Meet Japan’s next prime minister candidates

Japan’s ruling Liberal Democratic Party (LDP) will elect a new leader today, setting the stage for the country’s fifth prime minister in as many years after the resignation of Shigeru Ishiba.

The vote comes at a turbulent moment for the conservative party, which has governed Japan almost continuously since the 1950s but is now reeling from election losses, corruption scandals and a frustrated public weary of economic stagnation.

After losing its parliamentary majority in last year’s lower house elections – and suffering another setback in July’s upper house vote – the LDP has been forced to govern as a weakened minority. Ishiba’s decision last month to step down opened a race that could shape the direction of Japanese politics for years to come.

Whoever takes the helm will inherit a nation grappling with the rising cost of living, growing populist sentiment and the fallout from Donald Trump, United States president trade war.

Shinjiro Koizumi

At 44, Shinjiro Koizumi is the youngest and one of the most recognisable faces in the race. The son of former prime minister Junichiro Koizumi, he has long been seen as a potential future leader.

As agriculture minister, Koizumi gained popularity earlier this year for his handling of Japan’s ‘rice crisis,’ when soaring prices hit consumers. His pragmatic response boosted his public profile and earned him backing from much of the LDP establishment.

A moderate by temperament, Koizumi has promised to reform the tax system, cut public debt and promote growth while maintaining fiscal discipline. Yet his relatively young age and less prestigious academic background – he studied at Kanto Gakuin University and Columbia University – may count against him in a party where pedigree still matters.

Sanae Takaichi

Sanae Takaichi, 64, is the only woman in the race and a prominent figure on the LDP’s right wing. A protégé of the late prime minister Shinzo Abe, she shares many of his conservative instincts.

A former economic security minister, Takaichi advocates a revival of ‘Abenomics’ – the mix of monetary easing, fiscal stimulus and structural reform that defined Abe’s era. She has also taken hard-line positions on immigration, same-sex marriage and relations with China.

Yoshimasa Hayashi

Another contender, Yoshimasa Hayashi, 64, is regarded as the ‘dark horse’ of the race. Currently serving as chief cabinet secretary, Hayashi has previously led the defence and foreign ministries and is known for his calm, consensus-driven style.

He is campaigning on fiscal prudence and foreign policy continuity, arguing that Japan must deepen cooperation with ‘like-minded democracies’ to counter China, Russia and North Korea.

Toshimitsu Motegi

At 69, Toshimitsu Motegi is the most senior of the five contenders. A former foreign and economy minister, he brings decades of political experience and a reputation as a skilled negotiator.

Motegi’s platform focuses on tackling inflation, cutting fuel prices and raising wages for care workers. His economic proposals fall somewhere between Koizumi’s fiscal restraint and Takaichi’s spending-heavy conservatism.

Takayuki Kobayashi

The youngest after Koizumi, Takayuki Kobayashi, 50, represents the LDP’s next generation. A former economic security minister, he is known for his intelligence and international outlook.

Kobayashi has campaigned on easing the cost of living and boosting growth through innovation. However, analysts say his youth and limited experience may hinder his chances.

Sanae Takaichi set to become Japan’s first female prime minister

Japan’s ruling Liberal Democratic Party (LDP) on Saturday elected Sanae Takaichi, former economic security minister as its new leader, putting her on course to become the country’s first female prime minister.

The 64-year-old conservative, a close ally of the late Shinzo Abe, defeated agriculture minister Shinjiro Koizumi in a runoff vote after neither candidate secured a majority in the first round. The victory cements her position as the frontrunner to succeed outgoing prime minister Shigeru Ishiba, who resigned after a year marked by political turmoil and electoral losses.

A parliamentary vote to formally confirm Takaichi as prime minister is expected on October 15. While the LDP no longer holds an outright majority, it remains the largest party in the lower house – which determines the head of government – making her confirmation almost certain.

A historic first for Japan

In a country that consistently ranks low in global gender equality indices, Takaichi’s rise is historic. No woman has ever led Japan in its post-war history. Yet her victory also underscores the complex realities of Japanese politics: Takaichi is among the most conservative figures in the LDP, a party long dominated by men and traditionalist values.

A protégé of Abe, she has pledged to revive his economic programme known as Abenomics – a mix of heavy government spending, loose monetary policy and structural reform aimed at reviving growth.

‘Takaichi’s leadership will likely mean continuity with Abe’s policies, particularly in the economy and national security,’ said Stephen Nagy, a visiting fellow at the Japan Institute for International Affairs told Al Jazeera ‘She represents the conservative core of the LDP.’

Conservative credentials and controversies

Takaichi has long been known for her strong views on social and national identity issues. She opposes legislation allowing married couples to keep separate surnames and is against legalising same-sex marriage, arguing such changes would undermine Japanese traditions.

She is also a regular visitor to the Yasukuni Shrine, which honours Japan’s war dead, including several convicted war criminals, a practice that often draws criticism from China and South Korea.

On foreign policy, she has taken a hawkish stance, calling for a stronger military and a revision of Japan’s pacifist constitution. She is expected to face early pressure on defence spending when she meets Donald Trump,United States president at a potential summit later this month.

A party in need of revival

Takaichi inherits a party that has dominated Japanese politics for nearly seven decades but is now struggling to maintain public trust. The LDP suffered back-to-back defeats in national elections, losing its majority in both chambers of parliament for the first time in decades.

Saturday’s vote involved 295 LDP lawmakers and about one million dues-paying party members – a small fraction of Japan’s 125 million people. Many analysts see her victory as a bid by the LDP establishment to consolidate its base rather than signal generational or ideological change.

Koizumi, 44, who came second in the runoff, had campaigned on party reform and generational renewal, describing the LDP’s current state as ‘a crisis’. His defeat means Japan will continue to be led by a traditional conservative rather than a centrist moderniser.

Challenges ahead

If confirmed, Takaichi will face an uphill battle: an ageing population, rising living costs, and a slowing economy weighed down by debt. Abroad, Japan confronts an increasingly volatile region marked by China’s assertiveness, North Korea’s missile programme and the uncertainties of Trump’s trade policies.

She will also have to unite a divided party and rebuild its standing before the next general election.

‘The LDP must regain trust, and an overhaul is needed for us to start afresh,’ Koizumi said during the campaign.

For Takaichi, Japan’s first female prime minister-in-waiting, the task ahead is daunting – not just to lead, but to prove that breaking history can also mean breaking stagnation.

Legend Internet gets investment-grade rating from Agusto, advances plans for London listing

Newly listed Legend Internet Plc has been assigned a long-term corporate rating of ‘Bbb-‘ and a short-term rating of ‘A3’ with a Stable Outlook by Agusto and Co., West Africa’s foremost credit rating agency.

Legend Internet Plc is Nigeria’s pioneering indigenous broadband service provider. The company on Thursday, April 24 listed its 2 billion ordinary shares by introduction on the Main Board of Nigerian Exchange Limited (NGX).

This marks Legend’s inaugural rating since its incorporation in 2021 and represents a strong validation of the Company’s business fundamentals and growth strategy.

The investment-grade rating reflects Legend’s satisfactory financial condition, supported by its cash-driven operations and low leverage. It also reflects robust infrastructure investments across the Federal Capital Territory (FCT), passing 250,000 homes with 22,000 connected and 10,000 currently active, improving profitability margins, with gross profit rising to 63.9 percent in for year end 2024/25.

This exemplary rating is the outcome of cost optimisation measures and strong expansion prospects, including its planned entry into Lagos via merger and acquisition, alongside organic growth in Abuja and future rollouts in Kano and Port Harcourt.

Agusto and Co. noted that Legend’s strategic pause in customer activations during Abuja’s city-wide construction works has positioned the Company to scale more efficiently as disruptions subside.

The recently approved 50 percent tariff hike by the Nigerian Communications Commission (NCC) is also expected to boost earnings and cash flow in the near term.

A statement signed by Shakirah Aisha Alaga, Chief Marketing Officer, Legend Internet Plc quoted Aisha Abdulaziz, Chief Executive Officer of Legend Internet Plc, saying ‘ This is first-time rating from Agusto and Co. is a milestone achievement for Legend Internet Plc.

It validates our resilience, prudent financial management, and commitment to building Nigeria’s most reliable broadband network. As we expand into Lagos and other key markets, this rating reinforces the confidence of our investors, partners, and customers in Legend’s ability to grow sustainably while powering digital lifestyles across Nigeria.’

Legend Internet, which transitioned to a Public Limited Company in April 2024, is advancing plans for a dual listing on the Nigerian Exchange and the London Stock Exchange.

The Company continues to diversify its ecosystem with complementary solutions such as LegendMail (Nigeria’s first commercial email platform), MailPay (its proprietary fintech application), and Legend Omni (Fibre-to-the-Room – FTTR) services introduced in partnership with Huawei.

With this rating, Legend Internet PLC strengthens its position as one of Nigeria’s leading broadband providers, building a stable foundation to accelerate growth, attract investment, and deepen digital inclusion nationwide.

Global leaders unite at Bridgforte Dialogues to reimagine inclusive financial systems

Policymakers, regulators, innovators, private sector leaders and philanthropists have said that the best way to confront the challenges of financial inclusion is for the government and private sector to co-create policies, monitor outcomes together, and build incentives for long-term commitment.

They insisted that there is a need to chart actionable pathways for inclusive and resilient financial systems.

These were the major takeaways from the inaugural Bridgforte Dialogues Roundtable held on the sidelines of the 80th United Nations General Assembly.

The programme with the theme: ‘Financial Inclusion Towards 2035: Shifting Power, Shaping Systems,’ held at the Harvard Club of New York City, was convened in collaboration with the Aspen Institute Financial Security Programme and ConsumerCentriX.

Adrienne Harris, Superintendent of the New York State Department of Financial Services, said that the role of New York is to protect consumers and ensure an inclusive financial system.

According to her, the mission of New York is to globally maintain a thriving marketplace for both traditional institutions and innovators.

Sanusi Lamido Sanusi, the Emir of Kano, while reflecting on Nigeria’s long journey toward financial inclusion, said that despite the push for a cashless Nigeria, 65 percent of transactions are still in cash.

The former Central Bank of Nigeria Governor urged the participants to reckon with this gap amid the global push toward digital economies.

Soraya Hakuziyaremye, Governor, National Bank of Rwanda, in his virtual contribution at the programme, charged all stakeholders to co-create policies, monitor outcomes together, and build incentives for long-term commitment

Mohammed Umaru Bago, Governor of Niger State, called for stronger government leadership.

According to him, the government must lead on financial inclusion with sound policies, resilient infrastructure, and above all, investor protection. Clear laws and strong regulations are essential to ensure durable policies and lasting confidence.

Contributions from private sector leaders, including Africa’s celebrated fintech unicorns, added momentum, including from Shola Akinlade (Paystack) and Gbenga Agboola (Flutterwave), who highlighted Africa’s opportunity to break down borders through digital innovation and Bola Adesola (Ecobank Nigeria), who emphasised the role of trust and partnerships in advancing inclusion.

Participants proceeded to curated table discussions to identify blind spots in current strategies and co-create practical recommendations. The dialogue culminated in a plenary exchange, where perspectives from regulators, entrepreneurs, and philanthropists converged on the urgency of cross-sector collaboration to dismantle systemic barriers.

Commenting on the partnership, Ida Rademacher from the Aspen Institute Financial Security Programme said the roundtable is an exciting step to align private, public, and philanthropic leadership and consumer-centred insights to build a more responsive, beneficial financial infrastructure for the future.

Aishah N. Ahmad, CFA, Convener of the Bridgforte Dialogues, closed with a call to action: ‘Today we proved the power of an unusual conversation, candid, cross-sector, and bold. We tackled trust, the government’s role, disruptive technologies like DeFi, and the leadership needed for true transformation. Facilitating this dialogue has been a privilege, but the real work begins now, and I am committed to carrying it forward with urgency and resolve.’

The Bridgforte Dialogues align with UNGA 80’s theme ‘Better Together’ and anticipate the upcoming second world summit for social development, reinforcing that the future of inclusion lies in ensuring historically underrepresented voices are at the center of shaping global agendas.

How Binta Isma’il used a government stipend to build her shoemaking business

Binta Isma’il’s moved from hawking bread under the sun in Abaji market to owning a thriving shoemaking workshop in the same community, showing what resilience plus targeted support can accomplish. In 2019 she became a beneficiary of the Conditional Cash Transfer programme under the National Social Investment Programme of the Federal Government, she used her first stipend to register her new workspace she enrolled and paid to learn shoemaking she bought machines, leather and other tools she needed to build her trade, she says, ‘I used to hawk bread at Abaji market however since I started collecting this money I used it to register my new place of work’

Her workshop in Abaji, Federal Capital Territory is now more than a business; it is a place where apprentices learn the trade and people earn daily incomes from the work done there.

She recalls days when she carried loaves on her head wet from dew or heat ready before dawn often wondering if life would change.

With the stipend from CCT she made decisions that felt small at first yet turned out to be big she learnt shoemaking she bought a machine she bought materials she persisted when orders were few and when progress was slow she upgraded little by little every pair of shoes sold built confidence every apprentice trained expanded her shop steadily demand came she did not rush she built reputation

Her experience shows what well-targeted programmes can do for persons with little – provide small amounts of capital, enable training, remove certain barriers to entry she advises prospective beneficiaries to use stipends wisely enrol in a trade and invest in needed tools rather than waiting for large sums she says, ‘From the beginning, I enrolled and paid to learn the trade from the initial instalment of the CCT that was paid to me, because at that time, I was hawking at Abaji market’

Today Binta Isma’il’s workshop is busy, the income is more stable, and the apprentices are more confident.

How FG’s hasty curriculum tweaking throws shockwaves into education landscape

The federal government’s abrupt introduction of a new national curriculum has stirred significant controversy within Nigeria’s education ecosystem.

While curriculum reforms are necessary to align with global standards, the hasty implementation leaves stakeholders scrambling for clarity and direction.

Stakeholders across the sector, including teachers, school administrators, parents, and publishers, are raising concerns over the lack of consultation, inadequate preparation, and the potential disruption to teaching and learning.

Hassan Bala, managing director/chief executive officer at Learn Africa Plc, a book publishing firm, in a chat with journalists disclosed that the best practice is for a curriculum to be introduced at least a year before it is been implemented so that it will allow time for all the various stakeholders to analyse, illuminate, and translate them into teaching and learning materials.

Bala expressed concerns that this is not the case in Nigeria’s newly introduced curriculum, which the Ministry of Education announced on Sunday, August 31, directing that it must commence in September with the 2025/26 academic session.

‘We had a knee-jerk decision with the curriculum being introduced at the nick of the session, and that didn’t give us time to prepare or even have any content for it.

‘It really threw in a lot of confusion within the publishing space because when you say something is for immediate implementation and there’s nothing to show, it becomes confusing,’ he said.

He explained that because of the abrupt nature of the announcement, some schools even requested to return the books already supplied to them, thinking they could get any content that was relevant.

‘So that confusion in itself had put a clog in the wheel of progress of our general operations, though the impact didn’t really hit us much, but generally it sent shockwaves within the ecosystem,’ he noted.

Sunday Nwosu, a parent, expressed concerns that the government did not consider it necessary to engage stakeholders in a discussion before coming out with its announcement on curriculum change.

‘The government did not imbibe the rule of corporate governance; those in authority are not working together with the stakeholders, making sure that they’re carrying the people along. So, the government is just doing whatever comes into their mind,’ he said.

The new curriculum introduces compulsory digital literacy and basic entrepreneurship at the JSS level, while programming, artificial intelligence, and new languages feature prominently at the SSS level.

It aims to balance academic learning with real-world application to prepare students for future work.

Gift Osikoya, a teacher, emphasised that the immediate and sudden implementation of the curriculum creates confusion and would lead to uneven adoption, stressing that there should have been a phased plan in place, which would have allowed room for smoother and gradual transition.

‘By this sudden and rushed approach, some schools will be compliant while others will lag, causing educational inequality,’ she stressed.

Some stakeholders maintain that without putting some foundational elements in place, the curriculum’s goals are bound to fail, especially in rural areas and some private schools.

Isaiah Ogundele, an education administrator, said the major thing required to drive the new policy is the personnel and infrastructure.

‘The need to train people according to the new curriculum and ensure they have good materials that would make the teaching and learning more effective and cost-effective,’ he said.

For Jessica Osuere, chief executive officer at RubiesHub Educational Services, a lot of preparation should have been done to make the policy a success, beyond rhetoric, as the minister did on August 31.

‘The minister’s announcement amounts to putting the cart before the horse. You don’t start implementation without a survey, definition of goals, and design of the goal, among others.

‘We have had several reviews of the curriculum, but how well did we fare in that regard? Most of our schools are in a moribund state today,’ she said.

Experts emphasised that, for instance, to drive the new curriculum demands teachers are retrained to handle the new subjects, especially those that require practical experiences.

For instance, subjects such as programming, artificial intelligence, data science, cybersecurity, and entrepreneurship require special skills that many of the teachers lack, hence the need for a retraining exercise.

According to UNESCO, every education system is only as good as the teachers who provide hands-on schooling.

Hence, the UN’s Sustainable Development Goal Four (SDG 4) calls specifically for a major increase in the supply of qualified teachers, and more support from the international community for teacher training in developing countries.

‘Introducing a new curriculum with the same old teachers is like putting new wine in an old bottle,’ experts say.

It is high time those vested with the power to rule began to carry the people along in their policy formation and implementation. This way, everyone concerned will be on the same page with the government, and this will invariably reduce confusion and financial losses, as noticed in the introduction of the new curriculum.

Meet Victor Agboli, statistician turning data into better health outcomes

Growing up in Lagos, Victor Agboli wondered why, during rainy seasons, malaria cases surged across his community, and while some families fell sick repeatedly, others seemed largely unaffected.

‘I noticed things like whether households used mosquito nets, had stagnant water nearby, or disinfected their rooms,’ he recalls. ‘Looking back, those were my first attempts at causal inference. I was connecting patterns in lifestyle to health outcomes without knowing what statistics was.’

That early curiosity set the foundation for a career now rooted in advanced biostatistics, where Agboli, a second-year Ph.D. student at the University of Florida, applies mathematical rigor to solve pressing health problems.

Building foundations across continents

Agboli’s academic path reflects both resilience and ambition. He earned his bachelor’s degree in mathematics and statistics from the University of Lagos, where a strong theoretical training came with the reality of limited data infrastructure.

‘We could prove theorems and derive equations, but often we didn’t have the real-world data to test them,’ he said.

A move to Atlanta for his master’s in mathematics at Georgia State University changed that. There, he gained exposure to large-scale U.S. health databases for the first time, finally seeing how statistical theory could inform public health practice.

‘It was the first time I could directly connect what I had learned in classrooms in Nigeria to real data, cancer registries, vaccination rates, and health surveys. It showed me the power of statistics in shaping decisions,’ he explains.

Working with companies like GSK and Bamboo, a Nigerian fintech startup, gave him firsthand exposure to how data can be harnessed to solve practical problems, from assessing risk in financial portfolios to improving customer experiences.

He also began to see gaps: areas where poor data practices or weak statistical foundations led to inefficiencies, missed opportunities, or even systemic vulnerabilities. Those realisation strengthened his commitment to becoming a practitioner, someone who could advance statistical knowledge while also ensuring its responsible application in industry.

‘I’ve always seen statistics as more than numbers,’ he says. ‘It’s about making sense of complexity, telling stories from data, and ultimately guiding decisions that affect people’s lives.’

Today at the University of Florida, Agboli is pursuing his PhD with a focus on methodological research in biostatistics.

His research explores advanced statistical methods for high-dimensional data, tackling challenges that arise in today’s era of big data and machine learning.

Working at the Malcolm Randall VA Medical Center in Gainesville. His role includes analysing clinical trial data, developing statistical models for studies on post-traumatic stress disorder (PTSD) and sleep disorders, and drafting analysis plans for multimillion-dollar grant proposals.

‘Each stage of my journey shaped me differently, from theory in Lagos to applied data in Atlanta to developing new methods in Florida,’ he reflects. ‘Together, they made me the kind of researcher who values rigor but never loses sight of practical, human impact.’

The human side of data

Agboli’s work at the VA brings him close to one of the most vulnerable populations in the U.S.: veterans living with traumatic brain injuries, PTSD, and chronic sleep disorders.

His role, though statistical, is deeply tied to patient outcomes. ‘Behind every dataset are real people,’ he said. ‘When I analyse data on sleep quality or brain imaging, I remind myself that the numbers represent someone’s parent, child, or neighbor.’

One of his most fulfilling projects has been a clinical trial exploring the use of transcutaneous vagus nerve stimulation (tVNS) as a treatment for veterans struggling with sleep.

‘Sleep might sound basic, but for veterans with PTSD, it’s a daily struggle,’ Agboli said. ‘This non-invasive intervention offers a safer path to rest and recovery. My job was to design and analyse the data so that the results are reliable and meaningful.’

The research, he explains, has the potential to transform veterans’ quality of life. ‘If evidence can prevent wasted funds and save lives, that’s the difference I want to make,’ he said.

Mentorship beyond borders

Beyond research, Agboli is equally passionate about teaching and mentorship. He believes that the future of statistics and data science in Africa depends on creating pathways for young scholars.

‘Nigeria is full of talent,’ he said, ‘but many students don’t have the resources or opportunities to fully explore their potential in mathematics and data-driven fields.’

‘For undergraduates, I use everyday examples, like weather forecasts and the probability of carrying an umbrella. For graduate students, I connect theory directly to health research,’ he said. ‘My goal is for students to stop seeing statistics as just formulas and start seeing them as a way of thinking critically about the world.’

Looking ahead, Agboli hopes to expand his work beyond the U.S. ‘My long-term vision is to bring robust biostatistical methods to developing countries where data systems are still fragile,’ he said.

Treasury refinances Sh129bn Eurobond at higher cost

The government is set to face increased costs for external debt financing after taking up a new $1.5 billion (Sh193.8 billion) Eurobond, whose proceeds are partially earmarked for refinancing an existing, cheaper bond due to mature in February 2028.

The National Treasury said on Friday that the new bond has been issued in two tranches, one with a term of seven and the other 12 years, at interest rates of 7.875 percent and 8.8 percent, respectively.

While the Treasury did not disclose how the $1.5 billion bond value was split between the two tranches, it said that the weighted average interest rate on the issuance stood at 8.7 percent, meaning that the annual cost of servicing the debt stands at $130.5 million (Sh16.9 billion).

At the same time, Treasury Principal Secretary Chris Kiptoo said in a statement that the government had completed the buyback of a 10-year, $1 billion (Sh129.23 billion) Eurobond that was issued in February 2018, ahead of its 2028 maturity date.

This bond paid annual interest at a rate of 7.25 percent, or $72.5 million (Sh9.37 billion), making it cheaper than the replacement paper whose effective interest charge on a similar portion of $1 billion stands at $87 million (Sh11.24 billion).

The Treasury PS said that the buyback and new issuance were necessary to give Kenya fiscal breathing space by lengthening the maturity of debt that has a short period to redemption.

‘This is the third such transaction since 2024, and it shows the government’s firm commitment to managing debt more wisely, paying off loans on time, and protecting Kenyans from sudden repayment shocks,’ said Dr Kiptoo in his statement on Friday.

A notice published on Thursday by the London Stock Exchange (LSE), where the 2018 bond is listed, also noted that investors who participated in the bond buyback would be paid a premium of 3.75 percent on the face value of their securities, after the government priced the offer at $1,037.50 per principal bond unit of $1,000.

This price premium is seen as necessary to entice holders of the existing paper to roll over their holdings to the new bond.

The previous two buybacks have also seen the interest cost of the new bonds surpass that of the papers they are replacing.

In February 2024, the Treasury floated a $1.5 billion, seven-year Eurobond at a rate of 9.75 percent, with the proceeds used to partially repurchase Kenya’s debut 10-year, $2 billion sovereign bond that was issued in June 2014 at an interest rate of 6.875 percent.

The higher rate on the new bond resulted in annual interest of $146.25 million (Sh18.9 billion), which is higher than the $137.5 million (Sh17.8 billion) the government was paying on the 2014 issuance, despite the fact that the latter bond was larger in size by $500 million.

Similarly, the 11-year, $1.5 billion Eurobond issued in February this year to fund a buyback of a seven-year, $900 million bond sold in 2019 was priced at a higher rate of 9.5 percent, compared to the latter’s seven percent interest rate.

The 2025 bond pays investors annual interest of $142.5 million (Sh18.4 billion), compared to the $63 million (Sh8.1 billion) that was being paid on the retired 2019 bond per year.

Had the government limited its uptake on the new bond to $900 million to match the buyback paper, the interest rate difference would have been equivalent to Sh2.9 billion.

Longhorn Publishers turns the page after death of long-time chairman FT Nyammo

With the passing on of Francis Thombe Nyammo at 86, Longhorn Publishers continues without the towering chairman who guided the firm for almost 50 years before exiting the board in November last year.

Nyammo, usually referred to as FT, had chaired the firm since 1977, guiding the publisher to list on the Nairobi Securities Exchange (NSE) in May 2012.

He held a direct stake of 5.88 percent in the publisher and had a beneficial interest in Pacific Futures and Options Limited, which holds a 12.85 percent stake.

He stepped down as chairman in November 2024, handing over to Ali Hussein Kassim on an interim basis. Mr Kassim then handed the role over to Githu Mugai, who has a beneficial interest in Halifax Capital Corporation Limited, which owns 5.01 percent of Longhorn.

Nyammo’s death on September 28, his 86th birthday, followed by his cremation the next day as he wished, marks a turning point for Longhorn.

The publisher must now chart its course through a changing business landscape under the stewardship of relatively new figures on its board.

Nyammo was one of the local investors who acquired shares in the company in 1993, when its previous owners, Longman UK, exited the Kenyan market.

He served as a Member of Parliament for Tetu Constituency between 2007 and 2013. He was a founding member of the Kenya Private Sector Alliance (Kepsa) and a long-serving member and past president of The Rotary Club of Karen. He was also a former managing director of Kenya Reinsurance.

Prof Muigai says Nyammo was ‘more than a chairman,’ ensuring that ‘every book we publish carries the weight of his passion for building brighter futures.’

‘He was the guiding light behind Longhorn’s journey as a Pan-African powerhouse in educational publishing. As a founding pillar of our organisation, he championed innovation, agility, and excellence, transforming Longhorn into a beacon of knowledge,’ said Prof Muigai in his tribute.

The Rotary Club of Karen described him as a major donor and a pillar of strength, a source of joy, and a true gentleman whose laughter and wisdom lit up every room.

Rotary Club of Karen president Linet Ayuko said: ‘FT aka Fun Times has indeed done his Full Time.’

Nyammo exits the scene at a time Longhorn has made several other changes in its top leadership. The entry of Prof Muigai as the chairman on December 19 last year was alongside Makenna Nyammo, the daughter of the late Nyammo.

Carrying her father’s legacy, she now sits on the boardroom as non-executive director, casting her presence in the shadow of the man who led Longhorn for nearly five decades – a reminder of the family’s imprint on the publisher’s leadership.

On September 30 this year, Maxwell Wahome stepped down as CEO. In his place, Longhorn announced the return of Simon Ngigi as acting CEO to ensure continuity. Mr Ngigi previously served as Longhorn CEO from 2015 to July 2018 before handing over to Mr Wahome.

In August of the same year, Longhorn appointed educationist Sara Ruto as a non-executive director, while Centum Investment – the top shareholder with 34.9 percent stake – resigned from the board.

Following Centum’s exit, Longhorn appointed Thomas Omondi as an alternate director.

Another new face on Longhorn’s board is Shikoh Gitau, who was appointed as an independent director in March 2024.

Longhorn hopes that these changes to the board will stabilise its operations as it continues to confront challenges such as piracy, rising demand for digital books, changes to the education curriculum, and competition from second-hand book sellers.

The firm cut its net loss by 58.4 percent to Sh237.9 million in the financial year ended June 2024, recovering from its worst performance (Sh571.33 million net loss in 2023) since listing on the NSE.

Last year, Longhorn divested from unprofitable textbook markets in Malawi, Zambia and Tanzania.

A wolf in sheep’s clothing?

The sudden decision by Thamanat Prompow, the patriarch of the Klatham Party, to defect from the Pheu Thai-led government and throw his support behind a new minority coalition with Anutin Charnvirakul as premier has jolted the already fragile Thai political landscape.

At face value, it is a significant coup for Mr Anutin and his Bhumjaithai Party, who need all the support they can get to cobble together parliamentary legitimacy.

Yet under the surface lies a deeper question: is Thamanat truly shifting allegiance, or is he positioning himself as a Trojan Horse, working covertly to safeguard the interests of Pheu Thai and its de facto leader, Thaksin Shinawatra?

Thamanat is no stranger to controversy, nor to the art of political manoeuvring. His career has been marked by both scandal and resilience.

Despite a criminal conviction in Australia decades ago, he rose steadily in Thai politics, leveraging local patronage networks in the North and with his ability to build and dismantle alliances. The Phayao MP once served as secretary-general of the Palang Pracharath Party (PPRP), which was the main party of the Prayut Chan-o-cha administration.

However, even at the height of his time in the PPRP, there were suspicions about his true political loyalties. During a no-confidence debate against Gen Prayut, Thamanat was accused of playing a pivotal role in attempts to orchestrate his downfall. Opponents say his actions were less about party loyalty than about engineering a pathway favourable to Pheu Thai, which has long sought to reassert itself as the dominant political force.

Those accusations cemented Thamanat’s reputation as a political operator whose public affiliations often concealed private allegiances.

Central to the speculation about Thamanat’s current move is his long-standing close relationship with Thaksin. While many politicians maintain pragmatic ties across party lines, Thamanat’s association with Thaksin has proven remarkably durable, surviving his years in the PPRP and now his defection from the Pheu Thai-led administration.

To many watchers, this connection is not merely social but strategic. Thaksin has historically relied on figures like Thamanat to act as intermediaries within hostile or uncertain political environments.

By cultivating leaders with strong regional networks and a reputation for pragmatism, Thaksin has been able to maintain influence even when Pheu Thai has been in opposition or constrained by coalition dynamics. Thus, Thamanat’s sudden embrace of Bhumjaithai raises the possibility that he is not abandoning Thaksin but instead positioning himself to monitor, influence or even undermine Mr Anutin’s fledgling coalition from within.

If Thamanat is indeed a Trojan Horse, the implications for Mr Anutin’s administration are serious.

Leading a minority coalition is already a precarious endeavour, reliant on fragile parliamentary arithmetic and a constant need to negotiate with smaller partners. The entry of a figure like Thamanat, whose loyalty is suspect, could exacerbate his fragility rather than strengthen it. The risks manifest in several ways.

First, Thamanat may act as a conduit of information, relaying internal coalition strategies back to Pheu Thai. Second, he could subtly steer policy debates or legislative votes in ways that weaken Bhumjaithai’s credibility while leaving Pheu Thai in a stronger position for a future election. Third, he could use his party’s bargaining power to destabilise Mr Anutin’s coalition at critical moments, such as during budget debates or no-confidence motions, echoing the tactics he reportedly deployed against Gen Prayut.

In short, while Mr Anutin may view Thamanat’s support as an immediate boost, it could prove a poisoned chalice.

To be sure, not all interpretations cast Thamanat as a covert operative. There are plausible reasons why he might genuinely have broken with Pheu Thai.

Pheu Thai’s internal power dynamics, especially the dominance of Thaksin’s family and close allies, have left limited space for ambitious secondary players. Thamanat, who sees himself as a kingmaker, may have concluded that his ambitions would be permanently capped by Pheu Thai.

Moreover, Mr Anutin offers an alternative platform. The Bhumjaithai’s reputation as a pragmatic, deal-oriented party aligns well with Thamanat’s own style. The promise of influence in shaping agricultural or regional development policies – areas central to Thamanat’s political base – could have persuaded him that his future lies outside Pheu Thai’s orbit.

The truth could be somewhere in between. Thamanat has built his career on calculated ambiguity – remaining close to Thaksin while aligning with governments that seem ideologically opposed to Pheu Thai. This dual positioning allows him to hedge against political volatility. If Mr Anutin’s minority government survives, Thamanat can claim a role in sustaining it. If it collapses, he can plausibly pivot back to Pheu Thai, citing his enduring ties with Thaksin.

Such ambiguity is not merely self-serving; it reflects the broader reality of Thai politics, where no alliance is ever fully stable and where political actors often prioritise survival over ideology.

Ultimately, whether Thamanat is a Trojan Horse or a genuine defector will be revealed in his actions over the coming months. Should he consistently vote in support of Mr Anutin’s initiatives and defend the coalition in moments of crisis, sceptics may rethink their suspicions. But should he waver at critical junctures, or should rumours emerge of clandestine coordination with Pheu Thai, the Trojan Horse theory will gain renewed credibility.

So far, so good for now

Prime Minister Anutin Charnvirakul has seen his popularity rise sharply, with the latest Nida Poll showing his approval rating more than doubling in just three months.

In the third quarterly survey on political popularity, about 20.4% of respondents backed Mr Anutin as prime minister, up from just 9% in the second quarter before he took office.

He now trails only People’s Party (PP) leader Natthaphong Ruengpanyawut, whose support dropped from 31.4% to 22.8%. Another 27.2% of voters were undecided, a group, analysts say, the Bhumjaithai Party can win over if it does things right over the next four months.

According to Suvicha Pouaree, director of Nida Poll Centre, there are three reasons behind the surge in Mr Anutin’s popularity.

First, being prime minister gives him an aura of leadership. As prime minister, his profile is no longer that of a coalition partner but of the country’s leader, with every decision and public appearance carrying weight.

Second, his pledge to revive the popular spending-stimulus Khon La Khrueng co-payment scheme within his short government stint has resonated with low- and middle-income earners. Introduced during the Prayut Chan-o-cha administration, it subsidised 50% of the cost of food, beverages, and general goods for participants in a bid to support small vendors and street food operators.

The upcoming scheme, tentatively set for a launch late this month or early next month, is expected to benefit 13 million state welfare cardholders and 20 million members of the general public.

At the same time, patriotism has surged amid the border conflict with Cambodia, and people are looking for firm leadership to handle the situation. Many Thais also believe Mr Anutin is prepared to take a tough line, even keeping border checkpoints closed without hesitation, a stance that has further boosted his popularity.

Mr Suvicha said that this short period in office – a product of the agreement he struck with the main opposition People’s Party in return for backing him becoming prime minister – before a House dissolution, is a ‘golden window’ for Mr Anutin, unless there are serious blunders.

‘People will not criticise him harshly unless something goes badly wrong,’ Mr Suvicha said.

Olarn Thinbangtieo, a political science and law lecturer at Burapha University, said Bhumjaithai’s rising popularity is tied to disarray within the Pheu Thai Party, while conservative actors such as the United Thai Nation (UTN) Party led by Pirapan Salirathavibhaga and the Palang Pracharath Party (PPRP) led by Gen Prawit Wongsuwon have haemorrhaged members and are in no position to lead the bloc.

This void will most likely be filled by Bhumjaithai as conservative voters are expected to rally behind a party with the strength to win the next election and head the next government.

He said MPs and ban yai – powerful political families in the provinces – have been quick to defect to Bhumjaithai or signal their support, which enhances the party’s chances of becoming the main party in the next coalition government.

The latest is a faction known as the ‘Group of 16’ led by Natural Resources and Environment Minister Suchart Chomklin, who confirmed that he and his team of MPs will soon move from the UTN to Bhumjaithai.

On Wednesday, Mr Anutin offered a warm welcome to veteran politician Santi Promphat, who quit the PPRP for Bhumjaithai. Mr Santi tendered his resignation as PPRP secretary-general on Monday before obtaining membership of Bhumjaithai the following day.

Mr Santi, whose son, Pattana Promphat, currently serves as public health minister, controlled a faction in the PPRP, and it is unclear if the group will follow him to his new home.

As for the Group of 16, talks are reportedly under way to straighten out whether and how incumbent MPs in the group can retain their right to contest their constituencies in the next election. While Mr Suchart has resigned from the UTN to become a minister, the MPs in the group remain with the UTN.

‘Even if it is not the best option, Bhumjaithai is currently the only viable party for voters in the conservative camp,’ Mr Olarn said.

Nationalist sentiment has been particularly helpful to Mr Anutin, according to Mr Olarn.

A strong performance by newly appointed Foreign Minister Sihasak Phuangketkeow at the United Nations General Assembly recently – where he firmly rebutted Cambodia’s allegations against Thailand – has reinforced the sense that Thailand is regaining dignity on the world stage.

However, the analyst noted that risks persist regarding the Khao Kradong land dispute and alleged Senate election collusion, which could damage Bhumjaithai’s credibility.

The Khao Kradong land dispute in Buri Ram involves the Chidchob family, who wields major influence over Bhumjaithai, whereas alleged vote rigging in the Senate elections last year represents the largest case of electoral fraud this country has ever seen, implicating 229 people, including 138 current senators and individuals linked to Bhumjaithai.

If the government can effectively implement crucial policies and keep dealmakers and old-style politicians from dominating the party, it can maintain public confidence and political momentum.

Mr Olarn said Bhumjaithai will need to recruit a new generation of candidates with clean images, balancing its reliance on ban yai networks with fresh faces that can appeal to younger voters and the undecided 27%.

‘The government has made an impressive start. Mr Sihasak did a remarkable job at the UN General Assembly, boosting public confidence and enhancing the country’s standing on the global stage. This has been a huge boost for the government,’ he said.