Category: Business Daily

Ronald Mutie loves to tell a good story. Like how he shows up for his kids, who are too small to know the ways the world beyond the gate could hurt them. Or how he got into this career. They wanted him to be a doctor, a lawyer, an engineer. But he had not read the script. He trusted the gods, who wrote him this character, as the Big Kahuna, the CEO of Karen Blixen Group, which owns, among other things, the Karen Blixen Museum.

He hasn’t done too shabbily for himself. It is here in Karen, which is eponymous to the Karen Blixen Coffee Garden, where the who’s who of the who’s frequent. Mutie remains unfazed, or if he is, he betrays not a flicker of it. This year, he says, he is not throwing pity parties. ‘I’ve been a good boy this year.’

Over a pork-bone broth of your dreams that your cardiologist should probably not know of, Mutie tells another story of Karen Blixen, and her coffee garden, and Karen estate, which is stuck between the ghosts of what it once was, and haunted by the mystery of what it will become, as the sibilant, sylvan silence surrounds us, making you feel a little, erm, out of Africa.

What has been the most exciting part of the year so far?

Tourism and hospitality are exciting all through because every day you learn something new. Our clients are almost 80 percent international. And there are so many challenges affecting such a kind of clientele. If there is recession, insecurity, or a fluctuating economy, they can’t travel.

They have no money. It’s a very sensitive part of business that depends a lot on the outside environment, but we keep bouncing back because people like to travel.

We were talking earlier about you taking a holiday before the festivities when it gets busy here. What did you do over the three weeks that you were away?

I combined both holiday and some work. I went to the US to New York, San Diego, and also ended up in Vancouver, Canada. I visited several places just to rewind and refresh and reset myself for the coming season.

Previously, I’ve travelled to beach areas in Watamu and Diani, and Mt Kenya and Samburu with my family. I avoid the Maasai Mara because we have property there, so we go any time [chuckles]. And of course, being a hotelier I want to see what other hotels are doing too.

You have pre-empted my question. How different is travelling as a hotelier for you?

You always want to pick something from that hotel, but you are on holiday [chuckles]. I want to see how they are setting their food. How is the service quality? How is it plated? How are the toilets? How clean? What extra facilities do they have? Are they sustainable? What kind of detergents, products are they using? I get to those details, and I make notes. I never stop working.

What’s the first thing you do when you land in a new country or city?

Compared to our own country, how are the operations of that airport? The customs, the service from the immigration people, and the facilities, as I know our weaknesses and strengths. I start from the airport because I’m a hospitality person, then the movement from the airport to the hotel.

What has been the hardest part of this year?

The number of tourists this year has decreased in our own facilities by close to 15 percent and 20 percent. And when you convert that to revenue, it’s several thousand dollars. That means you may not be able to maintain the number of staff or deliver to the quality you want because of costs.

There is no disposable income, and here we deal with high-net-worth and medium-net-worth individuals (the CEOs and GMs) who don’t seem to have that disposable income

That’s on the business side. And on Ronald’s side, personally?

For Ronald, I lead an organisation with about 300 staff, and as a leader, you want everyone to be happy, and that has been a challenge, to maintain their employment and remunerate them well to sustain their families. Of course, there is your normal malaria or something. Or your shoulder isn’t working right anymore e[chuckles]

Do you prefer December in Kenya or December away from the country?

December in Kenya because there are so many things happening in the industry. And we’re also planning for next year.

What is a song that best summarises this year for you?

Eh! Haha! I am not a very good musician, and I don’t have a lot of hobbies.

Which meal or drink then summarises this year for you?

Red-dry wine.

What’s the most Kenyan Christmas thing you look forward to every year?

Sitting together and finding that time to enjoy the local delicacy like nyama choma and a good drink. You bring your friends together, and that of course cleans your system, and you are ready for the next year.

Are you the one doing the roasting?

Yes, I am really good at that. I come from Ukambani and I have quite the number of goats. I even do the slaughtering. [chuckles]

Presuming you have children, have you passed down the gene?

I have tried, but those guys are different haha! They don’t want to see the slaughtering, but they will eat when it’s on the table [chuckles].

Do you have a family ritual over the holidays?

For us, either we do it in the village, or in our houses in Nairobi. So whoever is available, either family member, extended family, I can call them, or my brother, or cousin, will invite us and tell us they are holding a bash for us. And everything is on them [chuckles].

What habit have you kicked this year?

I don’t think I’ve kicked any because I’ve been a very good boy this year haha! I’ve been a very good boy, very disciplined, no bad habits [chuckles].

Conversely, what has sustained you throughout the year?

Focus, and discipline. I have kids who are at the age where they need a lot of guidance from me, and in May this year, I decided to spend quality time with my daughter and sons and ensure I understand them fully.

I wanted them to pick quite a bit from me, and that has kept me going, despite also spending some time in the church.

What is the one fatherhood tip you can pass on?

Despite our busy schedules, it’s important to take care of your family, especially the young ones who like your presence. People should not hide in their busy schedule; let the family be part of the busy schedule.

What would you want your children to remember about you when they are your age?

Discipline. Hard working. And they need to respect their seniors.

What have you had to unlearn to become a better father?

If you want to be a good father, it’s about democracy. It’s a discussion; it’s very participatory, and there is no dictatorial parenthood anymore.

How are you stepping into 2026?

More energised. I want to be very positive with everything. Family, to work, to business.

Did you make any resolutions that you’ve kept this year?

No, no, no, no. I stopped making resolutions. You get frustrated. For example, I’m actually doing my PhD. And I said I will finish it this year [chuckles]. But I haven’t even finished my project, so I got frustrated. And that was goal number one. The only thing I do now is I just want to pray to have good health.

What success metric no longer defines you?

I would say, when it comes to success, I don’t want to be limited by what people are doing or my weaknesses. They used to say, ‘Mwanaume ni effort.’ But now they say, ‘Mwanaume ni success.’ Man is success. I focus on my strengths and the positive side.

What are you apologising to yourself for this year?

No, no. I’ll never do that. I’ll take it the way it comes. Because you lose self-esteem, and you start seeing yourself as a weakling. Get up, dust yourself, and get moving.

Even as a young man, refuse to be defined by your failures, pick that section which looks like it will take you to Canaan, and get going.

Ronald Mutie loves to tell a good story. Like how he shows up for his kids, who are too small to know the ways the world beyond the gate could hurt them. Or how he got into this career. They wanted him to be a doctor, a lawyer, an engineer. But he had not read the script. He trusted the gods, who wrote him this character, as the Big Kahuna, the CEO of Karen Blixen Group, which owns, among other things, the Karen Blixen Museum.

He hasn’t done too shabbily for himself. It is here in Karen, which is eponymous to the Karen Blixen Coffee Garden, where the who’s who of the who’s frequent. Mutie remains unfazed, or if he is, he betrays not a flicker of it. This year, he says, he is not throwing pity parties. ‘I’ve been a good boy this year.’

Over a pork-bone broth of your dreams that your cardiologist should probably not know of, Mutie tells another story of Karen Blixen, and her coffee garden, and Karen estate, which is stuck between the ghosts of what it once was, and haunted by the mystery of what it will become, as the sibilant, sylvan silence surrounds us, making you feel a little, erm, out of Africa.

What has been the most exciting part of the year so far?

Tourism and hospitality are exciting all through because every day you learn something new. Our clients are almost 80 percent international. And there are so many challenges affecting such a kind of clientele. If there is recession, insecurity, or a fluctuating economy, they can’t travel.

They have no money. It’s a very sensitive part of business that depends a lot on the outside environment, but we keep bouncing back because people like to travel.

We were talking earlier about you taking a holiday before the festivities when it gets busy here. What did you do over the three weeks that you were away?

I combined both holiday and some work. I went to the US to New York, San Diego, and also ended up in Vancouver, Canada. I visited several places just to rewind and refresh and reset myself for the coming season.

Previously, I’ve travelled to beach areas in Watamu and Diani, and Mt Kenya and Samburu with my family. I avoid the Maasai Mara because we have property there, so we go any time [chuckles]. And of course, being a hotelier I want to see what other hotels are doing too.

You have pre-empted my question. How different is travelling as a hotelier for you?

You always want to pick something from that hotel, but you are on holiday [chuckles]. I want to see how they are setting their food. How is the service quality? How is it plated? How are the toilets? How clean? What extra facilities do they have? Are they sustainable? What kind of detergents, products are they using? I get to those details, and I make notes. I never stop working.

What’s the first thing you do when you land in a new country or city?

Compared to our own country, how are the operations of that airport? The customs, the service from the immigration people, and the facilities, as I know our weaknesses and strengths. I start from the airport because I’m a hospitality person, then the movement from the airport to the hotel.

What has been the hardest part of this year?

The number of tourists this year has decreased in our own facilities by close to 15 percent and 20 percent. And when you convert that to revenue, it’s several thousand dollars. That means you may not be able to maintain the number of staff or deliver to the quality you want because of costs.

There is no disposable income, and here we deal with high-net-worth and medium-net-worth individuals (the CEOs and GMs) who don’t seem to have that disposable income

That’s on the business side. And on Ronald’s side, personally?

For Ronald, I lead an organisation with about 300 staff, and as a leader, you want everyone to be happy, and that has been a challenge, to maintain their employment and remunerate them well to sustain their families. Of course, there is your normal malaria or something. Or your shoulder isn’t working right anymore e[chuckles]

Do you prefer December in Kenya or December away from the country?

December in Kenya because there are so many things happening in the industry. And we’re also planning for next year.

What is a song that best summarises this year for you?

Eh! Haha! I am not a very good musician, and I don’t have a lot of hobbies.

Which meal or drink then summarises this year for you?

Red-dry wine.

What’s the most Kenyan Christmas thing you look forward to every year?

Sitting together and finding that time to enjoy the local delicacy like nyama choma and a good drink. You bring your friends together, and that of course cleans your system, and you are ready for the next year.

Are you the one doing the roasting?

Yes, I am really good at that. I come from Ukambani and I have quite the number of goats. I even do the slaughtering. [chuckles]

Presuming you have children, have you passed down the gene?

I have tried, but those guys are different haha! They don’t want to see the slaughtering, but they will eat when it’s on the table [chuckles].

Do you have a family ritual over the holidays?

For us, either we do it in the village, or in our houses in Nairobi. So whoever is available, either family member, extended family, I can call them, or my brother, or cousin, will invite us and tell us they are holding a bash for us. And everything is on them [chuckles].

What habit have you kicked this year?

I don’t think I’ve kicked any because I’ve been a very good boy this year haha! I’ve been a very good boy, very disciplined, no bad habits [chuckles].

Conversely, what has sustained you throughout the year?

Focus, and discipline. I have kids who are at the age where they need a lot of guidance from me, and in May this year, I decided to spend quality time with my daughter and sons and ensure I understand them fully.

I wanted them to pick quite a bit from me, and that has kept me going, despite also spending some time in the church.

What is the one fatherhood tip you can pass on?

Despite our busy schedules, it’s important to take care of your family, especially the young ones who like your presence. People should not hide in their busy schedule; let the family be part of the busy schedule.

What would you want your children to remember about you when they are your age?

Discipline. Hard working. And they need to respect their seniors.

What have you had to unlearn to become a better father?

If you want to be a good father, it’s about democracy. It’s a discussion; it’s very participatory, and there is no dictatorial parenthood anymore.

How are you stepping into 2026?

More energised. I want to be very positive with everything. Family, to work, to business.

Did you make any resolutions that you’ve kept this year?

No, no, no, no. I stopped making resolutions. You get frustrated. For example, I’m actually doing my PhD. And I said I will finish it this year [chuckles]. But I haven’t even finished my project, so I got frustrated. And that was goal number one. The only thing I do now is I just want to pray to have good health.

What success metric no longer defines you?

I would say, when it comes to success, I don’t want to be limited by what people are doing or my weaknesses. They used to say, ‘Mwanaume ni effort.’ But now they say, ‘Mwanaume ni success.’ Man is success. I focus on my strengths and the positive side.

What are you apologising to yourself for this year?

No, no. I’ll never do that. I’ll take it the way it comes. Because you lose self-esteem, and you start seeing yourself as a weakling. Get up, dust yourself, and get moving.

Even as a young man, refuse to be defined by your failures, pick that section which looks like it will take you to Canaan, and get going.

It’s 6:30am and I’m standing on a stretch of road where, on an ordinary morning, more than 400,000 cars rip through fourteen lanes of traffic.

Today, instead of engines roaring, a DJ deck blares music so loud the bass seems to vibrate through the asphalt.

On a normal day, I wouldn’t survive a second standing here but today is no normal day. The superhighway is shut down. Since 2017, once every year, the Sheikh Zayed Road – Dubai’s main artery – turns pedestrian. For several hours, the highway becomes a vast, car-free playground.

I’m in Dubai for the annual 30×30 Fitness Challenge, a month-long citywide invitation to move, sweat, and breathe.

For this year’s edition, I was among the 307,000 people, residents and tourists who flooded the Dubai streets to experience the surreal thrill of running last month. Earlier in the month, the same road was transformed into a giant cycling track for the Dubai Ride, attracting over 40,000 cyclists of all ages and skill levels. But I digress.

At exactly 6:45 a.m., the gun fires, the run begins. I’ve signed up for the 10KM-a test of patience, of heart, of lungs endurance exam. I glide through the futuristic skyline, past Dubai’s most iconic landmarks, the Museum of the Future, the towering Burj Khalifa, and the Dubai Water Canal.

52 minutes later, I crossed the finish line. Twenty minutes later, still catching my breath and still gulping tiny 100ml water bottles like a dehydrated marathoner, I spot a Kenyan jersey cutting through the crowd. Maria Kivaa. Instantly, she has my attention.

“How was the run?” I manage between breaths.

“Wow, that was fun.” she answers, realising her Kenyan accent mirrors mine.

Then her story spills out.

‘I’ve been running for a while now. I started back home, and when I moved here to Dubai a year and a half ago, I stayed consistent. This time of year – winter- there’s a race almost every weekend, but the Dubai Run? It’s different. Special. There’s a big Kenyan running community here in Dubai.’

Fitness routine

She gestures at the controlled chaos around us.

“It’s special in the sense that it closes the city down. The municipality shuts down the main road- Sheikh Zayed Road. No cars, businesses paused, and everyone from residents”Ten or five kilometres you choose, no registration fee, bibs provided, water everywhere, bands playing along the route. It’s a cultural thing here. People come just for the experience of it, the joy of it. You saw how the crowd turned out.’

I nod, remembering the bands stationed at different stretches of the highway, each section pulsing with different rhythms.

Every few metres the music shifted, afrobeat thumping, Arabic drums rolling, pop anthems lifting the spirits of the tired legs and making the run under the beautiful early breeze feel lighter, and an enjoyable experience.

Even the elderly showed up for joy. A man who must have been pushing 70 blazed past me like a gust of wind. I never caught up, not even close.

Only spotted him later at the finish, seated on the green lawn, smiling like he had done this a thousand times. He was faster, stronger, and more agile than me. I’ll admit that defeat gracefully.

For Maria, though, this wasn’t merely a fun run. This was fuel, another layer in her already disciplined fitness routine.

The mother of two, aged 10 and 8, radiates the energy of someone in her mid-thirties, though she’s 42. Dubai made her intentional. She wasn’t always like this.

“This wasn’t always me. A year and half ago, before Dubai, I was someone else. I ate everything. Didn’t move much and was overweight. My body kept score.”

The scar she carries isn’t visible, but it runs deep, a dark road in the past that still shapes every step she takes today.

’12 years ago, I lost my first baby to pre-eclampsia. That experience changed everything. After losing my first child, I realised life is precious and I have to take care of my body. That’s why I run now. I run for my body, for my mind, for my soul. I run because I would never want to have such an experience again. That loss was one of the darkest chapters of my life. I can’t undo it. But I can make sure it never happens again. So, shedding excess weight reduces the chances of pre-eclampsia recurring,” she explains.

Pre-eclampsia is a pregnancy complication marked by high blood pressure and signs of organ stress, often affecting the kidneys or liver, that usually develops after the 20th week.

It can escalate quickly if untreated, posing risks to both mother and baby.

Although she had laced up back in Kenya, she remained inconsistent bursts between life’s other demands. But Dubai changed everything. Her younger brother Vincent, entrenched in the city’s fitness industry for 15 years, became her architect of transformation.

“Vincent is the reason for my transformation. When I arrived here, he didn’t just help me settle, he rebuilt me. Connected me with running groups. Drafted my diet plans. Designed my workout programs. He saw what I needed to become before I could see it myself.”

Her progress is written not just in her stride and physique but in sharp numbers. She has shed 20kgs since her arrival, weighs 70 kgs now, and 10kgs more to go to achieve what she considers her ideal.

But Dubai demanded adaptation. When it’s considered summer in Dubai, the city becomes a beast of its own. Between June and August, the desert city simmers at 45°C, sometimes higher, hence running outside becomes dangerous rather than noble.

“I shift to strength training during summer, the gyms here are all mostly air-conditioned. Any runs happen before dawn, before the sun turns the air to liquid fire. You learn quickly here, weight and heat don’t negotiate. I had to evolve or collapse.”

The city’s architectural design itself conspires toward movement. It’s a city built not just upward, but outward, everything is grand in scale, for instance the iconic Dubai Mall, large enough to host a 10KM race along its marble corridors entirely indoors.

Here, people walk a lot.

‘In Dubai, most people use the metro. Do you know it can take nearly an hour to walk from the Mall metro station to the mall itself? And that’s just one station. There’s a lot of walking here. This city makes you walk whether you planned to or not. Every errand becomes cardio,” she says.

Metro walkways stretch like arteries through the city air-conditioned tunnels feeding thousands into commercial districts.

The Dubai Mall link alone moves over 13,000 pedestrians at a time, a slow but steady stream of footsteps, purpose, and sweat.

Still, movement is only half of Maria’s discipline. Food is the other. She eats with purpose, not pleasure as was the case many years ago.

The Gulf’s cuisine doesn’t sing to her palate, nothing tastes quite like home, flavors always slightly off-key but function trumps nostalgia.

She admits despite the lack of the full-bodied flavour she grew up with, she eats for function, not indulgence.

‘I eat three balanced meals a day. Portion control is key. More protein and vegetables. Complex carbs to keep glucose stable. I love oat pancakes. They keep you full, reduce cravings. Breakfast is overnight oats, plain yogurt, and blueberries.”

Maria’s story lingers with me long after we part ways, her resilience, her discipline, her battle back to health in a foreign land.

It mirrors what this entire morning feels like, people reclaiming their bodies, their breath, their power.

And she is not alone. Among the 307,000 participants that filled Sheikh Zayed Road that morning, about 300 Kenyans ran beside me like elite runner Philip Kiptoo 34, who zoomed past me at some super-sonic speed.

These Kenyans, some visiting and some residing in Dubai were scattered through the crowd like familiar faces in a foreign sea. Their jerseys flashed by their accents made a point, vibrant strokes of home.

I felt it then, that sense of belonging in motion. A tribe defined not just by nationality but by purpose.

Dubai, perhaps more than any other city, champions movement.

What began as a vision from the Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum in 2017 – to make fitness an accessible daily culture – has grown into a global phenomenon with over two million people from across the world having participated. The Dubai 30×30 Fitness

Challenge, now an annual tradition, has rewired the rhythms of the city.

For 30 days every year, every resident is encouraged to commit at least 30 minutes of exercise daily. Roads turn into running paths, parks pulse with Zumba, open gyms and HIIT, waterfronts fill with cyclists, gyms open their doors, and communities rally all for free.

Free gyms, cardio and zumba studios are set up in every part of the city including the Dubai beaches and even malls.

As I walked away from the finish line that morning covering an extra three kilometers to my hotel, calves aching, lungs stretched, heart pumping faster, I felt more than just the high of completion.

I felt changed. Not because I ran 10 kilometres, but because I ran them in a place where health is not a luxury or an afterthought, but a shared civic heartbeat.

Perhaps that explains why almost everyone I encountered looked remarkably fit.

You’d have to narrow your eyes, really search, to spot even one rounded belly, something so ordinary on the streets of Nairobi that you hardly notice it anymore.

Investment bank Dyer and Blair and stock brokerage Francis Drummond have been picked to guide Kenya Pipeline Company’s initial public offering (IPO) in which the government seeks to raise Sh100 billion by selling a 65 percent stake.

Sources have confirmed the selection of the two market intermediaries to this publication ahead of the expected floating of the State corporation’s shares on the Nairobi Securities Exchange (NSE) in the first quarter of 2026.

Dyer and Blair which is affiliated to businessman Jimnah Mbaru has been selected as the lead stockbroker while Francis Drummond has been appointed as the co-sponsoring broker for the IPO. Dyer and Blair has the primary objective of organising the initial public offering by working with other investment banks to establish an advisory consortium.

Its scope of work also includes assessing KPC’s financials and current market conditions to arrive at the initial value and number of shares to be sold.

Earlier this month, this publication confirmed the selection of Faida Investment Bank as the lead transaction advisor for the IPO process.

Dyer and Blair was the second most profitable brokerage firm in six months ending in June 2025, booking a net profit of Sh123.6 million representing an 870 percent growth rate from Sh12.7 million a year prior.

Francis Drummond meanwhile bounced back to profitability to post Sh13.4 million in net earnings over the same period from a loss of Sh1.3 million previously.

The government has a set deadline of March 31, 2026, for the listing of Kenya Pipeline Company (KPC) shares on the NSE.

The Privatisation Commission which is tasked with overseeing the sale process sought the services of transaction advisors to lay the framework for the transaction.

These include the lead and co-sponsoring stockbroker, legal advisers, an advertising agent, a public relations firm, a receiving bank and a registrar.

The lead transaction advisor will be responsible for coordinating the entire IPO process including overseeing all other advisors.

‘The National Assembly has approved the privatisation of Kenya Pipeline Company Limited through an initial public offer of shares on the Nairobi Securities Exchange (NSE). The expected closing date for the transaction is March 31, 2026,’ the Privatisation Commission said in a notice in October.

Members of Parliament approved the transaction in the same month with the deal expected to see the government offload a 65 percent majority stake to private investors. The Privatisation Commission is expected to ensure that all liabilities and risks affecting the valuation of KPC are comprehensively assessed, transparently disclosed and factored into the transaction valuation before proceeding with the IPO.

The advisors including law firms involved in the process are expected to book hundreds of millions of shillings in fees, lifting their bottom-line in the process.

The firms usually attract fees that are mostly a percentage of the entire transaction.

Investment bankers and lawyers who are guiding the sale of the government’s 15 percent stake in Safaricom are expected to pocket nearly Sh2.3 billion in fees, mirroring the sizable earnings available for the facilitation of market deals.

South Africa domiciled Vodacom which is purchasing the stake told analysts on a conference call that the Safaricom share purchase deal would yield transaction costs of between 200 million rands (Sh1.51 billion) and 300 million rands (Sh2.27 billion) where the bulk covers brokerage fees and stamp duty changes.

Previously in 2023, British multinational Diageo disclosed that it spent £4 million (Sh688 million) on transaction fees when buying an additional 14.97 percent stake in EABL.

Kenya has been ranked as the world’s fifth-largest market by cryptocurrency transaction volumes as stablecoin use increases, highlighting the growth of digital asset adoption.

Stable coins are digital currency currencies that are convertible into traditional currencies such as the US dollar on a 1:1 basis.

Kenya follows Ukraine, the United States, Nigeria and Vietnam in transactional crypto use, according to the 2025 World Crypto Rankings report by global cryptocurrency exchange Bybit. This is attributed to widespread use of the digital assets in remittances, merchant payments, cross-border settlements and day-to-day transfers.

Stablecoins like Tether (USDT) and USD Coin (USDC) are designed to have a relatively stable price by being pegged to a currency.

The report notes that global stablecoin transaction volumes hit an all-time high in July 2025.

‘Adoption was led by USD-pegged stablecoins such as USDT and USDC, valued as a hedge against inflation and a gateway to dollar exposure, especially in emerging markets facing currency volatility,’ Bybit says. Kenya is ahead of the United Kingdom, Pakistan, the Netherlands, India and Indonesia, according to the Dubai-based crypto exchange, which is the world’s second-largest by trading volume.

With high peer-to-peer (P2P) crypto transaction volumes, Kenya often ranks globally and in Africa, driven by remittances and a strong mobile money base.

Data from the New York-based analytics firm Chainalysis, for instance, shows that the country made Sh426.4 billion ($3.3 billion) stablecoin transactions in the year to June 2024.

Chainalysis placed Kenya as the fourth-largest recipient of stablecoins on the continent during this period behind Nigeria, South Africa and Ghana. In 2021, the firm ranked Kenya the world’s top country in P2P exchange trade.

The Bybit report notes that the Kenyan market has demonstrated readiness to adopt cryptocurrencies, especially in retail transactions.

‘This activity points to a population that is already comfortable moving value on-chain, a key prerequisite for scaling crypto payroll,’ Bybit’s report says.

On-chain transactions are recorded and verified directly on a blockchain’s main network, providing greater security.

Still, despite Kenya’s strong transactional performance, the report ranks the country at 51st in ‘institutional readiness’ due to an unclear regulatory environment.

This is, however, expected to change with the recently enacted Virtual Asset Service Providers (VASP) Act.

The law requires all crypto service providers, including platforms facilitating stablecoin salary payments, to be licensed and meet anti-money laundering, consumer protection and operational security standards.

‘It will give employers and payroll platforms a legal pathway to send on-chain payments through regulated intermediaries,’ says the Bybit report.

‘This removes one of the biggest barriers for companies: uncertainty over whether using crypto for salaries could trigger compliance or enforcement issues.’

Stablecoins are viewed as a quicker and cheaper payment method, especially cross-border ones, which traditionally take days to settle and are subject to interchange and other fees.

Local traders are increasingly using the crypto to pay for imports, while Kenyans in the diaspora use it to wire cash to family. Similarly, multinationals are using stablecoins to repatriate billions of shillings, bypassing local commercial banks.

Kenya’s payments ecosystem is seen as uniquely positioned to support regulated crypto payroll at scale.

With one of the continent’s highest mobile-money penetration rates, the market already supports near-instant conversion of on-chain USDC to Kenyan shillings through platforms such as TransFi, even in the absence of a native M-Pesa stablecoins.

‘This makes it possible for a software developer in Nairobi to be paid by a US-based employer in stablecoins and then cash out locally within minutes, all without touching traditional correspondent banking rails,’ the report notes.

If the VASP law is implemented effectively, Bybit says these capabilities could position the country as a leading African hub for regulated on-chain salary payments.

‘International companies hiring Kenyan talent could offer salaries in stablecoins with automatic conversion to shillings, ensuring workers can access funds quickly while employers remain compliant,’ says the report.

The Central Bank of Kenya (CBK) has opened the sale of a Sh60 billion Treasury bond, continuing its recent trend of issuing longer dated papers to lengthen the government’s domestic debt maturity profile.

In the issuance which runs until January 7, 2026, the CBK has reopened a 25-year bond that was initially brought to the market in September 2022, and a 20-year bond first sold in March 2019.

Less than 300,000 Kenyans registered to buy the State’s affordable houses by June 2025, new disclosures show, debunking statements by bureaucrats that close to a million Kenyans had enrolled to purchase units under the scheme.

The disclosures by the State Department for Housing and Urban Development show that by the end of June, 292,326 Kenyans had registered on Boma Yangu, the platform created for the public to register and save towards owning houses.

Art has always been used as a tool to approach uncomfortable topics in society directly, triggering dialogue for change. This year, theatre spoke boldly during the 16 Days of Activism against Gender-Based Violence (GBV).

‘What can start small, on screens – a message, a comment, or a post – can quickly spiral into a torrent of threats and violence in real life. Private photos are stolen without consent. Lies spread in a matter of seconds. Locations are tracked.

As the year draws to a close, BD Life reflects on some of the milestones in the music industry in 2025.

Cultural resurgence

In an exclusive interview with the BDLife a year ago, singer-songwriter, musician, Bien-Aimé Baraza (of Sauti Sol fame) revealed that he was seeking a new edge to his music by exploring the cultural heritage of his roots in Western Kenya.

True to his word, 2025 marked a significant shift in his overall sound and image with the hit single All My Enemies Are Suffering. Propelled by the energetic rhythm of isikuti drums, multi-layered harmonies and a contemporary Afro groove, it set the template for a powerful fusion of global and cultural influences.

Some of the biggest acts of the year, including Okello Max, Coster Ojwang, Watendawili and Charisma, have molded their aesthetics with a strong cultural foundation while still producing music that resonates with a mainstream audience.

Reinvention of classics

Just like the soundtrack to the anti-taxation protests in Kenya last year was Kasongo, a 1977 song by Super Mazembe, 2025 also saw classic songs going viral thanks to topical events.

For instance, the most searched song lyrics, according to Google Kenya’s Year in Search, were for the Jamaican folk song Jamaica Farewell, recorded in 1956 by Harry Belafonte. Interest in the song was sparked by the death of former Prime Minister Raila Odinga, who had often mentioned it as his favourite.

The interest in oldies was not peculiar to Kenyans. The No 1 song on video sharing platform Tik Tok in 2025 was Pretty Little Baby, a 1962 song by American singer Connie Francis.

Tik Tok’s Year in Music Recap released this week reveals that the song’s popularity was due to its use as the soundtrack for videos on family, pets, relationship and flowers leading to more than 68 billion views. Its popularity was not just confined to one platform; it has 133 million streams on Spotify.

Francis who died in July 2025 at age 87 expressed surprise at the success of the ballad she recorded 63 years ago: ‘To tell you the truth, I didn’t even remember the song,’ she told the People Magazine in May.

Streaming

Music streaming platform Spotify has now made Wrapped a much-anticipated fixture of the end of the year with fans sharing personalised revelations about their music preferences, from genres to artistes, of the past year.

The data is mind boggling. For instance, Spotify listeners streamed over 163 billion hours of music in 2025 with social features like Collaborative Playlists and Friends Mix accounting for 782 million hours of shared music during the year.

The older generation of Kenyans, those who grew up on physical formats like the vinyl and CDs, are gradually discovering the world of streaming; the over 55s registered the highest growth in listening this year at 74 percent, followed by the 45-54-year-olds whose streaming grew by 56 percent.

Top songs

The East African collaboration between Tanzanian star Marioo and Kenyan artist Bien, Nairobi, tops Apple Music’s 2025 Year-End Charts in Kenya, followed by Tanzanian Joel Lwaga’s worship anthem Olodumare and the South African amapiano/Afrobeats hit Isaka (6 am) by Ciza, Jazzworx, and Thukuthela.

The popularity of the latter, along with other isiZulu hits like Ngishutheni by Goon Flavour, confirms isiZulu as one of the top three most-streamed musical languages in Kenya, just behind English and Swahili, according to Spotify data.

Documentaries and biographies

If you missed any of the outstanding music films and publications in 2025, there is no better time to catch up on them than this holidays season.

The most talked about music documentary of 2025 is the recently released Sean Combs: The Reckoning which investigates the murky events surrounding the life and career of US producer and music mogul, also known variously as Puff Daddy and P. Diddy, who is currently serving a 50-month jail term.

Earlier in the year, Avicii: I’m Tim offered a very personal portrait of the much-loved Swedish Electronic Dance Music DJ/producer who died in 2018.

One Shot with Ed Sheeran is a pure musical experience as British singer-songwriter walks the streets of New York City with his guitar spontaneously entertaining fans with a repertoire of his songs as a film crew shoots the unfolding events in one take.

If you don’t want to fight for the TV remote control with members of your household then get your hands on Truly by Lionel Richie, the 2025 memoir of one of the biggest pop stars of all time.

Read: 10 nuggets from Lionel Richie’s memoir ‘Truly’

Lionel shares his story with wit, self-deprecating humour and juicy nuggets of his interactions with everyone from Michael Jackson to Quincy Jones.

The year is coming to an end, but the market never rests. As the season wraps up, we turn our attention to the one question every serious investor is asking: Where exactly will the money be flowing in 2026?

Macroeconomics analyst Stellar Swakei joins us to share a comprehensive, early outlook. In this episode, she will:

Explain the key macro-factors and risks that are about to redefine the investment landscape.

Share an early outlook on the most promising asset class for the new year.

Outline the non-negotiable strategies you must implement now to secure your wealth and maximise returns.

Make Money, a podcast series, hosted by Kepha Muiruri, from Business Daily Africa unravels ways to be financially savvy. Get practical tips and advice on how to increase your income, build wealth, and achieve financial freedom in Kenya. Whether you’re just starting out or a seasoned investor, we’ve got something for everyone.

Listen here:

Season 5

Inside the Sh600bn money markets fund growth – Episode 1

Why more Kenyans are taking their money offshore – Episode 2

The low-interest playbook: Where to invest your money now – Episode 3

The bonds ladder: How to get a monthly pay cheque – Episode 4

The hidden cost of investing: How to stop fees from eating your returns – Episode 5

The financial supermarket: Can your bank do it all? – Episode 6

NSE rally: Is it too late to invest? – Episode 7

Stocks 101: Your guide to opening a CDS account and making your first trade – Episode 8

Can AI replace your financial advisor? – Episode 9

Bubble or Boom? Decoding the AI-fuelled market frenzy – Episode 10

Black November: How to find investment bargains – Episode 11

The 2025 investment scorecard: Where did Kenyan investors win? – Episode 12

Season 4

Episode 1: The allure of infrastructure bonds

Episode 2: Maximising the dividend earning season

Episode 3: Minting generational wealth

Episode 4: Is the MMF party over?

Episode 5: Is your money safe in Saccos?

Episode 6: Insurance: Investment or Illusion?

Episode 7: Why Kenyans are going into business

Episode 8: Willy Kimani’s leap: Business insights from corporate to entrepreneurship

Season 3

Episode 1: Government bonds: Risk-free or low risk?

Episode 2: MMFs: Who really needs a fund manager?

Episode 3: How to protect your investments as interest rates fall

Episode 4: Is the stock market still a way make to money?

Episode 5: Does it still make sense to buy dollars?

Episode 6: How time directly impacts your investments

Episode 7: Hacking home ownership

Episode 8: Money matters: To bank or not to bank?

Episode 9: Trading 101: Separating wheat from chaff

Episode 10: What music can teach us about money

Season 2

Episode 1: Redefining your money goals

Episode 2: Making money work for you

Episode 3: Where to make money in 2024

Episode 4: Make your side hustles worthwhile

Episode 5: Loan and Behold: The art and science of borrowing

Episode 6: Career driven – Triumph at your job

Episode 7: Better Together – The Power of Group Investing

Episode 8: Make your networks shape your net worth

Episode 9: Buy now, Pay later – The A to Z of consumer credit

Episode 10: What would you do if you had Sh500,000?

Season 1

Episode 1: Financial fitness – walk before you can run

Episode 2: Myths about investing

Episode 3: Baby steps.Little is more

Episode 4: A cheque from government

Episode 5: NSE – Taking stock of the market

Episode 6: Going offshore – cast your bread in many waters

Episode 7: Kenya’s black gold

Episode 8: Investor’s edge – Saccos

Episode 9: How wife’s wake-up call led Ken to make more money