News and Analysis
March 19, 2026
Hello and welcome to the Money News Roundup Newsletter, where we cover the auction of properties belonging to Cytonn. We also cover Helb defaults that have hit Ksh90 billion.
The government has opened the auction of multi-billion real estate assets linked to Cytonn Investments, paving the way for the recovery of about Ksh11 billion owed to over 3,000 investors.
As reported by Business Daily, the Business Registration Service (BRS) is inviting bids for properties under Cytonn High Yield Solutions (CHYS) and Cytonn Real Estate Project Notes (CPN), both placed under liquidation in January 2023 after defaults on investor obligations.
The auction follows a decision by the Court of Appeal of Kenya, which upheld earlier rulings and dismissed 19 appeals seeking to halt the process.
Courts found the structure linking CHYS, CPN, and multiple SPVs under Edwin Dande deeply intertwined.
Assets on sale include prime Nairobi developments such as The Alma (Ksh1.43 billion), Amara Ridge (Ksh502.8 million), and Taraji Heights, among others, as authorities seek to recover investor funds.
As reported by the Star, more than half a million former university students have defaulted on Ksh90 billion in loans, Auditor General Nancy Gathungu reports.
As of June 30, 2025, 563,949 accounts had no repayments, raising concerns about the sustainability of the Higher Education Loans Board (Helb) fund.
Of 731,789 matured accounts, the largest defaulters are recent graduates, with loans issued in the last five years accounting for 281,459 accounts worth Ksh39.6 billion. Loans aged five to 10 years add Ksh33.4 billion in defaults.
Helb faces a funding shortfall of Ksh3.3 billion, affecting tuition disbursements and university operations.
Recovery efforts through KRA and NISA data, written notices, and legal action have had limited success.
High unemployment and underemployment exacerbate defaults, threatening the revolving fund model that relies on repayments to finance new students.
Kenya and Russia have agreed to stop the recruitment of Kenyans into Russian military operations, following talks between Prime CS Musalia Mudavadi and Sergey Lavrov in Moscow.
As reported by Citizen Digital, Mudavadi said the deal ensures Kenyans will no longer be enlisted into Russia’s defence forces. The two sides also agreed to pursue a diplomatic resolution for those already recruited.
Lavrov maintained that Kenyans who joined did so voluntarily and must formally terminate their contracts with Russia’s defence ministry. Mudavadi acknowledged some were misled and noted such actions are illegal under Kenyan law.
Both countries will also provide consular support to affected Kenyans, including those hospitalised, as efforts continue to facilitate the return of those wishing to come home.
Kenya will begin exporting agricultural products to China duty-free from May 1, 2026, Agriculture CS Mutahi Kagwe has announced.
The move follows agreements secured during William Ruto’s state visit to China and signals a major step in expanding market access.
After meeting Ambassador Guo Haiyan, Kagwe said the deal removes tariffs that previously made Kenyan goods less competitive. Products set to benefit include tea, coffee, avocados, macadamia, flowers, and vegetables.
As reported by Capital Business, previously, tariffs ranged from 4% to 25% depending on the product. The removal is expected to boost exports to China’s 1.4 billion market.
In 2025, tea and coffee exports earned about Ksh 3.2 billion, growing 8.8% year-on-year.
Access to Hustler Fund data helped KCB Group grow its mobile loans by 30% to Ksh 544 billion in 2025, averaging Ksh 1.5 billion daily.
The fund, launched by the Kenya Kwanza administration, offers collateral-free loans at 8% annual interest, with 5% allocated to savings. KCB developed the credit scoring model, giving it insights into borrowers’ behaviour and risk profiles.
Since 2023, borrowers are rated across nine tiers, guiding loan limits and approvals.
Since launch, 27.42 million users have borrowed Ksh71.84 billion through personal loans, while group loans have disbursed Ksh 196.68 billion.
KCB’s profit rose 11.8% to Ksh 68.4 billion, supported by data-driven lending growth. Read more
Canal+ plans to reduce the cost of acquiring decoders and dishes following its acquisition of MultiChoice Group, in a bid to grow its subscriber base.
As reported by Capital Business, the firm will also hire more than 1,000 sales agents across markets to boost adoption. MultiChoice, which operates DStv and GOtv, has seen subscriber declines due to price hikes and competition from illegal streaming platforms.
Data from the Communications Authority of Kenya show that DStv users declined from 1.19 million to 188,824 by June 2025, while GOtv fell to 314,520.
In Kenya, equipment costs range between Ksh2,500 and Ksh8,000. Canal+ acquired MultiChoice for about Ksh258 billion ($2 billion) in September 2025.
Kenya Met forecasts heavy rains across most parts of the country this week, intensifying from Thursday, March 19, 2026.
As reported by Eastleigh Voice, the advisory, covering March 17–23, warns of potential flooding in low-lying areas.
Regions at highest risk include Nairobi, Mt Kenya counties, the Lake Victoria Basin, the broader Rift Valley, the South-eastern Lowlands, and the Coast. Northeastern and northwestern Kenya will remain mostly dry, with occasional showers.
Recent floods have claimed 66 lives nationwide, including 33 in Nairobi and have also led to the destruction of property worth millions.
The Nairobi Securities Exchange expects more listings of hard-currency debt and equity following the launch of the African Logistics Properties (ALP) dollar-denominated warehouse REIT, a first for the market.
The Reit raised Ksh3.81 billion ($29.5 million) from institutional investors, with a further Ksh646.1 million ($5 million) committed, bringing total proceeds to Ksh4.46 billion ($34.5 million).
As reported by the Business Daily, funds will be used to acquire additional properties in Limuru and Tatu City.
ALP rents in dollars, making the issuance attractive to foreign investors wary of currency depreciation. Centum Investments is expected to follow with its own dollar REIT.
NSE CEO Frank Mwiti said future plans include lowering investment minimums to allow retail investors access through platforms like Ziidi Trader. Recent CBK reforms have also improved dollar liquidity in the domestic market.
The Court of Appeal of Kenya has cleared Equity Bank Kenya Limited to auction the former Chase Bank Kenya Limited headquarters in Nairobi, allowing recovery of a debt exceeding Ksh1.3 billion ($9.5 million).
The loan to Riverside Mews Limited, secured by the Riverside Office Block and its rental income, fell into default after being issued in 2012 and later restructured. Equity Bank initiated auction proceedings following statutory notices.
Chase Bank, under liquidation by Kenya Deposit Insurance Corporation, argued the property was acquired using misappropriated depositor funds, but the court ruled there was no basis to stop the sale.
The High Court had upheld Equity Bank’s right to sell, citing a valid charge. The auction will help prevent further interest accumulation and recover the outstanding debt.
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