Audit Finds Civil Servants Hired Before They Were Born & Minors Receiving Salaries 

Welcome to the Money News Roundup. In today's edition, we highlight the findings of a government payroll audit and break down the distribution of 2025 KCSE candidates across universities. 

Audit Finds Civil Servants Hired Before They Were Born & Minors Receiving Salaries 

The government has uncovered a series of shocking payroll anomalies, including employees whose records show they were hired before they were born and minors receiving salaries, in an audit that estimates taxpayers lost Ksh6.2 billion through payroll fraud.

The internal review, commissioned by the Public Service Ministry last June, also found multiple salaries being paid to the same individual, employees sharing bank accounts, and workers receiving salaries despite having no bank account details on record.

Speaking to Citizen TV, Public Service Cabinet Secretary Geoffrey Ruku said the findings exposed deep weaknesses in the government's payroll system that have enabled widespread fraud.

The audit revealed that within the National Police Service, Ksh313.6 million was channelled to a single personal bank account in one financial year, while another Ksh20 million was paid to employees without valid bank account details.

At the Department of Immigration, auditors flagged Ksh31.5 million in unsupported salary arrears, duplicate salary payments and payments to employees for periods they did not work.

The government has ordered all ministries, departments and state agencies to migrate to the revamped Integrated Human Resource and Payroll System to eliminate payroll fraud and improve accountability.

The DCI is currently investigating the payroll fraud.

Lobby Group Wants Dangote's Ksh2.2 Trillion Lamu Oil Refinery Halted

Environmental lobby group Greenpeace Africa has called for the immediate suspension of the approval process for the proposed Ksh2.2 trillion oil refinery in Lamu, warning that the project could cause irreversible environmental damage.

As reported by Kenyans.co.ke, Greenpeace Africa argues that the refinery threatens Lamu's mangrove forests, coral reefs, and seagrass beds.

The group also warned that the project could increase the risk of oil spills, marine pollution, habitat destruction, and poor air quality, while locking Kenya into long-term dependence on fossil fuels.

The proposed refinery is expected to be developed through a partnership between the Kenyan government, Dangote Group, and other private investors. The project, which is scheduled to break ground this month, is expected to be completed within five years.

Number of Dollar Millionaires in Kenya Increases by 20%

The number of high-net-worth individuals (HNWIs), people with a networth of Ksh129 million and above in Kenya, grew by up to 20% in 2026, marking a sharp increase from the up to 10% growth recorded in 2025, according to the latest Knight Frank Wealth & Investment Trends report.

As reported by Capital Business, the report shows that 44% of wealth managers recorded growth of between 11% and 20% in their HNWI client base. Another 31% reported growth of up to 10%.

Knight Frank said the shift points to stronger momentum in wealth creation. 

However, only 6% of respondents managed portfolios worth between Ksh64 billion ($501 million) and Ksh129 billion ($1 billion), highlighting the continued scarcity of ultra-high-net-worth individuals in Kenya.

KU and Maseno Top University Placement

Kenyatta University has emerged as the institution with the highest number of students placed by the Kenya Universities and Colleges Central Placement Service (KUCCPS), admitting 11,224 students in the latest placement exercise.

As reported by Nation, Maseno University ranked second with 9,196 students, followed by the University of Nairobi and Chuka University, which each admitted 8,604 students.

Kisii University received 7,903 students, ahead of Masinde Muliro University of Science and Technology (MMUST) with 7,586, while the University of Eldoret admitted 6,671 students.

Further down the list, Kabianga University received 5,044 students, Rongo University admitted 4,784, and Machakos University rounded out the top ten with 4,377 students.

Hurupay Halts Cross-Border Payments, Crypto Services in Kenya

US-based digital payments firm Hurupay has suspended its US dollar banking and cryptocurrency services in Kenya, cutting off freelancers and businesses from receiving payments from overseas clients, friends and family.

As reported by the Business Daily, the company informed users that payments sent to its US dollar accounts will now be rejected and refunded. Hurupay, which also exited Nigeria, did not explain the decision.

Founded by Kenyans and incorporated in the US, the platform had become popular for enabling users to receive foreign payments, convert them into stablecoins or cash, and transfer funds to local bank accounts or M-Pesa.

The move comes as Kenya remains on the Financial Action Task Force (FATF) grey list, triggering tougher anti-money laundering checks. Earlier this year, PayPal also froze and restricted some Kenyan accounts over enhanced compliance requirements.

Kakuzi Loses Bid to Block Surrender of 3,200 Acres

Agricultural firm Kakuzi has lost its bid to stop the implementation of a government directive requiring it to surrender more than 3,200 acres of land in Murang'a for the settlement of alleged squatters.

The Environment and Land Court dismissed the company's application to suspend a 2025 Kenya Gazette notice pending the hearing of its appeal, saying Kakuzi failed to meet all the conditions required for a stay order, including providing security.

The dispute stems from recommendations by the National Land Commission (NLC), which directed Kakuzi to cede the land and an additional 50 acres to the Murang'a County Government for public amenities. Read more