Thread by @MwangoCapital

𝗧𝗵𝗶𝘀 𝘄𝗲𝗲𝗸'𝘀 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗺𝗲𝗺𝗲𝘀 𝗮𝗿𝗲 𝗯𝗿𝗼𝘂𝗴𝗵𝘁 𝘁𝗼 𝘆𝗼𝘂 𝗯𝘆 𝗦𝗵𝗮𝗿𝗲𝗛𝘂𝗯 [@ShareHubKE]:

1. NHIF was a top news item.

We learnt that top earners are to pay more in monthly contributions but NHIF will stop paying for treating chronic diseases.

2. The Deputy President made some remarks about DRC and the country's citizens were up in arms about them.

Equity Bank [@KeEquityBank] and Kenya Airways [@KenyaAirways], who have business in DRC, were just chilling but got caught in the middle:

#MwangoMemes

3. Property fund manager Ilam Fahari I-Reit [@ILAMReit] has issued a profit warning (projecting a 25% drop in 2021 earnings).

This brings to 5 the number of companies at the NSE who have issued profit warnings in 2022.

#MwangoMemes

4. The Central Bank of Kenya is considering issuing a Central bank digital currency (CBDC) that will take on the the transaction fees currently charged on digital payments on platforms like M-pesa:

#MwangoMemes

5. Speaking of M-Pesa, it has grown to constitute 33% of total service revenues in FY 2021 at Safaricom (up from 4% in 2009).

M-Pesa + data revenues are now 51% of total service revenues:

#MwangoMemes

6. A small break to give you a message from our partners this week ShareHub [@ShareHubKE].

Don't dive into the stock market hivi hivi. You might get burnt! Make sure to try trading in the simulated environment that ShareHub provides.

Download and start playing!

#MwangoMemes

7. Hope you got yourself a drink during the break.

Speaking of drinks, bar owners and liquor traders in Nairobi will get a relief after the county assembly proposed a 50% reduction in licence fees.

They must be having a few drinks, on the house, to celebrate:

#MwangoMemes

8. A small trip to Nigeria where Flutterwave [@theflutterwave] made waves by becoming the most valuable startup in Africa at ~USD 3B (Tripling the valuation in 1 year!)

The company was launched in 2016 btw & is now bigger, in valuation, than any listed bank in Nigeria!

9. We posted a chart showing Mwalimu sacco as the biggest SACCO in Kenya by asset size with KES 58B in assets.

@stimasacco and @police_sacco came in a distant second and third respectively:

#MwangoMemes

10. Kenyan MPs petitioned the Treasury to include an additional KES 11.7B in the budget for free cars for each, a sendoff package for their aides & extra millions for a mortgage and medical insurance payments.

Weh!

#MwangoMemes

11. KCB and Equity got the green light to auction City Hall and Tuskys assets respectively regarding unpaid debts!

#MwangoMemes

12. FYI, 2500 trees were brought down to pave way for the Expressway.

This week, Nema [@NemaKenya] gave the contractor, China Bridge and Road Corporation until the end of March to plant 3,000 assorted seedlings along the Expressway. Iko Kazi.

#MwangoMemes

13. We also learnt that Kenyan taxpayers continued to pay the salaries of 50 doctors who were sent to work in Seychelles during the Covid-19 response campaign.

#MwangoMemes

14. The National Oil Corporation of Kenya wants a KES 13B bailout from the National Treasury to partly to pay bank loans (KES 6.6B) and meet operating costs (KES 3B).

Iko sida.

#MwangoMemes

15. We learnt that 97% of trading accounts at the NSE are dormant.

This means that a majority of retail investors do not trade after opening their accounts.

#MwangoMemes

16/16 Quite a week that one!

Thanks to our memes specialists [@Wanjiku_Njuguna + @kahome_steve] for putting this together.

Special thanks to our partners this week @ShareHubKE. Do download their app and start playing.

See you next week for more #MwangoMemes!