The Mwango Capital Podcast

Ask Arvocap Anything 20.07.2026 1ч 4мин

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 Notes00:00:00 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 Fund 00:33:17 Lock-in and Liquidity 00:38:26 Global Equity Fund 00:47:35 Eurofix Fixed Income Fund 00:57:06 Goal-Based Investing and Closing Remarks Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Understanding Family Medical Cover with AAR 08.07.2026 39мин

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 Notes00:00:00 Introduction 00:04:03 Key Gaps that FAARmily Suite Addresses 00:08:04 Dependants and Documentation 00:10:45 Accessibility and Sustainability 00:13:53 Wellness Programs 00:15:51 Maternity and Seniors Eligibility 00:18:39 Transition of Junior Covers to Adult Covers 00:20:35 Future-proofing the Business through Tech 00:23:38 Non-traditional Families and Diaspora Customers 00:36:16 Future of Family Medical Covers Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Best Practices in Filing Tax Returns 23.06.2026 50мин

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 Notes00:00:00 Introduction 00:04:13 Common Filing Challenges 00:06:04 eTIMS 00:11:57 Penalties & Interest 00:16:55 Freelancers and Consultants 00:19:20 KRA Audit Triggers 00:25:48 Turnover Tax 00:28:55 Handling Audit Notices/Assessments 00:44:23 Return Amendments 00:46:48 Closing Remarks Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Bonga na CEO Centum Investments 17.06.2026 1ч 1мин

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 Notes00:00:00 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 00:38:29 NAV Gap 00:51:42 Strategy and Pitch Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

TRIFIC’s Green I-REIT 29.05.2026 51мин

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 Notes00:00:00 Introduction00:01:30 Broad Overview of TRIFIC00:04:02 Why a Dollar-Denominated I-REIT00:08:39 Use of Funds, REIT Structure, and Offer Size00:18:25 USD Yield Return vs T-Bills00:21:17 Tenant Mix and Debt Strategy00:25:12 Green Certification, Demand, and Leasing Pipeline00:31:21 Investor Interest and Liquidity00:39:11 Cost Control, Vision, and Scale00:45:16 Key Details on the I-REIT and Closing Remarks Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Car and General FY25 Results 28.05.2026 41мин

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 Notes00:00:00 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 EV Market 00:38:13 Closing Remarks Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Unpacking Delmonte Kenya's Footprint 21.05.2026 37мин

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 Notes00:00:00 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 Sustainability Metrics 00:34:19 Outlook, Innovation, and New Product Lines Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

SanlamAllianz Unpacked 17.05.2026 51мин

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 Notes00:00:00 Introduction00:05:15 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 Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Financing What Matters in Kenya's Budget 11.05.2026 55мин

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 Notes00:00:00 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 00:45:56 Limited Trust in the Domestic Debt Market 00:50:10 Policy Change Recommendations Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

The I&M Bank MTN 08.05.2026 36мин

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 Notes00:00:00 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 Quality 00:31:18 Key Details and Final Pitch Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Competition Law Enforcement 30.04.2026 54мин

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 Notes00:00:20 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 00:34:32 Limited Uptake of Leniency Programs 00:38:07 Market Studies and Inquiries 00:49:59 Report Recommendations and Closing Remarks Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Stanbic Uganda 30.04.2026 55мин

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 Notes00:00:00 Introduction 00:03:41 Economy and the Banking Landscape 00:05:28 Stanbic Uganda’s Structure00:09:11 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 Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Climate Finance in Kenya 25.04.2026 1ч 7мин

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 TreasuryHost: Ramah NyangSubscribe to get notified when we make a new post.Show Notes00:00:00 Introduction00:04:45 What Is FLLoCA00:08:41 Climate Mitigation and Adaptation00:11:51 Locally Led Solutions, Cost of Inaction, and Access to Climate Finance00:21:50 Polluters Pay Vs Domestic Financing00:31:43 Incentives and E-Mobility00:34:12 County Funds Oversight, Audits, and Carbon Credits00:47:31 Climate Justice Funding Gap00:51:38 Tracking Climate Finance and the National Climate Fund00:56:57 Focus on Mitigation01:01:53 Dealing with Misuse of Climate Funds Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

SBM: Financial Literacy for the Next Generation 21.04.2026 55мин

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.Subscribe to get notified when we make a new post.Show Notes00:00:00 Introduction00:04:42 Starting Financial Literacy Early00:16:06 Debunking Kenyan Money Myths00:23:40 Teaching Financial Literacy in a Cashless World00:30:33 Building Habits and Work Ethic00:39:35 Longterm Impact of Financial Literacy in Children00:45:16 Staying Safe in the Digital Space00:48:02 Role of Giving in a Child’s Financial Education00:50:24 Product Roadmap and How to Sign up onto Busara App Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

I&M FY 2025 Results 14.04.2026 45мин

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 2026Subscribe to get notified when we make a new post.Show Notes00:00:00 Introduction00:03:30 FY 2025 Highlights and Restatement of 2024 Financials00:08:13 Interest Income, Customer Deposits, and Loan Growth00:16:22 Wealth Management, Asset Quality, and NPLs00:20:15 OpEx, CapEx, and Regional Performance00:27:55 Capital Allocation, Digital Banking, and AI00:33:30 Impacting Communities00:35:20 Banking App, AI in Lending, Loans to Related Parties, and Governance00:39:30 Increased Investment in G-Secs, Rates Outlook, and Strategy00:42:49 Life Advice and Closing Remarks Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Assessing Kenya's Debt Situation 09.04.2026 1ч 4мин

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 SecuritiesSubscribe to get notified when we make a new post.Show Notes00:00:00 Introduction00:01:33 The Debt Transparency Problem and Why Fiscal Consolidation Fails00:09:17 Securitization, Supplier Debt, And Pending Bills00:23:19 IMF’s Pushback against Securitization and Lessons from Ghana00:26:44 Ringfencing and Revenues/Proceeds Disclosure00:32:02 Securitization Lessons from 2008 Financial Crisis00:40:20 Auditing Kenya’s Debt00:46:22 Tanzania’s Debt Transparency Model00:51:56 Why Governments Avoid Transparency?00:56:42 Tanzania’s Single Treasury Account00:58:24 The Transparency Risk Premium01:01:24 Policy Changes to Enhance Debt Transparency Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Stanbic Holdings' FY 2025 Results 25.03.2026 56мин

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.Subscribe to get notified when we make a new post.Show Notes00:00:00 Introduction00:00:47 Group Structure and Strategic Pillars00:10:48 Top Line and New Loan Pricing00:16:42 Interest and Non-interest Revenue00:21:54 Why Invest in Stanbic00:24:36 Costs, NPLs, and Risk Management00:29:13 Loan Growth, Profitability, and Dividend Policy00:35:24 S. Sudan, SBG Securities, and Bancassurance00:40:06 Capital Buffers and Mergers & Acquisitions Strategy00:47:11 AI in Banking Operations00:51:20 Outlook and Closing Thoughts Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Absa Kenya’s FY25 Results 24.03.2026 38мин

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.Subscribe to get notified when we make a new post.Show Notes00:00:00 Introduction00:00:53 What Makes a Good CFO?00:01:54 Overview of the FY2025 Results00:03:54 Loan Demand, NPLs, Risk Outlook, and Rate Stability00:08:38 FX and Non Funded Income Growth00:10:18 Cost Efficiency, Tech, and Investment in Gov’t Securities00:13:23 CIB Competition and Consolidation00:15:18 Group CEO Ambitions, M&A Strategy, and Value Proposition00:20:31 Profitability and Dividend Strategy00:24:29 Branch Strategy, Insurance, and Asset Management00:29:33 Regulation, Benchmark Rates, SME Sentiment, and 2026 Outlook00:34:34 Key Takeaways and Closing Thoughts Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Inside Kenya's Moody's Rating Upgrade 16.03.2026 43мин

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.Subscribe to get notified when we make a new post.Show Notes00:00:00 Introduction00:03:27 Methodology in Ratings00:06:59 Kenya’s Upgrade Explained00:10:18 FX Reserves, KES Stability, Market Access, and Buybacks00:16:51 Securitization, Domestic Borrowing, and Revenue Risks00:25:16 Outlook and Key Risks00:29:04 How does Kenya compare to Peers on Debt Distress?00:32:09 Public Private Partnerships and the Macro-Micro Divide00:37:31 ESG Scores and Ratings Withdrawal00:41:24 Key Takeaways and Closing Remarks Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe

Understanding Ziidi Trader 12.03.2026 1ч 9мин

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 HoldingsSubscribe to get notified when we make a new post.Show Notes00:00:00 Introduction00:07:40 Ziidi Trader and its Key Differentiators00:11:51 Omnibus Structure and Share Ownership00:17:59 Onboarding, Fees, and Trading Costs00:23:03 Backend Execution, Liquidity, and Market Hours00:33:34 Order Matching, Cancellations, and Dividend Payout00:37:21 Order Book, Reversals, and Nominee Voting00:41:48 The Future of Ziidi Trader00:44:31 How To Buy Shares00:51:46 Access for Investors in the Diaspora00:55:31 Customer Support, Trading Limits, Market Risk, and Investor Education01:02:17 Closing Remarks Get full access to The Mwango Weekly at mwangocapital.substack.com/subscribe