Charlie Munger: "Warren and I learn a lot from other people’s mistakes. That is a much more pleasant way to learn hard lessons. We find it so interesting, the great variety of human mistakes and their causes"

Equity Bank has made a second bank acquisition in Rwanda. The deal's conclusion will make it the second biggest bank upon amalgamation with the existing unit there.

7-Year IFB comes in with a performance rate of 367.5%. Was seeming to raise KES 60B but got bids of KES 220.5B. They have accepted KES 212.4B. The weighted average rate of accepted bids of 15.84%

Kenya Revenue Authority has dropped a KES 400 million excise duty demand against SBM Bank Kenya related to the Chase Bank acquisition. This was after SBM Kenya successfully appealed against the decision in the High Court.

Kenya's tea industry exports were affected by fx issues in Pakistan. Exports to Pakistan were down 50% YoY in March 2023.

Top 10 destinations for Kenyan tea in March 2023 (YoY, Kgs): —Pakistan: -50% to 8.0M —Egypt: -25% to 7.7M —UK: -23% to 2.5M —Iran: +1493% to 2M —Yemen: +19% to 1.8M —Afghanistan: +63% to 1.1M —Russia: +63% to 1.1M —UAE: -60% to 841K —Sudan: -74% to 745K —S. Arabia: 32% to 740K

Visa [@Visa] launches the Visa Africa Fintech Accelerator program: —Focuses on enabling expertise, connections, technology, and investment funding. —To take 40 start-ups each year through a three-month intensive learning program —Capital investment in some select businesses

At Mwango Capital, we focus on research & analysis of East African companies and economies, layer it with some good memes & light-hearted humor and deliver it via digital platforms. If you have research work in business that you need done, we can be your outsourced analysts.

Join #MwangoSpaces tonight as we discuss the ins and outs of building an African startup in 2023. Host: —@deangichukie Co-founder & CGO, Quikk API Guests: —@GregorPannike Managing partner, Agema Analysts —@osiloke Co-founder & CTO, Tutadoo —@ToneeNdungu Co-founder & CEO,…

Nigeria has officially floated its naira currency after years of a hard peg. A market rate based on a willing buyer and a willing seller is currently being quoted by banks. The rate being quoted is between N750 and N755 per dollar. [@BusinessDayNg]

Hearing for nominee of Chair of the Commission on Revenue Allocation:

Ni this Friday btw.

For the lazy ones like us, here is the searchable pdf:

"In terms of reading financial history, I’ve always been absorbed with reading about disasters. The financial area will give you plenty of material if you like to be a follower of folly. We have been a student of other people’s folly, and it’s served us well" — Buffett

EPRA is listening 😅