Category: Business Daily

Nursing colleges are expanding across the country, particularly in urban areas, offering hope to a population in need of quality healthcare.

Private health institutions, such as Nairobi Hospital, MP Shah, and Nairobi Women’s Hospital, are increasing their intake capacities and producing more nurse graduates who are ready to provide services, reducing the shortage in the health sector.

However, behind these numbers lies a stark reality. The country is still struggling to meet global benchmarks for health workforce densit

‘Kenya continues to face a shortage of nurses and midwives. Key factors identified as causing the shortage of nurses and midwives include brain drain, a poor working environment, natural attrition, a rapidly growing population, an ageing population, and emerging diseases,’ said the Nursing Council of Kenya (NCK) in their latest policy brief.

While Kenya’s nurse-to-patient ratio has increased from 8.3 to 22.7 per 10,000 people, the 2025 World Nursing Report shows that this is still below the World Health Organization’s (WHO) recommendations, an indication that, although more nurses are entering the system, the scale of production is not yet sufficient to meet the country’s healthcare needs.

The WHO recommends a minimum of 25 nurses per 10,000 people to ensure universal access to essential health services.

Data from the Economic Survey indicate that the number of graduate nurses has increased, from 4,808 in 2020 to 9,189 in 2024, a 91 percent rise over four years.

However, thousands of these professionals are leaving the country to seek better opportunities abroad, drawn by higher salaries, clearer career progression, and improved working conditions.

Even those who remain in Kenya often struggle to find employment in hospitals or clinics, leaving many qualified nurses unemployed.

Peterson Kirui, a Moi University Eldoret nursing graduate, has worked part-time for two years at a small dispensary in his home area. It was a tough struggle, but the pay was too low to provide even the bare minimum for survival, so he decided to take up research work instead.

‘I have had to look for other sectors of the economy to put food on the table. I have had to go into research,’ he said.

Mr Kirui’s situation mirrors that of thousands of nurses across the country who have qualified but cannot find employment, highlighting a growing disconnect between training and service delivery.

The cost of a three-year nursing diploma varies widely depending on the institution. At public colleges such as the Kenya Medical Training College, government-sponsored students pay about Sh240,000 for the entire course, while self-sponsored students pay around Sh359,700.

Read: Diploma nurses eye level pay with degree holders on upgrade

At private hospital-based colleges such as Nairobi Women’s Hospital, the cost is about Sh405,000 for three years, while at Nairobi Hospital Nursing College, it is around Sh603,000.

According to the NCK, around 10,000 students graduate with nursing qualifications each year, yet fewer than 3,000 find employment. The NCK also says more than 40 percent of registered nurses are either unemployed or underemployed, indicating an intensifying crisis.

‘Almost 50 percent of the difficulties in filling vacant positions relate to budgetary constraints, followed by a lack of goodwill from county governments to fill the required positions,’ said the NCK.

The implications are severe. Hospitals operate under chronic staff shortages, which is overwhelming for those on duty and means that patients have to wait for hours or go without essential care.

‘The emigration of nurses and midwives, especially those in specialised categories, has a crucial bearing on the quality of care provided in health facilities. This is a critical concern for healthcare systems at all levels as it has an immediate and long-term effect,’ said NCK.

A report by CGFNS International on nurse migration showed that, in 2024, Kenya accounted for 6.5 percent of all African applicants seeking US VisaScreen certification to work in the United States.

A 2023 report by the Ministry of Health revealed that up to 64.4 per cent of healthcare professionals had expressed a desire to emigrate.

While the government claims that this could increase remittances to the country, strengthen the foreign exchange rate, and boost the overall economy, some health officials have cautioned against the looming shortage of qualified medical personnel.

‘Labour migration is a critical component of our socio-economic development, benefiting both Kenya and the countries that welcome our workers. This is why we continue to negotiate bilateral labour agreements to facilitate safe and orderly labour migration, protecting Kenyan workers’ rights and facilitating their access to international job markets,’ said President Ruto during last year’s Labour Day celebrations.

Added NCK: ‘Emigration (92 percent) and increased patient volume (92 percent) are the main contributors to staff shortages, as is high staff turnover and retirement (88 percent).’

Recently, Kenya has seen hundreds of nurses move to the UK under bilateral agreements, while smaller numbers have sought jobs in Canada, Australia, and the Middle East.

In August 2023, 76 Kenyan nurses were sent to the UK to work under a bilateral health workforce agreement.

In April 2024, the government and Mount Kenya University sent the first group of five nurses to Germany as part of a plan to create 250,000 jobs for Kenyans.

However, rather than allowing Kenyans to seek jobs abroad, the United Nations Conference on Trade and Development has urged the government to improve pay and working conditions to discourage people from seeking employment elsewhere.

‘To stop brain drain, the government must improve working conditions and provide incentives. In the medium term, the government should enhance the attractiveness of job opportunities by improving pay and benefits,’ said the UN agency.

The High Court has ordered real estate and property management firm Lloyd Masika Limited to disclose its financial records to Stanbic Bank Kenya, escalating a debt dispute triggered by alleged inflated asset valuations.

The court granted Stanbic Bank’s application compelling Lloyd Masika to produce its books of account, audited financial statements, bank statements, title documents, and such other records relevant to the recovery of the contested debt.

The unprecedented decision comes after a public auction of the firm’s assets, which recovered less than two percent of the outstanding debt.

The legal battle traces back to February 2018, when Lloyd Masika valued three Machakos County properties (Machakos/Ndalani Phase II/461, 462, and 465) at Sh87 million open market value and Sh56.5 million forced sale value.

Relying on this valuation, Stanbic Bank advanced a Sh40 million loan to an unnamed borrower.

Trouble began when the borrower defaulted, prompting Stanbic to commission a revaluation that pegged the same properties at Sh17 million open market value and Sh13.1 million forced sale value-a huge drop from Lloyd Masika’s initial assessment.

Stanbic was aggrieved with the occasioned loss because it advanced a loan facility on the footing of Loyd Masika’s report.

The dispute was referred to arbitration, and in December 2021, the arbitrator found Lloyd Masika ‘wholly negligent in submitting false valuation reports,’ holding the firm liable for the Sh40 million loss Stanbic incurred.

The arbitrator noted the valuations fell ‘outside permissible margins of error’ and ordered Lloyd Masika, a prominent real estate firm, to pay Sh44 million, including costs.

Despite the company’s attempts to set aside the award, the High Court upheld it as binding in April 2023.

However, Stanbic’s recovery efforts hit roadblocks after Lloyd Masika defaulted on repayment, leading to a public auction that raised only Sh1.1 million, of which Sh706,335 was remitted to the bank. The lender said the debt balance remains unpaid.

It accused the company of concealing assets and sought court orders to compel directors to submit to oral examination as to the debts owing and means of satisfying the decree.

The bank hinted at plans to lift the corporate veil should evidence emerge that directors fraudulently transferred company assets to evade creditors.

Lloyd Masika’s directors opposed the application, arguing they had initiated a separate case at the High Court to enforce a Sh500 million professional indemnity insurance policy from UAP.

They insisted that this insurance policy constitutes a “chose in action” (a legal right to sue) capable of satisfying the decree and that the bank’s application for disclosure of financial books was therefore premature. The company argued that the bank’s application was intended to embarrass and blackmail the directors.

“The bank knowingly contracted us under an agreement requiring this insurance. Their application is premature and violates our constitutional property rights,” the directors stated in court filings.

However, the court dismissed Lloyd Masika’s objections, noting that the existence of an insurance claim did not exempt the firm from disclosing other financial affairs.

The court held that the insurance claim does not preclude the decree-holder from invoking Order 22, Rule 35 of the Civil Procedure, which allows decree holders to apply for the disclosures.

‘The purpose of this provision is to enable the decree-holder to obtain information on the company’s assets and financial affairs. Whether or not the insurance claim ultimately satisfies the decree is a separate question that does not foreclose discovery of other potential assets,’ ruled the court.

The ruling shows that upon furnishing the bank with the stated documents, the lender will be at liberty to apply for the cross-examination of the company directors in court, potentially leading to piercing the corporate veil-a rare move that would expose directors’ personal wealth to recovery efforts.

The preferred contractor for the Nairobi-Nakuru-Mau Summit Highway is heading into talks with the government seeking a raft of tax reliefs-including a 30-year corporate income tax exemption on toll revenues.

The consortium says the goal is to keep tolls affordable for motorists while making the project bankable for investors over the life of the concession.

A summary of the evaluation report published by the Kenya National Highways Authority (Kenha), the contracting authority, shows that the consortium of China Road and Bridge Corporation (CRBC) and the National Social Security Fund (NSSF) Trust has requested 18 tax exemptions. The government has since settled on the privately-initiated-proposal (P-i-P) for the CRBC-NSSF consortium.

Some of the tax sweeteners the bidders are looking for include relief from county cess and other levies that they argue raise the cost of delivering Sh170 billion toll road from Nairobi to Mau Summit in the Rift Valley.

However, the government has insisted that the CRBC-NSSF consortium should enter negotiations having designed the project under the existing legal tax regime.

The requested adjustments may only be considered for discussion at a later stage, and cannot be treated as pre-conditions for moving the project forward.

‘The Proponent is to proceed to the next stage subject to unequivocal and unconditional confirmation that it shall.apply the existing legal tax regime to the project,’ reads a summary brief of the project development phase documents for CRBC and NSSF. This sets a firm baseline for talks.

The CRBC-NSSF consortium has sought exemptions on virtually every tax applicable to the project, including value-added tax (VAT), corporate income tax, withholding tax and import duty-cost items they say feed into the eventual tolls that users pay.

The bidders argue that targeted reliefs would ease cash flow pressures and support faster delivery.

The group is seeking a corporate income tax holiday on toll revenues collected from motorists using the upgraded road over the 28-year concession period. They also propose that toll fees should not be subjected to the 16 percent VAT. Their view is that trimming these charges will reduce operating costs and help keep the price per kilometre in check for users.

The CRBC-led consortium has proposed a base toll of Sh8 per kilometre, adjustable to reflect inflation and exchange rate movements.

Under this approach, the toll would start at a set level and then rise modestly each year to account for the cost of money and imported inputs needed to maintain the road.

The proponent also wants VAT zero-rating for goods and services procured locally and imported for use on the project. This covers the construction of the road from Nairobi via Nakuru to Mau Summit, and the Nairobi-Maai Mahiu-Naivasha link. They further seek excise duty exemptions for imported or locally purchased vehicles above 1,500cc used on the project.

Additional requests include exemptions from import duty and the Export and Investment Promotion Levy on equipment and materials used on the road.

The consortium also proposes withholding tax exemptions on payments to non-resident expatriates during construction and operation, covering income, dividends, insurance premiums and interest on loans. They want similar relief for payments to resident contractors and agents working on the scheme.

Beyond operating taxes, the bidders want changes to the Income Tax Act to improve cash flow over the concession. They seek permission to carry forward tax losses from the project throughout the period by amending Section 15. They also want relaxation of interest deduction limits so all project-related interest can be deducted during the concession.

In addition, they propose a Capital Gains Tax exemption when the project special-purpose vehicle’s shares are transferred during the concession and again when the road is handed back to the government. This would require changes to the Eighth Schedule of the Income Tax Act.

The consortium also seeks relief on stamp duty. It wants renewal of a discontinued legal notice that granted exemptions for secured loan agreements used to fund strategic infrastructure. It further asks for renewal of Legal Notice 60 of 2016 to exempt stamp duty on the initial nominal share capital of the project company.

At the county level, the bidders want local levies and cess to be waivable under existing law. They point to the Public Finance Management Act, 2012 and county Finance Acts, which allow County Executive Committee Members for Finance to waive or vary county taxes, fees and charges under set criteria and proper documentation.

Taken together, the bidders say these measures would lower financing and transaction costs, ultimately helping to keep toll fees affordable for motorists.

The government, however, faces tight fiscal constraints and is likely to be cautious about granting extensive concessions when public finances are strained.

A massive nine out of every 10 of the Sh65 billion unclaimed assets, including cash shares and dividends, are worth below Sh1,000, piling pressure on the Unclaimed Financial Assets Authority (UFAA) to lower the cost of reunifying the properties with their owners.

Auditor-General Nancy Gathungu revealed that 17.7 million of the 20 million idle assets in the books of UFAA, or 88.5 percent as of the financial year ended June 2024, are worth sums below Sh1,000.

Cash sums below Sh100 formed the bulk of the idle asset records forwarded to the UFAA, with 61.5 percent or 12,318,000 falling under this category.

The Auditor-General said that holders of small amounts were forced to incur high costs, such as travel expenses and certification fees, when claiming the money from the agency. This resulted in most of them forgoing the money.

All claimants are required to present claim forms duly commissioned along with certified copies of the national identity card and the Kenya Revenue Authority PIN certificate. The cost of certifying the documents is an average of Sh500.

Claimants are also required to physically visit the office of the unclaimed asset holder to obtain an official letter, increasing the time and cost involved in lodging the claims.

‘Due to the non-differentiated nature of the claim process, apparent owners of unclaimed financial assets that were relatively low in value incurred the same cost as high-value claimants. Consequently, fewer claims were lodged, leading to a low reunification rate,’ reads the report by the Auditor-General.

The National Treasury was cited for failing to implement proposals by UFAA to simplify the claims process. The agency had proposed the use of a single standardised form to be signed by the claimant without certification by a judicial officer or legal practitioner. The small amounts accumulated to form a huge sum, with the authority previously disclosing that assets worth less than Sh5,000 totalled Sh43 billion.

These small amounts have been attributed to people forgetting their bank accounts, ignorance, relocation, and death.

Mobile money has also been cited for the small records, as dormant accounts are passed on to new users.

On the upper side, 2,000 records worth between Sh500,000 and Sh750,000 were submitted to the authority. Records worth more than Sh100,000 but below Sh500,000 were 22,000.

The auditor general urged UFAA to make use of Huduma Centres to decentralise its services and increase the rate of reunification with rightful owners of assets.

‘The audit established that the authority intended to deploy their staff in the Huduma Centres, although they had yet to recruit the required staff. This contributed to the low number of claims lodged and ultimately the low reunification rate,’ said Ms Gathungu.

As of August 2024, the authority had received Sh65 billion from holders of unclaimed assets, with four percent of the assets reunified with their rightful owners.

Assets are considered unclaimed if they are dormant for a long period. The period differs between asset classes; for example, dormant bank accounts become unclaimed after five years, while utility deposits such as water and electricity are marked unclaimed two years from the date service is terminated.

The Kenya Ports Authority (KPA) faces pressure ahead of the peak activity at the Mombasa port, coinciding with the December festivities.

Traders and shippers are cautioning of potential delays and congestion if the port agency fails to streamline operations to manage the anticipated high volume of cargo.

The number of vessels scheduled to dock in Mombasa is much higher compared to previous years.’

The port is braced for record vessel traffic in the next few weeks as traders rush to stock up ahead of the December festivities.

More than 50 vessels are expected to dock at the Mombasa port in the coming 14 days, including 34 container ships, 11 conventional cargo carriers, four car carriers, and two oil tankers.

The port traditionally records peak traffic in November, following a buildup in activity from late July into October as traders stepped up shipment of stocks in readiness for the Christmas period.

A latest Central Bank of Kenya survey of more than 1,000 private sector CEOs confirmed projections of heightened business activity ahead of December.

The survey shows private sector firms plan to raise the number of full-time employees in the final quarter of the year to support heightened activity anticipated during the festive period.

The CEOs expect improved business activity in the fourth quarter, relative to the third, with higher demand orders, sales, production volumes, and employment levels projected as consumer spending rises.

The Mombasa port handled 32.86 million tonnes of cargo throughput between January and September 2025, compared to 29.97 million during the same period last year, marking a 9.6 percent growth.

In the latest data, the port registered 1.55 million twenty-foot equivalent units (TEUs) between January and September 2025 compared to 1.46 million TEUs in 2024.

The increase represents a growth of 91,000 Teus, equivalent to 6.2 percent.

KPA Managing Director, William Ruto, said the agency has invested in equipment and technology to boost efficiency at the port.

‘Over the past year, the port has invested heavily in modern handling equipment and technology to boost throughput. Last month, we brought ten Rubber-Tyred Gantry (RTG) to improve efficiency and are part of the authority’s equipment modernisation programme, with the new cranes expected to ease rising cargo pressure at the port,’ he said.

KPA two weeks ago offered a significant amnesty on port storage charges for long-stay containers at the Mombasa port ahead of the peak season.

The agency offered an 80 percent waiver on the accrued storage fees as one of the strategies to ease pressure on the port. The amnesty runs until November 6, 2025. Any cargo not cleared by the deadline would be transferred to the Naivasha Inland Container Depot (ICD).

‘This measure is expected to improve port efficiency by clearing up space currently occupied by aged cargo. We intend to expedite the clearance of cargo by offering 80 percent amnesty on accrued storage fees,’ Mr Ruto said in an October 15, 2025, notice.

KPA said the waiver applies to long-stay containers that have been at the port of Mombasa for more than 21 days from the date of the notice, and those affected cargo owners must lodge a waiver application to be considered for the reduction.

While offering the amnesty, the KPA issued a firm warning regarding uncleared transit containers, saying that all long-stay transit containers that are not cleared within the notice period will be transferred to the Naivasha ICD.

‘This transfer will be at the owner’s cost. Furthermore, these containers shall attract normal storage charges from the date the container landed in Mombasa,’ Mr Ruto said.

Mary Claudio Trevisan’s journey to dual citizenship began with the 2010 constitutional shift.

After Kenya’s 2010 Constitution lifted restrictions on dual nationality, she seized the opportunity to reclaim her Italian roots flowing through her paternal grandfather’s Kenyan-Italian bloodline.

‘I’m Kenyan, born and raised here, but my paternal grandfather was half Kenyan, half Italian. After the 2010 Constitution was passed, I applied for an Italian passport. It took three years to come through.

Whether it could have been faster, I’ll never know,’ she tells the BDLife.

The mother of three, aged 15, 13, and 11, is now stepping up and taking the next necessary steps to secure a second residency for herself and the children.

She is part of a growing wave of affluent Kenyans exploring second residencies and citizenships, particularly in Italy.

In 2017, Italy introduced the Italian Golden Visa, a residence-by-investment programme designed to attract foreign capital by offering residency in exchange for strategic investments.

By investing in Italy’s economy, one earns the right to live, work, and study in the Mediterranean nation. The programme grants a two-year visa, renewable for an additional three years, provided the investment is maintained.

Holders may later apply for permanent residency once they meet the long-term stay requirements of 10 years. The scheme has quickly blossomed into a lifeline for wealthy Africans seeking global mobility.

Orience, a global investment migration firm operating in Africa from its South African base, tells the BDLife the scheme has been gaining traction in recent years among Africa’s ultra-high (UHNWI) and high-net-worth individuals (HNWI), with South Africans and Kenyans emerging as the continent’s most enthusiastic applicants over the past two years.

‘Residency-by-investment programmes such as Portugal’s Golden Visa or the US’s EB-5 programme, China, and India are always at the top, but among African countries, South Africa leads, followed by Kenya. Kenya’s numbers are still much lower than South Africa’s, but they’re growing quickly’ notes Lisa Bathurst-Orience’s Southern Africa Manager.

She notes, ‘The Kenyan number wouldn’t be anywhere near 60 percent; it’s a very small fraction as these programmes require a high level of wealth, so you’re really looking at the top five percent or so.’

Luxury Property firm Knight Frank classifies UHNWIs as persons with a net worth of above $30 million (Sh4 billion), while those whose net worth is at least $1 million (Sh128 million) are classified as HNWIs.

Kenya has a substantial HNWIs base of approximately 6,800 individuals compared to South Africa’s 41,000 as of August this year, according to The Africa Wealth Report 2025 compiled by Henley and Partners.

Initially, when the Italian Golden Visa launched, applicants were required to invest at least pound 500,000 (Sh75 million) to qualify.

However, in recent years, the enquiries and applications have surged when Italy slashed the minimum investment threshold to pound 250,000 (Sh38 million). With this, one can invest in stocks or shares of an Italian innovative startup.

Other investment levels are pound 500,000 in an active Italian company, pound 1 million (Sh150 million) as a philanthropic donation to a project of public interest in culture, education, immigration management, scientific research, or heritage preservation. The highest investment threshold is pound 2 million (Sh300 million) in government bonds.

When the Italian government lowered the entry investment, that move triggered an avalanche of inquiries from South African and Kenyan elites, according to Orience.

“I’ve never pursued a second residency for my children before, but with this opportunity, the timing feels right. I see this opportunity as giving them a chance to integrate, learn the language and culture, and study in Italy. Personally, I don’t speak Italian, it’s also an opportunity to invest there. The process now feels much more plug-and-play compared to when I applied in 2010 and had to wait until 2013 for approval.’

Since obtaining her Italian passport, Trevisan says one of the biggest perks has been the freedom to travel, and she believes an opportunity to secure a residency would benefit her even more.

‘ I barely remember the last time I applied for a visa to the US or Europe. An Italian Visa allows you visa-free access to about 20 European countries, and having once studied in the UK, I know just how frustrating visa applications can be, especially to European countries.’

Orience, which also offers its financial consultancy services for high-net-worth clients in other attractive residency markets such as Greece, Spain, and Portugal, says that, whereas these markets also offer very mouthwatering deals, it has been impossible to ignore the rising interest demand for the Italian Golden Visa by South Africans, Kenyans, and Namibians.

‘Italy’s Investor Visa or Golden Visa is fast becoming one of the most cost-effective and flexible residency routes for Africans seeking opportunities in Europe, and I see a few reasons for that. Initially requiring a minimum investment of pound 500,000, the threshold has since been lowered to pound 250,000 through an innovative real estate company accredited by the Italian government. Adding to its modern appeal, investors also now have the option to transact using cryptocurrency,’ says Lisa Bathurst-Orience, Southern Africa Manager.

Ms Bathurst adds that the processing times of Italy’s Golden Visa are also considerably faster, often taking three to four months compared to for instance, Portugal, which can extend over 12 to 18 months or even longer.

But that’s not all.

Italy also imposes no strict minimum stay requirement, whereas Portugal’s Golden Visa typically demands about seven days per year.

‘This scheme unlocks mobility across the 26 countries of the Schengen zone, education in top-ranked EU schools and universities, and Italian healthcare access ranked as one of the world’s best, and family inclusion – spouse and children under 18 and citizenship in 10 years with minimal presence of one day per year required,’ she goes on.

To further incentivise, the programme processing of Italian Golden Visa takes 60 days.

‘You’re approved for the visa before transferring any funds, which makes it low-risk. Investing in this Visa also comes with very attractive and favourable tax incentives and an assured three percent return on investments in government bonds.’ Ms Bathurst adds.

For citizenship paths, Italy requires 10 years of residency before naturalisation, matching Spain, while Portugal currently allows citizenship after five years, though proposed reforms may extend this period, Ms Bathurst adds.

Healthcare and education access

Once residency is established, it guarantees the investor access to essential public services, though a few distinctions remain between residents and full citizens.

Golden Visa holders are also eligible to register with Italy’s national healthcare system, the Servizio Sanitario Nazionale (SSN).

The SSN covers most essential medical services, with only modest co-payments required for certain treatments or prescriptions.

Compared to private healthcare, these costs are significantly lower, making public care an attractive option for most Italian residents.

Besides health care, without needing to relocate, the residency also offers access to European universities at local tuition rates.

Closure of Spain Golden Visa

The discontinuation of the Spanish Golden Visa in April this year has also contributed to the rise in enquiries and applications for the Italian Golden Visa.

Since its launch in 2013, before its suspension, the Spanish Golden Visa had been one of the most sought-after second residency programmes among African high-net-worth individuals.

The Spanish Golden Visas allowed individuals to make investments with an entry investment of Sh75 million in Spanish real estate businesses.

But visa holders were not obliged to live, work, or study in Spain, even though they had purchased the right to do so, meaning they could just as easily use properties as personal holiday homes or to rent out to tourists.

However, in 2024, the government announced it was stopping the programme this year to address the rising property prices and help ease Spain’s housing shortage, which could reach a deficit of 600,000 homes in 2025.

Venice, the new frontier

Such a geopolitical situation pushed investors to look for other options, and Ms Bathurst says the floating city of Venice is emerging as one of the most eye-catching Italian cities for wealthy Africans.

‘Beyond its rich cultural history and romance, Venice has become one of the most compelling strategic investment opportunities in Europe, especially for African families seeking residency through real estate.

‘The investments are in pre-existing hotels across Italy, such as the historic Garibaldi Hotel in Venice, now being refurbished under the luxury Soho Hotel Group. Because it isn’t a timeshare or faceless equity fund giving assurance of real ownership in hotels in one of the world’s most visited cities, it’s easy to see why there is a huge demand from Africa. The bricks and mortar boutique hotel is also just good business as Venice is in huge demand as a tourist destination and hence demand for hotel rooms consistently outpaces supply,’ she says.

Ms Bathurst also observes that the majority of these wealthy Africans are not looking to leave their home countries but have an investment tool that can earn them money in foreign currencies, which translates into good returns when reinvested in Africa.

‘The appeal isn’t really about whether Africans personally like Venice. You don’t even have to live in Italy to qualify for residency. But Venice is one of the world’s most popular tourist destinations, so investing in hotels or property there is secure and potentially very profitable. You can make money without ever setting foot in the country and still gain European residency. Its for these reason that the wealthy are increasingly investing abroad because these programmes allow them to diversify into strong currencies. The Kenyan shilling has been depreciating, which means local wealth is losing value. Investing in euros, pounds, or dollars acts as a hedge.’

Ms Bathurst further adds: ‘Also, Kenyans love tangible investments, especially real estate, bricks and mortar. So, these programmes appeal culturally, too. You can buy into property or a company that invests in property, and in return, you get more than just an investment so you gain lifestyle and tax benefits. For example, as a resident, you no longer have to worry about visa restrictions. There are also tax efficiencies if you move part of your business structure abroad.’

For the super wealthy Africans seeking even greater mobility, Ms Bathurst says they strongly advocate for Caribbean citizenships such as St. Kitts and Nevis, where a $250,000-$300,000 (Sh32 million – Sh40 million) investment grants a passport within five months, providing visa-free access to 168 countries.

Another option for those seeking even greater mobility is the US EB-5 Green Card.

‘We had a client, a Kenyan energy entrepreneur, who chose the US EB-5 Green Card route. By investing $800,000 (Sh103 million) in a US property project, he secured green cards for his family, saved significantly on his children’s university tuition, and gained permanent business access to the US market.’

Frank Marangu Ireri, who steered Housing Finance (now HF Group) through one of the most consequential transitions in Kenya’s banking sector, has died of cancer in Nairobi at the age of 63.

His passing on Sunday, October 26, marks the end of a chapter for a leader who believed that finance should bring Kenyans closer to home ownership-and who carried the weight of the sector’s upheavals with quiet determination.

Appointed managing director of Housing Finance in 2006, Ireri set out to move the mortgage specialist beyond its narrow niche. He diversified lending, backed bold funding initiatives-including corporate bonds-and in 2014 helped recast the lender into HF Group, a holding structure designed to transform it into a full-service bank.

That ambition unfolded during a decade of rapid innovation and fierce competition in Kenya’s financial sector, and for a time, HF punched above its weight.

His later role as a non-executive director at Centum Real Estate reflected his enduring interest in property and affordable housing.

‘We are deeply saddened by the passing of Mr Frank Marangu Ireri, a respected member of the Centum Real Estate Board,’ Centum Real Estate said in a statement.

‘His leadership, kindness, and steady presence left an enduring impact on all of us,’ the firm added.

The tide turned after 2015. A cooling property market and the interest rate cap squeezed margins, and by 2017, HF’s profit had fallen to Sh126 million from Sh905.8 million a year earlier. Disclosures that Ireri earned Sh64.4 million that year – about half of the net profit – sparked debate over executive pay at struggling lenders, contrasting sharply with his reputation for prudence.

The institution also grappled with legacy credit issues. In litigation reported at the time, former insiders alleged that HF had under-reported bad loans, while market coverage highlighted the dispute’s impact on investor confidence.

Ireri denied any wrongdoing, but the claims added to the headwinds facing the lender.

In 2018, with about six months left on his contract, Ireri took medical leave for specialised treatment. HF later confirmed that he would retire in March 2019 after 13 years, handing over to incoming chief executive Robert Kibaara.

Although he stepped back from day-to-day management, he remained close to the industry through board service.

Colleagues remember Ireri as exacting on process and governance, and as a leader who viewed banking as a public-minded craft-one that should deploy capital responsibly, manage risk wisely, and open doors to home ownership.

He leaves behind his wife Angie and daughters Lian Waithera and Ella Gathoni.

The Kenya Reinsurance Corporation (Kenya Re) board suspended managing director Hillary Wachinga for about two months over allegations that he had unprocedurally dismissed two employees, setting off a disciplinary process that later spilt into court.

The controversy is detailed in an Employment and Labour Relations Court ruling delivered last Thursday, in which Dr Wachinga’s case against Kenya Re was formally withdrawn following his own notice to terminate proceedings.

The withdrawal of the court case effectively ended the court battle. Sources told this publication that Dr Wachinga would be back in office next week amid a growing delicate balance between board oversight and independence of the management among State-controlled firms.

Dr Wachinga had moved to court on September 22, 2025, accusing Kenya Re of violating his constitutional rights through a disciplinary process that he said was ‘in bad faith’ and risked violating his rights to ‘fair hearing, fair labour practices and fair administrative action.’

In his court filings, Dr Wachinga argued that he had received two letters – a suspension letter dated September 2, 2025 and a show-cause letter dated September 3, 2025 – which he described as contradictory.

Dr Wachinga told the court that one letter indicated that investigations were to be carried out, while the other initiated disciplinary proceedings against him.

He claimed that the disciplinary process did not conform to the reinsurer’s human resources policies, given that he had not been given access to the investigation report and had been summoned to a disciplinary hearing before he could adequately respond.

Kenya Re is 60 percent owned by the government.

On those grounds, Dr Wachinga sought a temporary injunction restraining Kenya Re from proceeding with the intended disciplinary hearing against him or ‘interfering in any way’ with his continued employment. The disciplinary hearing had been scheduled for September 23.

Kenya Re’s response

Kenya Re’s replying affidavit filed on October 6, 2025, alleged that Mr Wachinga had been suspended for overstepping his authority in the handling of a disciplinary matter involving two of the reinsurer’s staff.

According to the affidavit, the issue began in April 2025, when a report by Dr Wachinga led to the commencement of disciplinary proceedings against two employees.

Court papers show Kenya Re board then tasked the CEO to ‘conduct investigations and report to the board within 72 hours but failed to do so.’

Dr Wachinga was reminded on August 1 to continue with the investigations and report back.

‘[Instead], the claimant (Dr Wachinga) made a recommendation to terminate the two employees before they had responded. The claimant gave instructions for the termination of the two employees’ contracts without involving the board,’ reads the court papers.

The company told the court it was those actions that prompted the board to initiate disciplinary action against Dr Wachinga on September 2, 2025, for ‘not complying with its instructions.’

Dr Wachinga had been invited to a disciplinary hearing slated for September 23, 2025. However, the session did not proceed after the court issued a temporary freeze following Dr Wachinga’s application.

Court records show that both parties filed submissions – Dr Wachinga on September 24 and the reinsurer on October 6.

The case was scheduled for a ruling on October 23, after a mention hearing on October 7. However, before the court could pronounce itself on whether the disciplinary process should proceed, Dr Wachinga filed a notice to withdraw the entire case.

‘In light of the notice of withdrawal dated and filed in court on 8 October 2025, the court marks the cause as withdrawn,’ reads the ruling dated October 23, 2025.

How to Build a Library was the first film that opened the Nairobi Film Festival, and in my review, I talked about how much I enjoyed it, especially specific segments where the archived colonial period photographs came out. As much as I enjoyed the show overall, those were some of the most memorable moments of that documentary.

A few weeks later, still at the same festival, I got to see another documentary, and funny enough, what I loved about How to Build a Library was turned up to 11 here. The film I’m talking about is Memories of Love Returned.

A photo studio owned by Kibaate

Memories of Love Returned is a 2024 documentary made in Uganda and the US by director, writer, actor, and narrator Ntare Guma Mbaho Mwine. Executive producers include Steven Soderbergh and others. The story begins on April 24, 2002, when Ntare’s car breaks down in the small Ugandan town of Mbirizi.

While waiting for repairs, he wanders into a photo studio owned by Kibaate Aloysius Ssalongo, a local photographer whose work spanned from the late 1950s until his death in 2006.

That chance encounter becomes a 22-year journey of documenting Kibaate’s massive archive, staging a public exhibition in his hometown, and reconnecting photographed subjects with their long-lost images.

It’s fascinating how this film turns something as ordinary as a photo studio in rural Uganda into a time machine, a window into memories, love, and time.

Yes, it’s a documentary about the power of photography, but it’s really about the human stories that live inside those photographs. The film takes one of the most universal parts of our lives, time, and makes something very special out of it.

Friendship

From the very first 10 minutes, I knew what I was in for. Memories of Love Returned is the kind of documentary that could only be made by a creative person, someone who sees beauty in everyday obscure things.

This is a story about friendship, about two men brought together by a shared curiosity and love for photography. It’s about an unlikely bond formed in the most random way, a broken car leading to a lifelong creative connection.

Kibaate’s story could have easily remained unknown, buried in the countryside of Uganda, but through Ntare’s eyes, it becomes a love letter to photography and to the forgotten artists who quietly shape the visual memory of a small town.

I loved how the documentary explores their relationship, how Ntare takes what Kibaate created and builds something larger around it. He transforms these still images into an experience for the people who once stood in front of Kibaate’s lens. Watching those same people rediscover their youth through restored photos is haunting and beautiful at the same time.

Photography has a way of reminding us that life is fleeting. It’s all fading, all slipping away, youth, health, even memory. But photographs let us hold on to small pockets of time.

The film makes you sit with that idea, that bittersweet truth that nothing lasts forever, and that maybe that’s what makes it all worth remembering.

Authenticity

What makes Memories of Love Returned so authentic is how it refuses to sensationalise or dramatise what it captures. Everything feels real, and raw, very funny at times. I mean Kibaate was a very colourful character.

You see it in the old footage and photos, the changing aspect ratios, the grainy images and locations that transport you back decades. There’s no filter between you and the story. The editing style feels intentional but never showy. It just lets the story breathe.

Ntare also allows himself to get personal. He opens up about his family, his struggles, and his creative drive, making you feel the story through his own evolution as both filmmaker and human being.

You see him grow through time, stumble through hardship, and still find joy in creation.

The sound design and music choices are very good. At first, the music feels like your standard African documentary score, what you might expect from an outsider’s idea of African rhythm.

But as the story deepens, the music evolves. It becomes part of the emotional journey, carrying us through different eras. Combined with the sound design, it makes the transitions between past and present seamless and often emotional.

Visually, the documentary is stunning. You move from the sweeping landscapes of Uganda to more grounded, intimate shots of ordinary life. Those wide, open spaces contrast beautifully with the tight, concrete frames when at one moment we cut to the West. I thought it was a clever visual metaphor, freedom versus confinement.

The use of aerial shots and close-ups works beautifully with the theme. The structure also mirrors how memory works , you move through time, sometimes clearly, sometimes suddenly, but always tied down to meaning. One moment you’re in the 1990s, the next you’re watching someone from one of those photos reflect on who they’ve become.

And some scenes, when an old photograph is placed beside its subject decades later, are some of the film’s most powerful moments. Seeing time written on their faces hits differently. It’s emotional, not in a manipulative way, but in a deeply human one.

Gripes

Now, while I loved most of it, there were things that didn’t sit as well. The documentary sometimes takes on too many themes at once, family, legacy, loss, identity, even politics , and in trying to give space to all of them, it occasionally loses focus.

There’s also a brief section touching on LGBTQ representation in old photographs that feels disconnected from the main thread. Unlike everything else that was given present context, during this section they just show pictures of men and women together in a shot and loosely imply their sexuality with no present context.

These people could have easily been platonic friends. It’s not that the subject isn’t important; it just isn’t integrated smoothly into the central story about Kibaate, his family, and the restoration of his archive. It feels tacked on, an afterthought, like something that has to be there to align with a narrative or get funding. You could cut out that section and it would have zero implication on the story.

I also thought the small bits on politics were unnecessary considering the strength of what they already had.

There are also lingering questions that the documentary doesn’t quite answer. What happened to the studio? What about Kibaate’s family? The ending, while beautiful and very creative, feels more like a pause than a finish line.

I also thought more time should have been dedicated to the image restoration process for photography enthusiast.

Conclusion

Still, none of that takes away from how deeply moving the experience is. Memories of Love Returned is a film about time, friendship, and creative purpose. It’s about how a simple act, a photograph, can echo through decades, bringing joy to people in the most unexpected ways. It’s haunting in its truth but joyful in its rediscovery.

Through Ntare’s creative vision and Kibaate’s timeless work, this documentary becomes a heartfelt celebration of memory and art. It’s raw, sincere, and full of heart. If you ever come across it, take the time to watch. It’s one of those films that quietly stays with you.

Illicit trade not only possess health and environmental challenges to consumers but also denies the government the much needed revenue for financing its budget.

In some cases, restricted or prohibited goods are smuggled through the borders; such goods may consist of banned drugs or narcotics, weapons or even dangerous chemicals that can be misused for manufacture of chemical/biological weapons.

With increasing global threats in public health, safety and security caused by illicit trade, Kenya Revenue Authority (KRA) has also enhanced its capacity to detect such goods through investments in modern scanning and laboratory technology.

In this regard, KRA has a fully-equipped ISO 17025 certified Inspection and Testing Centre (I and TC) that handles a wide range of testing for customs and excise, environmental protection, and public safety.

When detected and intercepted, goods suspected to be restricted or prohibited undergo chemical analysis to ascertain their true identity and chemical composition within the shortest turnaround time possible.

The I and TC is a fully accredited testing laboratory mandated to conduct scientific examination in support of revenue and enforcement functions for the Authority.

The key areas of expertise typically revolve around various scientific and technical fields in tariff classifications of trade goods and to ensure compliance with national regulations and international trade standards, especially compliance with multilateral conventions (Montreal, Stockholm, Basel, Rotterdam, Minamata and Chemical Weapons Convention) by providing annual reports to national authorities.

The centre conducts chemical tests on various goods such as industrial chemicals, food products and raw material to establish their composition for the purpose of customs and tax compliance and regulations.

The centre specialises in food, alcohol and drug testing, material and product testing, for example, metals, polymers, oils, textiles and fertilisers.

The centre continually researches new testing methods and innovations to keep up with global scientific advancements and improve testing accuracy and efficiency.

KRA’s I and TC has therefore been instrumental in protection of public health, safety and security by identifying potential risks, hazards or threats associated with such goods, it also supports revenue collection by examining the properties, components and market value of the goods to determine their customs value. This also ensures fair and transparent trade practices.