The Mwango Capital Podcast

40 Episodes
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By: Mwango Capital

Breaking down businesses and understanding markets in East Africa mwangocapital.substack.com

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The Dangote Refinery IPO—How Can E. Africans Invest
The Dangote Refinery IPO—How Can E. Africans Invest episode artwork
Today at 10:00 AM

In this episode recorded on October 21, 2026, we sit down with Karimi Warui and Divine Olumese from Renaissance Capital to dissect how East African investors can access the Dangote Petroleum Refinery listing. We explore the structural architecture of inward GDRs, the pricing mechanics bridging the NGN 525 offer price and the KES 53.50 GDR price, dividend pass-through and voting rights for local investors, the refinery's transition from net debt to net cash in nine months, and how this GDR structure bypasses regulatory friction to create a template for future Pan-African cross-listings.

Show Notes

00:00:00 Introduction

00:04:19 Why the...


Understanding the Quickmart IPO
Understanding the Quickmart IPO episode artwork
Last Tuesday at 5:00 AM

In this episode recorded on October 15, 2026, we sit down with Martha Osier (Partner, Adenia Partners), Simon Macharia (CFO, QuickMart), and Jacques Dôme (Managing Director, QuickMart Kenya) to dissect QuickMart's KES 15 billion public offering. We explore the rationale behind the secondary offer for sale, how the business sustains negative working capital alongside an 80% dividend payout ratio, store rollout economics, supply chain resilience against shrinkage, and Adenia's strategic alignment with new investors post-listing.

Show Notes

00:00:00 Introduction

00:05:40 Why List Now

00:11:04 Working Capital Management

00:20:06 Concerns on Shareholder Sell-down

00:24:56 Store Expansion S...


Understanding the National Infrastructure Fund
Understanding the National Infrastructure Fund episode artwork
Last Saturday at 1:00 PM

In this episode recorded on September 15, 2026, we sit down with Dr. James Mworia (founding CEO, National Infrastructure Fund) to examine the architecture, governance, and mandate of Kenya’s newly established DFI. We explore NIF's SPV project finance structure, its private capital crowding-in target, the redeployment of privatisation proceeds into productive infrastructure, the bankability and risk allocation of priority projects like the JKIA expansion, and the potential for listed development infrastructure trusts (D-REITs) to recycle domestic capital.

Show Notes

00:00:00 Introduction

00:10:32 Succession and Transition to NIF

00:14:04 NIF’s Mandate

00:16:00 Debt Concerns and...


The Pressure to Look Successful
The Pressure to Look Successful episode artwork
10/12/2026

In this episode recorded on August 25, 2026, we sit down with Anthony Brian Otieno (General Manager, TekEasy Kenya) to examine the financial, social, and psychological pressures facing young men in Kenya. We explore how social media compresses perceived success timelines, the trap of benchmarking wealth against visible scorecards like cars and premium devices rather than cash flow and equity, the economic rationale of smart versus cheap spending, and how young professionals can focus on foundational wealth, character, and productivity over external validation.

Show Notes

00:00:00 Introduction

00:01:22 Social Media Pressure

00:04:30 Men and Visible Scorecards <...


Understanding Quickmart’s Intention to List
Understanding Quickmart’s Intention to List episode artwork
10/02/2026

In this episode, recorded on September 23, 2026, we sit down with Gregory Waweru (CEO, SBG Securities) to dissect QuickMart's planned listing on the NSE. We explore the role of an Intention to Float (ITF) ahead of a formal prospectus, the mechanics of Sokoni Retail's 50% secondary equity sell-down, QuickMart's financial track record scaling revenue to KES 50.4 billion, lease-heavy balance sheet structures, and key governance considerations for retail investors evaluating formal supermarket chains.

Show Notes

00:00:00 Introduction

00:03:15 Intention to Float

00:05:46 Why List on the NSE

00:08:14 Shareholding and Sell Down

00:14:02 Cash Conversion...


Understanding the Dangote Refinery IPO
Understanding the Dangote Refinery IPO episode artwork
09/29/2026

In this episode recorded on September 17, 2026, we sit down with Samuel Sule (CEO, Renaissance Capital Africa) and Divine Ulamasi (Analyst, Renaissance Capital Africa) to dissect the investment thesis behind the Dangote Refinery IPO. We explore Nigeria's broader macroeconomic shift following fuel subsidy removals and naira liberalisation, the refinery's high Nelson Complexity Index rating and $2.40 per barrel cash operating cost target, Phase Two expansion plans, the structural gross refining margin advantage, and the cross-border access channels being built for retail and institutional investors across East Africa.

Show Notes

00:00:00 Introduction

00:02:36 Overview of the Nigeria Market <...


NSE vs. Wall Street : Where’s the Money?
NSE vs. Wall Street : Where’s the Money? episode artwork
09/28/2026

In this episode, recorded on September 8, 2026, we sit down with Leah Wakarima (Operations Lead, Hisa) and Gertrude Njeri (Head of Research, Hisa) to examine the structural dynamics of the Nairobi Securities Exchange relative to global financial centers like Wall Street. We explore how Hisa is dismantling retail access barriers through fractional shares and dual-currency wallets, the factors powering the domestic-led 2026 NSE rally, the revival of the IPO market following listings by Kenya Pipeline and Family Bank, and how technology and research are working to close the coverage gap on local mid-cap counters.

Show Notes

00:00:00 Introduction <...


Understanding the I&M Group H1 2026 Results
Understanding the I&M Group H1 2026 Results episode artwork
09/23/2026

In this episode, recorded on August 27, 2026, we sit down with David Ngata (Group Chief Financial Officer, I&M Group) to dissect the group's H1 2026 financial results. We dive into the key drivers behind the Group’s performance, the Group's "phygital" branch network rollout, front-loaded loan loss provisioning, and how regional operations in Rwanda, Uganda, Tanzania, and Mauritius are expanding their earnings footprint.

Show Notes

00:00:00 Introduction

00:01:00 Highlights of the Half-Year Results

00:04:12 Subsidiaries Profit Mix

00:05:45 Growth in Customer Deposits

00:07:48 Phygital Branch Strategy

00:16:53 Loan Loss Provisions and NPL Ma...


Understanding EABL FY 2026 Results
Understanding EABL FY 2026 Results episode artwork
09/19/2026

In this episode, recorded on September 2, 2026, we sit down with Justin Mollel (Group CFO, East African Breweries PLC) to dissect the group's FY26 financial performance. We explore how broad-based, volume-led growth across Tanzania, Uganda, and Kenya drove net sales to KES 146 billion ($1.12B), the strategic shift to a 50-50 fixed-and-floating debt mix, how cost-productivity initiatives offset raw material inflation, and the operational focus ahead of the upcoming Diageo-Asahi ownership transition.

Show Notes

00:00:00 Introduction

00:08:08 Overview of the FY26 Results

00:12:52 Top Line Drivers

00:14:18 Consumer Trends and Mix

00:16:07 Cost Control...


How Credit Bank is Powering SME Growth in Kenya
How Credit Bank is Powering SME Growth in Kenya episode artwork
09/16/2026

In this episode, recorded on August 11, 2026, we sit down with Charles Kibaara (Chief Manager Operations & Branches, Credit Bank) to break down the bank's core focus on small and medium-sized enterprises across Kenya. We explore how Credit Bank is leveraging its T24 core banking upgrade for instant digital bid bonds, the impact of DFI-aligned governance standards from ShoreCap's investment, liquidity allocation shifts back into private-sector credit, and the strategic roadmap toward an eventual listing on the Nairobi Securities Exchange.

Show Notes

00:00:00 Introduction

00:03:13 An Introduction to Credit Bank

00:06:37 Digital Loans and Bid Bonds <...


Understanding Absa Bank Kenya H1 2026 Results
Understanding Absa Bank Kenya H1 2026 Results episode artwork
09/14/2026

In this episode recorded on August 18, 2026, we sit down with Diana Mwaniki (Acting CFO, Absa Bank Kenya) in her debut Spaces appearance to dissect the lender's H1 2026 results. We explore how strong credit disbursement momentum and lower funding costs helped counter rate-cycle margin compression, the factors enabling a 150% boost to the interim dividend, and how non-funded revenue from newer capital-light business lines is diversifying the franchise.

Show Notes

00:00:00 Introduction

00:01:04 Overview of H1/26 Results

00:02:42 Revenue Drivers and Balance Sheet Growth

00:08:10 Cost and Efficiency

00:10:26 Asset Quality and NPL Trends <...


Understanding Centum FY 26 Results
Understanding Centum FY 26 Results episode artwork
08/31/2026

In this episode, recorded on July 31, 2026, we are joined by Centum Investment Company Group CEO, James Mworia, as we unpack Centum's FY26 financial results, the complete retirement of holding company debt, and key portfolio milestones under the Centum 5.0 strategy.

Show Notes

00:00:00 Broad Overview of the FY26 Earnings

00:04:52 Debt Strategy

00:13:53 Portfolio Companies

00:18:17 Trific SEZ Growth Plan

00:21:55 Arise-Vipingo Partnership

00:26:18 Exit Strategy

00:29:08 Dividend Policy

00:32:02 Share Buybacks

00:40:07 Centum 5.0

00:43:27 Advice to Young People



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The Finance Act 2026
The Finance Act 2026 episode artwork
07/27/2026

In this episode recorded on July 7, 2026, we sit down with Ann Magondu (Senior Tax Manager, Deloitte), Joyce Oriedi (Senior Manager, Tax and Legal Services, PwC Kenya), and Akinyi Gikonyo (Tax Consultant, KAM) to unpack the Finance Act 2026, its role in funding Kenya's KSh 1.11 trillion fiscal deficit, merchant service fee withholding taxes, VAT & excise shifts, and EAC cross-border tax implications.

Show Notes

00:00:00 Introduction

00:01:35 Impact of Finance Act 2026 on Households and Businesses

00:06:27 Withholding Tax on Merchant Service Fees and Interchange Fees

00:12:57 Indirect Transfers and Foreign Investors

00:16:11 Dividends to EAC...


Ask Arvocap Anything
Ask Arvocap Anything episode artwork
07/20/2026

In this episode recorded on June 30, 2026, we are joined by Wilson Wariari (Co-Founder & CIO, Arvocap Asset Managers) and Jesse Ochieng’ (Analyst) to break down the mechanics of goal-based asset management in Kenya. We dive into how Arvocap scaled its AUM to KES 14.26B, their active fixed-income trading philosophy, hurdle-rate performance fees, and how funds like Eurofix and Almasi are broadening market access for retail investors.

Show Notes

00:00:00 Introduction

00:04:31 Gaps Arvocap is Addressing

00:10:17 Assets Under Management Growth Breakdown

00:13:53 Alpha Drivers and Sustainability of Returns

00:26:55 Fees

00:28:19 Almasi Fu...


Understanding Family Medical Cover with AAR
Understanding Family Medical Cover with AAR episode artwork
07/08/2026

In this episode recorded on June 18, 2026, we sit down with Justine Kosgei (CEO & Principal Officer, AAR Insurance) and James Kamau (Group Head of Distribution, AAR Insurance) to break down the mechanics of the newly structured FAARMILY Suite. We dive into how automated AI claims adjudication is capping premium inflation, the extension of senior health cover entry up to age 80, and how the insurer is flexing its products to accommodate non-traditional family structures and diaspora clients.

Show Notes

00:00:00 Introduction

00:04:03 Key Gaps that FAARmily Suite Addresses

00:08:04 Dependants and Documentation

00:10:45 Accessibility and...


Best Practices in Filing Tax Returns
Best Practices in Filing Tax Returns episode artwork
06/23/2026

In this episode, recorded on June 16, 2026, we sit down with the tax and legal consulting team from Ushuru: Beatrice Njeri, Eddah Nyamweya, Derrick Muchoki, and Valentine Gaya, to break down essential best practices for individual and corporate tax submissions. We dive into the realities of real-time E-TIMS validation under Section 23A of the Tax Procedures Act, expose common bank statement exposure points, and outline the exact steps taxpayers must take when responding to a KRA audit notice or default assessment.

Show Notes

00:00:00 Introduction

00:04:13 Common Filing Challenges

00:06:04 eTIMS

00:11:57 Penalties & Interest <...


Bonga na CEO Centum Investments
Bonga na CEO Centum Investments episode artwork
06/17/2026

In this episode, recorded on June 4, 2026, we are joined by Centum Investment Company Group CEO, James Mworia, to unpack the three strategic evolutionary phases of Centum since 2009, the interplay between its real estate and private equity portfolios, and how the company successfully retired its holding company debt to enter a harvesting phase dedicated to driving sustainable shareholder value.

Show Notes

00:00:00 Introduction

00:01:18 Centum Investment Model

00:05:57 Debt Strategy

00:13:54 Real Estate Holdings

00:17:20 Two Rivers

00:24:20 Private Equity Portfolio

00:31:00 Capital Allocation

00:34:59 Share Buyback Program <...


TRIFIC’s Green I-REIT
TRIFIC’s Green I-REIT episode artwork
05/29/2026

In this episode recorded on May 19, 2026, we are joined by Brenda Mbathi, CEO of TRIFIC SEZ, and Pius Muchiri, MD of Nabo Capital, as we unpack the structure, strategy, and investment opportunity behind the green-focused I-REIT.

Show Notes

00:00:00 Introduction

00:01:30 Broad Overview of TRIFIC

00:04:02 Why a Dollar-Denominated I-REIT

00:08:39 Use of Funds, REIT Structure, and Offer Size

00:18:25 USD Yield Return vs T-Bills

00:21:17 Tenant Mix and Debt Strategy

00:25:12 Green Certification, Demand, and Leasing Pipeline

00:31:21 Investor Interest and Liquidity

00:39:11 Cost Control, Vision, and...


Car and General FY25 Results
Car and General FY25 Results episode artwork
05/28/2026

In this episode recorded on May 12, 2026, we are joined by Car & General (C&G) Chief Executive Officer, Vijay Gidoomal, to unpack the group's FY25 financial performance, the rebound of the boda-boda sector across Kenya and Tanzania, and how the business is navigating EV disruptions and leveraging artificial intelligence to build a competitive moat.

Show Notes

00:00:00 Introduction

00:01:17 Business Streams

00:03:54 Regional Business Footprint

00:08:07 Recovery of the Two-wheeler Business

00:10:41 Margins and Cost Efficiency

00:13:56 Investment in AI

00:23:00 Profitability and Cash Flow

00:24:49 Dividend Policy

00:27:40...


Unpacking Delmonte Kenya's Footprint
Unpacking Delmonte Kenya's Footprint episode artwork
05/21/2026

In this episode recorded on May 5, 2026, we are joined by DelMonte Kenya Managing Director, Wayne Cook, as we unpack the company’s 60-year history in Kenya, its KES 100B economic footprint, vertically integrated export model, and its ongoing community relations and sustainability interventions.

Show Notes

00:00:00 Introduction

00:04:04 History of Del Monte Kenya

00:08:14 Del Monte’s Business Model

00:12:48 Local Distribution and Exports

00:14:48 Scale and Economic Impact

00:17:53 Relationship with Fresh Del Monte Group

00:20:36 CapEx and Growth Plans

00:24:39 Community Relations and Human Rights

00:28:06 Sust...


SanlamAllianz Unpacked
SanlamAllianz Unpacked episode artwork
05/17/2026

In this episode recorded on April 30, 2026, we are joined by SanlamAllianz Life Kenya CEO, Jacqueline Karasha, as we unpack the group’s recent corporate restructuring, FY2025 financial performance, and the strategic opportunities within Kenya’s life insurance and digital pension markets.

Show Notes

00:00:00 Introduction

00:05:15 New Group Structure

00:07:53 Uptake of Life Insurance

00:12:24 Embedded Insurance Products

00:15:41 Akiba Plus Retirement Product

00:18:42 Dividends and Strategy

00:24:12 Digital Distribution

00:28:48 Reaching the Informal Market

00:42:48 Investment of Policyholder Funds

00:47:03 Industry Outlook



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Financing What Matters in Kenya's Budget
Financing What Matters in Kenya's Budget episode artwork
05/11/2026

In this episode recorded on April 29, 2026, we are joined by economist Stephanie Kimani and the Institute for Public Finance (IPF) team of Dr. Peter Nguhiu, Veronica Ndegwa, and Martin Kabaya, to unpack the credibility of Kenya's budget, the structural constraints of debt service, and the sustainability of health and social protection financing.

Show Notes

00:00:00 Introduction

00:03:16 Budget Credibility Problem

00:05:53 Debt Service Wiggle Room

00:08:04 Healthcare Funding Gap

00:15:05 Tax Proposals to Fund Healthcare

00:27:08 Fiscal Sustainability of SHIF

00:33:02 School Feeding Gaps

00:42:51 Budget Priority Recommendations

<...


The I&M Bank MTN
The I&M Bank MTN episode artwork
05/08/2026

In this episode recorded on May 6, 2026, we are joined by I&M Bank Group CFO, David Ngata, and SIB Director, Laban Githuki, as we unpack the bank’s KES 20B Medium-Term Note (MTN) programme, its pricing rationale, and capital optimization strategy.

Show Notes

00:00:00 Introduction

00:01:33 I&M Bank’s Balance Sheet

00:03:32 Basics of an MTN

00:10:16 Offer Terms and Dates

00:12:41 Minimum Investment

00:13:55 How the MTN fits into the Bank’s Strategy

00:19:20 Use of Proceeds and Lending Growth

00:24:14 Application, Settlement, and Trading

00:29:01 Asset...


Competition Law Enforcement
Competition Law Enforcement episode artwork
04/30/2026

In this episode recorded on March 25, 2026, we are joined by the OECD’s Competition Expert, Said Kechida, and the Competition Authority of Kenya’s Director of Policy and Research, Dr. Adano Wario, to unpack competition law enforcement in Kenya and the key lessons from the OECD peer review.

Show Notes

00:00:20 What CAK Does

00:08:04 OECD Peer Review Overview

00:10:39 CAK Policy and Research

00:13:02 Key Takeaways from the Peer Review Report

00:14:34 Strengths and Weaknesses in Competition Law Enforcement

00:19:22 Merger and Acquisition Scrutiny

00:29:56 Fines and Proportionality Debate


Stanbic Uganda
Stanbic Uganda episode artwork
04/30/2026

In this episode recorded on April 15, 2026, we are joined by Stanbic Uganda’s CEO, Mumba Kalifungwa, to unpack the bank's strategic market positioning, financial health, and its role within Uganda's broader economic landscape.

Show Notes

00:00:00 Introduction

00:03:41 Economy and the Banking Landscape

00:05:28 Stanbic Uganda’s Structure

00:09:11 Strategy and Growth Priorities

00:16:20 What Makes Uganda Unique

00:20:45 FY2025 Results

00:25:03 NPLs and Credit Risk Lessons

00:31:22 Cost Efficiency Strategy

00:39:19 Positive Impact Framework

00:48:17 Career Advice and Closing Remarks



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Climate Finance in Kenya
Climate Finance in Kenya episode artwork
04/25/2026

In this episode recorded on April 8, 2026, and in partnership with FLLoCA, we discuss climate finance in Kenya.

Our guests:

— Senator Moses Kajwang’ - Homa Bay County

— Peter Odhengo, National Treasury

Host: Ramah Nyang

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Show Notes

00:00:00 Introduction

00:04:45 What Is FLLoCA

00:08:41 Climate Mitigation and Adaptation

00:11:51 Locally Led Solutions, Cost of Inaction, and Access to Climate Finance

00:21:50 Polluters Pay Vs Domestic Financing

00:31:43 Incentives and E-Mobility

00:34:12 County Funds...


SBM: Financial Literacy for the Next Generation
SBM: Financial Literacy for the Next Generation episode artwork
04/21/2026

In this episode recorded on March 31, 2026, and hosted by Terryanne Chebet, we are joined by SBM Bank’s Magdalene Mwende and Duncan Kiberu to unpack financial literacy for Kenya’s next generation.

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Show Notes

00:00:00 Introduction

00:04:42 Starting Financial Literacy Early

00:16:06 Debunking Kenyan Money Myths

00:23:40 Teaching Financial Literacy in a Cashless World

00:30:33 Building Habits and Work Ethic

00:39:35 Longterm Impact of Financial Literacy in Children

00:45:16 Staying Safe in the Digital Space

00:48:02  Role of Giv...


I&M FY 2025 Results
I&M FY 2025 Results episode artwork
04/14/2026

In this episode recorded on March 26, 2026, we break down I&M Holdings FY2025 results with the CFO, David Ngata.

We unpack earnings drivers, balance sheet shifts, subsidiary performance, and outlook heading into 2026

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Show Notes

00:00:00 Introduction

00:03:30 FY 2025 Highlights and Restatement of 2024 Financials

00:08:13 Interest Income, Customer Deposits, and Loan Growth

00:16:22 Wealth Management, Asset Quality, and NPLs

00:20:15 OpEx, CapEx, and Regional Performance

00:27:55 Capital Allocation, Digital Banking, and AI

00:33:30 Impacting Communities

00:35:20...


Assessing Kenya's Debt Situation
Assessing Kenya's Debt Situation episode artwork
04/09/2026

In this episode recorded on March 19, 2026, and hosted by Ramah Nyang, we unpack Kenya’s debt situation.

Our panelists:

* Churchill Ogutu - Economist, IC Group

* Benard Njiri - Senior Research Analyst, IPF

* Stellar Swakei - Senior Research Analyst, Kingdom Securities

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Show Notes

00:00:00 Introduction

00:01:33 The Debt Transparency Problem and Why Fiscal Consolidation Fails

00:09:17 Securitization, Supplier Debt, And Pending Bills

00:23:19 IMF’s Pushback against Securitization and Lessons from Ghana

00:26:44 Ring...


Stanbic Holdings' FY 2025 Results
Stanbic Holdings' FY 2025 Results episode artwork
03/25/2026

In this episode, recorded on March 11, 2026, we dissect the FY 2025 results for Stanbic Holdings with the Chief Financial and Value Officer, Dennis Musau.

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Show Notes

00:00:00 Introduction

00:00:47 Group Structure and Strategic Pillars

00:10:48 Top Line and New Loan Pricing

00:16:42 Interest and Non-interest Revenue

00:21:54 Why Invest in Stanbic

00:24:36 Costs, NPLs, and Risk Management

00:29:13 Loan Growth, Profitability, and Dividend Policy

00:35:24 S. Sudan, SBG Securities, and Bancassurance

00:40:06 Capital Buffers and Mergers & Acquisitions...


Absa Kenya’s FY25 Results
Absa Kenya’s FY25 Results episode artwork
03/24/2026

In this episode, recorded on March 4, 2026, we are joined by the Absa Bank Kenya CFO, Yusuf Omari, as we take a deep dive into the bank’s FY 2025 results.

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Show Notes

00:00:00 Introduction

00:00:53 What Makes a Good CFO?

00:01:54 Overview of the FY2025 Results

00:03:54 Loan Demand, NPLs, Risk Outlook, and Rate Stability

00:08:38 FX and Non Funded Income Growth

00:10:18 Cost Efficiency, Tech, and Investment in Gov’t Securities

00:13:23 CIB Competition and Consolidation

00:15:18 Grou...


Inside Kenya's Moody's Rating Upgrade
Inside Kenya's Moody's Rating Upgrade episode artwork
03/16/2026

In this episode, recorded on February 4, 2026, we deep dive into Kenya’s recent Moody’s rating upgrade with David Rogovic, VP & Senior Credit Officer at Moody's Ratings.

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Show Notes

00:00:00 Introduction

00:03:27 Methodology in Ratings

00:06:59 Kenya’s Upgrade Explained

00:10:18 FX Reserves, KES Stability, Market Access, and Buybacks

00:16:51 Securitization, Domestic Borrowing, and Revenue Risks

00:25:16 Outlook and Key Risks

00:29:04 How does Kenya compare to Peers on Debt Distress?

00:32:09 Public Private Partnerships and the Macro...


Understanding Ziidi Trader
Understanding Ziidi Trader episode artwork
03/12/2026

In this episode, recorded on February 24, 2026, we dive deep into Ziidi Trader. We break down what it is, how it works, and what it means for investors.

Our guests:

* Aliya Khanbhai - Head of Wealth and Insurance, Safaricom

* Gitau Macharia - Product Owner Wealth Management, Safaricom

* Eric Ruenji - Founder and Chairman, Theo Capital Holdings

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Show Notes

00:00:00 Introduction

00:07:40 Ziidi Trader and its Key Differentiators

00:11:51 Omnibus Structure and Share Ownership

00:17:59...


2026 Macro Outlook
2026 Macro Outlook episode artwork
02/26/2026

In this episode recorded on January 26, 2026, we break down what lies ahead for markets and the economy in 2026.

Guests:— Churchill Ogutu - Economist, IC Group— Stephanie Kimani - Economist— Stellar Swakei - Senior Research Analyst, Kingdom Securities Limited

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Show Notes

00:00:00 Introduction

00:01:25 2025 Macro Highlights

00:10:15 IMF Programs, China Debt, and Liability Management

00:14:57 Corporate Borrowing and MSME Access to Finance

00:18:19 Debt, Securitization, Equity Markets, and the NSE Rally

00:32:53 Domestic Debt, External Borrowing, and Crowding Out


EABL H1 FY26 Results
EABL H1 FY26 Results episode artwork
02/21/2026

In this episode recorded on February 3, 2026, we host Risper Genga, Group CFO at EABL, for a discussion on the company’s H1 FY26 results and the key drivers behind its sales and profitability.

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Show Notes

00:00:00 Introduction

00:03:10 Sales Growth, Consumer Trends, and Regional Performance

00:11:27 Volume-Price Mix, Margins, and Cost

00:16:30 Taxation Challenges

00:20:04 Cash, Working Capital, and Dividends

00:26:14 CapEx, OpEx, and FX

00:29:21 Debt Management and the MTN Issuance

00:38:08 Increasing Receivables, the Asahi De...


The Kenya Pipeline IPO
The Kenya Pipeline IPO episode artwork
02/16/2026

In this episode recorded on February 9, 2026, we host the Kenya Pipeline Company (KPC) Managing Director, Joe Sang, and Faida Investment Bank’s, Dr. Belgrad Kenne, to break down the KPC IPO and discuss its implications to investors.

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Show Notes

00:00:00 Introduction

00:05:04 KPC Overview

00:11:31 KPC’s Business Model & Financials

00:17:34 The Role of Transaction Advisors in an IPO Process

00:23:33 Offer Details and Valuation

00:44:11 Dividend Policy and Board Structure

00:47:06 Risks and Strategic Plans

00:59:27 Key...


ALP Industrial REIT
ALP Industrial REIT episode artwork
02/12/2026

In this episode recorded on January 29, 2026, we are joined by Africa Logistics Properties’ CEO, Raghav Gandhi, as we explore industrial REITs and what the ALP Industrial REIT restricted offer means for investors.

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Show Notes

00:00:00 Introduction

00:06:03 Industrial REITs and their Benefits

00:12:23 The ALP Industrial REIT Offering

00:16:40 Regulation and Consumer Protection

00:20:26 REIT Features, Importance, and Future Vision

00:25:32 Key Dates and Concerns on Minimum Subscription

00:28:26 Value Proposition, Currency Risks, and Key Players

00:38:06 Ap...


Reverse Invoicing Through eTIMS
Reverse Invoicing Through eTIMS episode artwork
02/10/2026

In this episode recorded on January 22, 2026, and hosted by Joseph Mwaniki, we are joined by Caine Wanjau, CEO of DigiTax, for a conversation on reverse invoicing through eTIMS and its implications for businesses and taxpayers.

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Show Notes

00:00:00 Introduction

00:04:42 Reverse Invoicing and Buyer-Initiated Invoicing

00:09:21 Challenges Addressed by Buyer-Initiated and Reverse Invoicing

00:14:49 Implementation Challenges and Solutions

00:19:40 Regional Perspectives on e-invoicing

00:23:49 Practical Steps for Reverse and Buyer-Initiated Invoicing

00:26:09 Impact of eTIMS Invoicing on MSMEs<...


Income & Expense Validation Explained
Income & Expense Validation Explained episode artwork
02/02/2026

In this episode recorded on November 13, 2025, and hosted by Joseph Mwaniki, we discuss KRA’s new tax validation rules starting Jan 1, 2026.

Guests:—Josephine Mugure, Chief Manager, Policy & Tax Advisory—Hakamba Wangwe, Chief Manager, eTIMS—Agnes Gitau, Manager, Tax, Andersen Kenya

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Show Notes

00:00:00 Introduction

00:03:48 Legal Framework and Background

00:09:31 Impact on Taxpayers

00:13:06 KRA’s Rollout and Compliance

00:19:59 Simplifying Compliance for SMEs

00:28:49 Handling Non-Compliant Suppliers & Missing Invoices

00:37:14 Verifying e-TIMS Invoices

00:41:51 Exemptions...


StanChart: Growing Your Wealth
StanChart: Growing Your Wealth episode artwork
#145
01/21/2026

In this episode recorded on December 15, 2025, we host Standard Chartered’s Head of Wealth Management Products, Ouma Orero, and Head of Advisory and Managed Investments, Khushboo Dhutia, for a conversation on growing your wealth today, tomorrow, and forever.

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Show Notes

00:00:00 Introduction

00:01:47 Understanding Affluent Clients

00:05:43 Starting Now and Financial Planning Frameworks

00:17:38 Building a Resilient Portfolio

00:25:43 Personalized Financial Planning and Intergenerational Wealth Transfer

00:30:53 Wealth Preservation vs Wealth Creation

00:34:26 Investment Risks and Optimizing Investment De...