Category: Business Daily

A sombre mood gripped the nation following the death of former Prime Minister Raila Odinga, a towering figure in Kenyan politics and a symbol of resilience for millions.

From the streets of Kisumu to the corridors of power in Nairobi, Kenyans mourned the man many called Baba, even as attention shifted to preparations for a State funeral and the long goodbye to one of the nation’s most influential leaders. He played a pivotal role in shaping Kenya’s political landscape and mentoring many of its past and present leaders, including President William Ruto.

Throughout the day, tributes poured in from across the political divide, hailing Odinga as a liberator, Pan-Africanist, and tireless advocate for democracy. From the corridors of power to the streets, Kenyans reflected on his life and legacy.

President Ruto, in a televised address on Wednesday, announced Odinga’s death and declared seven days of national mourning and a State funeral. He described him as ‘a colossus of Kenya’s modern politics, an indomitable warrior in our struggle for freedom and prosperity.’

‘In his passing, we have lost a patriot of uncommon courage – a Pan-Africanist who offered a compelling model of principled politics,’ President Ruto said.

In Nairobi, Mama Ida Odinga, the widow of the former Prime Minister, broke her silence outside their Karen home.

‘I know you’re all upset. We didn’t expect it to happen this way, but it has already happened,’ she told supporters before retreating into the house, flanked by ODM party leaders.

Hundreds of supporters, many weeping and waving twigs to ward off bad omens, gathered at the home to pay their respects.

Across Odinga’s other political strongholds in Siaya, and Homa Bay, similar scenes unfolded – processions, mourning songs, and chants of resistance blending into a shared outpouring of grief. For many, Wednesday was not just a day of mourning but the beginning of a reckoning – with grief, history, and a future suddenly uncertain without Baba.

In a statement, the Orange Democratic Movement called Odinga ‘a true giant of the nation and a darling in the hearts of Kenyans.’ ODM Secretary-General Edwin Sifuna told reporters at Jomo Kenyatta International Airport that it was ‘too early’ to discuss who might succeed him as party leader.

Flight to India

President Ruto detailed Deputy President Kithure Kindiki to co-chair the funeral committee with Odinga’s elder brother, Siaya Senator Oburu Oginga.

A delegation headed by Prime Cabinet Secretary Musalia Mudavadi left for India on Wednesday evening to supervise repatriation of Odinga’s body.

According to senior family members and State House officials directly involved in his funeral arrangements, he left a clear directive; that he wished to be interred within seventy-two hours of his death.

The Competition tribunal has dismissed two more appeals by steel companies against the decision by the Competition Authority of Kenya (CAK) to penalise them for fixing prices, bringing the total to seven.

On a September 11 sitting, the Competition Tribunal dismissed appeals lodged separately by Jumbo Steel Mills Limited and Corrugated Sheets through which the companies had sought to quash CAK’s decision.

Raila Amolo Odinga, former Prime Minister of Kenya and the party leader of Orange Democratic Movement (ODM), is dead at the age of 80.

Sources at his office on Wednesday confirmed the passing of veteran politician in India where he was recovering from treatment for undisclosed condition.

President William Ruto and Odinga’s family, led by his elder brother, Oburu Oginga, are expected for address the nation on the death. The 80-year-old leader breathed his last on Wednesday morning in the southern Indian city of Kochi, with Indian Press reporting that he suffered a cardiac arrest during a morning walk.

He was later rushed to Devamatha Hospital in Koothattukulam where he was pronounced dead, with the Indian press quoting police and hospital sources.

Odinga served as Kenya’s prime minister between 2008 and 2013. He contested for the presidency five times – 1997, 2007, 2013, 2017 and 2022.

Odinga flew to India on October 3 amid major speculations about his health status.

At the time his secretariat said, ‘Raila travelled out of the country on Friday evening – one of the many trips he has made this year, and definitely not the last. He is not indisposed.’

Dr Oginga later confirmed that Odinga had been unwell for a while, but was now recuperating in India.

‘Raila, just like any other human being, was indisposed a few days ago but at the moment he is doing fine. He went for a check-up in India and he is now recuperating,’ said Dr Oginga, who is also the Odinga family spokesperson.

Odinga’s wife, Ida, had earlier claimed that he had taken a sabbatical leave from politics.

‘As someone who lives with him, I know his health better than anyone. How could someone who doesn’t reside with him claim to know more about his condition than I do? What I’ve shared with you is the truth,’ she said.

Odinga has kept away from public engagements, including major political events by his ODM party, fueling the ill-health reports.

He was conspicuously missing in the party’s political jamborees held in Kisii, Wajir and Narok counties in the build-up to its 20th anniversary national celebrations.

He, however, made a public appearance after chairing the party’s consultative meeting on the planned celebration at the Serena Hotel in Nairobi on Friday October 3. A party official had at the time told the Nation that Odinga had travelled for a routine medical check-up.

The source explained that Odinga has always travelled for check-ups following his 2010 head surgery.

He underwent the procedure in June 2010 in order to relieve pressure that had built up outside his brain.

In 1997, he contested the presidency and came third but retained his position as Lang’ata MP.

After the election, he led a merger between his party, NDP, and President Daniel arap Moi’s Kanu party.

He served in Moi’s Cabinet as Energy Minister from June 2001 to 2002. In the subsequent Kanu elections, he was elected the party’s secretary-general as part of the power sharing deal of the merger.

In 2002, Odinga fell out with Moi after he endorsed Uhuru Kenyatta as his successor. Odinga and other Kanu members, including Kalonzo Musyoka, the late George Saitoti and the late Joseph Kamotho, opposed this step arguing that the then 38-year-old Mr Kenyatta was politically inexperienced and lacked the leadership qualities required to govern.

They joined the Liberal Democratic Party (LDP), which later teamed up with Mwai Kibaki’s National Alliance Party of Kenya, a coalition of several other parties, to form the National Rainbow Coalition (Narc) that eventually defeated Mr Kenyatta in the 2002 poll.

He later fell out with Kibaki and contested the presidential election in 2007 that was marred by Kenya’s deadliest post-poll violence. He was named Prime Minister in the subsequent grand coalition that was formed after the peace talks mediated by late former United Nations Secretary-General Kofi Annan.

He also lost the 2013 presidential election to Mr Kenyatta. After the Supreme Court nullified the poll results, he boycotted the repeat election held on October 2017.

He ran for president again in 2022 but lost to William Ruto. Dr Ruto garnered 50.49 percent of the vote against Raila Odinga’s 48.85 percent.

Guaranty Trust Bank is locked in a court dispute with one of its customers over the release of pound 9.5 million (Sh1.4 billion) allegedly wired to his account by a foreign company, even as the presiding judge gagged his lawyer, Nelson Havi, from publicly discussing the case.

Justice Fredah Mugambi’s ruling paints a picture of a high-stakes financial dispute mired in allegations of suspicious transactions, potential money laundering, and a fiery battle over lawyers’ rights to comment on ongoing cases.

British telecoms giant Vodafone Group wants the hearing of a case filed by a former Safaricom distributor stopped, arguing that it was not properly joined to the case.

Goodweek Inter-Services Limited accused Safaricom of switching it off from the dealer trading portal without notice after the firm failed to sign a new framework agreement.

Kenya’s earnings from tea exports fell in the financial year ended June 2025, marking the first drop in seven years, largely weighed down by reduced orders from the country’s biggest buyer, Pakistan, and a firmer shilling that eroded the value of export receipts.

Analysis of official data shows total tea export earnings dropped by 13.41 percent to Sh176.76 billion in the financial year 2024-25, down from a record Sh204.14 billion the previous year.

A small group of eight State entities will spend more than half of the Sh4.6 billion set aside by the government for the purchase of vehicles for 189 public agencies, revealing a continued heavy spending on cars amid pressure to cut purchases for leasing.

The eight State departments and agencies plan to splash Sh2.5 billion on vehicles and accessories during the year ending June 2026, new disclosures on procurement plans for the year have disclosed.

Travel and tourism are a vital part of Kenya’s heartbeat. They keep businesses running, create jobs, and open doors for global connections.

According to the Tourism Research Institute’s 2024 report, Kenya received about 2.39 million international visitors, earning roughly Sh452 billion.

The World Travel and Tourism Council estimates that the sector now contributes close to seven percent of Kenya’s gross domestic product and supports nearly two million jobs.

Still, behind those impressive numbers lies a growing concern. The way people book travel has changed.

Almost everything happens online now, and while that brings convenience, it also opens the door to rogue operators and online fraud. Many travellers have lost money to fake agents or suspicious online intermediaries who disappear once payment is made.

Each such case chips away at the trust that keeps the industry alive.

For this reason, strong regulation should not be seen as a burden but as a safeguard. A clear framework ensures that only licensed, stable, and professionally run agencies operate. It protects consumers while giving legitimate businesses the space to grow.

As Kenya Association of Travel Agents (KATA) has observed, many travellers fall victim to unregistered intermediaries every year, and rebuilding that lost confidence requires firm and transparent oversight.

Outbound travel is also rising fast. The Tourism Research Institute recorded about 1.42 million outbound travellers in 2024, a sign that more Kenyans are venturing abroad for work, study, and leisure. With more bookings being handled through digital platforms, protecting consumer data and ensuring accountability in cross-border transactions have become urgent priorities.

KATA collaborates with the Tourism ministry and the Tourism Regulatory Authority to improve compliance and raise professional standards. Regulation should evolve alongside technology, not against it.

Proper oversight encourages innovation, rewards professionalism, and ensures travellers can book trips with confidence.

A well-regulated industry also strengthens Kenya’s reputation globally.

Airlines, investors, and international partners prefer working in markets that demonstrate transparency and integrity. When rules are fair and consistently applied, trust grows, and so does business.

Strong regulation is not about restricting opportunity. It’s about protecting it. When the system works, everyone wins. The traveller, the business, and the economy.

The writer is a Membership and Communications Officer at Kenya Association of Travel Agents (KATA)

After the ceremony, the body will be escorted to his Karen residence for an overnight vigil, where close family and associates will gather for private prayers.

On Saturday morning, the body will be flown from Nairobi to Kisumu for a public viewing at Moi Stadium from 9am to 3pm.

From there, a motorcade will escort the body to Bondo, Siaya County, where the late statesman will spend his final night at his rural home.

‘The final burial ceremony will take place on Sunday, October 19, in Bondo, in a ceremony that will combine State protocol and ACK traditions,’ Prof Kindiki affirmed.

‘The burial will be conducted according to the traditions of the ACK Church, which the late Prime Minister faithfully belonged to.’DP Kindiki and Senator Oburu Oginga, Odinga’s elder brother, are co-chairing the funeral committee.

The body will arrive from India on Thursday morning at 8.30 am aboard a Kenya Airways aircraft, escorted by a delegation led by Prime Cabinet Secretary Musalia Mudavadi.

President William Ruto and the Odinga family will receive the remains at JKIA before the procession to Lee Funeral Home.

‘We have decided to move with speed in accordance with the family’s wishes and the late Prime Minister’s desire,’ Prof Kindiki said after a committee meeting in Karen.

Public farewell

Odinga’s body will lie in state at Parliament Buildings from 12pm to 6pm Thursday for public viewing.

Public grieving spaces will be set up nationwide, with live broadcasts of key moments.

‘We want every Kenyan who ever walked, dreamed or marched with the Prime Minister to feel part of this farewell,’ DP Kindiki said.

State funeral service

The Anglican Church of Kenya will lead the service at Nyayo Stadium on Friday.

The event will feature full military and State honours and is expected to draw regional and global dignitaries.

‘This will be a State event befitting the stature of the Right Honourable Raila Odinga,’ Prof Kindiki said.

After the Friday service, Odinga’s body will return to Lee Funeral Home overnight before being transported to Bondo for interment on Sunday.

Kenya has taken a bold leap into the digital finance frontier with the passage of the Virtual Asset Service Providers (Vasp) Bill, 2025 into law.

For a country where millions already trade cryptocurrency informally, this legislation is long overdue. But as the ink dries, the real question emerges: does this new act merely regulate the present, or does it boldly anticipate the future?

The law introduces a multi-agency framework involving the Central Bank of Kenya (CBK), Capital Markets Authority (CMA), and Communications Authority (CA). These institutions will now license crypto exchanges, custodial wallet providers, and token issuers. They will enforce anti-money laundering rules, monitor cybersecurity standards, and protect consumers from fraud and asset loss.

Token launches, referred to as Initial Virtual Asset Offerings (IVAOs), will be treated like securities, requiring full disclosures and regulatory approvals. This clarity is welcome. For years, crypto entrepreneurs operated in a fog of regulatory uncertainty, while consumers faced scams and volatility without recourse.

The bill’s provisions on IVAOs align Kenya with global best practices and could help the country exit the Financial Action Task Force (FATF) greylist. The reduction of digital asset tax from three percent to 1.5 percent is also a smart move to encourage compliance and growth.

Yet for all its strengths, the law has blind spots that deserve attention.

First, it leans heavily toward compliance, potentially stifling innovation. There’s no mention of regulatory sandboxes, safe zones where startups can test new ideas, or tiered licensing for small-scale innovators. In a space where agility is key, this could deter the very talent Kenya hopes to attract.

Second, it is silent on decentralised finance (DeFi), a fast-growing realm where users trade, lend, and borrow without intermediaries. Nor does it define how to regulate or tax non-fungible tokens (NFTs), which are unique digital assets used in art, music, gaming, real estate, and education.

Globally, NFTs are used to verify land ownership, certify academic credentials, and reward loyal customers. Kenya’s law doesn’t yet clarify whether NFTs are collectibles, securities, or intellectual property, and that matters.

Third, the law remains domestically siloed. Crypto is borderless, but the law doesn’t link to African Continental Free Trade Area (AfCFTA) protocols or global frameworks like the EU’s MiCA. Without cross-border alignment, Kenyan crypto firms may struggle to scale regionally or attract foreign investment.

Fourth, it misses a chance to connect with Kenya’s broader digital transformation agenda. There’s no integration with the Maisha Namba digital ID system, nor with the Central Bank’s own exploration of a Central Bank Digital Currency (CBDC). These links are crucial for building a seamless digital economy.

So, what’s the global picture?

According to the IMF and World Economic Forum, crypto has already reshaped parts of the global economy. El Salvador made Bitcoin legal tender in 2021, boosting tourism and attracting over $250 million in crypto-related foreign direct investment.

Nigeria, Africa’s largest crypto market, saw over $3 billion in crypto transactions in 2022, helping bypass costly remittance channels. The UAE and Singapore have used crypto-friendly policies to attract billions in fintech investment, positioning themselves as global hubs.

These examples show that crypto can drive financial inclusion, foreign investment, and digital innovation,but only with smart, forward-looking regulation.

Kenya’s VASP law is a strong foundation. But to truly lead, we must go further. Amend the law to include NFTs and DeFi. Create a sandbox for innovators. Align with global standards. And educate the public to build trust and understanding.

Crypto is not just a trend, it’s a new layer of the economy. Kenya must not just regulate it. We must shape it.