Amazon Wealth

29/06/2026

For three rainy seasons, the valley stood only because the Termite repaired it while everyone else slept. So whenever a crack appeared, every animal expected the Termite to fix it. And when he's done, they would hail and say among themselves: "No one builds like the Termite."

Then, one evening, a deep fracture opened. The Squirrel, Otter, and Deer panicked. They found the Termite asleep and woke him.

“We need to fix the new crack,” said the Deer. “It is urgent.”

The Termite looked at his aching body and struggled to his feet.

“Can you hand me clay?” he asked.

The Deer looked away.
The Otter checked the water.
The Squirrel tapped his foot impatiently.

“Just do what you always do,” the Deer said.

The Termite looked from face to face. Not one animal stepped forward.

He looked at the size of the three animals, then at his own size, and sighed. He went into his hole, gathered his belongings, and began walking toward higher ground.

“Where are you going?” the Deer shouted. “The wall is breaking!”

The Termite didn't look back.

As the water surged into the valley, the Termite kept walking.

“If they wanted walls,” he muttered, “they would have to learn how to build them.”

-— AJAMBELE
What the Animals Know - Book 15

29/06/2026

27/06/2026

By Ephraim Njenga>>

I have heard some people ask whether Special Funds are the next Ponzi scheme/pyramid scheme. There is no simple answer to those fears. Some special funds could eventually turn out to be scams.

When a financial product becomes overwhelmingly popular, it creates an environment in which Ponzi schemes can thrive. This is because other copycat schemes are established, and people start joining out of excitement without doing due diligence.

Special funds have higher returns because they take on higher risks. Investing in them without understanding the risks is setting yourself up for failure.

When you invest in a fund, it is your job to keep yourself updated on what they are investing in. The funds upload quarterly fact sheets with all these details. Take time to read such and seek clarification where necessary. If uncomfortable with the risks being taken, you can always opt out. If the disclosures are inadequate, that is a serious red flag.

When funds start using returns as a tool of attracting customers, there is always the risk of taking excessive risks. Some funds could even use proceeds from new entrants to pay overly high returns to existing customers. That is exactly how a Ponzi scheme works. Once the fund runs out of new entrants, it collapses. The latest entrants are left holding the empty bag.

The other risk is when funds start using influencers to market themselves. Financial products are complex, and influencers don't emphasise consumer education. They will emphasise the returns while ignoring the risks. It would be foolhardy to outsource financial decisions to influencers. You will cry in the toilet.

Funds should provide adequate disclosures and engage in intense consumer education. They should avoid marketing past returns as a guarantee of future returns. Competition shouldn't be based merely on returns. Emphasis should be on prudent investment decisions, even when it means reduced returns.

Risks should be communicated clearly. Risks and returns are two sides of the investment coin. Don't be too excited staring at the return side and forget looking at the risk side.

When choosing a special fund, find out its history and the firm behind it. Does it have a track record of running such a fund? Ensure the fund is licensed by the CMA. Compare the returns with what the market is offering in terms of the assets the fund has invested in. If the returns are way above what the market is offering, then you should be very careful. Don't chase returns blindly.

CMA needs to invest more in its capacity. With new entrants being licensed all the time, the regulatory capacity should be increased to match the rising responsibilities. Appropriate investor compensation mechanisms should be put in place for failures which are beyond the investors' control.

These special funds need serious regulatory monitoring and enforcement to ensure they are operating as per the law. CMA's role shouldn't just be about dishing out licenses.

26/06/2026

VALUE
Something doesn't add up... and that's exactly what makes the stock market interesting.
KCB has the largest asset base among listed banks. It also posts a higher EPS than Equity. Equity, on the other hand, delivers the highest profits. Their share prices are almost neck and neck.
Yet when I look at foreign flows, I see something different. Foreign investors have committed around KSh 375 million to KCB compared to about KSh 281 million in Equity.
Why?
Institutions rarely chase headlines. They chase value, liquidity and future returns. They may be seeing KCB as relatively undervalued despite its strong balance sheet and earnings power. They may also expect stronger earnings growth, a re-rating of the stock, or simply prefer its risk-reward profile at current prices.
Retail investors often ask, "Which bank made the biggest profit?" Institutional investors ask, "Which bank gives me the best return from today's price?"

That difference in thinking is what separates investing from speculating.

24/06/2026

🚨DIVIDEND BOOK CLOSURE ALERT
Today marks the book closure date for TotalEnergies Marketing Kenya PLC and Car & General (Kenya) PLC. To qualify for dividends to be paid on the announced dates, investors should either purchase or hold shares as of today.

TotalEnergies will pay the dividend on 31st July

Car & General will pay the dividend on 30th June

24/06/2026

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"If you were given KSh 1 million today, would you buy land, a house, or invest elsewhere?"