The unaccompanied middle

Some of you did. Most did not. This month has handed everyone who hesitated good reasons to feel wise about it.

On September 11, a gazette notice recorded the administration of GT Flow Limited and Templar Field Limited. You know them by their former names: Twiga Foods One and Twiga Foods. A company that raised over $185 million and was once counted by TIME among the world’s 100 most influential companies entered administration under names invented for the occasion. Copia and Sendy walked the same corridor.

The timing is cruel. The conclusion is obvious. The conclusion is wrong.

Notice what we actually talk about. Starting: pitch nights, incubators, the announcement, the round. Then ending: the collapse, the gazette, the verdict from people who never carried a payroll.

Between those two conversations sits everything that actually happens. Ten years. Fifteen. Twenty. Nobody covers it. Nobody prepares you for it. Nobody comes with you.

Call it the unaccompanied middle.

I started building at twenty-five. I am fifty-one now. In all that time, nobody has described the middle to me honestly, and I no longer think that is an oversight. It cannot be taught in advance. It can only be accompanied, and we have built an ecosystem that does everything except accompany.

So what makes a person begin? Never the business plan. That comes later, assembled to explain a decision already made. What starts a founder is closer to refusal. You see a broken thing and cannot leave it alone. Less ambition than irritation with the world as given.

That energy is the only asset present on day one. Everything else arrives later or never.

Then the middle begins, and the five states stop being a framework and become terrain.

In mindset, belief has to run ahead of evidence for years. Not blind belief. Belief with an honest ledger: conviction held while failures are counted accurately. Founders who cannot do both quit early or lie until the lie becomes the company.

Strategically, you learn the difference between motion and progress, usually by spending two years on the wrong one. Every founder I respect has a season they would like back.

Emotionally, this is where the loneliness lives. It is not the absence of people. Your calendar is full. Nobody in the room carries what you carry. Your team owns a job. Your investors own a position. Your family owns the consequences without the controls. You own the whole of it at three in the morning, and that asymmetry does not resolve with scale.

It grows with it.

Socially, you find out who stays when there is nothing to attend. The ecosystem shows up for launches. The middle is not photogenic, and attendance drops accordingly.

Spiritually, you meet the question that outlasts the others. Why did I begin? If the answer was applause, the middle strips it out because the middle contains none. If the answer was the broken thing you could not leave alone, it holds.

So consider what the gazette cannot record. That $185 million did not evaporate. It moved through farmers, drivers, warehouse staff, landlords, and PAYE. Thousands learned to run logistics at a scale this country had never attempted, and some are building now. An administrator counts assets. Nobody is assigned to count what a country learned.

Failure is not the opposite of this journey. It is a feature of it. The only failure deserving contempt is built on deceit, and that is a matter for prosecution, not for shaming everyone who tried and fell short.

I will not sell you the glamour. It is lonely, it is long, it costs your health if you let it, and the odds are unkind. But I have watched the alternative. People who never began carry a different weight, quieter and heavier, and it does not lift.

So if that January line is still in your notebook, start with the middle in view. Find two builders further along and ask what the years between actually contain. Pick something you cannot leave alone rather than something that looks fundable. And once you are in it, accompany somebody else, because you will be the only one who knows what to say.

We celebrate the beginning. We autopsy the end. The middle is where the founder is made, and it is the one stretch nobody walks with you.

Investors extend mini-malls frenzy amid youth influence

Commercial property developers in Kenya have stepped up construction of mini-malls, extending a real estate trend influenced by the consumer habits of a youthful population that sees the retail spaces as places for social connection and experiences, rather than just places for shopping.

A new market report by Knight Frank shows that investors have a pipeline of 645,300 square feet (sq ft) of upcoming mini-malls due for completion over the next three years.

A mini-mall is a shopping complex containing a row of various stores, businesses, and restaurants that usually open onto a common parking lot. Each of the retail outlets in a mini-mall is accessed from the outside rather than from an interior hallway.

‘The retail development pipeline remains dominated by neighbourhood and mid-sized shopping centres of approximately 30,000-100,000 square feet, reinforcing the market’s shift towards community-based retail,’ said Knight Frank.

‘These developments are increasingly anchored by supermarkets occupying relatively smaller floor plates and are designed to serve day-to-day consumer needs, reflecting continued demand for convenience-oriented retail formats.’

The pipeline includes Hookwood Square in Brookside, Westlands, with 60,000 sq ft, Maisha Mall in Tilisi with 32,300 sq ft, and Hurlingham Mall in Kilimani with 100,000 sq ft, all set for completion before the end of 2027.

Others include Talanta Mall in Dagoretti, accounting for the largest share of the pipeline at 323,000 sq ft, scheduled for completion in 2029, Lavington Square (70,000 sq ft) and Elgon Mall (60,000 sq ft), set for completion by the end of this year.

Knight Frank also noted that during H1 2026, the completion of the 100,000 sq ft expansion of Galleria Mall in Karen added new retail space to the market.

The expansion comes as consumer behaviour continues to shift towards convenience, accessibility and hyper-local shopping.

Retail strip malls, or strip centres, are transforming the shopping landscape in Kenya.

These open-air retail spaces, which consist of several stores aligned together with direct access to parking, present a convenient alternative to traditional shopping malls.

Mini-malls or strip malls, which typically range from 5,000 sq ft to 100,000 sq ft depending on location and purpose, are prominent in other developed nations such as the United States but are making their way into Kenya’s capital despite competition from larger and more established malls.

These locations are typically smaller than regular malls, with accessible parking near main high-ways.

Their growing appeal reflects a global trend towards accessible and cost-effective retail environments that cater to changing consumer preferences. The advantages of strip malls set them apart from enclosed shopping centres.

For store owners, strip malls provide reduced operational costs, as expenses related to common area maintenance are substantially lower. This cost-effectiveness allows businesses to offer competitive prices, making these retail centres enticing for customers.

Strip malls are also better equipped to withstand the impact of e-commerce growth, as they typically host essential service providers such as pharmacies, medical clinics and grocery stores, which necessitate physical visits.

As residential communities expand beyond established city centres, demand is rising for retail destinations that combine supermarkets, restaurants, pharmacies, financial services and other everyday amenities within easily accessible locations.

Developers are increasingly targeting residential catchment areas with smaller, well-designed retail centres that allow consumers to access essential goods and services closer to where they live and work, rather than relying solely on large regional malls.

A few years ago, developers focused on larger malls with an average size of 300,000 to 500,000 square feet or more.

The trend has shifted to more community-based retail outlets and strip malls, evident in rapidly developing satellite towns and suburban areas, where population growth and new housing developments are creating new consumer catchment areas.

Developers are betting that smaller retail centres can also offer them an opportunity to respond more quickly to local demand while requiring less capital and space than traditional large-scale shopping malls.

The growing emphasis on smaller retail formats could reshape Kenya’s commercial property landscape, particularly as developers seek locations with strong residential growth and reliable day-to-day consumer traffic.

Among the constructed strip malls, supermarkets remain key anchors, while complementary ten-ants such as eateries, personal-care businesses, healthcare providers and financial services help create diversified neighbourhood destinations.

We must design homes that bring people together and build stronger communities

As Kenya sets world records for digital use, more of everyday life is moving online, increasing the risk of isolation within homes and communities.

The Global Wellness Institute reports that Kenyans spend more time on social media than people in any other country, with 20 percent averaging more than six hours a day. It also ranks Kenyans as the world’s heaviest users of artificial intelligence tools. Gallup, meanwhile, found that 26 percent of Kenyan employees experienced loneliness for much of the previous day.

Banking, shopping, entertainment, work and social interaction can increasingly happen without leaving home. While this convenience has improved daily life, it has also reduced the everyday encounters through which neighbours become familiar and communities take shape.

As Kenya sets world records for digital use, more of everyday life is moving online, increasing the risk of isolation within homes and communities.

The Global Wellness Institute reports that Kenyans spend more time on social media than people in any other country, with 20 percent averaging more than six hours a day. It also ranks Kenyans as the world’s heaviest users of artificial intelligence tools. Gallup, meanwhile, found that 26 percent of Kenyan employees experienced loneliness for much of the previous day.

Banking, shopping, entertainment, work and social interaction can increasingly happen without leaving home. While this convenience has improved daily life, it has also reduced the everyday encounters through which neighbours become familiar and communities take shape.

Abandoned cash haul increases to Sh125bn in eight months

Kenya’s unclaimed financial assets fund has grown by 8.41 percent (Sh10 billion) in eight months, reflecting a growing trend of citizens losing track of their wealth, as holding companies ramped up reporting compliance to avoid a 25 percent financial penalty.

Latest disclosures by the Unclaimed Financial Assets Authority (Ufaa) show the value of abandoned wealth remitted to the State-owned agency to date surged by Sh9.7 billion to Sh125 billion from Sh115.03 billion in December 2025.

However, only Sh3.12 billion, equivalent to 2.49 percent of the total unclaimed assets remitted (Sh125 billion), has been reunited to the beneficial owners.

Section 33 of the Unclaimed Financial Assets Act (2011) provides that failure to report and surrender qualifying unclaimed financial assets by November 1 of each year attracts penalties and sanctions of 25 percent of the unclaimed financial assets held.

In addition, failure of a holder to willingly and fully report any unclaimed financial assets under their custody renders them liable for a penalty of Sh7,000, but not more than Sh50,000 for each day the report is held.

These dormant assets include forgotten wealth comprising idle bank accounts, uncollected insurance payouts, abandoned shares and dividends, and dormant mobile money accounts.

Faced with heavy penalties for holding onto dormant accounts, commercial banks, listed companies, insurance firms, and telecommunication companies have accelerated their reporting and remittance of the dormant assets.

Ufaa began receiving unclaimed financial assets from holders in 2014 and reuniting them with beneficiaries in 2016.

However, the Auditor General, in a report dated August 2025, says the rate of unification is still significantly low.

Ufaa has lined up a raft of policy changes, including easing penalties and extending the dormancy period, in a bid to mop up idle resources in the country.

The authority is seeking to extend the time listed companies and saccos have to look for the rightful owners of dividends by two years before such assets can be declared abandoned and handed over to the agency.

The Unclaimed Financial Assets (Amendment) Bill proposes that shares and dividends be presumed abandoned after five years, up from the current three years.

Dividends are deemed abandoned when payouts fail to reach intended owners due to outdated contact details, uncashed physical cheques, or inactive bank accounts.

Listed firms and saccos will now have more time to locate the owners of the financial assets before turning them over to Ufaa which has an even harder task of identifying the investors whose details it gets from third parties.

As of June this year, listed companies had submitted Sh5.3 billion to the authority, leaving more than Sh8.5 billion in unclaimed dividends in their books. Saccos had remitted Sh160 million to the authority, leaving them holding Sh16.5 billion worth of unclaimed dividends.

Ufaa is also looking to soften penalties levied on companies that have idle resources in their books to encourage them to voluntarily submit what they are holding.

The Bill proposes a penalty of 25 percent of the value of unremitted assets, a departure from the current law, which has three types of penalties.

Non-compliant companies are charged 25 percent of the unsurrendered unclaimed assets and are levied a penalty of between Sh7,000 and Sh50,000 for each day that the assets stayed before being submitted.

An interest of one percent per month is also charged on the unclaimed assets based on the assumption that the resources were earning the company a return.

Executives of the non-remitting company can also be penalised with a sum of up to Sh 1 million for the non-remittance and could be imprisoned for a period not exceeding a year.

A survey conducted last year showed unclaimed assets valued at Sh394.9 billion are yet to be remitted to Ufaa, which has only received Sh125 billion in shares and cash.

Commercial banks are said to hold the largest share of unremitted assets, at Sh133.8 billion. The manufacturing sector holds Sh24.2 billion in unremitted wages, according to the survey, while universities have Sh8.3 billion associated with caution money deposited with the institutions by first-year students.

Pet owners rethink budgets on unexpected care costs

When one of her cats fell sick, first with diarrhoea, then later with calicivirus, Joan Bingi did not see the bill coming. By the time treatment was done, she had spent Sh18,500. It remains the biggest bill she has paid in more than a decade of keeping cats.

“The one thing that I had not anticipated about becoming a pet owner is their treatment costs,” she says. “These include vaccines as well as boosters.”

Joan has four cats now, two adults and two kittens, and her monthly spending shifts depending on who needs what. She got her oldest cat in 2014, after a stray wandered into the family compound.

She spends about Sh4,500 a month on the four cats, though the figure goes up when kittens are in the mix. Most of it goes to food. A large compound helps her avoid heavy litter costs, since the cats have room to roam.

For years, healthcare was not a concern. Her cats stayed healthy, and she assumed that would continue.

“I guess there was a kind of protective bubble around me because the first time any of my cats fell sick was like five years later in 2020,” she says. “After that, it’s like the bubble burst. I was paying for treatments year in and year out .”

She now budgets roughly Sh3,500 a month for food and tries to put aside another Sh500 to Sh700 for vaccines and treatment. When that is not enough, she dips into her personal savings. “Health-wise, I spend more on my cats than myself, but it’s my love for them that enables me to do so,” she says.

Build a dedicated fund

Joan’s experience is exactly what Joyce Gikonyo, a financial advisor at ICEA LION Group, sees as the biggest blind spot for pet owners. People budget for food, but medical costs catch them off guard, especially as an animal ages.

“Medical emergencies such as surgery can cost hundreds of thousands of shillings,” Joyce says. “As animals age, they can also develop chronic conditions requiring regular medication and specialised care.”

Her advice is to build a dedicated fund for the pet before the bills arrive, not after. “Have a seed amount as a starting safety net; this depends on all the variables outlined above. Build on the fund monthly,” she says.

William Papateti, a 29-year-old accountant and creative professional, learned a version of that lesson without the big bill. His cat once fell four floors and broke its leg. He braced for an expensive vet visit, but nature took its course.

“He rested for two days, only eating and pooping, then the leg healed on its own,” William says.

His routine costs are more predictable. He spends about Sh2,500 a month, with a kilo of dry food lasting a month at Sh765, wet tuna packets at Sh100 each for about five packets, and litter at Sh1,250. He has also bought toys and accessories, a neck bandana, catnip, a scratcher, a nail cutter and a ball, ordered from China through AliExpress for about Sh1,000. He has skipped neutering, which would cost roughly Sh7,500.

His advice to anyone thinking about getting a cat is to set aside about Sh3,000 a month “for the cat to be comfortable and happy.”

Joyce says this kind of routine spending is exactly what should be separated from the occasional, unpredictable costs when a household plans a pet budget. Recurring items like food and litter can be forecast with some accuracy, she says, while medical and emergency costs need their own cushion. She points to money market funds as one practical tool for owners.

“Money Market Funds are useful tools that can help separate the pet expenses from the domestic ones,” she says.

Sh25,000 monthly

Gilbert Otieno’s expenses sit in a different bracket altogether. He owns two Siberian Huskies, Tiana and Bella, and paid Sh90,000 and Sh100,000 for them, respectively. Tiana is two years and two months old. Bella is one year and four months old. He bought both as puppies, drawn in by the breed’s blue eyes.

The purchase price was only the start. Gilbert spends up to Sh25,000 a month on food and vaccines, depending on the dogs’ age and needs. Puppy vaccinations cost more early on. Now that both dogs are adults, annual vaccinations run about Sh10,000, and a typical month costs him roughly Sh15,000 for food and vaccines combined.

His biggest single expense came when Tiana developed an ear infection after swimming and needed an urgent vet visit. The bill topped Sh15,000, and he did not have the cash on hand at the time. “I had to find a way to take her for a vet check-up,” he says.

That scare pushed him to start keeping an emergency fund, especially since Huskies, he says, have a habit of eating things that are toxic to them.

The smaller costs- treats, chew toys, cleaning products, leashes and grooming supplies- add up in ways he did not plan for. Keeping the dogs entertained is its own expense too. Walks are free, but toys and enrichment items are not, and Huskies need both regularly.

“I wish I had understood how much the smaller expenses add up. Especially toys, leashes and grooming products. Not to mention the commitment,” he says.

Pet insurance

This is precisely the kind of gap Joyce flags when she tells clients to think beyond the animal’s purchase price. Food, medical care, grooming, housing, and items such as beds, leashes and toys should all be part of the initial calculation, she says, along with training costs and the risk of property damage. She also recommends pet insurance as a safeguard against a bill like the one that caught Gilbert off guard.

Arvin Munyiri Murimi’s costs are more modest, but still caught him off guard. The 28-year-old senior art director, who calls himself a cat dad, spends between Sh2,000 and Sh5,000 a month.

“What I failed to budget for was the food and cat litter, especially with the cat being a house cat,” he says.

His cat has stayed largely healthy aside from routine deworming.

“I think it’s greatly attributed to the fact that he has a good diet. Apart from that one time I spent Sh5,000 on medication and specialised food,” Arvin says.

He is reluctant to set a fixed monthly minimum, arguing that cost depends heavily on how the animal lives. “It depends if it’s a house cat or one that goes out and comes around to sleep,” he says.

Ms Gikonyo says that variability is normal, and it is exactly why she tells owners to build their pet budget around their own animal’s circumstances rather than a generic figure. Food costs shift with an animal’s size, breed and health. Grooming needs depend on the breed. An indoor cat and an outdoor cat will never cost the same to keep, even within the same species.

She further advises pet owners to separate recurring costs from occasional and discretionary ones, cut spending where it is safe to do so, such as buying food in bulk or grooming pets at home, and keep the pet’s finances apart from the household’s day-to-day money.

Rethinking container inspection at the port gate

Container inspection is a routine part of port operations. But routine processes deserve scrutiny when they are repeated at scale.

At a busy container terminal, a truck arrives at the gate, stops for inspection, and the container is checked for visible damage, seals, and labels before the vehicle proceeds. Each transaction may take only a few minutes. Across hundreds or thousands of trucks, however, those minutes can affect truck turnaround and gate capacity.

This raises a practical question: can routine container inspection be automated without compromising control?

The Port of Helsingborg in Sweden provides an instructive example.

In July 2025, the port introduced automated damage inspection at its Central Gate. Cameras capture containers as trucks pass through, while artificial intelligence analyses the images for visible external damage and checks for the presence of seals and labels. Routine manual inspection is reduced, while exceptions can still be referred for further inspection.

The significance lies not simply in the use of cameras at a port gate. Automated imaging and gate systems are not new. The important development is the use of AI to support a different inspection model: rather than manually inspecting every container in the same way, technology can screen the containers as they gate in and direct human attention only to specific containers that require closer examination.

The value of better information

Container condition matters because damage can become a source of disputes between terminals, shipping lines, hauliers, cargo owners and other stakeholders.

A digital record of a container’s condition at the gate can provide evidence of what was observed and when. It does not eliminate disputes, but it can improve the information available when they occur.

This is where AI inspection becomes more than an automation project.

If inspection results can be connected to the terminal operating system, electronic records, and gate processes, inspection becomes part of the wider cargo transaction. The container is identified, its condition is assessed, the result is recorded, and the system determines whether it can proceed or requires further attention.

The objective is not necessarily to remove human inspectors. It is to use them where human judgement is most valuable.

What does this mean for Nigeria?

Nigeria and other African markets are already investing in port digitalisation. But digital infrastructure alone does not necessarily produce operational efficiency. The value depends on how effectively different systems and processes work together.

For a Nigerian terminal considering AI-powered container inspection, the starting point should therefore not be the technology. It should be an operational problem.

How much time does inspection add to a gate transaction? How many containers are processed each day? Where are the biggest sources of delay? How frequently do container damage disputes occur? What is the cost of those delays and disputes?

Only then should a port assess the technology and its potential return.

There are also practical considerations. The system must work reliably across different weather and lighting conditions. It must integrate with existing gate and terminal systems. A clear process for handling exceptions, along with appropriate human oversight, is required.

A pilot deployment at a high-volume gate or terminal could provide the evidence needed to determine whether such an investment makes operational sense.

Integration is the bigger opportunity.

The wider lesson is that ports should avoid treating automation as a collection of standalone projects.

An AI inspection system has greater value when it connects with other parts of the port ecosystem. Gate activity, truck appointments, terminal operations, cargo information, and inspection records can become part of a more connected operating process.

Nigeria already has local technology companies developing capabilities around this kind of integration. WATT, for example, is developing intelligent mobility infrastructure focused on connecting technology, data, and physical operations across the logistics chain. That kind of capability will become increasingly relevant as ports move from isolated automation projects towards integrated operating models.

The opportunity, therefore, is not simply to introduce AI at the gate. It is to create an environment in which the information generated by AI can trigger the right action, promptly, elsewhere in the port.

For African ports, the objective should not be to copy Helsingborg. It should be to identify where manual processes create avoidable delays, inconsistent information, or unnecessary intervention, and determine whether technology can address those specific problems. AI-powered container inspection may be one such opportunity.

The more important question is whether ports are prepared to examine their existing processes closely enough to know where automation will create measurable value.

That is where the next wave of port efficiency gains is likely to emerge: not from technology for its own sake, but from technology applied to clearly defined operational challenges.

IFAD commits additional Sh7bn to expand Kenya livestock programme

The International Fund for Agricultural Development (IFAD) is set to give Kenya Sh7.1billion ($55mn) fresh financing to help farmers raise productivity and gain access to better markets.

IFAD Country Director and representative for Kenya, Matteo Marchisio, said the executive board of the UN’s specialised agency approved the additional financing for the Kenya Livestock Commercialisation Programme (KeLCoP).

‘The IFAD Executive Board approved today additional financing of approximately Sh7.1 billion (US$55 million) for the Kenya Livestock Commercialisation Programme,’ Mr Marchisio said in a statement.

The International Fund for Agricultural Development (IFAD) is set to give Kenya Sh7.1billion ($55mn) fresh financing to help farmers raise productivity and gain access to better markets.

IFAD Country Director and representative for Kenya, Matteo Marchisio, said the executive board of the UN’s specialised agency approved the additional financing for the Kenya Livestock Commercialisation Programme (KeLCoP).

‘The IFAD Executive Board approved today additional financing of approximately Sh7.1 billion (US$55 million) for the Kenya Livestock Commercialisation Programme,’ Mr Marchisio said in a statement.

Investors lose Sh93bn in Kenya startup failures

Kenyan startup Twiga Foods has entered administration amid financial turmoil, joining a group of 13 once-promising ventures that have collapsed over the past five years after raising capital in excess of Sh93 billion.

The business failures, including that of Koko Networks, Lipa Later and Copia, highlight the heavy losses that financiers and investors, mostly venture and private equity firms based in Western countries, have suffered.

The collapse of the young businesses has also rendered thousands of Kenyans jobless, with the firms typically engaging in a hiring blitz with a plan to gain scale and reach profitability.

Twiga Foods operated a business-to-business (B2B) marketplace that sourced farm produce directly from farmers and delivered it to urban retailers.

Mohamed Mohamed of Maawiy Financial Advisory Limited was appointed administrator of GT Flow Limited, formerly known as Twiga Foods One Limited, on August 17.

Twiga Foods attracted $185.4 million (Sh24 billion) from investors, according to the global business database Crunchbase. Its backers include the French investment firm Creadev.

It is the latest in a series of heavily funded Kenyan startups that have collapsed, been placed under administration, or wound up after struggling to raise more money, achieve profitability, or cope with difficult market conditions.

A Business Daily analysis shows Twiga Foods is among 13 ventures to collapse in the past five years after collectively raising $717.5 million (Sh93 billion) from investors.

E-commerce startup Copia, which raised $123 million (Sh15.9 billion), failed to secure additional funding as 2024 began, putting it under financial strain.

Copia provided a platform for rural consumers to order products delivered through agents.

In May 2024, the company cut more than 1,000 jobs and warned of a looming shutdown before being placed under administration.

Copia was backed by the Kenyan venture capital firm Enza Capital and UK’s Lightrock.

Clean cooking startup Koko Networks, which had raised more than $100 million (Sh13 billion), was placed under administration in February 2026 on the brink of bankruptcy.

Koko Networks sold heavily subsidised bioethanol stoves and fuel to low-income households.

The company recouped losses through carbon credit sales in global compliance carbon markets.

Koko Networks filed for administration after Kenyan authorities refused to issue it a letter of approval to sell carbon credits, leaving over 700 direct staff and thousands of refilling agents jobless.

Its investors include Microsoft’s Climate Innovation Fund and French asset manager Mirova.

Another casualty has been Lipa Later, a technology credit venture that raised $16.6 million (Sh2.1 billion) and was placed under administration in March 2025 amid undisclosed financial woes.

Lipa Later was backed by Cauris Finance and Lateral Frontiers and had over 200 staff and a network of about 1,000 agents.

Gro Intelligence, an agriculture and climate data company, raised $117.7 million (Sh15.2 billion) before shutting down operations in June 2024.

The company provided AI-powered data analytics, satellite imaging, and predictive models focused on agriculture and climate risk.

In March 2024, the company laid off 60 percent of its workforce before shutting down operations after failing to secure sufficient capital.

Carmaker Mobius Motors shut down operations in August 2024 and sent over 40 workers home amid mounting debts and a multi-million-shilling tax dispute, which pushed it into voluntary liquidation.

By August 2020, it had a debt of Sh649.2 million and a shareholders’ deficit of Sh389.1 million. The company had raised $56 million (Sh7.3 billion) from investors such as Kepple Africa Ventures.

Mobius was later acquired in bankruptcy in 2025 by Silver Box, a Middle Eastern firm.

Agritech startup iProcure, which raised $17.1 million (Sh2.2 billion), was placed under administration after filing for bankruptcy in April 2024.

The business-to-business (B2B) platform connected agricultural input suppliers directly with local agro-dealers.

Logistics startup Sendy, which raised $24.7 million (Sh3.2 billion), closed in 2023 after running out of money and failing to find a buyer, sending home over 200 staff.

Sendy operated an app linking delivery drivers with customers. Its investors include the Toyota Tsusho Corporation.

Another B2B e-commerce startup, MarketForce, raised $84.1 million (Sh10.9 billion) before winding up in April 2024.

The company enabled informal retailers to order fast-moving consumer goods from distributors and manufacturers. It was backed by V8 Capital Partners, among others.

Kune Foods shut down in June 2022, barely a year after starting operations. It offered ready-to-eat affordable meals and had raised $1 million (Sh129 million).

Wefarm, which raised $32 million (Sh4.1 billion), shut down in 2022 due to difficult market conditions and scaling challenges. Wefarm operated a farmer-to-farmer digital network that enabled users to share information via SMS.

E-commerce firm Zumi shut down in March 2023 after raising $1 million (Sh129 million).

Notify Logistics also shut down in August 2022 after raising $374,000 (Sh48.4 million).

The failures have come despite large investments in Kenyan startups over the past decade.

In 2025, Kenya was Africa’s leading venture capital destination, when startups raised $984 million (Sh127.5 billion), according to the startup funding tracker Africa: The Big Deal.

For venture capitalists, however, startup collapses are factored into the funding strategy, where a small number of successful companies pay for a high rate of failures.

Cost pressures weigh on Legend Internet profit despite N4.14bn asset base

Legend Internet Plc continued to strengthen its balance sheet in the twelve months ended July 31, 2026, with total assets rising 29 percent to N4.14 billion from N3.21 billion a year earlier.

The internet service provider disclosed the performance in its unaudited management financial statements for the period, filed with the Nigerian Exchange Limited (NGX).

The expansion reflects continued investment in infrastructure and increased access to financing, although higher costs are weighing on earnings.

The company Legend reported a profit of N13.2 million for the period, down from N142.5 million in the previous year due to infrastructure acquisition costs, administrative expenses and financing-related pressures.

Analysts said Legend Internet’s ability to translate its expanded asset and financing base into stronger revenue growth, while bringing administrative and financing costs under control, has strong potential to restore profitability and improve shareholder returns.

Total assets increased by N929.4 million during the year, driven largely by a significant increase in current assets, which rose to N1.65 billion from N597.8 million. The stronger liquidity position provides the company with additional capacity to support operations and fund near-term growth initiatives.

Despite a decline in revenue, Legend Internet maintained a relatively strong gross profit position. Revenue fell to N1.10 billion from N1.19 billion, while gross profit moderated to N714 million from N761.4 million. This translated to a gross margin of approximately 65 percent, underscoring the resilience of the company’s core operating economics despite softer top-line performance.

The company’s infrastructure base also remained substantial, with property, plant and equipment valued at N2.47 billion at the end of the reporting period. Legend Internet invested an additional N49.6 million in property, plant and equipment during the year, highlighting its continued commitment to expanding and maintaining its network capacity.

Legend recorded a net cash inflow of N1.07 billion from financing activities, following proceeds from loans, term loans and commercial paper, partly offset by loan repayments. The increased financing provides additional resources for expansion, but also raises the importance of effective debt and financing-cost management as the company scales.

For investors, the key question will be whether the company can convert its enlarged asset and financing base into stronger revenue growth and improved earnings. Sustained investment in infrastructure could provide a platform for future expansion, but tighter control of administrative and financing costs will be critical to translating balance-sheet growth into shareholder returns.

How three Kenyans turned hustles into Dubai businesses

Yuvinalis Japhet is in his Dubai office, phone in hand, confirming a desert safari booking for the next morning. On the wall behind him hangs framed photos of his fleet: A Toyota Land Cruiser Prado, a Land Cruiser LC300, a Hyundai Tucson, and a 37-seater bus he bought last year.

“This is my whole fleet right now,” says the 34-year-old.

It is a long way from where he started.

Japhet landed in the United Arab Emirates (UAE) in the winter of 2016, one face in a busload of Kenyans, Ugandans and Tanzanians driven straight from the airport to a labour camp in Sonapur (‘City of Gold’), a district nearly 15 kilometres east of Dubai.

“I think there were 32 of us, all hired by Transguard, a company that supplied workers to hotels and food companies,” he says.

Four men shared a room, sleeping on bunk beds like boarding school students in a dormitory far from home. He started as a kitchen steward, then spent six months as an outdoor waiter at the five-star Atlantis Hotel.

“My pay was around Sh28,000 a month,” he says. The job came with free transport, accommodation and meals, so he saved much of the pay.

In November 2017, he enrolled for driving lessons and got his licence the following May. By 2019 he was driving taxis for a local company, hoping for better terms. Instead, he found work with no basic salary, built entirely on commission. “If you don’t work, you don’t get paid,” he says.

Fines cut deep into his earnings. Some were as high as Sh15,000 for something as small as forgetting to buckle up. In his best month, he took home close to Sh28,000. But the job taught him the country inside out.

“I was so familiar with the country that even if I was to start something, I already knew what I should do and where I should start,” he says.

An idea and an expensive lesson

The idea for his company began forming while he ferried fellow Kenyans across the seven emirates. He started a WhatsApp group for monthly road trips, a way to fight loneliness, that slowly turned commercial. Before it could grow, trouble found him. Frequent fines got his licence suspended for six months.

He leaned on savings and sold Kenyan hoodies, bracelets and foodstuffs like unga and omena to homesick countrymen. During that stretch, he bought his first car, a used Mitsubishi Lancer, for about Sh250,000, and used it for side hustles and airport pickups.

When he eventually went to sort his paperwork, he discovered his old taxi company had marked him as absconded, a serious immigration offence. A local Emirati contact helped settle the matter, but it cost him nearly Sh1 million to clear the fines and lift the flag from his file.

“It was one of the most expensive lessons,” he says.

With his name cleared, Japhet registered Al Badoor Project Management Services, sponsoring freelance visas for people wanting to live or work in the UAE.

“Clients paid for their visa, I covered the government fees, and the difference became my income,” he says.

In May 2022, he registered it as a tourism company, Yuvinalis Tourism LLC, and turned his road trips into a proper business. “The tourism licence alone cost about Sh800,000, and it has to be renewed every 12 months,” he says.

His office contract cost about Sh1.1 million a year, paid partly through post-dated cheques. Insurance added roughly Sh80,000, and furnishing the office another Sh600,000. “In total, I spent more than Sh2.2 million just to get the company started,” he says, all from saved commissions, without a single bank loan.

His fleet grew one vehicle at a time, bought whenever the business earned enough.

Today, Yuvinalis Travel and Tours runs desert safaris, city tours, Burj Khalifa visits and dhow cruises.

Packages start from about Sh190,000 for four nights of accommodation and select activities. Seventy percent of his clients are Kenyan, he says, loyalty built on word of mouth rather than advertising.

Running his own company has tested his patience in ways employment never did.

“Sometimes I feel like giving up, because it can be overwhelming,” he admits, before adding that the reward outweighs the frustration once things are managed properly.

His advice for aspiring entrepreneurs is simple. ‘Know your market before making anything official, keep enough cash saved to survive the slow months, and treat every early mistake, even the expensive ones, as a lesson rather than a failure.’

Seven years into the tourism business, Japhet is now eyeing a Mombasa branch and an expansion into Qatar.

Hobby that became good business

Across the same city, Juma Abubakar Osore built his business out of a hobby. At 57, he runs a free zone company, handling import and export, training, and travel consultancy, all from one desk.

His path there was never planned. Juma spent 16 years at Emirates airline before the Covid pandemic cost him his job.

“When I was off duty, I could buy things, take them to the Somalis, they’d ship them, and I’d learn how the business works,” he says.

It started with suits for lawyers and politicians back home. “I started posting suits on my social media status, and before I knew it, two or three people would want to buy a suit from me,” he says.

That small demand pulled him toward cars and machinery, work he found more interesting than clothes.

When Emirates let him go, Juma made a decision to pursue his hobby full time. “I would rather do my own thing that I’m proud of, something I can use to help myself, and maybe the generations to come.”

He registered the company in 2020, a year after leaving Emirates. The startup capital was modest.

“I started with about Sh493,000 for the licence and one visa,” he says. Adding five work visas pushed the total closer to Sh880,000. Each new employee adds another Sh70,000 to Sh88,000, depending on the quarter.

His business now runs on three pillars. The first is e-commerce, mostly spare parts moving between Kenya and the UAE. The second is training, arranged in house or outsourced. The third is travel consultancy, helping Kenyans plan trips with hotel bookings and itineraries across Dubai, Abu Dhabi and Sharjah.

Juma sources containers imported in bulk from Japan, sold through auctions once they land.

“If I get an enquiry for, say, a Toyota part, and I know of a container coming in with that part, I’ll go source it, or find people who’ve been in the auction and buy from them,” he says.

Volumes shift constantly, sometimes a tonne or two, sometimes far less, and he often consolidates shipments with other buyers to fill a container.

Delivery delays are his most common complaint, though he now offers faster couriers like Aramex or DHL for urgent, smaller items.

Competition comes from rivals sourcing directly from Japan and undercutting his prices, but Juma insists his edge is quality. “We test the engines and get the best quality from Japan, as opposed to those who buy in bulk without testing,” he says.

Moving large sums of money creates its own headaches, since banking limits force him to split big payments into several transactions.

His secret for success is quite open.

“You need to be truthful, and commit to what you say. Trust, once broken, is hard to rebuild in a market built almost entirely on referrals.’

Looking ahead, he wants to set up a storage yard in Kenya so clients no longer wait for items sourced one by one from Dubai, a plan he expects to pursue once the next election cycle back home settles.

From DJ to concert promoter

George Otieno, known to friends as Geo Ogango, built his venture the loud way, one stage light and one packed dance floor at a time.

Geo was a young man in Nairobi when he first felt the pull of music and crowds, spinning vinyl in small clubs in the 90s. He remembers a 1990 dance competition at the Kenyatta International Convention Centre where the prize was a Fiat Uno.

He didn’t win it, but the memory stuck. “I think that was the background of my entertainment journey,” he says.

Weekends pulled him to Kisumu, where he fell for Ohangla music, dancing to Tony Nyadundo at the Sunset Hotel, who later became his friend. That friendship turned into a business idea when Geo convinced Tony to perform in Nairobi. He opened a small shop and began promoting shows, funding them from his day job. “I was just spending, and in the process, I saw this was a good business,” he says.

Geo arrived in the UAE in 2012, planning to stay a year. “Once you’re out here, you start getting busy, you have to keep the pace by trying to grow more,” he says, explaining how one year became 15.

His first Dubai job was in close protection, giving him structure while he studied the entertainment scene. He noticed Indian, Pakistani and Filipino communities flying in their own artistes, but nobody doing the same for East Africans.

“I said, okay, I’ll do Luo music, because I have a good network of Luo musicians,” he says.

His first event, on May 1, 2014, featured musician Johnny Junior and cost him more than Sh704,000. “The response was very good,” he says.

Registering a full company was expensive, so he worked under hotel and club licences instead, a common arrangement among promoters. Even that required a residence visa costing Sh528,000, with medical tests and financial checks that took three months to clear.

Once settled, his business expanded across East Africa and eventually to Jamaica, bringing in acts like Turbulence, Fantan Mojah and Etana, alongside Kenyan stars such as Prince Indah, Guardian Angel and Nadia Mukami.

His most expensive show, featuring Prince Indah, cost around Sh1.5 million.

Every performer on stage, even an emcee, needs a licence costing nearly Sh28,000, meaning a seven person band alone costs about Sh197,000 in licensing, plus a Sh52,000 application fee.

Still, the returns come fast. “If you put in like Sh352,000, you get your Sh702,000, or maybe extra, in return,” he says.

The road hasn’t always been smooth. Covid pandemic forced him to cancel shows already booked, including Jamaican acts under contract, and visa delays sometimes took over two months to clear. Eventually the Jamaican leg became unsustainable, and Geo shifted his focus back to Kenyan and East African talent.

Beyond concerts, he built a second income organising corporate events that link Gulf investors with Kenyan businesses, and more recently sourcing Kenyan meat and vegetables for UAE buyers. That diversification carried him through his longest gap yet, an entire year without a live show in 2025, after buying property and shifting toward trading.

His office now sits in the Dubai Airport Free Zone, run by a lean team of three.

“The law is straight,” he says, comparing Dubai’s business environment to Kenya’s. “You only earn what you deserve to earn.”

His plans now stretch into Qatar and Saudi Arabia, with an eventual return to Kenya. “I don’t need to go to their countries,” he says. “It’s their turn now to come to our country.”

Asked what success means after everything he has built, Geo doesn’t point to numbers.

“Success is when you’re actually proud of what you’ve done, which, of course, I’m very proud of what I’ve done so far,” he says.