says, ‘it is as much about reflection and intention as it is about achievement.’

Lately, reflection has defined much of her life. Her children are slowly stepping into their own worlds, and with their growing independence comes her own question: Who am I beyond them? The professional milestones are clear; the personal ones, slightly elusive.

A natural singer and lifelong lover of music, she frames her life in musical terms-some parts in harmony, others improvisational, all guided by rhythm and faith. Music, she says, has always been a silent, steady compass. And now, as she stands between stillness and the hum of life, she trusts that the same rhythm will carry her home. Because even as the tide rises, we realise that the art was never in keeping the castle standing, but in how it was built.

Is there a moment from your childhood that, looking back, makes sense of what’s happening in your life right now?

That’s a good question. Honestly, no. I think we tend to connect the dots backwards. Right now, it might look like I was clever, but maybe it’s just because I’m a firstborn-that could be where the leadership instincts came from. Did I ever want to be a CEO? Honestly, no. I guess I’m just predisposed to solving things. I find myself in situations, and I want to fix them. That’s probably how I got here.

Looking back to high school at Limuru Girls, I remember when they announced my name-I couldn’t understand why they picked me. But in hindsight, there was a certain posture I took then that makes sense now. I told my friends, ‘If you’re my friend, you won’t put me in a difficult position. You’ll just do the right thing. If you don’t want to end up on the punishment list, just make life easy for me-do the right thing.’

That was probably the first sign. I sometimes wonder how I even came up with that. It had to do with integrity. You can’t create a special cluster for your friends; you just treat everyone the same. If you’re my friend, you’ll understand that and still let me do my job.

How has the journey to this office been?

Interesting. Leadership is interesting because it has many sides. For me, it’s always been about the day-to-day-just doing my part.

There’s a problem to solve, something that needs to be done, and I’ll do it. I’m naturally curious, so when something new comes up, I’ll say, ‘Let me try that, let me do this.’

But leadership tests every side of you. It often appears to be about managing others, yet what’s usually missed is how much self-work it demands.

I’ve had to do a lot of intentional reflection, constantly asking myself: Would I choose me as a leader? Because when you think about it, there are so many brilliant people around-so why you?

It’s easy to get comfortable, to sit back in the chair and believe you deserve to be here. But leadership, if done right, forces you to hold yourself accountable. You’re responsible for other people. So again-why you? Why should they care? Why should they choose to be led by you? That’s why I find leadership so compelling: it demands that you pay close attention to yourself.

I tell people the first commandment of leadership is know thyself-the good, the bad, and the ugly. Because if you don’t, you’ll end up bleeding on those you lead. And as someone who believes in God, I’m very conscious of being held accountable-for how I manage people and whether I am faithful with what was entrusted to me.

How did you end up here?

My route wasn’t typical. I didn’t go to university; I went into insurance early, even though I had no idea what insurance even was. What began as something temporary turned out fascinating-the idea of transferring risk hooked me.

Through a referral, I approached an organisation that told me they had no jobs. I said, ‘That’s fine, I’ll work for free.’ It sounds clever now, but I just thought, If you let me in, I’ll prove myself.

After a month, they started paying me Sh300 a day. After two years, I moved on to a small start-up. It stayed afloat for nine months-poor governance. Jobless, I turned to selling insurance policies.

At UAP, I was a salesperson. Nobody dreams of selling insurance, but it is one of the best things I’ve ever done. Sales forces you to face yourself-you meet people, get rejected, you keep trying. I realised I was good at it; people believed me. That’s where I began learning about financial planning.

One client later offered me a job in his firm. I joined and moved into investments, asset management, and money markets-completely new ground.

I stayed 17 years, in seven roles, learning something different each time. Then Jubilee came calling. Health insurance, a whole new culture, something I hadn’t done in nearly 20 years. But I said yes. Three years later, here we are. A simple story, really.

Did you ever pursue higher learning?

My parents weren’t well-off, and being the firstborn meant there came a point when they had to ask me, ‘Can you take care of the others?’ I was fortunate, though, because someone paid for me to do an insurance certification. For much of my career, I worked without the papers. It teaches you that nothing is handed to you-you do the work.

After a couple of false starts, I finally completed my degree in 2015 and immediately registered for a Master’s to develop a more strategic way of thinking. Looking back, I wonder if having the papers from the start would have been different.

By then, I had already built a track record of achievement. That’s why I tell young people: don’t let a lack of papers stop you. Build a strong record of delivery-papers will come, but your ability to deliver is what counts.

I eventually did my master’s, graduated in 2017, and today I have all the formal qualifications. Academic qualifications sharpen what’s already there.

What sort of life questions are you asking yourself now?

This came up over lunch with a colleague. He mentioned a woman who’s aged 75, and I realised I had never really thought about myself at that age.

We often move through life like it’s a sprint, and suddenly we realise we’ve run most of it-but there could be another 30 years ahead. That sparked tough conversations with myself: when I’m 75, what will my life look like? Will I like what I see? How do I make sure I’ve built enough fuel for that journey? It’s humbling and energising at the same time.

Talking to people older than me, I’ve realised that age doesn’t always feel the way it looks-many say, ‘I don’t feel as old as I am.’ That perspective makes me reflect even more on what it means to grow older while staying fully alive.

How was your childhood?

I grew up in Tigoni, Limuru. My parents were teachers, so life was always busy. We were six children, though one passed away early. I grew around music-my dad played, we sang, and I even taught my sisters to harmonise when we were very young.

I was a hands-on child, always curious about how things worked-from simple tools to my dad’s TV and radio. Sometimes I got in trouble taking them apart, just to understand them.

Childhood was lively and eventful. We played a lot, but also helped my mom with chores-washing clothes, cleaning, all of it. There was a visible lack in certain things, though it only became obvious in high school when I noticed what others had.

Home was home: full of singing at family events and in church. That’s where my early love of music-and involvement in life around me-took root. Overall, it was a good childhood.

What’s the one thing that has surprised you lately?

I’ve been reflecting on how my tendencies might connect to innate abilities, especially my musical background. Recently, someone said to me, ‘Njeri, you like order. If you’re in a room and the band is playing badly, what would you do?’ I said I’d leave.

They told me, ‘That’s your musical ability.’ Similarly, in a noisy meeting, I tend to step away. It was fascinating-I’d never realised that the way I process my environment and information is tied to harmony, rooted in my musical upbringing.

Corporate life hasn’t offered much opportunity to sing, though I’ve become more active in my church worship team at Nairobi Chapel Ngong Road, and I sing at home.

More than performing, I’ve noticed that music shapes how I think: my ideas flow naturally, almost like a rhythm guiding speech. I don’t sing as much as I probably should, but I plan to this December with Christmas carols.

Are you born again?

Yes, I am.

What is that?

It means that, by choice, I have chosen to believe that Jesus Christ is the Lord of my life and that He died for my sins.

Does that change anything?

It provides the foundation for how I make decisions-where I base my judgments and what I call truth. For me, truth comes from the Bible. So when I ask myself whether something is right or wrong, that serves as the basis for my values and decisions.

Is there a point where your faith and religious beliefs intersect with work?

For me, faith provides the foundation for how I live and make decisions. I believe I was created by God, which means I’m not here by accident-everything I do is an assignment. With that comes accountability: I owe it to God to do it well. It gives purpose to my actions and demands that I be a good steward of whatever is entrusted to me.

I am not the ultimate authority; I cannot act as I wish or treat people however I want. That perspective shapes how I act, perceive my work, and approach each day. What I’m doing now is an assignment; when it ends, another will follow. For me, work, business, and life are all part of the same story, and that sense of purpose guides everything I do.

What do you think is your purpose? Why are you here? Not in this room, but here.

[Chuckles] At this point, my purpose is tied to the voice I have and the spaces I occupy. I need to use that voice responsibly to drive agendas and decisions that create real impact. In meetings where choices are made, I advocate for those who aren’t in the room-not as a CSR exercise, but because my presence allows it. Initiatives like dedicated rooms for mothers or support for employees with young children-benefits I may never personally use-exist because someone else acted with foresight. Being in these spaces is a privilege.

When I weigh in on strategy, business direction, or employee experience, I aim to ensure my presence and voice translate into meaningful outcomes. Beyond that, I’m passionate about developing the next generation of leaders. We’re not here by luck-someone paved the way.

Mentorship allows me to share lessons you won’t learn in school, make accessible the insights executives often carry behind closed doors, and amplify the long-term impact of our work. For me, it’s all about transformation and impact. If I have the opportunity to speak, influence, or be heard, I will not waste it. I’m intentional about moving the needle-that’s how I strive to lead every day.

What makes you insecure?

Success can become a trap, depending on the meaning I attach to it. You mentioned trophies-if I achieve one goal, I immediately wonder, Is this the next ceiling? What comes after this? In my younger years, that definition of success was a beautiful trap: it pushed me constantly but made it hard to accept genuine compliments, to simply hear, well done.

That’s still a growth area for me. Ultimately, whatever meaning I give to success can also create insecurity. Success, for me, is as much about reflection and intention as it is about achievement.

Talking of harmony and music, what tune would you assign to this season of your life?

Oh, goodness. It’s still the songs that always play in my car. I’m in a very stable season of life-finally emerging from what we all call the turbulent 30s.

In your 40s, there’s less second-guessing; it’s either you know or you don’t, and you begin prioritising what truly matters. I’m told that in your 50s, clarity only intensifies. By the time I’m 75, who knows what that will look like?

Right now, my priorities are clear: family, impact, and faith-central to who I am. I’m also paying more attention to health. Working in a health business, I see the trends, and I want to reach 75 without constant hospital visits.

The soundtrack of this season is Maverick City, with lyrics like, ‘Christ is my firm foundation, the rock on which I stand when everything around me is shaking.’

Beyond that, I’m a millennial, and the soundtrack of my life will always include the songs that shaped our generation: Destiny’s Child, Ms Independent, Neo-songs that spoke to independence and empowerment. That’s the rhythm of this season.

What belief, conviction have you always held on firmly that you have now loosened your grip on?

I used to believe that you stopped being young at 30, but that’s completely changed for me. I’m now convinced we’re genuinely as young as we feel.

There’s a pace to life, and the milestones we once stressed over-having everything sorted by 40, building a career by a certain age-turn out to be far less rigid than we thought.

If you think about it, whatever age you are now, the things that stressed you 10 or 15 years ago often hold no weight today. Life eventually works out.

Right now, my view might feel constrained because I’m looking at a small slice of time, but over 10 or 15 years, things unfold, and it all eventually works out.

If you were not doing this, what would you be doing right now?

I’d probably have a farm-somewhere to exhale and just be. But I think it’s situational and seasonal. Right now, a farm feels right. If I hadn’t gone into insurance, I think I would have been an advocate, a lawyer.

Law is fascinating-so subjective, full of nuance. It’s like looking at an abstract painting: one person sees one thing, another sees something else. Since I’m in the medical field now, advocacy feels like the closest fit for that curiosity and challenge.

Is there something you’re conflicted about, something you’re searching for answers currently?

Right now, the stage of life I’m in is defined by my children leaving the nest. I’ve been grappling with how to define myself beyond being their mother.

When they were small, I would introduce them everywhere, proudly saying, These are my children. Now, I’m navigating what comes after that particular definition. Will I be the mother who checks in constantly, or will I step back and redefine this next season of my life?

My career has taken its course, my marriage is in a good place, and my children are approaching independence. I’m figuring out who I am in this new phase. Each stage of motherhood brings its own reflection on what it means to parent and evolve. I really enjoyed motherhood.

Jesus carried a cross for us. What personal cross are you currently carrying?

The continuous pursuit of what I consider perfection has been my cross. If I’m brutally honest, it’s something I’ve wrestled with constantly.

Some balls have to drop, and I still don’t always know how to let that happen. Firstborn syndrome, perhaps. But learning to accept that-that not everything has to be perfect-is part of the journey.

How do you unwind, and how do you reward yourself?

In recent years, I’ve started learning how to exercise because I hear it’s good for you. I spend a lot of time with family, and I also meet my girlfriends for a good laugh about life and everything in it.

I’m exercising more now, and I’m also learning how to go to a spa. That doesn’t come naturally for me. [Laughs] Idle time feels wrong, like I should be doing something more useful. Three hours at a spa? Why not split that time into something productive?

For me, self-care isn’t spa days or exercise routines-it’s stillness and silence.If I can sit quietly, process the thoughts racing through my head, and bring them down to calm, even for a moment, that’s a big deal.

I try to do this intentionally at least once a week: itemising what’s running through my mind, deciding what to address, and clearing the mental backlog. In those moments, nothing is demanding my attention, and I feel. fine.

When did you feel that you were most unkind to yourself?

In my 30s, I was figuring out children, marriage, and all the rest. It was a habit of worrying, giving everything of yourself to everyone else. I would travel and come back with suitcases full of gifts for others and nothing for me, thinking that was how you cared.

Looking back, I’m not sure why I did that-maybe it felt like the definition of being a mother. But that doesn’t happen anymore. Now, the first person I care for is myself. I no longer feel guilty about swiping my card for me. It’s not about the amount-it’s about honoring my own needs.

Is there a question that you thought before this meeting, and thought, oh, I hope he doesn’t ask me that?

Transmara Sugar Company has won a reprieve in its pursuit of Sh1.8 billion tax relief from the Kenya Revenue Authority (KRA) regarding investments made at its Kilgoris factory since 2011.

The High Court has overturned a Tax Appeals Tribunal decision that had dismissed the case last year, ruling that the tribunal improperly declined jurisdiction over the matter.

The court ordered fresh reconsideration of the dispute, marking a significant development in the protracted legal battle.

At the centre of contention is Transmara’s claim for tax relief tied to large-scale capital investments in its sugar processing operations.

The company maintains that under provisions of the Income Tax Act, it qualified for a 150 percent investment allowance applicable to capital expenditures exceeding Sh200 million outside major cities like Nairobi, Mombasa and Kisumu.

Between 2011 and 2018, Transmara Sugar undertook major expansion projects at its Kilgoris facility but faced persistent financial losses attributed to nationwide sugarcane shortages.

These losses became the subject of dispute when they exceeded the 10-year carry-forward limit stipulated under Section 15 of the Income Tax Act (now repealed).

The law permitted extensions beyond this period only through special approval by the National Treasury Cabinet Secretary, upon KRA’s recommendation.

In July 2019, Transmara formally sought such an extension, but KRA’s September 2022 response only partially approved the request.

The tax authority permitted Sh774.8 million of the claimed Sh1.8 billion losses to be carried forward without initially providing justification for the reduced amount. Dissatisfied with this determination, Transmara challenged KRA’s calculations before the Tax Appeals Tribunal.

In November 2023, the tribunal dismissed the case, asserting that the original decision emanated from the National Treasury rather than KRA and therefore fell outside its jurisdiction.

This determination sparked Transmara’s successful High Court appeal, where the trial judge scrutinised the chain of decision-making authority.

Court documents showed KRA’s deputy commissioner issued the contested ruling on official letterhead, explicitly labeling it as the “Commissioner’s ruling” and affixing the agency official stamp.

The High Court found these formal attributes legally significant, establishing clear attribution to KRA rather than the Treasury.

“Authorship and legal accountability must rest with the authority that formally communicates a decision,” the judgment emphasised, warning against institutional attempts to obscure responsibility through administrative technicalities.

The court’s thorough examination found no evidence supporting claims that former Treasury CS Ukur Yatani independently made the determination.

Judicial scrutiny extended to procedural safeguards under the Tax Procedures Act, which the court affirmed must protect taxpayers’ right to challenge substantive rulings affecting their liabilities.

The High Court cautioned against allowing government entities to evade accountability by artificially attributing decisions to higher authorities without proper documentation.

The ruling highlighted how such practices could undermine constitutional guarantees of fair administrative action and transparency in public finance matters. The matter now returns to the tribunal for fresh consideration.

When Kenyan band, Jabali Afrika, was invited to record a song on an album by a Peruvian artiste, they would not have imagined that this was going to be their ticket to a second Grammy nomination.

The announcement of nominees for the 68th Grammy Awards last week caught the brothers, Joseck and Justo Asikoye, by surprise.

The album Herstory by US-based Peruvian singer-songwriter Flor Bromley, which includes her collaboration with Jabali Afrika, has been nominated for the Grammy Award for Best Children’s Music Album.

This is the second Grammy nomination for the Kenyan group after receiving their first in 2022 in the same category. ‘This time we are not rookies,’ declares singer-songwriter and producer Joseck.

‘The Grammys is the ultimate stage for the who is who in the industry, it is where you rub shoulders with the movers and shakers in this business and of course, our aim is to win this time.’

Interestingly, this collaboration with Flo Bromley is itself a product of an encounter at the Grammys three years ago. ‘We met Lucy Kalantari, an accomplished musician and producer in the family music space, at the 2022 ceremony in Las Vegas,’ recalls Joseck. ‘So, when she called us and said she needed our East African vibe on Flor’s record we were ready to go.’

Joseck and his brother bring their powerful vocals and throbbing percussions to the track I Run with My Heart (Fatuma’s Song). The song was inspired by Fatuma Roba, the Ethiopian athlete who was the first African woman to win the Olympic marathon competition at the Atlanta games in 1996.

‘You know in every vibe, we put our harmonies and percussions front and centre like we have always done through the years,’ says Justo.

Their trademark melodies are simple yet irresistible, arranged against the background of traditional drums and an array of African percussions.

Bromley psyches people to keep running ‘like a cheater’ while Jabali Afrika chant: ‘When you run you free your mind from the worries and the sorrows. Kimbia. Kimbia. Kimbia.’

‘Working with Jabali Afrika was an absolute joy,’ says Flor, whose name means ‘flower’ in Spanish. ‘Their sound brings so much life, colour, and authenticity to Herstory.’

The professionally trained musical theatre actor based in New York blends her Latin heritage with global rhythms and hails the group for capturing the spirit of Fatuma’s determination, courage and patriotism.

The song resonates with the album’s theme of honouring influential women from different parts of the world with each track celebrating empowerment, diversity, and leadership by connecting global cultures.

‘Music has no borders. Collaborating with Flor on this song allowed us to share part of our Kenyan identity and rhythm with children everywhere,’ says Joseck. ‘It is powerful to be part of an album that tells stories of women who are changing the world. That is how you inspire children through music.’

The album’s messages range from the rap of the title track which champions brave women who have defied historical gender biases to the rock-inspired call to action on climate justice, Anger into Action (Greta’s Song).

Among the other artistes featured on the album are 2022 Best Children’s Grammy winners, Alphabet Rockers, Peruvian-American percussionist Tony Succar, composer-pianist Charu Suri, and Looney Tunes Preschool Music.

‘This album is deeply personal, I created it for my daughter and for all the children out there who deserve to see strong, inspiring female role models leading the way,’ says Bromley.

The album’s producer, Kalantari, is a two-time winner of the Grammy Award for Best Children’s Music Album and has built her career on creating music to positively impact and shape young minds.

‘The family music network is a big platform with many diverse artistes,’ explains Joseck. His own group’s first major exposure in the US was showcasing their musical style on the iconic children’s educational TV programme Mr. Rodgers Neighborhood in 1996. ‘That appearance brought us to this space (family music), and it has now come full circle because today we are veterans of making this music.’

The group received a Grammy nomination in the Best Children’s Music Album category in 2022 for the album All One Tribe, a project that featured a diverse group of artists celebrating African American culture with family-oriented songs. Jabali Afrika’s contribution to the album was a soothing singalong called Mtoto Mzuri.

‘Our Grammy nomination is not a coincidence. We have released family music records every year since our first nomination, and the last of them was Lala Land collaborating with Pambo Afrika Chorus and (Iranian musician) Medhi Rabajian,’ says Joseck.

As members of the Recording Academy, the Asikoye brothers will participate in the final round voting for the Grammy Awards from December 12, 2025 to January 5, 2026, ahead of the annual ceremony known as the ‘biggest night in music’ on February 1, 2026.

‘We work toward more diversity in the award for Best African Music Performance,’ asserts Joseck, a reference to the domination by Nigerian Afrobeats artistee in that category. ‘Look at how Bien [of Sauti Sol] has been going about his business and tell me why he can’t be up there at the Grammys!’

I was in the village recently to say goodbye to my grandmother. I went to visit her in the morgue, where she lay in a fridge with strangers. She wore a small smile. Maybe even a triumphant one.

She seemed smaller, because death not only shrinks you but diminishes you. I wonder if Einstein was right about energy being transformed into another form, and if she could, in a way, hear my thoughts telling her that I won’t bury her because she will live in me with my mother, and that she journeys on to whatever it is that was promised to her.

Later that evening, still feeling the weird emptiness that a grandmother leaves you with [she was 95, so it isn’t grief exactly, is it?], I went to Pikadili Hotel in Kendu Bay with Lady and her brother.

I went to show them that we also have great hotels, even though we only got a bank last year. Saving face, etc. Pikadili is our pride and joy. It’s our crown jewel. We have a swimming pool and clean rooms.

That night, a band was playing out at the restaurant area, which is in the form of a courtyard of sorts. I was getting a nasty flu, so I ordered a hot toddy but with whisky.

The band called Lomboto Band was playing a song my dad used to listen to when I was a baby. It was by Ochieng Kabaselle, a song called Milicento. [I asked the waiter for the track].

Our songs are mostly about love; us declaring our love, us moaning about love gone wrong, us remembering past love. This song is an ode to one Adhiambo Milicent, from Asembo. Kabasello is imploring her not to change her great behaviour.

At some point, someone at the next table asked loudly, ‘leo umewacha engineer wapi (where is the engineer today?)?’ and that got Lady’s brother roaring. He said, ‘do you guys not have names, you are addressed as daktari or engineer?’ It felt good to sit there and drink to my grandmother’s memory. To be amongst kith.