As I posted a while back, my take on the low volume and lack of meaningful price movement is that it is a financing overhang.
Back in September, Keith Hill said the company was planning a ~$200 million financing for "later this year". Whether they do it this year or early next year, it is coming. Other than that, AOI no specific timeframe or details although there has been speculation by some of the analysts that it will come right after Twiga results are announced. When there is no certainty as to timing, you often see low volume or lack of price conviction by market players.
I also think institutions are waiting for Twiga results for certainty about continuity in the "string of pearls" theory and they are waiting for the financing even though they know the share price will rise on good Twiga news. My understanding is that professional institutional investors are more comfortable being certain about an investment's merits and knowing they have to pay more for that investment, rather than paying a bit less and nopt being as certain. Plus, financings are generally done at a slight discount of around 5% or so below market prices anyway.
That's just my opinion on what's been going on for the past month or two.