Category: Business Daily

If there is one thing that Aziz Fazal, the CEO of Fazal Luxury Boutique Boss, could talk about for hours, it is men’s fashion.

He has been in business for 45 years and one thing he has noted is how suits have changed.

The BDLife meets him dressed in a reversible cashmere jacket, polo T-shirt, tech-wool trousers and sneakers, all from Hugo Boss, an outfit that could easily be worn to a board meeting or business lunch.

‘This is what modern dressing is all about. The attributes of the traditional suit have changed. Everything has moved into a new, modern, easy, flamboyant, casual style,’ he says.

Today’s man is swapping double-breasted blazers for tech-wool jackets, silk ties for open collars and silk shirts and leather oxfords for sneakers.

Once upon a time, the Kenyan man wouldn’t dare show up to a meeting without a full suit, starched shirt and polished oxfords.

Today? He’s pairing a tech-wool blazer with sneakers and still commanding the room. Suits tailored rigidly, with shiny lapels and strict formality are no longer in high demand. The shirt worn under the suit is also different.

In the 1970s, the look was bold, with wide lapels, flared trousers, and form-fitting silhouettes. By the 1980s, men wanted to appear strong, so suits had padded shoulders, single-pleated trousers and boxy jackets that mirrored corporate ambition.

The 1990s saw the introduction of slimmer silhouettes and shorter jackets. Then came the 2000s, when comfort took centre stage, casual Fridays became the norm, and elegance leaned toward minimalism.

‘Then came the pandemic. The business of suits disappeared overnight. Everyone moved into loungewear and jogging attire,’ Mr Fazal says.

After the pandemic, rules changed.

‘People wanted elegance, but not the kind that feels stiff. That’s how the suit found its new form,’ he says.

Today’s professionals pair denim trousers with polo T-shirts, layer tech-wool blazers over crewnecks and complete the outfit with sneakers. In Mr Fazal’s eyes, the modern suit is not dead, it’s just more human.

‘This is what modern dressing is all about. You can look smart without feeling overdressed. The fabric has to flow with your life,’ he says.

He notes that most of his clients now prefer neutral tones, such as ash grey, stone, camel and midnight blue, with fewer patterns and simpler textures.

‘People have become more toned down in their choice of clothing. It’s about easy fabrics, neutral colours, and a sort of sophisticated elegance. The trending shades for 2025 are sable green, pearl white, light rust and ash grey. For formal looks, parliament blue and earthy tones remain popular,’ he says, adding that the stiff, heavily structured suits of the past are now reserved for ‘very serious men who have to wear Neapolitan cuts’.

When it comes to fabric, cotton-linen, wool-silk and tech-wool blends now dominate the racks, chosen for their comfort, breathability and versatility. ‘These are the most in-demand fabrics right now because they’re comfortable, durable and sophisticated,’ he says.

But the suit has not died. The Fazal family has been in the fashion business for over 75 years, and at their shop the art of the suit still carries an air of ceremony.

‘We start with the fabric,’ Fazal says. ‘Then we decide on the lining, the buttons and the other details. If you want a blue suit with a shocking yellow lining, why not? A made-to-measure suit is like wearing a second skin. Everything must be impeccable: the fabric, the cut, the finish.’

Although technology has made production faster and easier, Mr Fazal insists that craftsmanship remains paramount.

‘We keep up with global fashion trends, but we never compromise on tailoring. That’s what has kept us relevant for seven decades. There’s now a high demand for fabrics that don’t crease or stretch and move with you. That’s where technology in fabric design comes in,’ explains Mr Fazal.

He points to Dressletic wool, a new textile that is as flexible as sportswear.

‘You could jog in it,’ he says, smiling. ‘That’s how far men’s suits has come.’

This shift toward accessibility and mood is less about intimidation and more about quiet confidence. ‘The Kenyan man doesn’t want to scream with his clothes anymore. He wants to express calm authority,’ he says.

Younger people have also not ditched the suit. According to Mr Fazal, his youngest clients are in their 20s, entering the job market and young entrepreneurs keen to stand out.

‘We’re seeing lots of young men who appreciate a well-made suit. Kenyan culture still values presentation. A suit still says, ‘I’m ready’,’ he says.

However, they wear the suits differently. They are mixing formal and casual elements, wearing blazers with jeans, polo t-shirts instead of shirts, and swapping leather shoes for sneakers.

‘Social media has played a huge role,’ notes Mr Fazal. ‘When you look at red carpet events in Hollywood or Paris, you’ll see the same shift. Kenya is simply aligning with that global movement.’

So, is the traditional suit on its way out? Mr Fazal pauses. ‘We already have signs that the conventional suit is a thing of the past.’

‘Soon we will have no suits. The jacket is being replaced by the overshirt. Trousers now have elastic waistbands and drawstrings. Polo t-shirts are replacing shirts, and ties are becoming obsolete. Sneakers are the new dress shoes. We’ve been in this business for 75 years and if there’s one thing we’ve learned, it’s that style never stands still,’ he says.

Small Claims Courts (SCC) have helped free Sh21 billion back to the economy since its establishment in 2021, Chief Justice (CJ) Martha Koome has said.

Speaking when she opened the third annual SCC symposium, Justice Koome said the billions freed has helped support traders, farmers, micro-entrepreneurs and small and micro-economies across the country.

‘By offering simple, affordable, and expeditious mechanisms for resolving everyday disputes, the SCC represents a profound shift toward people-centred justice,’ she said.

The courts were introduced as part of plans to reduce the case backlog, which has bogged down the Judiciary over the years. The adjudicators handle cases valued at less than Sh1 million.

SCCs are meant to hear simple cases like sale and supply contracts, debt recovery, loss and claims from personal injury, among others.

The cases should be finalised within 60 days of filing, and the hearing is conducted on a day to day basis until the matter is determined.

Parties appearing before the SCC are not required to adhere to strict observance of technical procedures and a party can choose to represent themselves as the process is easier to follow.

Justice Koome said that during the last financial year, more cases (158,357) were filed as compared to 41,524 that were filed in the previous financial year. The CJ added that in the last financial year alone, the courts resolved 155,227 cases.

To make the courts work better, Justice Koome appointed a committee chaired by High Court Judge Anthony Mrima, which will propose amendments to the SCC Act and its Rules to harmonise inconsistencies, clarify jurisdictional boundaries, ‘and ensure the court remains faithful to its founding philosophy’.

She said among the issues to be addressed by the committee are conflicting interpretations on the jurisdiction of the court, the filing of complex commercial matters and contradictions between the Act and Rules, which she noted had created uncertainty.

‘For decades, many Kenyans were effectively locked out of the justice system because pursuing claims was prohibitively expensive and procedurally intimidating. The SCC was created to bridge this access gap by offering a simplified, affordable and expeditious avenue for resolving minor civil and commercial disputes,’ she said.

Justice Koome added that the courts were meant to reclaim justice as a public good, demystifying legal processes and ensuring that the Judiciary is a partner in the everyday struggles of citizens.

‘These numbers tell a powerful story. Behind every case resolved lies a trader who recovered payment for goods supplied, a farmer who enforced a small contract, or a micro-entrepreneur who was protected from exploitation. In every instance, the SCC has demonstrated that justice can be delivered expeditiously, affordably and fairly,’ she added.

‘…the Standing Committee will propose the development of Small Claims Appeal Rules to simplify and expedite appeals to the High Court,’ she said adding that the committee will also develop a standard judgment template to facilitate ‘on-the-spot’ delivery of decisions, mirroring successful models from other jurisdictions such as Zambia.

The CJ noted that the Milimani SCC remained the busiest, registering 120,914 cases, representing 76 percent of all filings. This was followed by Eldoret with 5,394 cases, and Nakuru with 3,665.

Justice Koome said the bulk of matters, approximately 79 per cent, related to debt recovery, underscoring the court’s critical role in sustaining Kenya’s commercial ecosystem and supporting small and medium-sized enterprises.

Cash flowing through agents of mobile money like M-Pesa and Airtel Money fell by a historic Sh344.9 billion in nine months to September, as businesses experienced mixed performance amid a drop in disposable income.

Data from the Central Bank of Kenya (CBK) shows that the mobile money agents processed Sh6.2 billion worth of transactions from Sh6.5 billion in the same period a year earlier, reflecting the biggest drop since the introduction of M-Pesa in 2007.

The dip came at a time when Kenyans were grappling with subdued consumer purchasing power on increased payslip deductions, coupled with suppressed job openings in key economic sectors.

The Stanbic Kenya Purchasing Managers Index (PMI), which tracks monthly private sector performance, remained above 50 points for six months within the nine-month period, indicating relative general improvement in business conditions.

A reading above 50 signals an improvement in business activity, while that below the mark indicates a deterioration. Firms, however, maintained unchanged wages amid a freeze in new hirings, reducing the disposable income available for consumer spending in the economy.

The consumer purchasing power also took a hit from inflationary pressures which cut down employees’ real income during the period, further clipping the flow of cash.

The drop in cash handled by agents also coincided with the continued piling of unpaid bills to State contractors and suppliers, which hit Sh524.8 billion as of June, further straining the flow of cash in the economy.

This marked the second ever contraction since the CBK started recording the data in 2007, coming after a 2.7 percent drop recorded in nine months to September 2023.

CBK data shows that the decline in value came despite higher activity at the agent level, with customers carrying out 1.91 billion transactions during the period, a 2.7 percent rise from a year earlier.

This suggests that customers are making more low-value transfers and avoiding large cash movements that attract higher fees or require more cash on hand.

The pattern has become increasingly popular in a period where households and businesses, have been under mounting fiscal pressure to keep closer the control of their day-to-day spending.

Many users have been splitting payments into multiple small transfers to manage costs, while others are relying more on direct wallet-to-bank transfers that do not require an agent.

During the review period, the number of active agents grew sharply by 24.3 percent from 367,551 in September last year to 456,742 this year, while registered accounts rose by 9.6 percent to 87.01 million during the period.

Safaricom, for example, reported that its agent network across the country expanded 14.1 percent year-on-year during the six months to September to stand at 298,890.

The drop in cash passing through agents is also taking place as banks continue to hold unusually high levels of cash on their books, due to slow demand for loans and cautious lending. The lenders have been growing deposits faster than loans, leaving them with large liquidity buffers as customers pull back on borrowing and spending.

Industry data shows that lenders have been facing high loan defaults, which has pushed them to hold back on credit issuance, limiting the flow of new loans into the economy and ultimately reducing the large-value cash cycles that often spill over into mobile money usage.

Further, agents have been facing competition from the growing use of bank apps and mobile banking tools that allow customers to move money directly from their accounts into mobile wallets. These tools reduce the need to deposit or withdraw cash at agent outlets, especially for customers who handle larger sums.

The current trend sharply contrasts with the early years of mobile money, when agents handled most of the deposit and withdrawal activity and customers relied heavily on cash for both personal and business transactions.

Sunday, September 29, 2024 was supposed to be a good night for everyone who grew up with Lauryn Hill’s voice in their ears.

Ms Hill, the legendary American singer behind the timeless 1996 classic Killing Me Softly, was headlining, backed by a 26-member technical team and millions of shillings’ worth of sound equipment flown in from Dubai. Then the rain came and Kenya’s sound problem was laid bare.

A downpour breached the stage enclosure, soaking the ultra-sensitive Digital Mixer Console (DMC), the centrepiece of Ms Hill’s live production. The console shut down, bringing the festival to a standstill and threatening to cancel her show entirely.

For over three hours, organisers scrambled for alternatives, piecing together outdated local consoles from across Nairobi. Against all odds, and encouraged by Ms Hill herself, they salvaged a performance.

Among those watching the chaos unfold was veteran sound engineer and entrepreneur Max Mululu, the founder of Xpose Ltd. What he witnessed that night crystallised a long-standing industry problem: The country had a chronic underinvestment in high-end sound technology. The market relied heavily on flying in equipment at crippling cost, and from that chaos, he saw a business case.

The investment gap

For years, event organisers have spent between Sh2 million and Sh5 million to hire high-end consoles from Dubai, South Africa, and the UK. Sometimes it costs more when factoring in travel, insurance, customs bonds, and technical crew.

‘It was extremely expensive when we had to source it from Dubai for Lauryn Hill, with the total fees coming to about Sh5 million, including hiring costs,’ a YDX management executive tells the BD Life.

At the Lauryn Hill festival, YDX was prepared to charter a plane to bring in a second mixer from South Africa at a cost of over Sh10 million.

To Max, the problem was simple: ‘How do we not have such mixers in Kenya?’

His frustration deepened after interacting with the foreign engineer who had flown in with the DMC during the Lauryn Hill show.

‘It felt like he looked down on us,’ Max recalls. ‘That bothered me as much as the failure itself.’

He left the festival determined to close that gap.

A Sh20 million leap

As Max speaks to the BDLife, two colleagues wheel in a brand-new unit into his Karen office. It is a gleaming Digico Quantum 338, one of the most advanced live sound consoles in the world.

There are only two in East Africa; the other is in Tanzania, Max says.

The investment is enormous. Digico Quantum series consoles cost between Sh13 million and Sh31 million depending on configuration. Max’s cost him Sh20 million.

‘It’s the preferred desk for 90 percent of international artistes,’ Max says. ‘This is what Tems recently used at Blankets and Wine, what Lauryn Hill was supposed to use, and what Burna Boy’s shows run on.’

The Quantum 338 supports over 64 channels, has dual power supplies, advanced 32-bit processing, and can keep a show running 30 minutes after a power cut.

But even the world’s best console is only as good as the people running it. ‘We had to send our engineers to South Africa for training,’ Max notes.

The business case

Sound, Max insists, is lucrative, but patience is essential.

‘Most investments take 10 to 12 years to recoup. But I expect this one to pay for itself in less than five.’ He is not blind to the danger of obsolescence.

‘With how fast technology moves, people might worry about obsolescence, but I’m not. The manufacturer has already designed an upgrade system that is software-based, because the console runs on a powerful processor. It’s like updating your computer’s operating system to improve performance. The hardware is built to last,’ Max grins with confidence.

Hiring the console alone, without the full sound package, will cost Kenyan clients about Sh1 million per event. Max reckons its a great saving opportunity compared with the Sh2 million to Sh5 million it costs to fly similar equipment.

And because it is now locally available, Max says organisers can avoid flight and accommodation for foreign technicians; expensive customs bonds, and insurance loading for high-value equipment.

‘Bringing equipment into the country, knowing it has to leave again immediately after, is complicated and frustrating. You have to deal with customs, and they require a bond, which is a percentage of the equipment’s value, as a guarantee that it will be taken back out of the country. The reasoning is that they don’t know if you intend to sell it. The paperwork alone is tedious.’

And the timing could not be better.

The September-December season is traditionally the industry’s busiest window, filled with concerts, festivals, and corporate galas.

‘Sound isn’t glamorous every day,’ he says. ‘There are dry spells. But when it peaks, it’s madness – 24 to 36 hours on the road. That’s where the money is.’

The pioneers

Kenya’s sound industry has long relied on pioneers who invested early. Twelve years ago, Live Gigs bought a Yamaha M7CL – then a revolutionary console costing Sh4-5 million.

‘They were the only ones with it in the region,’ Max recalls. ‘Their demand was through the roof.’

But with technology moving faster, and price tags rising, many Kenyan firms slowed down on reinvestment. As a result,

technical failures became more frequent, and global artistes became harder to satisfy.

‘The industry stagnated,’ Max says. ‘If a mixer alone costs Sh20 million, imagine what a full system costs.’

Now, with the Quantum 338 available locally, Max says Kenyan organisers finally have a world-class alternative.

A few days ago, Max hosted sound engineers from Kenya, the UK, and South Africa for the console’s official unboxing. The room buzzed with excitement – and relief.

‘We’re ready now,’ Max says with a grin. ‘Next time an international artiste comes to Nairobi, we’ll be prepared.’

Falling lending rates and the start of settlement of pending bills by the government have enabled Absa Bank Kenya place a tight leash on its stock of bad debt, with the gross non-performing loans remaining flat at Sh44.3 billion at the close of September.

The bank’s stock of dud loans has been unchanged since the start of 2025, a reversal from the surge witnessed in 2024 when the pile of bad debt grew by 20.5 percent to Sh42.5 billion in the twelve months that ended on December 31, 2025.

The Central Bank of Kenya has slashed its benchmark rate by 325.0 basis points (3.25 percentage points) to 9.25 percent since the start of 2024, a move aimed at signaling banks to lower interest rates and boost credit flow into the economy.

Commercial bank lending rates have fallen from a peak of 17.22 percent in November 2024 to 15.17 percent in August 2025.

The bank says it now banks on the introduction of a new risk-based pricing model effective December 1st, to further bolster credit uptake.

‘The stock of non-performing loan is now shifting positively and one can just see the weight of the high interest rates environment that we have come out of. With the rates coming down, we have seen improvement in the ability of borrowers to resume servicing their facilities. What the Central Bank is doing with the introduction of Kesonia, we expect a lot more predictability and stability in the lending rates environment. It also promises to introduce quicker transmission of Central Bank signaling’, Absa Bank Kenya’s Managing Principal for Corporate and Investment Banking, James Agin, says.

The bank also cites the start of settlement of roads sector pending bills as a key factor in the trends being seen in the stock of bad debt.

According to data from the Ministry of Transport, out of 875 verified roads sector contracts that have pending bills, 664 have had their dues cleared following a Sh104.0 billion bridge facility secured by the government. It was secured through securitisation of Sh7.0 out of every Sh18.0 Roads Maintenance Levy collection.

‘We have seen consecutive tranches of securitisation transactions taking place and with pending bills beginning to be settled, we are seeing facilities that were stuck for a long time starting to be settled. I think the worst is behind us because for us as a bank, we now have a number of touch points where we can confidently say we are seeing consumer spending picking up because of the settlement of pending bills,’ Agin says.

A mature Toggenburg goat buck fetches Sh70,000 in the local market. A purebred buck has a sleek brown coat and long drooping ears, but it is not the look that makes it a premium goat; it is its high milk production records and adaptability.

It has gained popularity among Kenyan breeders, with 26-year-old Caleb Mwenda already seeing it as a promising long-term investment.

The Toggenburg breed comes from Switzerland and has been exported to many countries for dairy farming, including Kenya, the US, and South Africa. They do well in temperate and semi-arid regions, provided they have shade, proper nutrition, and clean water.

Their milk, known for its good butterfat content, is ideal for cheese production, while their gentle temperament makes them easy to manage.

‘They are strong, reliable, and give good returns. That is why I chose them,’ says Mr Mwenda.

His journey into dairy goat farming began while he was still a university student. A graduate of Maasai Mara University with a Bachelor’s degree in Economics and Statistics, he saw potential in a niche that many in his home county of Tharaka Nithi had overlooked.

Starting small

He started small. ‘I had saved about Sh40,000, which I used to buy two does, construct a small pen, and purchase feed. That is how Chamugo Dairy Goats Farm was born,’ he recalls.

The early days were far from easy. Balancing academics with farm management proved challenging, especially since he had to rely on hired help while away in school.

‘The first two years were tough. I made little to no profit because I was mostly studying. But I never gave up,’ he says.

After graduation, Mr Mwenda immersed himself fully in the business. He visited established dairy goat farms across the country, learning about breeding, feeding, disease control, and farm management.

That hands-on research, he says, shaped the success he enjoys today. Today, Chamugo Dairy Goats Farm has grown into a thriving enterprise with over 100 goats, including 15 milking does and six mature breeder bucks.

Mr Mwenda has employed four full-time workers, a significant leap from when he was the sole caretaker. His feeding programme is thorough. The goats feed on dry matter such as maize stalks and dry Lucerne, complemented by fresh green fodder and nutrient-rich concentrates like dairy meal, pollard, and mineral salts.

‘I am very particular about feed rations,’ he says, adding, ‘Nutrition directly affects milk yield and breeding quality. I make sure every goat eats well, and clean water is always available.’

The results speak for themselves. Each of his milking goats produces between three and five litres of milk daily.

The income

He sells the milk at Sh150 per litre, mainly to local public and private hospitals in Tharaka Nithi, which prefer goat milk for its high digestibility and suitability for patients with allergies or dietary restrictions.

Mr Mwenda’s breeding programme has become a reliable income stream. His Toggenburg bucks are hired out for breeding services at Sh1,500 per session, while mature breeding bucks fetch over Sh70,000 each. A four-month-old kid sells for not less than Sh10,000.

The challenges

He sells about four bucks every month. ‘My customers come from all over the country – Mombasa, Kitui, Kajiado, Bungoma, even Homa Bay.’ The demand, he explains, is driven by farmers seeking hardy, high-yielding dairy goats.

Despite his success, the youthful farmer admits that dairy goat farming is not without challenges. Diseases, fluctuating feed prices, and unpredictable weather patterns are among his biggest hurdles.

‘Diseases can spread fast if hygiene and vaccination are not taken seriously,’ he warns. That is why he has invested heavily in preventive care – deworming, vaccination, and maintaining clean housing.

The rising cost of feed has forced him to innovate so that his profitability is not affected. ‘I grow some of my own fodder and store dry matter during the rainy season,’ he says.

Additionally, he practices smart reinvestment to grow his farm. “Consistency is everything. Every coin I make, I put it back into the business. That’s the only way to grow. If you give back the money to the business, it will eventually feed you,” he observes.

His Toggenburg was ranked the premium goat at this year’s Nairobi International Trade Fair, organised by the Agricultural Society of Kenya. It weighed 60 kilos.

‘You could tell it was strong and special from birth. The mother was big and healthy, and the sire was a pedigree Toggenburg. Good genetics and good care go hand in hand,’ he says. “I never imagined I could come this far,” he adds softly, glancing at his prized buck.

Kenya Power awarded contracts worth Sh3.5 billion to youth, women and persons with disabilities in the year to June 2025, marking a more than fourfold increase from the Sh614 million issued a year earlier.

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The jump comes amid sustained efforts by the government to expand opportunities under the Access to Government Procurement Opportunities (Agpo) framework.

The tendering structure, introduced in 2013, requires public entities to reserve 30 percent of their procurement budgets for the three special groups.

The Agpo framework seeks to help marginalised suppliers access State supply chains, especially in sectors such as transport services, office consumables, basic materials and general maintenance works.

Due to its national electricity network, Kenya Power is one of Kenya’s largest procuring entities, sourcing transport, repairs, logistics services and operational supplies for its transmission and distribution operations.

‘The contracts typically feature supplies for general goods such as stationery and services like cleaning, which require little financing efforts from the tender winners,’ Immaculate Karambu, senior corporate communications officer at the utility told Business Daily.

During the review period, youth-owned enterprises received Sh2.2 billion under the programme, while women-owned firms secured Sh1.25 billion and businesses run by persons with disabilities (PWDs) were awarded Sh66.7 million.

Kenya Power said it is enhancing outreach efforts targeting potential bidders, including sensitisation forums and direct engagement with groups covered under the Agpo framework across various procurement categories.

‘Last year, we were intentional in meeting and sensitising the youth, women and PWDs about procurement opportunities that exist for them within the company,’ said Dr John Ngeno, General Manager Supply Chain and Logistics.

Historically, the firm’s procurement budget has been dominated by large technical items such as transformers, meters and network equipment, limiting Agpo participation to smaller service and supply contracts that require modest capital.

Most Agpo-eligible opportunities at the utility involve the supply of consumables, providing logistics and transport support, meter installation services, minor works and other routine items that small firms can deliver without making substantial investments.

This comes at a time when small enterprises are increasingly relying on State tenders to cushion against a subdued private sector, with many facing cash flow pressures in a weak operating environment.

Kenya Power issued the Agpo allocations in a year when its net profit fell to Sh24.46 billion, marking an 18.66 percent decline from the Sh30.08 billion earned in the previous financial year.

The company declared a dividend of Sh1 per share, totalling to Sh1.95 billion, an increase of Sh585.4 million from the prior year’s total payout of Sh1.36 billion.

The higher dividend follows a period of financial restructuring and cost management within the utility, although operational pressures and constrained revenue growth continue to weigh on overall profitability.

Agpo-related procurement remains a key component of State efforts to broaden economic participation, particularly for groups historically excluded from large tenders and major public contracting opportunities.

Kenya Power’s efforts to strengthen Agpo participation are expected to continue as the utility refines its engagement with eligible groups and raises awareness of the requirements for competitive bidding.

LemFi, the financial platform built for immigrants, today announced the launch of its new Instant Access Savings Account in the United Kingdom, powered by ClearBank, the enabler of real-time clearing and embedded banking.

Launching first in the UK, its 2 million+ customers will earn daily interest on their savings monthly, directly within the LemFi app, marking a significant expansion in LemFi’s mission to build a complete financial ecosystem for the global immigrant community.

With LemFi Instant Access Savings, users can grow their money in the same app they use for international transfers to simplify their financial lives. Funds are held securely with ClearBank, a regulated UK financial institution, and eligible deposits are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS).

At launch, LemFi’s savings product offers one of the most competitive interest rates in the UK at 3.92 percent, compared to the national average of 2.27 percent for similar accounts. The rate is currently tracked to the Bank of England’s base rate, with plans to move to a variable rate in the near future, allowing LemFi to remain highly competitive for customers seeking flexibility and returns. Immigrants play a vital role in the UK economy and global financial flows. In 2023, immigrants in the UK sent more than £9.3 billion in remittances to family and friends. Despite this, many lack access to convenient, trusted savings tools that align with their unique financial behaviours and cross-border needs.

In addition, immigrants face significant and widespread issues when accessing credit and banking services more broadly. Approximately 5 million individuals in the UK are considered ‘credit invisible’, with immigrants from emerging countries disproportionately affected.

Step toward a broader financial future

LemFi’s expansion into savings is part of its roadmap to provide a full suite of financial products tailored to immigrants’ needs. This includes LemFi Credit, designed to help immigrants who traditionally struggle to access and build credit do so while also benefiting from flexible payments.

LemFi’s platform can do this by recognising international credit histories and employing alternative credit assessment methods. As well, its alternative credit scoring technology powers Send Now Pay Later (SNPL), designed to enable its customers to send money to their loved ones when they need to, and access credit safely and securely.

Since launching in private beta in August 2025, the Instant Access Savings Account has been used by over 7,000 customers, underscoring strong demand for accessible and immigrant-centred financial products.

The Ruto administration built nearly 555 more kilometres of roads than planned in the year to June after the government started clearing a backlog of contractor debts, triggering progress in projects which had stalled for years.

Data from the State Department for Roads says the country’s three road agencies completed 761.25 kilometres of roads against a target of 206.35 kilometres, exceeding the goal by 268.91 percent.

The new road network delivered by the Kenya National Highways Authority (KeNHA), Kenya Urban Roads Authority (Kura) and Kenya Rural Roads Authority (KeRRA) marked the biggest overachievement in recent years, although the target was the most modest seen in more than a decade.

The additional kilometres done in the year to June 2025, however, forms a fraction of what the country was building before the fiscal year 2022/23, underscoring President William Ruto’s major shift from heavy investments undertaken by his predecessors.

Officials in the Roads department told the National Treasury in a report that the output exceeded expectations due to release of delayed Interim Payment Certificates (IPCs) – documents which enable contractors to get payments for parts of the projects which they have finished.

The partial payments helped unlock a number of dormant projects that contractors had abandoned largely because of cash flow challenges.

‘You may have seen that contractors are back on site. In fact, you will see the contraction of the construction sector [in 2024] now start being positive in GDP,’ Treasury Principal Secretary Chris Kiptoo said on May 14 during an interview on Fixing the Nation programme on NTV.

‘In the 2015 Economic Survey [which covered performance for 2024], you will see that the sector was basically dead. Now we are reviving it,’

The increased construction of new roads coincided with reduction in pending bills for the roads, the first in five years.

The stock of unpaid invoices dropped to Sh128.36 billion at the end of June 2025 from a record Sh166.76 billion the previous year, but still signals financial stress within the road infrastructure portfolio.

‘Target for [2024/25] overachieved due to settlement of outstanding Interim Payment Certificates (IPCs),’ the Roads department wrote in the Sector Budget Proposal Report for financial year 2026/27 to the National Treasury.

Upon taking power, Dr Ruto expressed shock at Sh900 billion in commitments for the roads sector in the budget he inherited from former President Uhuru Kenyatta’s regime (for the financial year ended June 2023).

‘We have tried to cut it down; we have tried to cut some of the roads that have not started. But we still remain with about Sh680 billion that we have to manage,’ the Kenyan leader said on May 14, 2023.

Before 2022/23, the three road agencies were delivering more than 1,500 kilometres a year on average. In contrast, output plunged to 495 kilometres in 2022/23 and 542 kilometres in 2023/24, reflecting the impact of fiscal tightening, project rationalisation and swelling arrears which forced contractors to abandon sites.

The rebound to 761km last fiscal year is less than half of what Kenya built during the years leading up to the transition to the current administration in September 2022.

The data suggests that the roads sector remains far from its historical peak capacity, despite the headline overperformance.

Government arrears to contractor arrears-largely unpaid IPCs for completed works-have ballooned in the last half a decade, rising from Sh40.93 billion in 2019/20 to a record Sh166.76 billion in 2023/24.

The partial relief last financial year explains why contractors returned to sites and complete suspended works.

In a bid to tame inflation of contract costs and cut wastage of taxpayer money, Dr Ruto administration in November approved a ‘Comprehensive Framework for Infrastructure Projects Pricing’ to standardise pricing of public infrastructure projects such as roads, bridges, dams, electricity plants and transmission lines.

The framework seeks to eliminate the irregular, inconsistent, and costly practices that have characterised the pricing of government infrastructure projects,’ read a dispatch from the Cabinet following a meeting on November 11.

‘It aims to establish a data-driven system for determining infrastructure costs, ensuring accountability and prudent use of public resources.’

Kenya’s youth readiness for the job market has been brought into sharp focus by BrighterMondays’ Skills Gap and Gender Analysis Report 2025, which pointed to a skills mismatch between the skills the industry needs, and what is being taught in colleges.

This article will explore the causes and interventions to bridge the skills gap.

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Employers indicated the skills needed today are digital and ICT capabilities, sales and marketing, and basic financial competence.

Soft skills, like communication, teamwork, problem-solving, time management and work ethic, appeared more valued, often outweighing technical ability during recruitment.

More than 70 percent believe curricula are behind the market needs, over half say students lack exposure to real workplaces, nearly 56 percent point to poor career guidance, and others cite poor curriculum delivery and limited access to digital tools.

Notably, the youth access to mentorship is limited, and they demonstrate weak preparation for a work environment that increasingly demand adaptability and self-management. The result is a youth who arrives enthusiastic but often unprepared for real-world demands.

Kenya’s policy framework has taken steps to prepare the youth. Over the past decade, the country has revised its education system multiple times, moved toward competency-based learning, and launched a National Skills Development Policy and a Dual Training Policy aimed at deepening industry participation.

Yet, as the Brighter Monday data shows, these intentions have not fully translated into a predictable outcome. Attachments opportunities remain few, inconsistent in quality, some universities struggle with funding and frequent disruptions to learning, and many TVET institutions lack strong industry linkages.

Where partnerships do exist, they tend to be concentrated in a few urban centres or in sectors where donor support has already opened doors.

There are however encouraging models that show what is possible when employers, training institutions work together. The Kenya National Skills Development and Dual Training Policy and The Generation Kazi programme highlighted in the Brighter Monday report are some useful initiatives.

By blending employer input, targeted training and job linkage, it demonstrates that collaboration can produce graduates who are both technically ready and prepared for workplace dynamics.

Similar successes can be found in sectors like nursing, hospitality and manufacturing, where structured apprenticeship models have allowed learners to gain hands-on exposure while still studying.

Strengthening work-based learning, improving labour market intelligence, and fostering regular dialogue between employers and educators are emerging as practical pathways.

Employers, too, increasingly recognise that the workforce they need tomorrow must be shaped today, and that hiring ready-made talent cannot be the only strategy in a fast-disrupting labour market.

The challenge of digital inequality also pushes the conversation into new territory. The labour market is moving online, with employers relying heavily on digital platforms for recruitment and communication.

Expanding affordable digital infrastructure, strengthening community-level training hubs, and integrating career support services into counties could help bridge this divide. None of these require overhauling the system; instead, they call for coordinated, multi-stakeholder effort.

Curriculum alignment can produce meaningful results. Training institutions that regularly consult industry players, tend to adjust faster and produce graduates better prepared for work. Creating consistent channels for such engagement could gradually reduce the mismatch that employers continue to cite.

Updating modules, embedding leadership and communication skills, and refreshing assessment methods to reflect workplace realities can be undertaken progressively, without disrupting learning cycles.

Many young people navigate education choices without adequate information about emerging sectors, or about the evolving mix of technical and soft skills that employers value.

Building stronger career guidance, not as a career-day event but as an ongoing conversation can help youth make informed decisions. Better guidance does not guarantee jobs, but it can reduce misalignment and help young people choose pathways that match both their strengths and market needs.

The BrighterMonday reframes the skills conversation around what can be influenced now. Kenya’s youth population is large, ambitious and eager to work. Employers are ready to hire but need talent with practical exposure and adaptable mindsets.

Training institutions are willing to adjust but often lack current market signals. Somewhere between these three actors lies the opportunity to gradually close the gap, through collaboration and research data, consistency and shared responsibility in skilling the youth for the workplace.

The labour market is shifting quickly, and Kenya is not alone in grappling with how to keep young people relevant in an era shaped by technology and uncertain economic times.

What matters now is whether the country can translate the insights from reports like Brighter Monday’s into deliberate, sustained action.

While the youth may not be failing, the education system, and the industry players must collaborate, because the youth are navigating workplaces that evolve fast, and only employers, Human Resource Managers, and researchers can identify the industry needs, develop interventions to prepared the youth to become employable, and prepare the next generation of leaders.

The writer is a HR Strategist, Leadership and Career Coach, Pristine Management Solutions Ltd.