Category: Business Daily

As a panelist at a high-level forum in Washington, DC, and looking out at over 600 delegates representing at least 50 nations, it became clear that the global energy paradigm has shifted greatly.

It was the official launch of the Atomic Technologies Licensed for Applications at Sea (ATLAS) initiative in the last week of August – a framework spearheaded by the International Atomic Energy Agency (IAEA) and the US government.

As the Head of Delegation for Kenya, my presence was not merely to observe, but to anchor Africa’s voice in a revolution that will redefine global trade, infrastructure and wealth. The maritime sector, which carries roughly 80 percent of goods, has been bound to fossil fuels for decades.

Advanced engineering, particularly the evolution of small modular reactors and floating nuclear power plants (FNPPs), is breathing new life into civilian shipping and offshore energy infrastructure. This is the manifestation of the ‘Atoms for Peace’ initiative in the 21st century. It is the transition of nuclear power from a tool of geopolitical deterrence to an instrument of economic liberation.

A highlight of the ATLAS forum was the tour of the NS Savannah, the world’s first nuclear-powered merchant ship. Launched decades ago under the US ‘Atoms for Peace’ programme, the NS Savannah proves that a civilian vessel can achieve high-speed transport over incredible distances without refuelling.

For developing coastal economies like Kenya, the maritime nuclear frontier is an economic possibility. IAEA Director-General Rafael Mariano Grossi and US Energy Secretary Chris Wright opened the ministerial forum with a vision that speaks to the developing world.

Grossi stressed that connecting the nuclear and maritime domains is the most critical step towards globally standardising clean propulsion. He said advanced atomic technology must not remain the luxury of wealthy nations.

‘Nuclear technology is the great equaliser. By standardising safety and regulatory frameworks through ATLAS, we ensure smaller, coastal states can access the high-density energy required to power industrial trade networks without inheriting the carbon baggage of the past,’ he said.

Wright highlighted the role of global partnership in driving down the cost barriers of technology. He said the US is committed to deepening partnerships for the safe, secure and peaceful deployment of atomic solutions at sea.

‘True energy security requires scale, and scale means building bridges that allow emerging economies to leapfrog obsolete technologies straight into the nuclear age,’ he said.

However, the road to maritime nuclear deployment is not without hurdles. The meeting tackled the legal, regulatory and policy challenges that have stalled civilian maritime nuclear adoption.

First, nuclear applications at sea will require harmonisation of international standards. This will involve creating a unified safety framework so that a nuclear-powered vessel or a floating power barge can seamlessly enter international waters and ports under clear, predictable maritime classifications.

Next for consideration is security and safeguards. This will involve ensuring standard life-cycles for advanced fuels, robust tracking and non-proliferation protocols that protect mobile reactors to guarantee that the technology does not fall into wrong hands.

Finally, there is an immediate need of establishing clear, transparent public infrastructure strategies for spent fuel cycle management to foster global public confidence. This is often highlighted by opponents of the nuclear power.

Kenya is on a vital maritime gateway. Through the Nuclear Power and Energy Agency (NuPEA), we are laying the institutional, legislative and technical foundation for a land-based nuclear power plant – the 2,000MW plant proposed for groundbreaking in Siaya next year. With ATLAS, there are opportunities for harnessing nuclear technology for economic exploitation of the sea.

Imagine a future where FNPPs can be towed to remote coastal areas or industrial hubs, delivering electricity and thermal energy for large-scale desalination, processing plants and manufacturing hubs. Imagine Kenyan ports equipped to service high-speed, zero-emission atomic cargo ships, making our logistics networks the fastest and most reliable in Africa.

This is a call to Africa and our government. Our continent has been constrained by energy poverty, relying on unstable grids and expensive fossil fuel imports.

Nuclear technology is no longer an optional alternative but the pillar of modern industrialisation.

We must shed old anxieties and embrace the atomic age. By participating in global frameworks, Africa can claim its seat at the table, lift millions out of poverty and drive an industrial revolution fuelled by clean, unstoppable energy.

The dawn of maritime nuclear technology is here, and Kenya is ready to lead the charge.

As the cost of living continues to influence household budgets, investors need to look beyond the headline return on their savings and ask a more important question: is my money growing fast enough to preserve and build my purchasing power over time?

Kenya’s annual inflation rate edged up to 6.5 per cent in July 2026 from 6.4 per cent in June, according to Liberty Life’s latest investment market review. While inflation remained within the Central Bank of Kenya’s target range of 2.5 to 7.5 per cent, continued pressure from food and fuel prices means that consumers cannot afford to overlook the impact of rising prices on their long-term financial plans.

For an investor, this highlights an important distinction between earning a return and growing wealth in real terms. An investment can generate a positive return, but the more meaningful question is whether that return is sufficient to preserve purchasing power after accounting for inflation and applicable investment costs.

The latest performance figures demonstrate why investors should understand the strategy behind their investments rather than focus solely on a single headline number.

Liberty Life’s Boresha Maisha Umbrella Fund recorded a 13.87 per cent gross year-to-date return in its aggressive portfolio to July, compared with 12.53 per cent for the Balanced portfolio and 9.64 per cent for the conservative portfolio. Its cash portfolio recorded a 5.24 per cent gross year-to-date return.

These differences do not necessarily indicate that one portfolio is universally better than another. They demonstrate the relationship between investment strategy, risk and potential return.

An investor with a long-term horizon and greater tolerance for market fluctuations may be better positioned to consider a growth-oriented strategy, while someone approaching a financial goal may place greater emphasis on stability and capital preservation. The appropriate approach ultimately depends on an individual’s objectives, investment horizon and risk tolerance.

Market conditions also reinforce the importance of diversification. The equities market performed strongly in July, with the NASI gaining 6.1 per cent and the NSE 20 gaining 9.0 per cent, taking their year-to-date gains to 27.5 per cent and 30.3 per cent respectively. This positive equity performance supported returns in aggressive and balanced portfolios.

At the same time, the fixed-income market remained relatively stable, although yields on government securities edged higher amid inflationary pressures and continued government borrowing. The 91-day and 364-day government securities increased to 8.8 per cent and 9.1 per cent, respectively, during the month.

For investors, the lesson is not to move money every time one asset class performs strongly. Markets move in cycles, and different asset classes can play different roles within a well-considered investment strategy.

Instead, investors should regularly ask three questions.

First, what am I investing for? A short-term financial objective requires a different approach from a retirement goal that may be decades away.

Second, how much risk can I comfortably accommodate? Higher potential returns can come with greater fluctuations, while more conservative strategies may prioritise stability.

Third, is my investment strategy still aligned to my circumstances? Changes in income, family responsibilities, financial goals or proximity to retirement may require an investor to reassess their approach.

The current market environment therefore presents an opportunity for Kenyans to shift the conversation from simply asking, ‘What return did I earn?’ to asking, ‘Is my investment strategy helping me achieve my financial goals?’

Investment performance should always be considered in context, including the underlying investment strategy, prevailing market conditions, investment horizon, inflation and applicable fees. Liberty Life’s reported investment returns are gross of product-related fees, with net income credited to clients’ accounts after applicable fees.

Ultimately, successful investing is less about chasing the highest return at any particular point in time and more about having a disciplined strategy that is appropriate for one’s goals, maintaining a sufficiently long-term perspective and reviewing that strategy as circumstances change.

The goal is not simply to make money. It is to ensure that your money continues to work towards the life you want to build.

The past two weeks in Ulaanbaatar, Mongolia, have brought climate, land and biodiversity issues close to the business agenda, as governments, investors and companies gathered for the UN Convention to Combat Desertification (UNCCD) COP17.

The meeting, which ran from August 17 to 28, also provided a glimpse of what the 2026 ‘triple COP’ year could mean for companies as environmental negotiations move from land to biodiversity and finally climate.

Kenya participated in discussions on drought resilience, land restoration and financing. For Kenya, the issues negotiated in Ulaanbaatar touched agriculture, livestock, tourism, water, infrastructure and finance.

The UN Convention to Combat Desertification (UNCCD) estimates that land degradation, desertification and drought cost the global economy $878 billion annually. Up to 40 percent of the world’s land is degraded.

For businesses, the biggest shift is the growing importance of environmental data. A bank financing agriculture needs to know how drought could affect a farmer’s ability to settle a loan. An insurer needs information on exposure to floods and drought.

Kenya is putting some of this infrastructure in place. In April 2025, the CBK issued the Kenya Green Finance Taxonomy and Climate Risk Disclosure Framework for banking. The taxonomy is designed to help financial institutions assess whether economic activities support climate objectives, while the disclosure framework seeks to make climate-related information more consistent and comparable for investors and other users.

That means the data discussed in Ulaanbaatar is increasingly becoming relevant to decisions being made in Kenyan boardrooms and banks. The quality of information on drought, water stress, land degradation and climate exposure will increasingly influence how capital is allocated and how financial risks are assessed.

That was visible at COP17, where the UNCCD’s Business4Land platform pushed for better information on land and soil health to help companies and investors make decisions.

The financing gap is also important. UNCCD says about $355 billion is needed annually between 2025 and 2030 to meet global land-restoration and drought-resilience targets. The current investment is about $77 billion a year.

That gap represents a problem for governments but also an opportunity for businesses. A drought does not stop at the farm gate. It can reduce livestock and crop production, increase food prices, weaken family incomes and affect manufacturers, retailers, banks, transporters and insurers.

As the triple COP year moves from Mongolia to Armenia and Trkiye, the companies that understand their dependence on land, water, climate and biodiversity and have the data to measure those risks, may be better placed to protect their supply chains, attract capital and compete in the economy that is emerging.

The same applies to degraded soils and disappearing ecosystems. Rangelands cover 54 percent of the Earth’s terrestrial surface, support the livelihoods of about 500 million pastoralists and contribute to the food and value chains on which billions more people depend.

For Kenya, where agriculture and livestock remain major economic activities, this makes investment in resilience increasingly a business decision rather than simply an environmental one.

There is also a growing market around the response. Agroforestry can improve farm productivity while restoring degraded land. Better water management can reduce exposure to scarcity. Sustainable livestock systems can strengthen value chains while protecting rangelands. Restoration projects can create new investment opportunities where credible data, financing mechanisms and markets exist.

The remaining two COPs this year will widen the conversation. The Convention on Biological Diversity COP17 in Armenia in October will focus on implementation of the global biodiversity framework, while the UN Framework Convention on Climate Change COP31 in Trkiye in November will take forward discussions on climate finance, adaptation and other issues directly relevant to investment.

For Kenyan companies, the lesson from Ulaanbaatar is therefore not simply that another environmental COP has taken place; it is that land, climate and biodiversity risks are increasingly financial risks.

Companies will need better information about their exposure to drought, floods, water stress and degraded ecosystems, while investors will need clearer evidence about which businesses are building resilience and which remain exposed.

As the triple COP year moves from Mongolia to Armenia and Trkiye, the companies that understand their dependence on land, water, climate and biodiversity, and have the data to measure those risks, may be better placed to protect their supply chains, attract capital and compete in the economy that is emerging.

A coffee cherry leaves a farm in Nyeri for a few shillings a kilo. Months later it returns as a branded bag on a Nairobi shelf or a flat white in a London cafe at many times the price. Almost none of the difference stayed in Kenya. The roasting, the grading, the branding, the packaging, the financing, the market relationship. All of it was captured somewhere else.

That gap is the whole story.

Kenya is often described as an agricultural success. Underneath, it is a raw material exporter. We sell cherry, not coffee. We sell leaf, not tea. We sell nut, not the finished product. The country grows some of the best commodities in the world and lets others earn the expensive part of the chain.

The numbers are not marginal. The few who navigate direct export can earn a premium of around 38 percent over the auction. That margin is simply the value of the steps Kenya lets others take.

For years, saying so felt like a contrarian point. It is not any more. Value addition is now official policy. In June President William Ruto launched a coffee revival programme and said Kenya would move from exporting raw coffee to local processing, packaging and branding. The ambition is to nearly triple output and pay farmers more.

On the diagnosis, the government is right. The problem is that a diagnosis is not a cure. Once everyone agrees value should stay home, the interesting questions are the ones the slogan skips. Why does the value keep leaking? And why do the fixes so often underdeliver?

Start with the fixes because Kenya is running a live experiment. The Coffee Act signed this year creates a new Coffee Board and brings the whole chain onto a formal register. The Direct Settlement System now promises farmers payment within five days and at least 80 percent of the proceeds paid directly. This is real progress on an old disgrace. Farmers waited months and lost a fortune to middlemen and opaque deductions.

But paying a farmer faster for raw coffee is not the same as keeping the roasting margin at home. Payment reform fixes who gets the low price sooner. Value capture is about earning the high price at all. The two are easy to confuse. The country should not. Then there is the temptation to mandate value addition by decree. Kenya has tried it. Macadamia shows how it fails. To force local processing, the country restricted raw nut exports. The result was not more value at home. Farm-gate prices collapsed to as little as Sh50 a kilo, nuts sat in stores at risk of spoiling, trading firms closed and growers are now begging for the ban to be lifted. The lesson is blunt. You cannot order value capture into existence when the processing capacity, the markets and the finance are not there to receive it. Value addition is a system, not an instruction.

Which brings us to the part that is missing. Finance and governance are the binding constraints. A cooperative that could roast, grade and brand cannot fund the working capital to do it. So it sells raw and takes the low price season after season. Local banks price agricultural risk at a premium because the entities are opaque. International capital stays away because the governance is left unmodelled.

This is a market, not a charity case. Export-ready agribusiness generates real cash flows against real orders. A growing set of specialist funds now treats African trade finance as an asset class. They raise capital to finance the processing and shipping that traditional banks will not. Yet the money rarely reaches the cooperative, because there is nothing on the other side it can safely lend against.

Governance is the root of the finance problem. Global capital will not fund a cooperative that is governed like a political club. It requires an investable structure like a ring-fenced SPV to absorb the working capital needed for roasting and branding. Investors demand independent boards, transparent reporting and clear legal frameworks. When decision-making is opaque and financials are mingled, international investment committees walk away.

The coffee reforms have exposed this tension. The push for direct digital payment is colliding with the cooperative movement that farmers have trusted for a century. Both instincts are right. Transparency matters. So do the institutions people actually believe in. The reform that lasts will respect both while forcing cooperatives to adopt the fiduciary standards that global capital demands.

None of this is fate. Every raw container that leaves the port is value the country decided not to keep. The decision can be made differently. It requires finance that funds processing, institutions that earn trust and markets reached directly rather than through a chain of intermediaries who add cost and not value.

Kenya is not a poor country exporting cheap goods. It is a rich country giving away the expensive part. The coffee is ours. It is time the margin was too.

Kenya imported a consignment of jet fuel outside the Government-to-Government (G-2-G) supply contract between Kenya and three Gulf oil majors, to avert a shortage of the commodity that would have hit the country’s two major airports from last week.

Confidential official correspondence seen by the Business Daily revealed that Kenya received 30,000 tonnes of jet fuel on August 20, outside the G-to-G deal that the country signed with Saudi Aramco, Emirates National Oil Company (Enoc) and Abu Dhabi’s Adnoc, to supply petroleum products since March 2023.

The special shipment, through Gulf Energy, was diverted from a larger jet fuel shipment headed for Europe to help cover rising demand for the commodity, which peaked in July at the Jomo Kenyatta International Airport (JKIA) and Moi International Airport in Mombasa (MIA).

JKIA has become busier in the past few months after it became an unexpected transit and refueling hub because the Middle East conflict forced the closure of regional airspaces and main aviation hubs.

Oil marketers raised concerns on diminishing stocks of jet fuel early last month, prompting meetings with the Energy and Petroleum ministry on August 6 and August 11 on ways of averting the crisis.

Kello Harsama, the Principal Secretary for Petroleum, said in correspondence seen by Business Daily that the special shipment of Jet A-1 was meant to bridge an anticipated gap in supply for August.

‘Following the industry meetings held on August 6 and August 11, to deliberate on the emerging Jet A-1 supply concerns, which included increased uplift by airlines in the month of July 2026, leading to an anticipated supply gap in the month of August,’ Mr Harsama says in a letter dated August 18.

‘The Ministry of Energy and Petroleum, in conjunction with the G-to-G Jet A-1 nominated oil marketing company, urgently engaged the International Oil Company for an interim solution to bridge the supply gap and guarantee security of supply and business continuity,’ he added in the letter sent to CEOs of local oil firms.

Kenya currently imports fuel under a G-to-G deal with three Gulf oil majors but was forced to ship an emergency cargo outside this arrangement amid increased demand mainly from international airlines at the two airports.

Sources privy to the matter say that the next cargo of jet fuel under the G-to-G deal is due to arrive at the port of Mombasa between September 1-3, 2026, leaving the country exposed had the emergency cargo not been shipped.

The increased uptake has mainly been attributed to the wide-body commercial jets of airlines such as Lufthansa, British Airways, Emirates and Qatar Airways at JKIA. Widebody aircraft, mostly used by leading airlines globally, consume more fuel compared to smaller aircraft.

Sources added that Abu Dhabi’s Adnoc Global Trading Ltd, through its local nominee Gulf Energy, supplied the cargo that was sourced from a ship destined for Europe.

The emergency cargo was priced at $185 (Sh23,948.25) per tonne, which was more than double the G-to-G premiums of $97 (Sh11,262.15) for the same quantity. This is the second time this year that the government has been forced to ship extra fuel shipments to avert a crisis.

The first time was in April this year when the country’s National Security Council, cleared the Ministry of Energy and Petroleum to import petrol outside the G-to-G framework to avert a shortage over the Easter festivities.

But the shipment was later declared illegal, overpriced and sub-standard and would later trigger the resignation of three top State officials in the energy sector.

Mr Wandayi says his ministry met with the oil marketers supplying jet fuel early in July, when it became clear that the current stocks would not meet the high demand at JKIA and MIA. They agreed to source a stop-gap cargo to avert the outage of jet fuel.

The ministry then engaged Gulf Energy and Adnoc Global Trading Ltd to bring forward the cargo that was due to arrive at the port of Mombasa under the G-to-G deal in the first week of September.

But Adnoc Global Trading Ltd said that it was unable to bring the cargo forward due to the logistical nightmare caused by the Middle East conflict. The Ministry of Petroleum then directly engaged Adnoc Global Trading Ltd in efforts to secure an immediate cargo.

Adnoc then offered Marlin Le Havre, a vessel destined to deliver jet fuel in Europe and which was due to arrive at the port of Mombasa around August 20, 2026.

Planning for jet fuel is done eight to 12 weeks in advance under the G-to-G, but the high demand in the past two months has now forced the State to allow a shipment outside the G-to-G.

Mr Wandayi added that the next jet-fuel cargo, planned to arrive in the first two weeks of September, has since been revised upwards to 80,000 tonnes from the original 60,000 tonnes, to ensure enough stocks of the fuel.

Since April 2023, Kenya has been importing fuel in a G-to-G deal with Adnoc Global Trading Ltd, Saudi Aramco Trading Fujairah and Emirates National Oil Company, supplying the fuel on a credit period of 180 days.

The three Gulf oil majors hand-picked Gulf Energy, One Petroleum, Galana, Be Energy and Oryx Energies to supply the fuel in the Kenyan market.

The deal was earlier set to lapse last year but has since been extended to end in December 2027 and March 2028 for diesel and petrol, respectively. The deal for jet fuel will expire in February 2028.

For some people, earbuds are a part of the bedtime routine to get what they call ‘quality’ sleep. They put them on to listen to their favourite music, settle into a favourite podcast or drown out the sound of a snoring partner.

For others, the earbuds have become a way of creating a quiet space at the end of a long day, with soothing sounds helping them relax into sleep.

But is it safe to sleep with earbuds in your ears every night?

According to Dr Valerie Salano, an ENT surgeon at the Aga Khan University Hospital, using earbuds occasionally and at a low volume is generally fine. The concern begins when they become a daily habit, particularly when they are used at high volume or are tight-fitting.

‘There are some people who say there are benefits to using their earbuds, especially while sleeping,’ she says.

One of those benefits is masking unwanted sounds. ‘Someone whose partner snores, for instance, may use earbuds to block out the noise. Music or other sounds may also help some people relax.’

She notes that for people who experience tinnitus, a ringing or buzzing sound in the ear, listening to something in the background can also be useful.

‘One of the ways we advise the patients to deal with that is called masking. So it’s kind of like confusing your brain not to focus on that ringing in the ear,’ she explains.

However, while there may be situations where sound can help with sleep, she cautions against using in-the-canal earbuds every day.

‘The ear naturally produces wax, which serves a purpose. But when earbuds are repeatedly placed inside the ear, they can push the wax further in and cause a buildup.’

That, she says, can leave someone wondering why their hearing does not seem as good as usual.

‘An ear canal with an earbud in it can become a confined space, trapping moisture inside. This can create an environment where an infection of the outer ear can develop,’ she adds.

She notes that some earbuds are hard and do not have soft tips. For people who sleep on their side, the pressure of lying on an earbud for hours can cause irritation and discomfort. ‘Constant pressure can also cause dryness and, in some cases, hyperpigmentation, a change in the colour of the skin around where the earbud rests.’

Noise-cancelling earbuds

Additionally, Dr Salano says even with noise-cancelling earbuds, a person may become less aware of what is happening around them while asleep. This could be a concern in an emergency, such as a fire or gas leak, because the person may not hear the warning signs.

Still, she notes volume remains an important consideration even for those who choose to use earbuds. ‘Many devices now warn users when the sound level is dangerously high. Individuals should not ignore such notifications,’ she advises.

Repeated exposure to loud sound can affect hearing. She explains that people may first experience a temporary threshold shift, where their hearing feels different after being exposed to loud sound for some time. Continued exposure to loud sound can eventually lead to noise-induced hearing loss. ‘If you are consistently exposed to loud sound, then you will develop hearing loss quite later on in life,’ she says.

Recommended volume

For those who still choose to use earbuds, she recommends keeping the volume at around 60 percent and limiting listening time: the ’60 to 60′ approach: about 60 percent volume for around 60 minutes, followed by a break.

The same caution applies to cleaning the ears. ‘Earwax naturally moves toward the outer opening of the ear, where it can simply be wiped away with a piece of cloth. Putting cotton buds or other objects into the ear can instead push the wax further inside,’ she says.

After showering, she cautions against putting an earbud into a wet ear because it can trap moisture. ‘If water gets into the ear, it should be allowed to drain, with the outer part gently dried using a piece of cloth.’

An infection of the outer ear may be caused by bacteria or fungi. Some warning signs include pain, discomfort, discharge, ringing in the ear or difficulty hearing. A person may also experience fever or headaches, although these symptoms do not occur in everyone.

So, are there people who can safely sleep with earbuds every night? ‘Not really,’ she says. ‘Technology, however, offers alternatives for people who rely on sound to fall asleep. Instead of placing earbuds inside the ear, one can use a soft sleep mask or headband that plays sound without putting pressure inside the ear.’

There are also pillow speakers, while others may simply place a speaker beside the bed or under the bed.

And for those who feel they cannot fall asleep without earbuds, Dr Salano says it’s a misconception that some people say they cannot sleep without earbuds. ‘It’s just a habit, and with a habit, it’s something one can learn to change,’ she adds.

Google has joined Meta in withholding 5 percent of earnings paid to Kenyan content creators, as the State moves to capture revenue from digital platforms that monetise content.

The US tech giant has demanded that YouTube content creators submit their Kenya Revenue Authority (KRA) Personal Identification Numbers (PINs) by October 1, warning it will freeze payments to creators who do not comply.

Google joins Instagram and Facebook’s parent firm Meta, which began withholding the 5 percent tax from payments to Kenyan creators in January this year.

Kenya has been tapping its booming digital economy to widen its tax base as it seeks to cut reliance on borrowing. The Income Tax Act requires that digital platforms submit 5 percent on advertising revenue payments to video, blog and podcast creators.

‘Each month, Google will withhold a 5 percent Kenya tax on finalised YouTube earnings along with any applicable US taxes. This withholding will first apply to September 2026 earnings paid out in October 2026,’ Google said in a notice.

‘You must submit your Kenyan personal identification number (PIN) in AdSense for YouTube by October 1, 2026, or your payments may be held… your YouTube earnings will continue to accrue, but payments will stop until a verified PIN is provided.’

In Kenya, Google and Meta are the only tech giants that share part of the revenue they earn from placing ads in creators’ videos.

The companies remit the cash monthly to the creators’ bank accounts, who are then required to account for these deductions when filing their annual tax returns.

YouTube pays Kenyan creators for ads placed in videos on its main feed or the vertical-video tab called Shorts.

For revenue collected through YouTube Premium subscriptions where users watch content without ads, the company pays creators based on their channels’ watch time. YouTube says creators earn more per view from Premium users than non-paying watchers.

Creators are advised to keep their records updated. Doing so ensures they comply with the law. It also guarantees smooth payouts while Kenya strengthens oversight of digital content monetisation.

To be eligible for monetisation, a YouTube account must have 1,000 subscribers and either 4,000 watch hours in the past 12 months or 10 million Shorts views in the last 90 days.

Starting February next year, however, creators will need at least 8,000 qualified watch hours over the previous 12 months or 20 million qualified ‘Shorts’ views over 90 days to qualify for monetisation.

Meta, which began monetising content in Kenya in 2024, pays for ads that play before, during, or after Facebook videos and its short-form vertical video tab, Reels.

To qualify, creators must have at least 5,000 followers and reach 60,000 total minutes of view time in two months. Under YouTube and Meta’s revenue-sharing models, both platforms take 45 percent, while 55 percent is paid out to the creators.

Kenya initially proposed a 15 per cent withholding tax on digital content monetisation, but after public pushback, it was slashed to five per cent for resident creators when the final Finance Act 2023 took effect. Non-resident content creators are taxed at 20 percent.

Kenya has set an ambitious goal to build a stronger manufacturing economy capable of creating jobs, attracting investment and expanding exports across Africa.

It is a vision anchored in Vision 2030 and reinforced by growing opportunities under the African Continental Free Trade Area (AfCFTA). Realising that ambition, however, will depend not only on expanding industrial capacity, but also on protecting the integrity of the market in which legitimate businesses operate.

One of the greatest threats to that ambition receives far less attention than energy costs, taxation or access to finance. It is the steady growth of illicit trade.

Smuggled, counterfeit and tax-evading products continue to find their way into Kenyan markets, creating unfair competition for compliant businesses while eroding government revenues and investor confidence. Counterfeit goods, in particular, often fail to meet quality and safety standards, exposing consumers to unnecessary risks while undermining trust in legitimate manufacturers that invest heavily in product quality, regulatory compliance and consumer protection.

The economic consequences are substantial. Estimates vary, but they all point to a problem of significant national importance. Kenya’s Anti-Counterfeit Authority estimated the value of illicit trade at Sh826 billion in 2025, while estimating associated government revenue losses at more than Sh153 billion annually. Internationally, the OECD and the European Union Intellectual Property Office estimate that counterfeit and pirated goods account for approximately 2.3 to 2.5 percent of global trade, depending on the reporting period and methodology. In markets where enforcement remains uneven, the impact can be even greater.

Kenya’s manufacturing sector has already faced considerable headwinds. Its contribution to GDP declined from 11.5 percent in 2009 to approximately 7.1 percent in 2025, even as the sector continues to provide more than 370,000 formal jobs and remains central to the country’s industrialisation agenda. At the same time, businesses continue to navigate high production costs, including high electricity costs that continue to weigh on industrial competitiveness. Against this backdrop, illicit trade places an additional burden on businesses that choose to operate within the law.

When counterfeit or smuggled products enter the market without paying applicable taxes or complying with regulatory requirements, they acquire a structural pricing advantage over legitimate businesses. In some product categories, including writing instruments, counterfeit products can retail at prices up to 50 percent lower than genuine products because illicit operators avoid the costs associated with taxation, quality assurance, safety standards and regulatory compliance.

The result is an uneven competitive environment. Businesses that invest in local production, employment, environmental compliance and consumer safety are required to compete against operators who carry few, if any, of those obligations.

The effects extend well beyond individual companies. Every factory operating below capacity represents jobs that are not created or sustained. Every investor who questions whether intellectual property rights and regulatory standards will be consistently enforced may reconsider where to allocate capital. Every tax shilling lost to illicit trade limits the government’s ability to invest in the roads, ports, electricity infrastructure, healthcare and education systems that underpin long-term economic growth.

The Kenya Revenue Authority has repeatedly identified illicit trade as a significant challenge to domestic revenue mobilisation. At a time when Kenya is working to broaden its tax base while maintaining fiscal sustainability, reducing illicit trade should form part of a broader strategy to strengthen public finances and improve the competitiveness of the formal economy.

There is also a consumer dimension. Many illicit products are cheaper, and in an environment where households continue to face significant cost of living pressures, some consumers and small retailers may be drawn toward lower-priced alternatives. That reality should not be ignored. It suggests that enforcement measures are most effective when accompanied by policies that strengthen domestic manufacturing, improve productivity and help legitimate producers remain price competitive.

Manufacturers around the world are reassessing their supply chains, diversifying production and looking for reliable regional manufacturing hubs. Kenya has invested significantly in positioning itself as East Africa’s industrial and logistics gateway, supported by its strategic location, skilled workforce and access to regional markets through AfCFTA.

The challenge is also evolving. Illicit products are increasingly able to reach consumers through online platforms, social media and fragmented delivery networks, requiring more enforcement efforts across the board to capture online and offline channels. Kenya’s response must therefore evolve alongside these channels, combining stronger digital monitoring, product authentication and intelligence-sharing with online marketplaces and logistics providers.

Maintaining that competitive advantage requires more than attractive investment incentives.

Investors also seek confidence that intellectual property rights will be protected, regulations will be enforced consistently, and businesses that comply with the law will not be disadvantaged by those that do not. A marketplace where counterfeit and illicit products remain widespread sends a signal that can undermine years of investment promotion efforts.

Addressing illicit trade should therefore be viewed not simply as a law enforcement issue, but as an important component of Kenya’s broader industrial and economic strategy.

Encouragingly, institutions including the Anti-Counterfeit Authority, the Kenya Bureau of Standards, the Kenya Revenue Authority and the Directorate of Criminal Investigations have strengthened market surveillance and deepened collaboration with the private sector. These efforts matter.

The task now is to deepen coordination across the entire supply chain, from border entry and ports to wholesale, retail and digital marketplaces. This requires stronger intelligence-sharing, coordinated enforcement and faster action against repeat offenders. Kenya’s ambition to become a regional manufacturing powerhouse is both achievable and worth pursuing. Protecting legitimate businesses from unfair competition, safeguarding consumers and ensuring a level playing field will be essential to turning that ambition into sustained economic growth.

Strengthening the integrity of Kenya’s marketplace is not simply about protecting businesses. It is about protecting investment, supporting jobs, improving consumer confidence and creating the conditions for a more competitive and resilient economy. Achieving this will require sustained collaboration between government and the private sector to strengthen enforcement, improve market surveillance, leverage technology and ensure business comply with the law.

Recurring power interruptions in Kenya are no longer simply an inconvenience to households. They are becoming a business-continuity, property-management and investment issue.

On July 29, Kenya Power confirmed an outage affecting Nairobi, the Coast, Mt Kenya and parts of the Central Rift, attributing it to system disturbance. Planned interruptions continued in August.

Property owners should now ask not only how quickly power can be restored, but how prepared their properties are when it is not.

The World Bank says power outages cost local businesses an average of 1.5 per cent of annual sales. Rationing linked to changing wind and solar generation can force businesses to seek alternative power or scale down operations. Reliable electricity should, therefore, be viewed as an input into productivity.

In the records I reviewed for an estate in Westlands, electricity expenditure from January to May was about Sh360,116. Generator fuel cost approximately Sh122,693, generator servicing Sh9,280, while electrical repairs and items amounted to about Sh60,979. The estate recorded a cumulative deficit of Sh122,257.

When the grid fails, generators consume fuel, require servicing and may need repairs. Voltage fluctuations can also expose pumps, lifts, CCTV systems, access controls, computers and other equipment to damage.

Property owners should consider a combination of solar panels, battery storage and hybrid inverters. They can begin by identifying critical loads such as security systems, internet equipment, lighting, pumps and essential office equipment.

An audit can establish actual consumption and determine the appropriate inverter, battery and solar capacity. The priority should be protecting systems that keep revenue flowing.

Kenya’s energy transition also creates an opportunity. Kenya Power recently warned that rapid growth of variable wind and solar generation is affecting grid stability and reliability.

The question is no longer whether alternative power is affordable. It is whether continuing to pay for outages through fuel, repairs, lost productivity and tenant dissatisfaction is more expensive.

In the current environment, energy resilience is no longer a luxury. It is becoming responsible asset management.

The increasing interest of investors in how sustainability matters affect organisations and in how organisations respond by managing, leveraging and taking advantage of sustainability to build long-term competitive advantage and achieve financial viability, is no longer a surprise.

Surveys point to topical areas investors prioritise, in addition to understanding the business growth strategy implications of sustainability. An important low-hanging fruit for organisations is providing information on the significance, or otherwise, of climate risk to the organisation, including the basis for the conclusion reached by management.

Climate risk has stood out for many reasons, due to its pervasive effects, including the contagion risk it poses, which could disrupt financial systems and supply chains.

In recent weeks, we have seen banks and corporates preparing a climate disaster response playbook to enable them prepare for and respond to a potential tail-risk climate event (a severe, low-probability, high-impact climate disruption).

While not every organisation will experience the adverse effects of climate risk to the same degree, organisations should be prepared to discuss their assessment of the significance or otherwise of the financial effects of climate risk on the business.

Climate risk has become a recurring topic for investors, irrespective of other material sustainability topics. While it may not be material to all organisations, investors are keen to understand the approach organisations have taken and the basis that justifies and supports it.

Another important topic for investors is understanding how organisations are using sustainability data to improve efficiency and performance. Investors are keen to gain insights on how sustainability is driving efficiency in energy and resource utilisation, supply chain optimisation, waste reduction and circularity, workforce productivity and product design.

Investor interest has been observed in cost-effective, sustainability-driven solutions that help organisations prosper, particularly in highly competitive, margin-thin industries. It is also closely linked to the organisation’s ability to build resilience when responding to shocks.

Organisations should be prepared to provide comprehensive disclosures on these matters in addition to the sustainability material topics identified.