Category: Business Daily

Before answering, Donald Wangunyu pauses. His eyes shoot up to the left, searching the corners of his brain, looking for the right words. When he finds them, it’s an avalanche, a problem of abundance. But when the CEO of FourFront Management is not thinking, he is doing stuff. Having conversations with the dead, à la the philosopher Zeno of Citium. Or wearing bow ties, his dash of magic, or madness, depending on who you ask. He is a bit of a craftsman himself. ‘I am redesigning my wedding ring,’ he says.

He is also a systems man. Even as we take a walk at his home in Nairobi’s Kitisuru, where he is supervising some construction projects, his movements seem practised, like those of someone who did everything according to the way it was set out in some book. ‘Whoever can make whatever is complex simple,’ he says, ‘will be paid very good money.’ That’s his superpower. He is less interested in the mechanics of decisions, of making the right decision, but instead, making the decision right. Simplicity, not simplism.

Donald, what’s the greatest part about being you? The experiences that I have had, both difficult and enjoyable, have enabled me to perceive the world in the moment. Meaning that I have a very clear view that history is memory and the future is imagination. Therefore, the ability to extract all the value from this present moment, and the feelings I have about it, and being able to share those feelings, in my opinion, is the best part about being Donald.

What’s one rule you live by? I’ll give you three. One, information is not the same as a decision. Meaning that in our world today, we are surrounded by information. In fact, using technology, you can reference global knowledge, the history of humanity, but that doesn’t give you the right to delegate the decision. It will always be yours, whether it’s a personal or professional decision. A lot of people, especially younger people, don’t want to make decisions, especially one-way decisions, like getting married or what career path to take, but all of those are decisions one must make.

Two, you’ve got to think in systems. ‘Follow your passion” is an absolutely wrong idea. Passion comes from being good at what you do. And if you’re good at what you do, you’ll be passionate about it. What you should do is build discipline to drive you forward even on days when you don’t feel like doing it. Discipline, with the right system, allows you to achieve anything.

Third is curiosity. Don’t settle for what you know today. Stay curious. Imposter syndrome makes people want to stay in their position. Put those three things together: discipline, curiosity, and the ability to simply make a decision even though that decision will close options, and that’s what shapes everything.

Was there a moment in your life that challenged that rule? How much time do we have [chuckles]? You know, one would say that unless you feel the challenge, trigger imposter syndrome, and have to build a new system, you haven’t pushed yourself hard enough. You’re just doing the same thing you did yesterday. For example, I wear bow ties. I woke up one day and said, “I’ll just wear bow ties.” And I’ve been in rooms with 1,000 people, and I’m the only person wearing a bow tie. That creates attention. For someone to purposely seek attention, it means they’re pushing the boundaries, and you can feel it in your guts. I like that feeling. If your work and it feels fun and easy, you haven’t found your edge. I look to experience that as much as possible until exhaustion sets in, because psychologically, you’re fighting.

Speaking of, what’s one hard thing you’ve done lately? I do nothing but hard things. Deciding how my children are going to perceive me and creating a foundation for them from a religious perspective required very deep study, to the extent that I discovered an order of the Catholic Church for lay people who studied scripture deeply. That was on the back of deciding that every day I’d read for half an hour, no matter what. That presents a danger of not being of service to mankind-you’re consuming and building knowledge for your own self. Of course, that leads into the work that I do, which is primarily all research and development in terms of what we’re doing to bring trading on the Nairobi Securities Exchange to the common person.

What’s the one money lesson you’d really want to ingrain into your son? The first is, speak up. The next is, build experiences into the children. I was doing a high-level talk in Uganda, and I took my son to give him a really clear understanding of what’s going on in the world. He got to see dignitaries, how they are handled, and what a holding room is. Ditto, my daughter, when I was doing a talk about two weeks ago. I took her. They are grounded in real experiences of what people are talking about and things that are happening. You don’t set out to make money; you set out to solve a problem. To solve a problem, you have to observe mankind or observe humanity. Speak up. You have to go against the grain because you’re trying to solve it.

Was that how you grew up? Once we hit teenagehood, our parents introduced money discussions. I played in the orchestra when I was at St Mary’s playing double bass, and I got to the level where I needed to practice more hours than I could get access to the instrument at school. So, of course, you come and ask your parents, “Okay, can I get a double bass?” And my mother sat me down and said, “Okay, if we get you a double bass, it means we’ll have to get all your siblings something. Are you sure this is the kind of cost you want to bring to us?” And I said, “You know what? I’ll talk to my music teacher.”

I also remember when we needed to choose a university to go to. If every school will teach you 1 + 1 = 2, quantify the value you’re buying. When one quantifies the value of an international school, he’s quantifying his career, where the children are in terms of being global citizens, and the relationships they build in school, which is beyond just 1 + 1 = 2.

You grew up under a successful father; what kind of pressure does that bring? There were 15 years when we spent pretty much every day going to work together. We made every decision with me observing, right down to the correct phrasing of letters for particular effects. We did it for 15 years, but when we got back home, he greeted me again as a father. There is normal employer-employee pressure, but he created a very clear distinction between home and work. My mother forbade us from talking business at the dinner table, even as adults. So you come home, have a cup of tea, and talk about life and the pursuit of happiness.

How are you being a different father than the one you had? I am trying to do much of the same, so I’m into a Catholic upbringing. My father is an entrepreneur, and I inherited that. I’m trying to expand on the foundation the previous generation built. You have three choices: maintain it, grow further from it, or expand. One of the challenges, if you take the view of maintaining, is that you have siblings, so what was managed by one person gets split between siblings. If you expand into different areas, you allow everyone to build their own visions into the structure and create different outcomes. If I could do what my father did, I would be successful.

The challenge is in understanding what the world means for my daughter as a young woman. Questions like, “Is it okay to cry in a professional environment? How does she balance being a professional, a wife, and a mother? And for my son, how he sees me treating his mother, because that affects how he will treat his wife.

What’s a lie about fatherhood that you no longer believe? The idea of ‘happy wife, happy life” is absolutely wrong [chuckles]. “Happy spouse, happy house” is the way to go. The fathers of our generation need to create stability for the family, but they must first be stable themselves. If your interior life is not stable, there is absolutely no way the house will be stable.

How has your interpretation of the word “husband” changed over the years? There are two types of husbands. The first is a temptation to give away the authority, coming from a lack of understanding of stability. Men tend to waver: either giving away authority, so the house doesn’t have a stable direction, or lording over the house. Nobody teaches husbands how to do that. But once you understand how to put your authority at the service of the household, then you remain at the centre, and everyone flourishes around you, knowing that whatever storms come, there is a harbour at the centre.

Kenya Association of Stockbrokers and Investment Banks Chairman Donald Wangunyu during an interview in Kitusuru, Nairobi on August 27, 2026.

Bonface Bogita | Nation Media Group

What habit has best improved your life? Systems thinking, and reading every day, even if it’s just 10 to 20 minutes. Read every day. Before you know it, you’ll have read more books than most people will. By my calculation, it takes about two to three years. Then, think in systems; don’t rely solely on passion. For instance, I need to lose weight, so I tell my personal trainer, “I hate exercising, so your job is to engage me in conversation so I forget that I’m exercising.” So, the system I needed to create was engaging the mind.

What’s a book you’d gift your son? Ego Is the Enemy by Ryan Holiday, so he can be clear with his interior.See things as they are, says the book. When you see a big fancy car, that’s just transportation. Don’t get overwhelmed by the extra meanings people attach to things. That’s ego. Keeping up with the Joneses is the easiest way to get broke.

What’s something nice you’ve done for yourself lately? I am redesigning my wedding ring, myself. I’ve been married 18 years, and my ring fell into a cistern. I’ve been designing one for the last six months.

Will you go the whole way, including renewal of vows? [chuckles] I don’t know, because I can’t answer that question without permission. But I’ve put a budget together, and I’m redesigning a ring for the person I am today rather than who I was 18 years ago.

Yours alone, or plus hers? She will look at mine and then create hers.

What has marriage brought to your life that being a senior bachelor would not? Everything. Even at SIB Bank, my mother was the secretary while my father was in the office. Marriage is the platform upon which you succeed. Life doesn’t truly start until you get married and learn how to manage finances as a couple, rather than remaining roommates with “my money vs your money.” Then, getting children forces you to think beyond yourselves.

If you could have learned a lesson early in life, what would it have been? Go out there and do things without creating psychological barriers for yourself. If you’re not feeling anxious or experiencing imposter syndrome, you are not pushing hard enough.

What are you secretly good at? Clarifying a decision. In meetings, stripping away noise and fluff and identifying the exact decision that needs to be made. That’s why I am in the room.

What do people often get wrong about you? That I am outgoing [chuckles]. I am very good at doing what I need to do, but it takes a lot of energy to get there and much more energy to recover. I enjoy it, but I am not outgoing at all.

How do people show you love? Enabling silence. Being in the same space without necessarily having to make noise or perform. The presence in itself is enough.

What’s your top tip against life’s mental storms? If you’re struggling with a problem, think about it really hard, then go to sleep and let your subconscious work on the problem. Remember, “Ego is the enemy”, so see things as they are, and build systems. If you get demoted at work, with a smaller office, but you are still getting a salary, then your ego is your enemy.

What’s your idea of a good weekend? Exploring new places. We set a family rule not to go to the same restaurant twice in the same year. My main hobby is grilling and exploring spices and foods.

What’s your go-to grill? Pork, especially the burnt ends with maple syrup.

What do you know that I should know? Engage with the stock exchange because it’s a national asset and the potential of the country, and money will be made there whether you participate or not. Also, build a base of genuine relationships with as many people as possible and invest in those relationships. They say you can determine how wealthy someone will be by how many people they can call and put in a room together.

How long do you sit in a day? When I asked those around me this question, their first response was six to eight hours. However, when we went through their daily activities, that figure quickly changed to double digits, signalling just how unaware we are of how long we sit.

Data from a fitness and lifestyle application offered by Old Mutual Group dubbed Thrive showed 74.1 percent of 31,734 engaged users are sedentary for more than 12 hours a day.

‘Sedentary does not mean being lazy but rather a long period awake, with very low energy use such as sitting, reclining or lying down,’ Dr Isaac Nzioka, head of digital business at Old Mutual says.

‘Fourteen sedentary hours can accumulate surprisingly easily. A normal day can contain movement and still be dominated by sitting,’ he adds.

The app found that most users spent an average of seven hours on a desk doing work-related duties while three hours went into TV and phone usage including scrolling or reading.

Other sedentary hours were used in commuting and during meals.

‘The point is not that every day looks exactly like this. It is that ordinary routines can quietly add up, so exercise and regular movement breaks matter,’ says Dr Nzioka.

The doctor recommends including movement breaks every 30 to 60 minutes, walking while talking or while on audio call, use of stairs and walking part of the commute.

‘You should aim for 150 to 300 minutes of moderate activity in a week plus strength work on two days,’ he added.

The long sedentary hours have been associated with a myriad of problems such as back pains, cardiovascular diseases and Type 2 diabetes.

‘It is concerning, especially in my case, because most of the patients I’m seeing with issues to do with the low back and hips are just because of living a sedentary lifestyle, especially sitting for long hours,’ says Jamin Mwangi, a physiotherapist at Zuri Health.

‘It’s ironic that people who are seated, not engaging in any strenuous activity are the ones getting very serious issues to do with the musculoskeletal system,’ he adds.

Mr Mwangi notes at least two of the six patients he sees in a day have back problems, mainly arising from sedentary living.

The physiotherapist reckons our bodies were not designed to be seated for more than an hour, beyond which we put excessive pressure on the low back and hips. Other challenges associated with long sitting hours include accumulation of dead weight around the mid-section as enzymes that help break down fats become less active.

Dr Nzioka also notes during sedentary state, inactive muscles absorb less glucose from the bloodstream causing blood sugar problems. In a long sitting position, leg muscles pump less blood, resulting in unhealthy blood circulation in the body.

As technology and virtual working increase the amount of time employees spend seated, sedentary behaviour has become an important workplace wellbeing concern.

Some companies such as Absa Bank Kenya have started activities that trigger active competition among its staff.

Staff are placed in teams dubbed kayas in which members accumulate their daily walking steps with the winning team taking a cash prize of up to Sh5 million.

‘Our focus is not only on organised sport, but on making movement accessible and sustainable for colleagues with different roles, locations and fitness levels. We are seeing greater awareness of personal wellbeing, alongside stronger colleague engagement and teamwork,’ sys Mumbi Kahindo, Chief People Officer at Absa Bank Kenya.

‘Employers have an important role in creating environments that make it easier for people to move, recharge and succeed,’ she adds.

The physiotherapist emphasises on the need to exercise over and above taking breaks during working hours.

‘I normally advise people to ensure they engage in some form of exercise at the end of the day. If you can’t afford to go to the gym, you can download a step track on your phone and ensure you do at least 10,000 steps,’ says Mr Mwangi.

Insurance regulators from six East African countries are moving towards common supervision rules in a push to create a more harmonised insurance market and ease compliance for companies operating across borders.

The East African Insurance Supervisors Association (EAISA), bringing together regulators from Kenya, Uganda, Tanzania, Rwanda, Burundi and the Democratic Republic of Congo, adopted a harmonised insurance core principles assessment template during a recent meeting held in Nairobi.

The template, which includes about 25 principles, will provide a common basis for evaluating supervisory standards, identifying regulatory gaps and promoting peer learning. This sets the stage for closer alignment of supervisory practices, with the regulators agreeing to convene in December 2026.

‘The outcomes of the meetings mark a further step towards a more integrated, coordinated and technology-enabled regional insurance supervisory framework, with stronger emphasis on consumer protection, harmonised regulation and effective cross-border cooperation,’ read the joint communiqué.

The exercise is expected to identify differences in national regulations and supervisory practices that could be addressed as the region moves towards regulatory convergence.

‘This is work in progress. We agreed to carry out assessments against 25 insurance core principles and compare notes in December. The idea is to move towards one market,’ said Godfrey Kiptum, chief executive of Kenya’s Insurance Regulatory Authority (IRA).

The move could reduce regulatory differences for insurers operating in more than one East African market, particularly as companies expand their regional footprints and businesses increasingly operate across national borders.

Kenyan insurers such as Jubilee, Britam, ICEA LION, Old Mutual, CIC, APA Apollo, GA and Mayfair have operations across EAC countries, making the push for common regulations relevant.

‘Having common regulations will make compliance easier for insurance companies operating across multiple EAC countries. Product development will become easier, and it will also make supervision of market conduct more effective,’ Mr Kiptum said.

Closer supervisory cooperation could also improve the handling of risks that require regional responses, including large infrastructure projects, trade-related exposures and natural catastrophes.

Many insurers face an increasingly regional risk environment, with businesses, infrastructure and supply chains operating across borders and exposure to risks such as floods, drought, cyber threats and other climate-related events spreading beyond individual markets.

EAISA meeting approved the development of regional guidelines on insurance complaints management, which are intended to establish common minimum standards for fair and timely handling of policyholder complaints while retaining national legal requirements.

The regulators also approved guidelines for monitoring and evaluation to improve the comparability of insurance market data and support evidence-based supervision.

The association further backed a harmonised approach to digital transformation, with emphasis on interoperability, consumer protection, cybersecurity and improved access to insurance services.

A regional insurance sandbox framework was also muted to give regulators a common approach to overseeing innovation in insurance technology.

The regulators approved the progression of the Regional Integrated Insurance Supervisory Software (RIISS), which is expected to strengthen information sharing and technology-enabled supervision across member regulators.

The initiatives are aimed at reducing regulatory fragmentation as insurers expand across the region and digital products make it easier to serve customers across borders.

EAISA also selected Kenya to host its secretariat for the next five years, giving the association a permanent base for coordinating the implementation of its regional supervisory agenda.

Kenya’s commercial banks with core capital of less than 8.625 percent of their loan book will be barred from paying any dividend to their shareholders in new regulatory proposals to control risk in the banking sector.

The Central Bank of Kenya (CBK) wants banks to maintain significant levels of common equity tier 1 capital (CET 1) -made up primarily of retained earnings- in relation to risk taken through lending before they can pay dividends.

CET1 consists of the highest quality capital a bank holds, primarily made up of ordinary shares and retained earnings, serving as a cushion to support financial stability.

A bank with a core capital less than 8.625 percent of its loan book will be required to rebuild its buffer by retaining all its earnings, while an institution whose CET exceeds 10.5 percent of the loan portfolio can pay out all its profit as dividends.

The 10.5 percent level is among the current standard minimum capital requirements, indicating that the regulator intends to force non-compliant lenders to catch up through the tiered system of stricter and dynamic curbing of dividend payouts the greater the shortfall.

Banks whose capital ratio exceeds 8.625 percent and up to 9.25 percent will have to retain a minimum of 80 percent of their earnings, while those in excess of 9.25 percent and up to 9.875 percent will retain at least 60 percent.

An institution whose capital ratio is more than 9.875 percent and up to 10.5 percent will retain a minimum of 40 percent of its profit.

‘The applicable conservation standards must be recalculated at each distribution date. For example, a bank with a CET1 capital ratio in the range of 8.625 percent to 9.25 percent is required to conserve 80 percent of its earnings in the subsequent payment period (i.e. pay out no more than 20 percent in terms of dividends, share buybacks and discretionary bonus payments),’ say the draft guidelines.

The CBK says banks keen on paying larger dividends than those allowed by the proposed rules can overcome the constraint by raising additional funds from other parties for purposes of enhancing their cash distributions.

‘If the bank wants to make payments in excess of the constraints imposed by this regime, it would have the option of raising capital in the private sector equal to the amount above the constraint which it wishes to distribute,’ the regulator said.

The CBK said the capital ratios will be placed at the consolidated level for banks that operate as a group under a holding company.

The restrictions on profit distribution form part of new capital requirements the regulator intends to impose on the banking industry.

The regulations include the introduction of the common equity tier 1 capital, which exclusively relates to shareholders’ capital tied up in the business and excludes some lines such as share premium, which will now be categorised as additional tier 1 capital.

The regulator has also introduced a new capital buffer to be held when banks are experiencing rapid credit growth. The buffer of between 0.5 percent and 2.5 percent of a bank’s loan book (total risk-weighted assets), dubbed the ‘countercyclical capital buffer,’ will be determined by the regulator every 12 months.

‘Institutions will be required to maintain a countercyclical capital buffer where the Central Bank of Kenya determines that there is a build-up of credit risk which could lead to system-wide stress,’ says the regulator.

The introduction of higher capital requirements in the US financial system saw investors shy away from banking counters, with analysts reckoning the same is expected in Kenya in the short term before being reversed.

‘Income-focused investors may have reservations in the short term concerning dividend payments due to tighter earnings retention policies (likely to affect lenders without significant excess capital buffers and may need to build them up) and potential payout uncertainty during stress cycles,’ said Melodie Ndanu, a research analyst at Standard Investment Bank.

‘In the long run, however, investors are likely to view the changes positively, with the introduction of Basel III-aligned features making banks far more resilient against systemic shocks,’ she added.

Nairobi Securities Exchange-listed banks have been paying substantial dividends over the years, backed by core capital topping the Sh100 billion mark for some institutions.

The 12 listed banks paid total dividends of Sh117.2 billion for the year ended December 2025, amounting to nearly half of the Sh245.9 billion that all publicly traded firms paid in their latest financial years.

For the full year ended December 2025, Co-operative Bank of Kenya raised its dividend per share by 66.6 percent to Sh2.50 from the prior year’s Sh1.50, while Equity Group lifted its distribution by 35.2 percent to Sh5.75 from Sh4.25 over the same period

In the half year ended June 2026, several banks bumped up their dividend on the back of strong earnings, including KCB Group, which increased its interim dividend by 50 percent to Sh3.0 per share, and NCBA Group which also hiked its interim dividend by 50 percent to Sh3.75 per share.

The CBK is also seeking to have big banks hold additional capital in what could weigh on their dividend decisions.

Large banks classified as domestic systemically important banks (D-SIBs), given the disruption their collapse or distress would create in the local economy and regional market, will be required to hold an additional buffer of between 0.5 percent and 2.5 percent of their loan book.

The regulator will look at the size of a bank, its interconnectedness with other institutions, complexity and substitutability (difficulty in being replaced in a specific service) to determine if it will be classified as a D-SIB.

‘CBK may impose a surcharge on designated D-SIBs, implemented as an extension of the capital conservation buffer (CCB) known as higher loss absorbency (HLA). HLA is implemented as a capital “add-on” or an extension to the existing CCB,’ states the draft.

‘This supplementary buffer must be met exclusively using common equity tier 1 capital,’ it adds.

This means that the core capital to total risk-weighted assets ratio required of a bank could rise to 19.5 percent from the current 10.5 percent.

Nairobi is set for a 10,000-seater indoor sports and entertainment arena as part of a $294.49 million (Sh38.14 billion) Railway City project in the race for major sporting, business and entertainment events with other African cities.

The arena will form the centrepiece of the Meetings, Incentives, Conferences and Exhibitions (MICE) Core Centre being developed at the Nairobi Railway Station area, with a hotel, serviced apartments, retail outlets and other entertainment facilities planned around it.

The development, which mirrors Rwanda’s model of using a multipurpose venue to attract MICE tourism, is being undertaken by Guernsey-headquartered Zaria Group through its local subsidiary, Metroarena Development Company.

The project forms part of the wider 172-hectare Railway City redevelopment initiative that seeks to expand the capital’s capacity to host major sporting, business and entertainment events, disclosures by the Kenya Railway Corporation (KRC) on the project show.

‘By stimulating commercial activity and attracting local and international events, the MICE-Core Arena is expected to catalyse growth in the tourism and MICE economy and investment in the surrounding precincts,’ the disclosures show.

After construction, the arena will be operated by QA Venue Solutions, a Zaria Group management affiliate that already manages the 10,000-seat BK Arena and Amahoro Stadium in Kigali.

Management contracts for the Nairobi facility are set on renewable 15-year terms, with the intention being that QA Venue Solutions will continue managing the arena indefinitely.

The Nairobi project comes as African cities compete for international sporting tournaments, concerts, conferences and exhibitions, with modern venues increasingly being developed as commercial and tourism assets.

The Democratic Republic of Congo (DRC) is, for instance, developing a 20,000-seat Kinshasa Arena, which is being positioned as one of Africa’s largest indoor venues. The project, estimated at $105 million (Sh13.6 billion), is designed to host basketball, concerts, exhibitions, and other major events.

The DRC arena will exceed the scale of BK Arena and the Dakar Arena in Senegal (15,000-seat capacity), both of which have become key assets in attracting international competitions and entertainment programming such as the Basketball Africa League (BAL).

Kenya hopes to benefit from such events. Rwanda’s BK Arena, which cost about $104 million (Sh13.5 billion) and was opened in August 2019, describes itself as the largest fully covered arena in East Africa.

The BK Arena hosted the inaugural BAL season in 2021 and the league’s playoffs and finals in subsequent years. It has also hosted other major entertainment events, including American R and B singer Ne-Yo, who performed at the venue in 2019.

Kenya hopes to replicate similar success by using its arena to benefit from the growing sports, entertainment and events economy that also grows tourism.

Details of the planned project in Nairobi show the centrepiece will be a five-storey, multi-purpose indoor arena with a seating capacity of up to 10,000 people, depending on the event configuration.

The sports arena is designed to accommodate sporting activities such as basketball. However, the document shows the facility is also planned for conferences, banquets and other events, giving it a wider commercial use beyond sports.

The arena will have an estimated built-up area of 11,680 square metres, comprising 5,575 square metres for seating and arena functions and another 4,045 square metres for back-of-house facilities.

The development will be supported by a three-level public podium, with the ground and first floors dedicated to parking.

The second floor will provide the main public realm, including a central pedestrian boulevard connecting different parts of the development.

The plans also provide for retail outlets, restaurants, food and beverage facilities, leisure uses, sports-related public activation zones and a public plaza for spectators and visitors.

An amphitheatre and public performance space are also planned alongside parking structures, servicing facilities, landscaping, lighting, wayfinding and smart infrastructure.

The hotel component will comprise a 140-key branded facility, while the serviced apartment tower will provide 70 units. The combination of the sports arena with the hotel, apartment, and parking lot makes the development a mixed-use destination.

The location is intended to give the project access to Nairobi’s main transport corridors while placing it immediately south of the central business district. The site can be accessed through Haile Selassie Avenue, Workshop Road via Bunyala Road and Uhuru Highway.

The project is part of the government’s broader plan to transform the railway station area into an urban centre incorporating commercial, residential and transport infrastructure.

‘The project will contribute to increased government revenue through various tax streams and statutory levies associated with both the construction and operational phases of the proposed development plus long-term land-lease revenue and a gross revenue share to Kenya Railways Corporation,’ the disclosures show.

The Nairobi Railway City is a green city of office blocks, malls, and a light industrial hub aimed at decongesting the city’s central business district, and was initially meant to be completed by 2027.

The project will involve the installation of approximately 45 kilometres of new track in and around the yard of the present central railway station, including fittings and concrete sleepers.

The upgrade will also entail the construction of a new station management block, a new accommodation block to the east of the station entrance, refurbishment of the existing station building, four new passenger platforms, including refurbishment and expansion of the existing platforms, food and beverage outlets, and repurposing and refurbishment of the Easy Coach House heritage building.

The project will further involve the establishment of a new freight marshalling yard at Makadara.

Nairobi is set for a 10,000-seater indoor sports and entertainment arena as part of a $294.49 million (Sh38.14 billion) Railway City development that will mirror Rwanda’s model of using a multipurpose venue to attract major sporting, business and entertainment events.

The planned arena will form the centrepiece of the Meetings, Incentives, Conferences and Exhibitions (MICE) Core Centre being developed at the Nairobi Railway Station area, with a hotel, serviced apartments, retail outlets and other entertainment facilities planned around it.

The development is being undertaken by Guernsey-headquartered Zaria Group through its local subsidiary, Metroarena Development Company.

The project forms part of the wider 172-hectare Railway City redevelopment initiative that seeks to expand the capital’s capacity to host major sporting, business and entertainment events, disclosures on the project showed.

‘By stimulating commercial activity and attracting local and international events, the MICE-Core Arena is expected to catalyse growth in the tourism and MICE economy and investment in the surrounding precincts,’ the disclosure said.

The project will partly draw from Rwanda’s experience. After construction, the Kenyan arena will be operated by QA Venue Solutions, a Zaria Group management affiliate that already manages the 10,000-seat BK Arena and Amahoro Stadium in Kigali.

Management contracts for the Nairobi facility are set on renewable 15-year terms, with the intention that QA Venue Solutions will continue managing the arena indefinitely.

The Nairobi project comes as African cities compete for international sporting tournaments, concerts, conferences and exhibitions, with modern venues increasingly being developed as commercial and tourism assets.

The Democratic Republic of Congo is, for instance, developing a 20,000-seat Kinshasa Arena, which is being positioned as one of Africa’s largest indoor venues. The project, estimated at $105 million (Sh13.6 billion), is designed to host basketball, concerts, exhibitions, and other major events.

The DRC arena will exceed the scale of BK Arena and the Dakar Arena in Senegal (15,000 capacity), both of which have become key assets in attracting international competitions and entertainment programming such as the Basketball Africa League (BAL).

Kenya hopes to benefit from such events. Rwanda’s BK Arena, which cost about $104 million (Sh13.5 billion) and was opened in August 2019, describes itself as the largest fully covered arena in East Africa.

The BK Arena hosted the inaugural BAL season in 2021 and the league’s playoffs and finals in subsequent years. It has also hosted other major entertainment events, including American R and B singer Ne-Yo, who performed at the venue in 2019.

Kenya hopes to replicate similar success by using its arena to benefit from the growing sports, entertainment and events economy that also grows tourism.

Kenya Railways

Kenya Railways’ Nairobi Central Station.

File | Nation Media Group

Details of the planned project in Nairobi show the centrepiece will be a five-storey, multi-purpose indoor arena with a seating capacity of up to 10,000 people, depending on the event configuration.

The sports arena is designed to accommodate sporting activities such as basketball. However, the document shows the facility is also planned for conferences, banquets and other events, giving it a wider commercial use beyond sports.

The arena will have an estimated built-up area of 11,680 square metres, comprising 5,575 square metres for seating and arena functions and another 4,045 square metres for back-of-house facilities.

The development will be supported by a three-level public podium, with the ground and first floors dedicated to parking. The second floor will provide the main public realm, including a central pedestrian boulevard connecting different parts of the development.

The plans also provide for retail outlets, restaurants, food and beverage facilities, leisure uses, sports-related public activation zones and a public plaza for spectators and visitors.

An amphitheater and public performance space are also planned alongside parking structures, servicing facilities, landscaping, lighting, wayfinding and smart infrastructure.

The hotel component will comprise a 140-key branded facility, while the serviced apartment tower will provide 70 units. The combination of the sports arena with the hotel, apartment, and parking lot makes the development a mixed-use destination.

The location is intended to give the project access to Nairobi’s main transport corridors while placing it immediately south of the central business district. The site can be accessed through Haile Selassie Avenue, Workshop Road via Bunyala Road and Uhuru Highway.

The project is part of the government’s broader plan to transform the railway station area into a multi-modal, transit-oriented urban centre incorporating commercial, residential and transport infrastructure.

‘The project will contribute to increased government revenue through various tax streams and statutory levies associated with both the construction and operational phases of the proposed development plus long-term land-lease revenue and a gross revenue share to Kenya Railways Corporation,’ the Kenya Railways Corporation disclosure said.

The Nairobi Railway City is a green city of office blocks, malls, and a light industrial hub aimed at decongesting the city’s central business district, and was initially meant to be completed by 2027.

The project will involve the installation of approximately 45kilometres(km) of new track in and around the yard of the present central railway station, including fittings and concrete sleepers.

DNCITYSKYLINE1412f

An aerial view of Nairobi City overlooking the Kenya Railways Headquarters.

Francis Nderitu | Nation

The upgrade will also entail the construction of a new station management block, a new accommodation block to the east of the station entrance, refurbishment of the existing station building, four new passenger platforms, including refurbishment and expansion of the existing platforms, food and beverage outlets, and repurposing and refurbishment of the Easy Coach House heritage building.

The project will further involve the establishment of a new freight marshalling yard at Makadara yard and the installation of approximately 11km of new track, including fittings and concrete sleepers.

Rapper and songwriter Nyamari Ongegu (Nyashinski) has suffered another setback in a copyright infringement case filed against him by a Nigerian music producer.

The celebrated rapper will now be compelled to produce contract documents on a multi-million-shilling brand ambassador deal he signed with Tecno Kenya in May 2023, potentially revealing how much he was paid under the agreement.

This follows the High Court’s dismissal of an appeal in which Nyashinski had sought to prevent disclosure of the contract and its financial details.

Sources familiar with the deal told Business Daily that the deal that made Nyashinski the face of Tecno’s Camon 20 smartphone was worth about Sh12million.

Nyashinski’s legal troubles in the matter date back to 2023, when Nigerian music producer Sam Are Eliapenda filed a case at a Magistrate’s Court accusing the rapper of infringing his copyright when he entered into the endorsement deal with the Chinese smartphone manufacturer without his consent.

Eliapenda produced the beats for Nyashinski’s hit song Wach Wach, which was prominently featured in Tecno’s Camon 20 marketing campaigns following the endorsement deal.

The producer argued that, as the creator of the music used by Tecno in commercials featuring Nyashinski, he was entitled to a share of the earnings from the contract. Eliapenda told the court that he had unsuccessfully tried to reach an agreement with Nyashinski before turning to the courts.

In his plea, the producer asked the Magistrate’s Court to compel Nyashinski to produce the endorsement contract and related financial records so that the amount he received from the deal could be established.

On August 9, 2024, the court ordered Nyashinski to produce details of the contract, including bank transaction records and royalty reports on the disputed song, to help settle the matter.

The Magistrate’s Court said that the sought contract documents were necessary and relevant for a fair determination of the suit.

Nyashinski, however, moved swiftly to the High Court, filing an appeal on August 21, 2024 against the magistrate’s decision.

He faulted the magistrate’s ruling, arguing that it failed to provide directions, safeguards and/or mechanisms to ensure that his personal data, financials, legal obligations and personal brand are protected from blackmail, extortion, exploitation, fraud and abuse.

The rapper insisted that releasing the documents would expose his trade secrets, putting him at a commercial disadvantage and exposing him to potential losses.

He also faulted the magistrate for incorrectly extending the scope of privity of contract by allowing the music producer to seek the documents he has no contractual rights to access, insisting that the contract document does not bear a material connection to the core issue of the case.

Further, the rapper argued that disclosing the contract and the amount he was paid would breach a non-disclosure clause between him and Tecno. He further insisted that the producer had not given the court a meaningful reason for demanding the contract because he was not a party to the agreement between Nyashinski and Tecno.

But the producer argued back, stating that availing the contract is crucial in determining the losses he has suffered as far as his 50 percent publishing rights of the song Wach Wach, which was heavily used in the promotion of the Tecno Camon 20, is concerned. Eliapenda also accused Nyashinski of contradiction, having initially told the Magistrate Court that there existed no such contract as he was paid in cash.

The High Court initially gave Nyashinski reprieve on the appeal, suspending the execution of the magistrate’s ruling pending the hearing and determination of the appeal.

‘On careful consideration of the application, there is no doubt that the applicant (Nyashinski) stands to suffer loss if no orders are granted in the event the appeal succeeds. That is so because the fear the applicant has will be long realised with no possibility of reversal. Once the documents are released on discovery, then the process intimated to by the applicant will automatically set in motion. The application therefore is merited. There be a stay of execution of the ruling delivered by Hon Selina Muchungi pending determination of the appeal,’ the High Court ruled in 2025.

That reprieve has now been lifted.

Last Friday, the High Court dismissed Nyashinski’s appeal, effectively clearing the way for the disclosure of the documents and ending the temporary stay that had shielded the contract from disclosure.

‘The magistrate exercised proper discretion in finding that the 1st applicant (Nyashinski) and Tecno Mobile should produce the documents requested by the 1st respondent (Sam Are Eliapenda Jedidiah). The Magistrate’s finding was sound in law. Appeal dismissed with costs to the 1st respondent,’ the court ordered.

With the appeal dismissed, the matter now returns to the Magistrate’s Court, where Nyashinski will be required to produce the contract and related financial records.

The documents could reveal the finer details of the Tecno deal, including the financial value attached to the endorsement, before the copyright case proceeds to its substantive hearing and trial.

The bone of contention on the matter is largely pegged on the ownership rights of the song Wach Wach, which was used in a commercial advertisement.

According to the split sheet contract terms – which is a written agreement outlining how ownership and royalties are divided among collaborators on a song – Nyashinski owns 100 percent of the master rights to the song. However, the rapper and the producer split the publishing rights to the song, with each owning 50 percent.

Eliapenda argues that he is entitled to a percentage of the millions Nyashinski made from the endorsement deal, based on his publishing rights ownership of the song.

The producer maintains that Nyashinski cannot claim his rights are superior to his.

‘The rights of the appellant are not superior to the rights of any other persons; thus, the appellant cannot claim privacy after publicly disenfranchising me of millions of shillings through the copyright-infringing advertisement made together with him and the 2nd respondent and now claim privacy,’ he states in his court pleadings.

However, in his defence, Nyashinski maintains his deal with Tecno wasn’t a publishing deal as Eliapenda claims but rather one which included image rights, appearance, video/photo shoots, and social media association.

Nyashinski further argues that, through his company, GETA International, he signed a fair use agreement with Tecno for the use of the song Wach Wach, which he had every right to, as he owns 100 percent Master Rights and didn’t need any consent from the producer.

Bank of Baroda (Kenya) Limited faces attachment of its movable assets after the High Court ordered it to pay Infinity Industrial Park Limited Sh2.99 billion in special damages, escalating a dispute over financing for a planned 200-acre industrial park in Nairobi.

A warrant issued by Milimani High Court Deputy Registrar Stellah Sagwe on September 15 directs Moran Auctioneers to attach the bank’s movable and attachable property unless the amount is paid.

The warrant records the amount currently due as Sh2.99 billion, comprising the damages award, Sh1,500 in further costs and Sh1,500 in collection fees. Attached property may be sold by public auction after the required 15-day notice and proclamation process.

The auctioneer is expected to return the warrant to court by October 15, explaining how it was executed or why it was not. No seizure or sale of bank assets is established by the documents.

The warrant follows a decree in a 2024 commercial dispute pitting Infinity Industrial Park Limited against the bank, in which the court entered judgment for the amount, after Infinity withdrew most of its original prayers.

The legal dispute originates from a Sh1.97 billion bank loan facility advanced in 2019 to finance Infinity’s industrial park development.

The company alleged that delays in releasing charged land and related financing constraints disrupted the project, while the bank maintained that the borrower had fallen into arrears and that it was entitled to retain its security.

Infinity had initially sought orders stopping the bank from selling or interfering with its approximately 200-acre project land in Njiru, along Nairobi’s Eastern Bypass. It sought a Sh650 million facility for a second warehouse cluster or release of 15 acres to obtain financing elsewhere.

It also alleged delays in releasing title documents and land, and sought a payment moratorium, withdrawal of adverse credit-reference listings and damages.

Those prayers were withdrawn through a notice dated August 6, 2026, which the court allowed and adopted. The remaining claim produced the Sh2.99 billion judgment.

The dispute began with the Sh1.97 billion loan facility advanced by Bank of Baroda in 2019. The financing comprised a takeover loan from Equity Bank, a fresh overdraft and a new term loan, secured against several properties.

Infinity told the court that it was developing an industrial park and logistics project for small and medium-sized businesses on land with a projected 15-year development period and capacity for up to 1,000 enterprises. It was designed to provide industrial plots, warehouses and supporting infrastructure for SMEs.

Infinity says it made substantial repayments, including Sh500 million in principal and Sh800 million in interest by December 2023. It says it repeatedly sought restructuring and partial release of charged land to raise funds.

The company says it offered Sh250 million in December 2025 for release of 10 acres, but the proposal was rejected.

The case took a turn after the bank failed to file its defence within the prescribed period, leading to a default judgment in September 2025.

The court also dismissed the bank’s July 2026 attempt to set aside that judgment. The court found the bank had participated in proceedings but failed to comply with court directions.

“The failure to comply with the court’s timeline is not attributable to the absence of formal summons; it is simply a case of non-compliance with a court order,’ the court ruled.

The bank blamed its former lawyers for failing to communicate directions concerning its defence, while maintaining that its intended defence raised issues about the security, amount claimed and loan dispute.

The bank’s position in the wider dispute has been that Infinity defaulted and that it was entitled to exercise its rights as a secured lender.

The dispute has also expanded into a separate fight over the bank’s attempted appointment of joint administrators to Infinity in August, with the company challenging the move in court.

Bank of Baroda (Kenya) Limited faces attachment of its movable assets after the High Court ordered it to pay Infinity Industrial Park Limited Sh2.99 billion in special damages, escalating a dispute over financing for a planned 200-acre industrial park in Nairobi.

A warrant issued by Milimani High Court Deputy Registrar Stellah Sagwe on September 15 directs Moran Auctioneers to attach the bank’s movable and attachable property unless the amount is paid.

The warrant records the amount currently due as Sh2.99 billion, comprising the damages award, Sh1,500 in further costs and Sh1,500 in collection fees. Attached property may be sold by public auction after the required 15-day notice and proclamation process.

The auctioneer is expected to return the warrant to court by October 15, explaining how it was executed or why it was not. No seizure or sale of bank assets is established by the documents.

The warrant follows a decree in a 2024 commercial dispute pitting Infinity Industrial Park Limited against the bank, in which the court entered judgment for the amount, after Infinity withdrew most of its original prayers.

The legal dispute originates from a Sh1.97 billion bank loan facility advanced in 2019 to finance Infinity’s industrial park development.

The company alleged that delays in releasing charged land and related financing constraints disrupted the project, while the bank maintained that the borrower had fallen into arrears and that it was entitled to retain its security.

Infinity had initially sought orders stopping the bank from selling or interfering with its approximately 200-acre project land in Njiru, along Nairobi’s Eastern Bypass. It sought a Sh650 million facility for a second warehouse cluster or release of 15 acres to obtain financing elsewhere.

It also alleged delays in releasing title documents and land, and sought a payment moratorium, withdrawal of adverse credit-reference listings and damages.

Those prayers were withdrawn through a notice dated August 6, 2026, which the court allowed and adopted. The remaining claim produced the Sh2.99 billion judgment.

The dispute began with the Sh1.97 billion loan facility advanced by Bank of Baroda in 2019. The financing comprised a takeover loan from Equity Bank, a fresh overdraft and a new term loan, secured against several properties.

Infinity told the court that it was developing an industrial park and logistics project for small and medium-sized businesses on land with a projected 15-year development period and capacity for up to 1,000 enterprises. It was designed to provide industrial plots, warehouses and supporting infrastructure for SMEs.

Infinity says it made substantial repayments, including Sh500 million in principal and Sh800 million in interest by December 2023. It says it repeatedly sought restructuring and partial release of charged land to raise funds.

The company says it offered Sh250 million in December 2025 for release of 10 acres, but the proposal was rejected.

The case took a turn after the bank failed to file its defence within the prescribed period, leading to a default judgment in September 2025.

The court also dismissed the bank’s July 2026 attempt to set aside that judgment. The court found the bank had participated in proceedings but failed to comply with court directions.

“The failure to comply with the court’s timeline is not attributable to the absence of formal summons; it is simply a case of non-compliance with a court order,’ the court ruled.

The bank blamed its former lawyers for failing to communicate directions concerning its defence, while maintaining that its intended defence raised issues about the security, amount claimed and loan dispute.

The bank’s position in the wider dispute has been that Infinity defaulted and that it was entitled to exercise its rights as a secured lender.

The dispute has also expanded into a separate fight over the bank’s attempted appointment of joint administrators to Infinity in August, with the company challenging the move in court.

Rapper and songwriter Nyamari Ongegu (Nyashinski) has suffered another setback in a copyright infringement case filed against him by a Nigerian music producer.

The celebrated rapper will now be compelled to produce contract documents on a multi-million-shilling brand ambassador deal he signed with Tecno Kenya in May 2023, potentially revealing how much he was paid under the agreement.

This follows the High Court’s dismissal of an appeal in which Nyashinski had sought to prevent disclosure of the contract and its financial details.

Sources familiar with the deal told Business Daily that the deal that made Nyashinski the face of Tecno’s Camon 20 smartphone was worth about Sh12million.

Nyashinski’s legal troubles in the matter date back to 2023, when Nigerian music producer Sam Are Eliapenda filed a case at a Magistrate’s Court accusing the rapper of infringing his copyright when he entered into the endorsement deal with the Chinese smartphone manufacturer without his consent.

Eliapenda produced the beats for Nyashinski’s hit song Wach Wach, which was prominently featured in Tecno’s Camon 20 marketing campaigns following the endorsement deal.

The producer argued that, as the creator of the music used by Tecno in commercials featuring Nyashinski, he was entitled to a share of the earnings from the contract. Eliapenda told the court that he had unsuccessfully tried to reach an agreement with Nyashinski before turning to the courts.

In his plea, the producer asked the Magistrate’s Court to compel Nyashinski to produce the endorsement contract and related financial records so that the amount he received from the deal could be established.

On August 9, 2024, the court ordered Nyashinski to produce details of the contract, including bank transaction records and royalty reports on the disputed song, to help settle the matter.

The Magistrate’s Court said that the sought contract documents were necessary and relevant for a fair determination of the suit.

Nyashinski, however, moved swiftly to the High Court, filing an appeal on August 21, 2024 against the magistrate’s decision.

He faulted the magistrate’s ruling, arguing that it failed to provide directions, safeguards and/or mechanisms to ensure that his personal data, financials, legal obligations and personal brand are protected from blackmail, extortion, exploitation, fraud and abuse.

The rapper insisted that releasing the documents would expose his trade secrets, putting him at a commercial disadvantage and exposing him to potential losses.

He also faulted the magistrate for incorrectly extending the scope of privity of contract by allowing the music producer to seek the documents he has no contractual rights to access, insisting that the contract document does not bear a material connection to the core issue of the case.

Further, the rapper argued that disclosing the contract and the amount he was paid would breach a non-disclosure clause between him and Tecno. He further insisted that the producer had not given the court a meaningful reason for demanding the contract because he was not a party to the agreement between Nyashinski and Tecno.

But the producer argued back, stating that availing the contract is crucial in determining the losses he has suffered as far as his 50 percent publishing rights of the song Wach Wach, which was heavily used in the promotion of the Tecno Camon 20, is concerned. Eliapenda also accused Nyashinski of contradiction, having initially told the Magistrate Court that there existed no such contract as he was paid in cash.

The High Court initially gave Nyashinski reprieve on the appeal, suspending the execution of the magistrate’s ruling pending the hearing and determination of the appeal.

‘On careful consideration of the application, there is no doubt that the applicant (Nyashinski) stands to suffer loss if no orders are granted in the event the appeal succeeds. That is so because the fear the applicant has will be long realised with no possibility of reversal. Once the documents are released on discovery, then the process intimated to by the applicant will automatically set in motion. The application therefore is merited. There be a stay of execution of the ruling delivered by Hon Selina Muchungi pending determination of the appeal,’ the High Court ruled in 2025.

That reprieve has now been lifted.

Last Friday, the High Court dismissed Nyashinski’s appeal, effectively clearing the way for the disclosure of the documents and ending the temporary stay that had shielded the contract from disclosure.

‘The magistrate exercised proper discretion in finding that the 1st applicant (Nyashinski) and Tecno Mobile should produce the documents requested by the 1st respondent (Sam Are Eliapenda Jedidiah). The Magistrate’s finding was sound in law. Appeal dismissed with costs to the 1st respondent,’ the court ordered.

With the appeal dismissed, the matter now returns to the Magistrate’s Court, where Nyashinski will be required to produce the contract and related financial records.

The documents could reveal the finer details of the Tecno deal, including the financial value attached to the endorsement, before the copyright case proceeds to its substantive hearing and trial.

The bone of contention on the matter is largely pegged on the ownership rights of the song Wach Wach, which was used in a commercial advertisement.

According to the split sheet contract terms – which is a written agreement outlining how ownership and royalties are divided among collaborators on a song – Nyashinski owns 100 percent of the master rights to the song. However, the rapper and the producer split the publishing rights to the song, with each owning 50 percent.

Eliapenda argues that he is entitled to a percentage of the millions Nyashinski made from the endorsement deal, based on his publishing rights ownership of the song.

The producer maintains that Nyashinski cannot claim his rights are superior to his.

‘The rights of the appellant are not superior to the rights of any other persons; thus, the appellant cannot claim privacy after publicly disenfranchising me of millions of shillings through the copyright-infringing advertisement made together with him and the 2nd respondent and now claim privacy,’ he states in his court pleadings.

However, in his defence, Nyashinski maintains his deal with Tecno wasn’t a publishing deal as Eliapenda claims but rather one which included image rights, appearance, video/photo shoots, and social media association.

Nyashinski further argues that, through his company, GETA International, he signed a fair use agreement with Tecno for the use of the song Wach Wach, which he had every right to, as he owns 100 percent Master Rights and didn’t need any consent from the producer.