Category: Business Daily

Julia Nechesa Shisia sits under a tree, drinking sparkling water and reflecting on how great this year has been. Until it wasn’t. She reflects on her 20-year career in financial services, which has led her to her current role as Executive Director at Absa Bank’s Bancassurance division.

A key milestone was attending the executive programme at Harvard Business School. She talks about her love for medicinal plants. For long walks in the forest. For swimming. Things she has always enjoyed, things she has enjoyed this year which, as mentioned, was going so great she rated it a 9/10 until her husband died suddenly overseas at the beginning of November.

Her days are mostly filled with grief, feeling her way in the darkness that sometimes sets over her days. She’s now a widow, but it still doesn’t feel like it. “You never really think that you will be the person ticking ‘widow’ on any form that requires you to identify your status.” Burying her husband is the single most important event that will dominate her life forever. The silver lining, if you could call it that, is that it has sharpened the need to treat people with kindness and compassion-a philosophy now extending from her boardroom to her personal life. “You never know what people are dealing with,” she says. “Nobody here can look at me and think, ‘that lady sipping sparkling water over there buried her husband two weeks ago.'”

Was business good this year?

When you’re doing a billion point five in profitability, and you know that for insurance, that’s more than good.

A billion! You’re a powerhouse, aren’t you?

Oh, yeah, of course. [Laughs] That I am. I go in to win. I don’t go in to mess around, Biko. I go in for the kill. But winning doesn’t mean you never fail. I’ve had low moments and key highlights. In the low moments, what matters is that I don’t stay there-because I believe in winning. So I always ask: how can I do this differently and still win? If I can’t do it alone, who can help me? Is it the skill? The approach? What needs to change?

What I believe is this: everybody can win. You just have to put all the pieces together. Life is not a straight line. It goes up, then down, then up again. But if your goal is to get there, you will always get there.

How did you get here?

It’s been a 20-year journey. I started in insurance straight out of university as a sales executive at ICEA. It looked glamorous-titles, business cards, grooming allowances-but the work was tough. That’s where I learned the business from the ground up.

My first real exposure came during a university break when a neighbour convinced me to try selling insurance. I earned my first commission, and that’s when it clicked that insurance could be a career path. From ICEA, I moved through CIC, NIC-largely through people recommending me.

Later, I helped set up a bancassurance unit at Diamond Trust Bank and Jubilee. We broke even in 10 months. After that, Equatorial Group, then Standard Chartered, and now Absa.

At Absa, my focus has been on structure, people, and culture-getting the entire bank to buy into the bancassurance vision. With leadership support, we built the unit to over a hundred people within a year and a half. That’s really how I got here-step by step, through people, resilience, and opportunity.

Where did you go to school?

Let me start with the letters that I like. I did my executive programme at Harvard, and together with my high school, those are the two institutions that shaped me the most-just in very different ways.

Harvard shaped how I think about building business, leadership, and impact. Moi Girls High School in Eldoret shaped my character. Being a national school, you’d arrive there thinking you’re the top student, then suddenly you’re ranked 56 out of 108. That humbled us very quickly. I realised there are people far brighter than me.

Beyond academics, we were grounded in values-discipline, focus, how to compete, and how to live with others. By the time I got to university, a lot of that foundation was already formed. When I entered the workplace, I assumed everyone was there simply because they were qualified.

Then I began to discover the many human dynamics inside organisations. That pushed me to read widely, to study leadership and human psychology. Eventually, I went to Harvard to understand leadership from a global perspective. Even today, I’m still learning. Leadership, for me, is a lifelong journey.

How was your childhood?

Happy. [Dreamy look]. Really happy. I adored my father-he felt like a superman. I grew up in Eldoret in a big family-brothers and sisters, a really happy childhood. We had a farm, I played with my siblings and neighbours, at school I joined the drama club, and recited poems. When I was a child, I loved drawing and writing, and I read a lot. I liked Yusuf Dawood’s column, The Surgeon’s Diary in the Daily Nation, and thought maybe being a doctor would be good. My father, a businessman who dabbled in many trades, would take me with him to pick berries and teach me how foods help our bodies. That inspired my interest in health and medicinal plants.

At university, I studied medicinal plants and did research on them. Science was tough, though, and I eventually moved into the financial sector. But I haven’t let go of that passion for health-I still eat well, live healthily, and think of ways to help others live healthy lives.

Are you still interested in medicinal plants?

I am. In fact, at home I have a whole book on medicinal plants. I practice edible landscaping-jasmine to repel mosquitoes, moringa for nutrition, and berries as antioxidants.

If I have a cough or cold, I rely on natural remedies first-lemon, electrolytes, exercise-before medicine unless it’s serious. I walk a lot and swim sometimes. Once a month, I do about 12,000 steps in Karura-roughly 5-7 km.

I enjoy movement, healthy eating, and staying active. I try to reduce carbohydrates and fats, especially as I age. I prefer boiling meat and bones to make broths, seasoning lightly with natural spices.

I believe natural flavours are enough-frying doesn’t make food sweeter. For breakfast, I usually have smoothies. I eat a lot of fruits and vegetables. I enjoy sweets and cake occasionally, but they’re not part of my routine.

How would you rate this year?

I’d rated it 9 over 10, but then last month, I dropped it to 7. My husband died.

Goodness, that’s… horrible! I’m sorry to hear that. What happened, if you don’t mind me asking?

He got a heart attack while sleeping. Unfortunately, he was out of the country. He’d gone for a UN assignment in Sierra Leone.

What do you remember about that night?

We were planning to go to the US with my daughter that night when I got a call from Gigiri. The caller worked for the UN, specifically for FAO [Food and Agriculture Organisation]. They said I needed to come to the UN office immediately.

I told them I was busy and travelling, and asked if we could meet later-but they insisted it had to be that day. I had to drive myself to meet them. While on the way, I called the number back and asked for the name-Penina. I googled her: UN Staff Counsellor. I wondered, why is the UN Staff Counsellor calling me? Something felt off. I told my daughter-

How old is she?

My daughter is 15. I told her I didn’t understand why they were calling me. She said she hoped it was something good. I think she sensed my mood had changed. I told her I hoped so too. When I arrived at the UN, the lady was waiting for me at the gate. She took me into an office, and I saw signs for the counselling centre and clinic.

Inside, there were two people seated-a lady and a gentleman. She introduced them as my husband’s colleagues from the Kenyan office, and herself as the UN staff counsellor. That’s when my instincts went up.

I knew something was wrong, but death was not on my mind. I thought maybe there had been an attack, or an accident, or something related to his work. She asked me to sit down and asked what relationship I had with Edwin. I told her he was my spouse. Then she said, “Let me go straight to the point.”

She told me that the previous day, my husband had not reported to work, and they were unable to reach him. His phone was ringing but not being picked. Because they had another mission scheduled, his colleagues went to his house.

When there was no response, they went to the back of the apartment and saw him lying on the bed. Following UN protocol, they brought a doctor, broke in, checked his vitals-and his body was lifeless.

Knocked you off your feet?

I asked them if he was really dead, and they confirmed he was. I asked if he was in the mortuary-they said yes. Living with someone, you never expect they will die. I broke down there, of course.

Coincidentally, a friend called while I was sobbing. She was checking my travel plans. I told her what had happened, and she invited me to her house, since my daughter was home and the other one was at school. I stayed there the whole day because I had to tell my daughters about their father’s death at 4 pm, and cancel our US trip.

Then came the logistics-repatriating his body from Sierra Leone. For the first time, I was travelling with my husband as cargo, sitting on a plane knowing I would return with his body. [Pause] Anyway, let me not talk about it because I don’t want to get emotional. So yeah, that was the downside of this year.

I’m sorry!

Yeah. I learned that there is always a lesson, even in the saddest moments. Life is very fickle-you can be healthy and still die suddenly. So you have to live each day fully.

If you want to sit in the garden and do nothing, that’s your choice. But if you live today, make it count, because you never know. He had bought us gifts-beautiful fabric for me and clothes for the children. His colleagues even wrapped them. I’ve never opened them; they remain exactly as they were. I still look at them.

The girls must have been devastated.

Oh, my God. They loved their father, and he adored them. They were devastated. Even now, they talk about him in the present tense. My daughter was telling me yesterday, “Mom, what would you do if I had a boyfriend and he frustrated me?” I told her I would tell him to leave her alone. She said, “No, Dad would shoot them. Dad has a shotgun.” He was always serious about protecting us. I keep quiet-they’re still processing.

I also realised something about mourning: adults come to console me, but nobody remembers the children. Life moves on for them-they play, go to school, and normalise things. But who actually sits with children to help them process losing a parent at 15? Many children don’t get the chance to grieve or cope like adults do. I want to take them to therapy.

When did this happen?

On the 3rd of November.

That’s just the other day.

Yes. We buried him on the 19th. I just returned to work on Monday, which is why I couldn’t meet you sooner. But here I am, talking about it without crying. I can smile.

And crying is also fine.

Yes. Two weeks ago, I was uncontrollable-I couldn’t even talk. So many people have supported me, so many. But when I look at my children, I remind myself that if I break down, they will break too. So I try to hold myself together. And there are some journeys you take alone. Nobody sees themselves as a widow at such a young age.

Interestingly, the priest said it when he came to our house for the mass for the deceased: “Now it’s time to pray for the widow.” It was the first time I heard “widow,” and I looked around, thinking it wasn’t me. Then it struck me-it actually was me. [Laughs]

Generally, you’ve had a good life?

Yes, but we often take many things for granted. Small things people do for us go unnoticed until they’re no longer there. For example, my daughter recently came to me saying she couldn’t fix the Wi-Fi. I didn’t know how either-it used to be handled by their dad.

Once there was a problem, and when I called him in Sierra Leone, he asked if I had checked. Somehow it got fixed, but I hadn’t even known how. I’ve realised all these little things were never just given. Now, I see their value. We shouldn’t take people or things for granted.

How has this impacted other areas of your life, like work?

I try to handle people with kindness and compassion. Do you understand their journey, their story? It changes the dynamic. You don’t know what someone is dealing with. The other day, I was in town, and a girl was passing by in tears. I didn’t know why, but I could relate. I just thought, whatever it is, it’s heavy-God have mercy.

If you could get one gift for Christmas, physical or metaphorical, what would it be?

The only gift I want right now is something that I can be reading every day to remind me that, you know what? You can do this. It is well. Because it is.

Has this shifted perspectives on the future, what you wanted?

Yes. There are a lot of responsibilities-my responsibilities. Now I realise I’ve got to handle things financially, because he carried a big chunk of them, like fees and all.

So you start thinking and planning, even if you haven’t before. Even my career feels different. When I talk about insurance and death, it’s real-it can actually happen. I’ve experienced it firsthand.

I also think about raising my daughters-they’re teenagers, they loved their father. How do I balance things to help them be okay? Society is made of males and females, and there’s a part he played in their life that I may not fully fulfill.

But what can I do to make life lighter for them, and to give them some sense of that male perspective? Those are the things going through my mind right now.

Was your husband happy?

He was. [Pause] He was. He loved rhumba and bango music, loved hosting people. He loved cooking. He was a happy guy, grew up on the Coastal region, so he just took life easy.

It was never that serious. Nothing is, even that Range Rover, will be exciting but if you think about it two years from now, will it still be exciting?

Yes, a Range Rover is a lovely car.

[Laughs] Well, the Range Rover is a great car. I love it. Love the Vogue, especially now-it’s designed beautifully. It’s those little things that matter.

I see children playing and, you know, you hug them, you laugh with them, and you’re like, oh, such innocent, beautiful souls. I wish I could just be like this without the noise issues, those kinds of things.

A cup of coffee is simply a lively start to many breakfast tables, but for Nigerian hyperrealist artist Ekene Ngige, coffee is a natural working medium that has become his signature trademark-paintings that embody the essence and aroma of coffee itself.

His show This Little Light of Mine, currently at the BoConcept Nairobi, located at The Address, is an exploration of a style and technique that is yet to gain traction across the African continent; a bold and explicit gamble by an outstanding artist making waves in the visual art scene.

Growing up in Lagos, Ekene recalls being a painter from childhood, his education was curated around improving what he knew from a young stage that he wanted to do all his life, painting. His journey first started with painting with acrylics and watercolours. ‘I needed to stand out because when I looked around, I saw a lot of gifted artists doing hyper realism work in Nigeria, it was almost like we were all doing the same thing. There was a need for my art to be able to stand on itself and speak my name. As time went on, I experimented with different medium- water colours, shoe polish. My first exhibition launched a café in an airport and it gave me a relationship with coffee,’ he says.

After this experience and subsequent interactions with the franchise as part of the branding team, Ekene would fall in love with the coffee spirit. He would later on go back to his studio and make a gel out of coffee which he used to make a painting; an experience he lauds as fantastic.

‘I fell in love with coffee as a drink but to be able to create something out of a beverage I loved so much which even retained the aroma of coffee was mind blowing for me. I felt it was the unique style that I had been looking for and therefore decided to keep it.’

Later on, he went online to look for kindred spirits and recalls stumbling into a Russian, some Americans and Europeans and a couple of Brazilians.

‘I get my inspiration from things happening around me. I wanted to paint more of Africa. I wanted to paint stories that lie ignored, stories that bear history and advocate for specific rights,’ he says.

In terms of solubility, coffee provides a versatile medium for Ekene to paint his subjects. His use of watercolours combined with acrylics and coffee results in works with strong, rich tones of melanin that stands out from shades of ebony across different mediums.

In his paintings, he primarily uses instant coffee, which is more soluble and has a smoother texture. Sometimes, he uses coffee alone, but at other times he employs coffee bean rolls to create patterned mosaics and textures in his murals.

Ground coffee, however, does not feature in his palette because it leaves particles behind. For him, coffee is a unique medium because it carries a vibrancy not found in most colours; he describes it as a dye that can stay on paper or canvas for a very long time.

‘Coffee has been different from the moment I first discovered it as a medium. From my first piece, it attracted different kinds of reactions, especially from people who understood the coffee culture, which isn’t so strong in Nigeria as it is in Kenya or America. It makes me stand out because when you think about coffee and think about art, you think about me, which is amazing,’ he says.

For an artist who lives with a disability, Ekene remains nonplussed about how it affects his creativity.

‘It changes nothing with regard to my creativity. What it does is simply limit my movement from one location to another. I don’t go out or move around a lot. I prefer to stay and move within my energy and use it to create art. That has been the only major challenge I have had.’

This Little Light of Mine is a continuation of the theme whose body of works was first showcased in Lagos, Nigeria last year. It was inspired by Ekene’s personal experience as a disabled person.

Kenya has invested heavily in positioning itself as a leading African digital innovation hub, and therefore strong cybersecurity is now central to our brand equity.

The recent cyber incidents affecting government systems and public-facing platforms are a stark reminder that digital vulnerabilities are not just IT issues, they are national public relations emergencies that shape citizen trust, global perception, investor confidence.

Kenya’s rise as a digital powerhouse has been central to its economic story. From mobile money to fintech innovation and modernised government services, the country has built a strong regional brand around technology. This narrative has been key to attracting foreign investment, inspiring start-up activity, and cementing Kenya’s role as a regional hub.

Kenya has invested heavily in positioning itself as a leading African digital innovation hub, and therefore strong cybersecurity is now central to our brand equity.

The recent cyber incidents affecting government systems and public-facing platforms are a stark reminder that digital vulnerabilities are not just IT issues, they are national public relations emergencies that shape citizen trust, global perception, investor confidence.

Kenya’s rise as a digital powerhouse has been central to its economic story. From mobile money to fintech innovation and modernised government services, the country has built a strong regional brand around technology. This narrative has been key to attracting foreign investment, inspiring start-up activity, and cementing Kenya’s role as a regional hub.

AIB-AXYS Africa, a renowned and fully accredited brokerage firm at the Nairobi Securities Exchange (NSE) licensed by the Capital Markets Authority (CMA), today announced the expansion of its investment product suite.

Responding to surging investor demand for hard currency assets and effective hedging strategies the firm has launched access to a comprehensive suite of professionally managed offshore funds.

This strategic move simplifies access to international capital markets, offering investors a robust hedge against geopolitical risk and a pathway to secure long-term growth.

As a member of the distinguished AXYS Group, a fully integrated end-to-end investment powerhouse, AIB-AXYS Africa operates as the local investor’s gateway to advanced capital markets solutions and specialised fiduciary services.

Anchored by a presence in five key financial hubs – Port Louis, Mauritius; Nairobi, Kenya; DIFC and Abu Dhabi, UAE; Geneva, Switzerland; and London, UK – the Group serves over 10,000 clients across 85 countries and 6 continents.

This extensive infrastructure and footprint serve a dual purpose: offering institutional partners the governance and execution frameworks they require, while providing private investors with diversification options.

Expanding access to international markets

The newly curated offshore suite is engineered to transcend local limitations, enabling clients to build resilient, globally diversified portfolios. The expanded offering features targeted investment vehicles, including:

Axiom Africa Equity Fund: The firm’s flagship vehicle denominated in USD and EUR, which captures the continent’s most promising equities through a rigorous and proprietary “quantamental” approach. The fund has demonstrated robust resilience since inception and has delivered a 37.8 percent YTD performance as of October 2025.

Shariah-Compliant Funds: To facilitate access to ethical and faith-aligned investment options through investing in Halal stocks and global Sukuk.

Diversified set of Asset Classes: A broad array of instruments that is periodically adjusted to meet changing market demands and conditions ranging from Global Equity funds; Global Fixed Income funds; International Money Market and Index Funds; Mortgage and Real Estate Funds among other selections.

“This expansion is about more than introducing new products; it reflects our broader mission to equip clients with the knowledge, access and guidance needed to navigate global markets confidently,” said Mrs. Mary Maloba, Acting Chief Executive Officer of AIB-AXYS Africa. “It reinforces our commitment to long-term partnerships and thoughtful wealth stewardship.”

Seamless access for investors

In line with its strategic vision to deepen investor choice, AIB-AXYS Africa has streamlined the path to global investment, removing the historical complexity of accessing offshore solutions. At an entry point starting from USD 1000, Investors can now access these funds immediately through a simplified consultative process either in-person or by way of email.

Upon completing registration and submitting standard KYC documentation, clients are swiftly approved to fund their accounts. Once capital is deployed, investors gain full visibility into their portfolio performance through their dedicated client portal.

This offshore fund suite will soon also be accessible digitally (February 2026) via its market-leading mobile and online share trading platform, AIB-AXYS Digi Trader, which already provides users seamless access to local equities.

“Our goal is to meet investors where they are, offering solutions that adapt to their objectives while unlocking new opportunities across global markets,” commented Mr. Oltele Lemek, Head of Business Development. “These offshore funds enhance our ability to provide personalized guidance and deliver meaningful outcomes, allowing both institutional clients and private investors to pursue their distinct financial goals with confidence.”

About AIB-AXYS Africa

AIB-AXYS Africa is a leading investment and brokerage firm providing comprehensive solutions across capital markets. As part of the AXYS Group, it leverages a global footprint, integrated capabilities and deep expertise to offer client-focused, innovative investment solutions designed to create lasting impact.

Family Bank of Kenya has raised Sh8 billion through a private placement with the entrance of new owners diluting older shareholders, including the family of its billionaire founder, Titus Muya, even as the mid-sized lender eyes listing on the Nairobi Securities Exchange.

The private placement, which saw the bank offer new shares to a select group of sophisticated investors, was oversubscribed by 31.4 percent, with investors offering the lender Sh8 billion against a target of Sh6.09 billion.

Family Bank, which plans to list at the Nairobi bourse by mid-next year, said the bulk of the new shares offered were bought by fund managers, pension funds, insurance companies, and wealthy individuals.

The bank plans to use the funds for digital transformation, lending activities, and business expansion both locally and regionally.

‘Family Bank has successfully completed its private placement of ordinary shares, raising Sh8 billion against a Sh6.09 billion target, achieving an oversubscription of 131 percent,’ said Family Bank chief executive officer Nancy Njau.

‘The additional equity significantly bolsters our capital ratios, accelerates lending to priority sectors such as micro, small, and medium enterprises, green financing, women, and youth-led enterprises. This successful raise positions Family Bank strongly for sustained growth and enhanced shareholder value,’ she added.

Sources in the bank said current shareholders did not participate in the placement, allowing them to be diluted by new entrants.

Top ownership of the bank is dominated by Mr Muya, and his family. Dilution of the family stake has been a secondary goal in the bank’s capital raising ventures.

Mr Muya owns 5.6 percent of the bank directly, while his company, Daykio Plantations, owns 12.1 percent. Persons associated with him, such as Brian Muyah, Ann Muya, Mark Keriri, and Sheila Kahaki Muya, have a 2.6 percent shareholding each.

Kenya Tea Development Agency Holding Limited is the largest single shareholder with a 16.2 percent stake.

‘For existing shareholders, the planned listing creates an opportunity for improved liquidity and better price discovery of the stock, including a dilution pathway (if it involves fundraising), for investors looking to comply with maximum shareholding requirements by the Central Bank of Kenya,’ said Standard Investment Bank in a note to investors.

Family Bank, which has already contracted advisors to guide it in the listing process, will be listing by introduction, meaning it will not be raising new capital in the process. Currently, the bank’s shares are traded in the Over-The-Counter (OTC) market, limiting its liquidity. Listing by introduction will provide liquidity of the share and bring on board other investors who would otherwise not invest in the stock, while in the OTC market.

Before the private placement, the bank had 1,305,195,209 issued shares, which traded at an average of Sh16 each in the OTC market, valuing the bank at Sh20.8 billion.

Results of the private placement provide a huge boost for the bank, whose rights issue conducted last year had flopped, raising Sh252 million against a target of Sh9.3 billion.

The bank has enjoyed huge growth in the last year, pushing it to raise its capital buffers to support the business.

Family Bank reported a 56 percent increase in net profit for the nine months to September on the back of earnings from government securities.

The bank reported a net profit of Sh3.5billion, up from Sh2.3 billion in a similar period a year earlier. The bank’s improved performance was on the back of a 43.1 percent jump in interest earned from Treasury bills and bonds to Sh5.5 billion, up from Sh3.8 billion.

Family Bank is eyeing regional expansion with Uganda and the Democratic Republic of Congo on its radar.

The government has now formally begun selling its 15 percent stake in Safaricom to Vodacom of South Africa-a transaction that, once combined with the sale of future dividend rights, will raise approximately Sh244.5 billion for the exchequer.

Two statutory notices-one issued by Vodafone Kenya under the Takeovers Regulations, and another by Safaricom PLC under the Public Offers and Disclosures Regulations-set out the architecture of the deal.

What I find most revealing is not the headline valuation or even the politics around it, but the silent transformation happening beneath the surface: the foreign investor is taking 100 percent control of Vodafone Kenya.

Anyone familiar with Safaricom’s early history will appreciate the significance. Vodafone Kenya-the entity through which Vodafone Group long held its shares-was once the vessel that accommodated the infamous Mobitelea.

It was incorporated in 1998 with company number C79550 and registered to a lawyer’s office in Lonrho House. In many ways, this new transaction sterilises that dark and obscure chapter.

For years, Kenya has sat on immense value. Safaricom is the region’s most profitable company, boasting impressive margins and unmatched dominance in mobile money through M-Pesa. Yet the State has maintained its 35 percent stake largely out of sentiment, political pride, and the symbolism of holding equity in the country’s corporate crown jewel.

But the cold reality is unavoidable: the exchequer is now in a tightest fiscal position. Debt servicing is consuming the budget. Development spending has been crowded out. Cashflow pressures are acute. In such a context, raising Sh244.5 billion without borrowing is not just attractive-it is financially rational.

Critics will inevitably ask whether Kenya is surrendering too much influence over its national champion. They will argue the Vodacom will now effectively control the region’s most important telecoms and fintech infrastructure. But this claim is, at best, debatable.

The disclosures show that the chairman will remain Kenyan. A good number of independent directors will remain local.

There will be no merger-related redundancies for the first three years. The government retains a 20 percent stake and the right to appoint two directors, alongside safeguards around national interest, security, and data sovereignty.

Beyond that, Vodafone, with its 39.9 percent stake, already exercised effective operational control over Safaricom. This transaction merely formalises a structure that has existed de facto for years. The idea that Kenya is ‘losing’ Safaricom is more political rhetoric than economic substance.

Still, critics will dismiss the deal as a fire sale disguised as portfolio optimisation. But what is the alternative? A fiscally distressed state clinging to the illusion of control while the economy suffocates under debt? What is the value of holding on to ‘prestige equity’ when the exchequer is starving for liquidity? When you are under pressure to meet debt obligations, cutting development budgets, and borrowing domestically at punitive rates, then control-mere control-becomes a luxury.

Seen from a wider lens, the government has been forced by circumstances to behave like a portfolio manager rather than a sentimental, long-term holder of assets. Mature, high-value state investments are precisely the assets that should be monetised to reduce fiscal pressure and fund productive investment.

Consider the ongoing process to sell a stake in Kenya Pipeline, where the state hopes to raise up to Sh600 billion. I am reliably informed that the transaction adviser has been directed to put the deal ‘on the road’ by December 19-an indication of the urgency gripping Treasury.

We have entered an era where the State will increasingly rely on asset sales, securitisation, and strategic divestiture to plug widening fiscal gaps.

The evidence is everywhere. The other day, the government securitised part of the Road Maintenance Levy and raised Sh178 billion to pay contractors. It securitised the Sports Fund to raise Sh40 billion for the Chinese-built Talanta Stadium.

Tourism Levy receivables were securitised to raise billions more for the construction of the new Bomas of Kenya complex. And the Nairobi-Nakuru-Mau Summit road is being delivered through a PPP model, shifting financing and operational risks to private partners.

This Safaricom transaction must be understood within this broader paradigm shift. Kenya is being nudged-quietly but decisively-into an era where the state survives not by taxing or borrowing, but by monetising assets and optimising the balance sheet.

If done transparently and strategically, this could mark the beginning of a more disciplined era in state asset management.

Centum Real Estate (Centum RE) has made winning awards a regular habit. November 21 was the latest chapter of this positive streak as the real estate developer won three trophies during the inaugural Nation Media Group Top Property Awards 2025.

Centum RE Managing Director, Mr Kenneth Mbae, was crowned the Property CEO of the Year 2025. The award was in recognition of his leadership in governance, infrastructure delivery, sustainability, investor confidence, and community impact across the development portfolio. At the same event, the real estate firm’s Vipingo Development won the Best Value Added Development.

Vipingo Development in the coastal county of Kilifi earned the award based on the scale and quality of value-added infrastructure delivered across the 10,254-acre master-planned city.

At this development, Centum RE has invested in all-weather roads, a 3 million-litre-per-day desalination plant, sewerage systems, power distribution, and fibre connectivity, enabling both residential and industrial uptake.

Centum RE’s Two Rivers Social City in Nairobi emerged first runner-up in the Best Mixed-Use Development category during the Top Property Awards 2025.

Two Rivers Social City is the largest mixed-use precinct in East and Central Africa, integrating retail, residential, entertainment, commercial, and hospitality uses within one master-planned environment.

The development has two completed and fully sold residential projects, which now command rental incomes of Ksh150,000 to 350,000 monthly, translating to strong rental yields and long-term return on investment (ROI) for buyers.

The precinct continues to attract new homeowners through flexible purchase options, with deposits starting from Ksh553,000 for upcoming units.

Two Rivers is supported by robust infrastructure, including a 23 MVA dedicated power substation, a 2 million-litre water treatment facility, extensive internal roads, green spaces, and pedestrian-centric urban design. These components underpin its growing standing as a high-performance mixed-use city.

International awards

The company additionally won some international awards this year. It received two major honours in the 20252026 International Property Awards (IPA), a globally recognised competition judged in the United Kingdom (UK).

Its 1255 Palm Ridge, which sits within the Vipingo Development, won the award for Mixed Use Development. The homes offer an accessible entry point of Ksh3 million, enabling a wider segment of aspiring homeowners to secure modern, well-planned residences within a fully serviced urban ecosystem.

Vipingo Development combines residential neighbourhoods with commercial, industrial, and hospitality zones – including an EPZ, SEZ, a PGA-certified golf course, an airstrip, and access to the beach, creating a comprehensive mixed-use environment.

Another winning project feted during the International Property Awards is Mzizi Court apartments. The project won the Sustainable Residential Development award.

Known as 26 Mzizi Court, the development is located within Two Rivers Social City, and is designed to provide high-quality, sustainably built homes. Units are priced from Ksh5.53 million, supported by flexible payment plans and mortgage partnerships with leading lenders.

The development is IFC EDGE-certified, demonstrating verified reductions in energy, water, and materials consumption. Sustainability is embedded in its design and construction, contributing to healthier living environments and operational cost savings for residents.

Last year, Centum RE was formally recognised as an IFC EDGE Champion, reflecting its commitment to delivering independently certified green buildings across its portfolio. The accreditation acknowledges the company’s consistent achievement of measurable energy, water, and materials savings in developments such as the 26 Mzizi Court.

This recognition positions Centum RE among a select group of developers in Africa that have embedded sustainability, climate-conscious construction, and environmental performance into their end-to-end development process.

Rapid adoption of electronic invoicing (e-invoicing) in Kenya, driven by the Kenya Revenue Authority’s (KRA) Electronic Tax Invoice Management System (eTIMS), marks a pivotal moment in tax modernisation.

We are not just supporting compliance; we’re shaping a future where tax systems empower economic growth and transparency.

Kenya’s e-invoicing journey, formalised through the VAT (Electronic Tax Invoice) Regulations of 2020 and advanced by eTIMS in 2023, is a cornerstone of the country’s tax digitisation efforts.

eTIMS, a cloud-based platform, mandates businesses to generate and transmit electronic invoices in real-time to the KRA, replacing cumbersome paper-based processes.

By March 2024, this requirement extended to all businesses, regardless of VAT registration, ensuring comprehensive tax compliance across various sectors.

The system’s impact is profound: it reduces tax evasion by capturing transaction data instantly, enhances transparency, and streamlines VAT reporting. For instance, reports have shown that eTIMS boosts compliance significantly, with measurable effects across all sectors.

Beyond compliance, e-invoicing drives operational efficiencies. Real-time invoice validation minimises errors, accelerates cash flow management, and provides businesses with actionable financial insights.

For Kenya’s petroleum sector, mandatory eTIMS adoption since June 2025 was aimed at curbing underreporting, potentially increasing revenue collection.

The KRA’s developer platforms, such as GavaConnect, further amplify this impact by enabling API-driven integrations, fostering innovation in how businesses manage tax obligations. In my view, eTIMS is not just a regulatory tool; it’s a strategic enabler for Kenya’s ambition to lead Africa’s digital economy.

Fintechs are at the heart of e-invoicing’s success in Kenya.

The challenges for small and medium enterprises (SMEs), are limited tech infrastructure and high setup costs that hinder adoption. We address this through scalable, affordable and innovative solutions, making compliance accessible even in rural areas with limited connectivity.

Our role extends beyond technology providing our clients with quick turnaround implementation of eTIMS, training, support, reports, dashboards and reconciliation tools to enable efficient VAT reporting. Fintechs, in my opinion, are not just facilitators but innovators, turning regulatory mandates into opportunities for operational excellence and competitive advantage.

Kenya’s e-invoicing success offers a blueprint for Africa. We are already supporting tax digitisation efforts beyond Kenya to countries like Nigeria, Zambia and exploring other countries as a catalyst for this transformation.

Our commitment is to provide a harmonised, technology-driven tax ecosystem where regulators and businesses collaborate seamlessly. For regulators, this means adopting interoperable standards. I believe Africa’s tax future lies in public-private partnerships, where fintechs bridge the gap between regulatory ambition and practical implementation.

The evolution of e-invoicing in Kenya and beyond is more than a compliance exercise as it’s a gateway to a transparent and inclusive economy.

We remain committed to leading this change, embedding tax-smart solutions into our payment and commerce platforms.

To regulators, I urge the adoption of flexible, scalable systems that empower businesses of all sizes. To CFOs and business leaders, my advice is to embrace e-invoicing as a strategic asset, invest in integrations, partner with fintechs, and turn compliance into a driver of growth.

I see a future where e-invoicing is not only mandatory but will evolve into integrations with real-time payment solutions, enabling instant and efficient payment of tax dues. Additionally, we cannot overlook the adoption of AI and its potential to improve processes and systems for greater efficiency. This will allow businesses to enhance reporting and regulators to curb tax evasion.

As Africa’s digital tax landscape evolves, we stand ready to shape its future ensuring that tax systems not only collect revenue but also foster innovation and trust. The journey has begun; let’s lead it together.

In many workplaces today, employees’ confidence diminishes quietly due to low self-esteem and confidence. Factors like how employees are treated affect self-esteem if they feel they are not valued.

It influences how they communicate, negotiate workloads, handle conflict, do their work and position themselves for opportunities. This article highlights the importance of, and ways developing assertive skills.

Self-esteem is simply confidence in one’s worth and abilities. Research shows that people with healthy esteem view themselves as capable, likeable and deserving of respect.

When esteem is low, people often respond to everyday pressures in less constructive ways, such as aggressively, passively, and through subtle manipulation, designed to protect themselves from discomfort.

Aggressive employees raise their voices, dominate discussions, focus on winning, or use criticism as a weapon. Passive individuals tend to avoid confrontation, are overly apologetic, hesitate to express their needs, and frequently give in.

Manipulative behaviour falls in between, guilt-tripping colleagues, shifting blame or influencing situations indirectly to avoid responsibility. These conduct patterns strain relationships, weaken collaboration and undermine trust within teams.

Assertive individuals express their thoughts and needs clearly and respectfully, take responsibility for their actions and maintain their dignity without demeaning others. They demonstrate emotional intelligence. They are as fair, reliable and confident.

Assertiveness is the ability to state one’s views, feelings, and expectations clearly, listening with and responding with empathy, and respecting others’ views. This balanced approach supports clarity and stability.

Becoming assertive begins with recognising situations that cause discomfort. Emotional intelligence plays a major role here, helping individuals identify what behaviour bothers them, why it triggers certain feelings, and others.

With self-awareness, people can choose communication strategies that preserve their own well-being while maintaining positive relationships with colleagues.

Consider an employee who repeatedly arrives late. A non-assertive supervisor may ignore the behaviour or react harshly. An assertive response is direct: ‘I’ve noticed you’ve been arriving past 9am several times this month. It disrupts planning for the day. I need you to commit to being here by 9am starting tomorrow.’ This approach focuses on behaviour and sets a clear expectation.

Assertiveness is equally important in personal boundaries. When someone owes money and misses a deadline, many people choose silence to avoid confrontation. A balanced message might be: ‘You had committed to repay the loan last Friday.

The delay has affected my plans. Please let me know the new date you will clear it.’

Assessing assertiveness requires honest reflection. How easily can you say no? Do you express concerns when necessary? Can you ask questions without feeling inadequate? Are you comfortable stating your needs or offering a different opinion? If these actions feel difficult, the underlying concern is often confidence and self-esteem.

Strengthening assertiveness skills begins by acknowledging one’s rights: the right to make mistakes, to be treated fairly, to ask for clarification, and to decline unreasonable demands.

Workers who struggle to say no often find themselves overwhelmed, carrying extra workloads, lending money under pressure or agreeing to commitments out of guilt rather than willingness. This not only affects their performance but also their emotional and physical well-being.

Assertiveness requires honesty and clarity. A simple statement such as, ‘I’m not available to assist with that task as I have a meeting at 10am,’ is enough. Don’t create excuses lest you open negotiations. A response to an invitation might be: ‘Thank you for thinking of me. I’ll pass this time, but I appreciate the invitation.’

Handling criticism requires assertiveness skills. If the criticism or feedback is unclear, ask for examples. Then evaluate whether it is accurate, partly true or unfounded. When justified, acknowledge it: ‘I understand your concern about the delay; I will plan better next month.’ If partly true, agree and reject the inaccurate part. ‘I agree this month’s report was late, but previous reports have been timely.’ If untrue, respond calmly: ‘I don’t agree that the submission was late. According to our records, it was submitted yesterday afternoon.’

Criticism plays a crucial role in personal development. Individuals who handle criticism assertively grow stronger, more self-aware and more resilient.

Assertive skills have a direct link to career growth. Employees who express their ideas and request development opportunities stand out. They engage more confidently in performance discussions, participate actively in projects and position themselves for leadership roles. Visibility, often a prerequisite for advancement, increases when individuals speak up with clarity.

On a personal level, assertiveness strengthens self-respect, supports better decision-making, set boundaries that protect an employee’s well-being, contribute to their emotional stability, confidence and personal fulfilment.

Within teams, assertive communication enhances collaboration. Leaders with assertive skills inspire trust because they communicate expectations clearly, correct issues respectfully, and create psychologically safe environments.

Assertiveness strengthens self-esteem, enhances performance and supports success at every stage of one’s career. In a demanding work environment, the ability to express oneself confidently and respectfully is essential for personal growth, healthy relationships and effective leadership.

Nothing quite ushers in the festive season as brightly as those tiny Christmas lights draped everywhere, wound through railings and pillars, transforming ordinary spaces into magical scenes.

Well, behind every sparkling display are entrepreneurs who have spent months and a lot of money betting that Kenyans will want to light up their homes, businesses, and celebrations this season.

To understand how this booming market works, the BDLife stepped into one of Nairobi’s busiest lighting hubs.

At The Bazaar Plaza, in Nairobi city centre, Emmah Cherotich holds a remote control, switching through different lighting patterns on snowflake-shaped fairy lights.

Unlike the basic string lights her customers used to buy, these fancier versions, shaped like flowers, and crystal balls, show how Kenya’s fairy light market has evolved.

“I enjoy the festive magic,” Emmah says, having sold fairy lights for nine years.

A few streets away, Brian Masava, another seller is also preparing for the season’s rush. The time is 12:30 pm, and a showroom at Nairobi’s ever-busy Tea Room sparkles with thousands of tiny lights.

Brian unwraps another roll of LED fairy lights, this one stretches 100 metres, and plugs it in for a potential customer. Warm white bulbs light up across his workspace.

“November onwards, business is good,” Brian says, his phone buzzing with another delivery request.

Emmah notes that festive lighting is a business built on timing, planning, and understanding customer behaviour.

Her festive season starts in July, when she makes her orders from China. The lights arrive by ship in September, a 60-day journey that’s much cheaper than flying them in.

“If you bring the goods by air, it’s expensive because they charge per kilogramme. Sea is cheap because they charge by the space you use.”

What Emmah imports for Sh100 would cost Sh350 from local wholesalers. That difference means she can compete on both quality and price. She prices her fairy lights between Sh1,800 and Sh850.

For fairy light sellers, certain dates and celebrations drive sales in waves.

“It starts at the end of October, the second week, especially for corporate clients, including restaurants, hotels, conservancies, bars, clubs,” Emmah notes.

Diwali, celebrated around October 20, marks the first sales spike for Brian, who has been in the business for three years.

After Diwali, sales drop slightly before picking up again through November. The busiest period runs from mid-November through December 25, with a surprising second rush between December 24 and January 3.

“Between December 24 and January 3, when everyone has left, that’s the time we really sell,” Emmah says. “Because people decorate for Christmas and more on New Year. Especially clubs, restaurants, and lounges.”

With demand flactuating sharply, stocking and marketing become high-stakes decisions. This season, Brian brought in about 200 pieces of various lights valued Sh42,000.

But he admits that advertising costs even more. He spends between Sh5,000 and Sh10,000 every week on social media ads during the busy season, reaching customers across Nairobi.

During the slow months from February to July, he might spend Sh5,000 and sell only one piece. He has spent about Sh250,000 on marketing over the past one year.

Emmah targets a different market. Her ads reach middle-class customers aged 25 to 45 in wealthy neighbourhoods like Kilimani, Lavington, and Runda.

“This one is a purely online business,” she explains. Out of the 500 pieces she imported, she had sold about 200 by mid-November.

We usually target to sell the majority of the stock before December starts,” Emmah says.

“Because we are almost closing our Christmas sales on December 12. The risk of keeping stock, if you don’t sell before that, you lose money, and you can’t sell next year.”

Add-on services

Brian also offers installation services. His recent job was in a residential estate where the client bought 100 metres of strip lighting plus over 30 curtain lights.

His products range from Sh1,000 for basic 10-metre strings to Sh8,500 for 100-metre commercial lights.

Running an online business presents significant challenges. Last December, Brian lost Sh68,000 to a scammer when a customer ordered lights for delivery with payment on arrival.

The rider delivered the package to someone on the ground floor who claimed to be collecting for someone upstairs. When the rider went to the second floor for payment, the scammer had vanished with the lights.

Months later, the same scammer attempted the trick again, but this time, Brian worked with the police, leading to the scammer’s arrest. Although the scammer went to prison, Brian never recovered his money.

Nontheless, he continues to offer pay-on-delivery options, knowing that many genuine customers prefer it.

While fairy lights brighten homes and businesses, fire pit heaters are transforming Kenya’s outdoor festive season.

In her warehouse in Embakasi, Elizabeth Warui stands surrounded by fire pit heaters in different designs, including sleek cylinders and elegant pyramids. She’s fully stocked and ready for the season.

“This festive season we’ve seen steady demand for our premium fire pit gas heaters, but honestly not as high as past years,” Eizabeth admits.

“The spike now is mainly because people are hosting more outdoors and spending more time with family.”

Her premium fire pit heaters range between Sh60,000 and Sh75,000. But she also stocks more affordable options. Her pyramid heaters, bullet, mushroom, and cylindrical heaters range between Sh40,000 and Sh60,000.

“People love them because they have such sleek, modern looks,” she explains about the premium range. “It gives you that bonfire feeling but without any smoke or mess because it uses clean gas. It’s very beautiful and very elegant.”

“Our pricing is mainly based on the materials used, the strength of the frame, the burner system, the finishing and the quality of the components. Clients are willing to spend more for premium or statement pieces during the festive season.”

Her buyers are homeowners, restaurants and event planners.

“Everyone wants their outdoor spaces to feel cosy and inviting at night, especially when they are hosting family and friends,” she says.

The heaters have also become unexpected gifts. “They make such a meaningful gift, especially for couples and new homeowners, because a heater completely transforms an outdoor space,” Elizabeth says.

On Ngong Road, Delius Mwangi’s story tells another side of the fire pit market: “Out of stock,” he says simply, a sign of just how hot demand has become.

For fire pit sellers, the timeline is similar but driven by different needs. Elizabeth notes that while festive preparations contribute to sales, it’s the outdoor lifestyle shift that’s really driving the market. “Fire pit heaters have become a big part of the Kenyan outdoor lifestyle,” she observes. “There has been a rise in backyard improvements and restaurant outdoor upgrades, and people in general want to enjoy fresh air instead of sitting indoors.”

She relies heavily on direct orders and repeat customers.

“Most Nairobi deliveries take between one and two hours,” she says. “For clients outside Nairobi, including Kampala and Tanzania, we do next-day deliveries because we have to use a courier service.”

During November, she runs promotional sales. “Right now, we have our Black November Sale running with up to 20 percent off on selected heaters.”

She notes that safety is a constant conversation with her customers, especially during the party season.

“Place the heater on a stable and flat surface,” she advises. “Keep it away from flammable items like curtains or plants, or paper decor. Make sure the gas cylinder is properly secured and the connections are tight.”

She also emphasises vigilance during events. “Do not leave the heater unattended, especially during a party. And always leave a small, clear space around it because guests tend to move around a lot during events.”

Unlike fairy lights, fire pit heaters require minimal customisation.

“We usually sell the heater exactly as it is because its beauty stands on its own and does not need any add-ons,” Elizabeth explains.