After Land Rates Crackdown, Nairobi Govt Now Threatens to Revoke Business Licenses

Hello and welcome to the Money News Roundup Newsletter. Today, we are covering Nairobi County’s crackdown on businesses, Kimani Ichung'wah's declaration on the Finance Bill 2024, and the Ksh169 billion Kenyan companies are investing abroad.

Nairobi County Crackdown on Waste

Nairobi County Environment Chief Officer Geoffrey Mosiria has threatened to revoke the licenses of Nairobi businesses caught dumping waste illegally.

In a statement on Saturday, the chief officer—known for his in-person patrols across the city—stated that the affected businesses include Community-Based Organisations (CBOs), landowners, and private waste collection service providers.

Mosiria noted that the mushrooming of illegal dumping sites continually compromises public health across the city and that the perpetrators deserve hefty penalties.

What Mosiria is Saying: "I want to issue a stern warning to all Community-Based Organisations (CBOs) and private waste collection service providers using trucks: Stop dumping waste at illegal sites immediately... Any CBO or private operator found dumping at unauthorised sites will have their licenses revoked without further notice."

The Numbers: According to the county government, Nairobi produces 3,500 tonnes of waste daily.

"At the moment, we are solely depending on our county fleet for waste collection, as the contracts for county-contracted waste collection firms have expired. The process of engaging new contractors will begin in the next financial year. This gap has significantly affected our operations, leading to the accumulation of garbage across the city, as our current internal capacity is not sufficient to manage the over 3,500 tonnes of waste generated daily, most of it organic."

He further noted that landowners whose parcels have been converted into dumping sites have been directed to transfer the waste to Dandora; failure to do so will be penalised.

Catch Up Quick: Mid last month, the city government began clamping down on properties after landlords and landowners failed to pay land rates, even after several penalty waivers. According to Governor Johnson Sakaja, only 20% of the city’s landowners—about 50,000 out of 256,000 registered parcels—have been paying land rates.

The county government aims to collect over Ksh10 billion in outstanding land rates to boost service delivery.

Kimani Ichung’wah Claims Finance Bill 2024 Was Passed in December

National Assembly Majority Leader Kimani Ichung'wah on Sunday revealed that Parliament had quietly passed the Finance Bill, 2024, in December 2024.

A report by Kenyans.co.ke indicated that the lawmaker made the revelation during a church service in Kikuyu, stating, "We tried to enlighten them, but they did not listen to us. Finally, we decided not to pass it until people cooled down."

"For your information, because not many people know this, on June 25, we decided not to sign it. On December 4, 2024—only five months later—everything that was in the Finance Bill was passed quietly, without any deaths or stone-throwing, until 97 percent of it passed," he added.

The bill had initially been dropped in June last year after Gen Z and millennials took to the streets, protesting that it was too punitive.

Kenyan Firms Double Foreign Investments to $1.3 Billion in 2024

Kenyan companies more than doubled their investments in foreign markets in 2024, reaching $1.31 billion (about Ksh169.36 billion), up from $588 million (Ksh76.02 billion) in 2023, according to a report by the United Nations Conference on Trade and Development (UNCTAD). As reported by Business Daily, this 122.79% surge in outward foreign direct investments (FDIs) signals growing ambitions by Kenyan firms to expand offshore operations and tap into high-growth markets abroad.

Economist Churchill Ogutu of IC Group told Business Daily that the increase in outward FDIs is likely driven by mergers, acquisitions, and regional opportunities, particularly in East Africa’s private equity sector. He also pointed to economic uncertainty in 2023, which may have pushed firms to diversify and explore new markets, thereby expanding their global footprint.

PS Charles Hinga Accused of Interfering in Ksh1.93B Housing Tender

Housing and Urban Development Principal Secretary Charles Hinga has come under scrutiny for allegedly interfering with a Ksh1.93 billion affordable housing tender in Machakos, according to Business Daily. The Public Procurement Regulatory Authority’s (PPRA) review board found that PS Hinga overstepped his mandate by terminating the tender process and conducting due diligence on one of the bidders—actions deemed to have usurped the role of the tender evaluation committee.

In a ruling on June 3, 2025, the Public Procurement Administrative Review Board declared that Hinga “unfairly, unlawfully and illegally” disqualified Keddy Enterprises, which had been recommended for the award. The board ordered the Housing Ministry to proceed with the procurement process and reach a lawful conclusion within 30 days, emphasizing that the tender evaluation committee’s original recommendation should be respected.

MPs Dismiss Mass Public Input on Finance Bill as 'Spam'

The National Assembly Finance Committee has come under fire for dismissing thousands of public submissions on the Finance Bill 2025 as spam, the Standard reports. While the committee encouraged tech-based participation via email and QR code submissions, it claimed its systems were overwhelmed by identical messages that crashed servers. Many of the emails came through a platfor

Despite discarding the bulk of submissions, the committee dropped key proposals Kenyans opposed—like allowing KRA access to personal data and reclassifying zero-rated goods. It said the proposals breached privacy rights and would harm tax policy predictability and investor confidence.

The committee acknowledged receiving 164 emails rejecting VAT changes and digital loan taxes, six against KRA's data access powers, and 18 rejecting the entire Bill. Only eight emails supported it. Critics argue the move undermined public participation and silenced tech-savvy Gen Z voices.