Noel Wandera

Kenya

Writer at People Daily Kenya

A Consumate Public Relations and Media Consultant. Change Is The Only Constant In My Life

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Articles

How digital streaming platforms are driving millions of dollars into artists’ bank accounts

2 weeks ago | peopledaily.digital | Noel Wandera

| The creative industry remains a hidden gem as a business, despite music revenues in sub-Saharan Africa reaching a historic high of $110 million (Sh14.2 billion), surpassing the $100 million (Sh12.9 billion) mark for the first time. ‘The region recorded an impressive 22.6 per cent growth rate, according to the International Federation of the Phonographic Industry (IFPI), which represents the global recording industry.
EABL tightens grip on UBL after 98.32pc stake uptake

3 weeks ago | peopledaily.digital | Noel Wandera

| East African Breweries Limited (EABL) has tightened its grip on Uganda Breweries Limited (UBL) by increasing its stake to 98.32 per cent. This move marks a significant milestone in EABL’s continued expansion and consolidation across the East African market, reinforcing its competitive position in the region’s highly dynamic alcoholic beverage industry.
Treasury raises Sh71.4b for more fiscal obligations

3 weeks ago | peopledaily.digital | Noel Wandera

| The National Treasury has successfully raised Sh71.4 billion in its latest Treasury Bonds auction held on April 2, 2025. The funds will primarily redeem Sh90.85 billion in maturing obligations, with the remaining Sh19.45 billion allocated for net repayment or new borrowing. This strategic issuance reflects the government’s focus on debt management while sustaining development initiatives and addressing fiscal gaps.
Credit drops due to tighter monetary policy - experts

3 weeks ago | peopledaily.digital | Noel Wandera

| Kenya’s private sector saw a surge in non-performing loans (NPLs) as credit shrank by 1.4 per cent in the 12 months to December 2024, a sharp reversal from the 13.9 per cent growth recorded in 2023. Central Bank of Kenya (CBK) data shows that this decline in credit follows the combined effects of tight monetary policy, elevated lending rates, and the appreciation of the shilling, which reduced the value of foreign currency-denominated loans.
Aviator hits headwinds as noose on gaming tightens

3 weeks ago | peopledaily.digital | Noel Wandera

| Kenya’s gaming industry faces a major shake-up as the Betting Control and Licensing Board (BC&LB) cracks down on standalone crash and aviator game applications, even as the world considers the sector a gray area amid surge in online betting. In a decisive move, the regulator has mandated that all such games operate exclusively on licensed platforms, effectively banning independent apps and websites.
Forex tax exemption eases costs for businesses, but strains KRA’s collections

4 weeks ago | peopledaily.digital | Noel Wandera

| Kenyan businesses and consumers have got a major reprieve after the Tax Appeals Tribunal (TAT) ruled that foreign exchange (forex) margins are exempt from excise duty. This decision overturns the Kenya Revenue Authority’s (KRA) long-held position that profits from currency conversion qualify as taxable fees, potentially lowering transaction costs while complicating the tax agency’s revenue collection efforts.
Absa shareholders to take home Sh9.5b in dividends

1 month ago | peopledaily.digital | Noel Wandera

| Absa Bank Kenya more than doubled its dividend payout to Sh9.5 billion, translating to Sh1.75 per ordinary share, as its net profit for the year ended December 31, 2024, surged to Sh 20.9 billion. During the period, total revenue grew by 14 per cent to Sh62.3 billion, driven by a 15 per cent increase in net interest income to Sh46.2 billion and an 11 percent rise in non-interest income to Sh16.1 billion.
Uchumi’s voluntary arrangement leaves creditors owed over Sh3b

1 month ago | peopledaily.digital | Noel Wandera

| Years after entering a Company Voluntary Arrangement (CVA), Uchumi Supermarkets is still struggling to clear its debts, leaving critical stakeholders unpaid and raising fresh concerns over transparency in its recovery efforts. The retailer still owes Sh31 million to trade creditors, Sh2 million to landlords, and Sh8 million in staff salary arrears, with an additional Sh1 million outstanding to regulatory bodies.
Kenya’s domestic debt jumps to Ksh6.12 Trillion

1 month ago | peopledaily.digital | Noel Wandera

| Kenya’s domestic debt has risen significantly, increasing by 26.7 per cent from Sh4.83 trillion in June 2023 to Sh6.12 trillion in March 2025. This increase shows the government’s growing appetite for short-term borrowing, which could harm long-term financial stability and reduce the availability of credit for businesses. A report from the Central Bank of Kenya (CBK) for the period ending March 14, 2025, shows that Treasury Bonds make up over 84 per cent of government securities.
Business ownership in Kenya grows by 7pc as full-time jobs decline

1 month ago | peopledaily.digital | Noel Wandera

| Kenya’s economic pulse is shifting as business ownership rises while full-time employment declines, signalling an evolving approach to financial security amid persistent cost-of-living pressures. The latest MoneyMarch 2025 report by Tala reveals that business ownership increased by 7 percentage points in 2025, while reliance on full-time employment as a primary income source fell by 5 per cent year-on-year.