News and Analysis
April 1, 2026
Hello and welcome to the Money News Roundup Newsletter, where we cover the weakening of the shilling and the fuel increase that has been witnessed in neighbouring countries ahead of EPRA’s review.
The Kenyan shilling has crossed the 130 mark against the dollar for the first time since August 2024, amid gradual depreciation linked to the ongoing Middle East conflict.
As reported by the Business Daily, in the interbank market, the currency traded at Ksh130 per dollar, weakening from Ksh129.93 a day earlier, as demand for dollars rose among importers hedging against rising global prices.
The Central Bank of Kenya has cushioned the market by supplying dollars from its reserves, which stand at about Ksh1.82 trillion ($14 billion), helping limit volatility.
Pressure on the shilling is largely driven by rising oil prices and supply disruptions from Gulf countries, forcing Kenya to seek costlier imports and increasing forex demand.
For the latter months of 2025 and the beginning of the year, the dollar was trading at Ksh129.02.
The weakening of the shilling is expected to impact the cost of commonly used items such as fuel, cars and food items that are imported into the country.
Tanzania has increased fuel prices occasioned by the rising costs globally. In Dar es Salaam, petrol now sells at Ksh191.44 per litre, up from Ksh143.53 in March, while diesel jumped to Ksh190.74 per litre, a more than 30% increase within a month.
As reported by Mwanzo TV, the hikes are linked to the Middle East conflict involving the US, Israel, and Iran, which disrupted oil production and closed the Strait of Hormuz.
Global reference prices rose nearly 70% for petrol and over 114% for diesel, pushing up import costs.
While the Ugandan government does not set a cap on fuel prices, NTV Uganda has reported a price increase, with petrol now retailing at Ksh184 to Ksh187, up from Ksh178.73 reported on March 15. Diesel prices range from Ksh174 to Ksh181, up from Ksh171.86.
In Ethiopia, the government increased the price of Diesel from Ksh116 (139.84 birr) to Ksh135 (163.09 birr) in its review done on April 1. Petrol prices were also increased from Ksh118 to Ksh108.
In Rwanda, petrol is retailing at Ksh176.71 and Ksh173,20 for diesel. The government is expected to have its next review in May 2026.
In Kenya, EPRA is expected to announce new pump prices on April 14 amid speculation of an increase.
KRA has introduced a WhatsApp bot named Shuru that allows taxpayers to file their returns through the platform, in a move aimed at simplifying the tax filing process ahead of the June 30 deadline.
As reported by Citizen Digital, the new system enables users to start a conversation on WhatsApp via phone number 0711099999, choose the type of return they want to file, and verify their identity using their KRA PIN.
Once verified, the platform automatically reviews a taxpayer’s filing history, flags any outstanding obligations, and guides them through completing their returns or making payments.
KRA says the service provides real-time assistance, helping taxpayers resolve issues instantly while filing, reducing the need to navigate complex systems.
The Sacco Societies Regulatory Authority (SASRA) has directed all regulated SACCOs to implement mandatory data backups and enhance cybersecurity ahead of the upcoming long public holidays.
In a circular to CEOs, the regulator warned that cyberattacks and system breaches tend to rise during long weekends, especially around public holidays.
As reported by Capital Business, the directive covers the Good Friday to Easter Monday period (April 3–6) and the Labour Day weekend (May 1–3).
SACCOs must conduct offline backups of critical data, strengthen monitoring of ICT systems, and deploy 24/7 surveillance teams.
SASRA also flagged risks in digital channels, third-party systems, and insider threats, warning that non-compliance will attract accountability.
KCB Group CEO Paul Russo has been appointed to the Governing Council of the newly established National Infrastructure Fund, a panel set up by President William Ruto to drive investment-led infrastructure financing.
The council, chaired by Treasury CS John Mbadi, was constituted following the enactment of the National Infrastructure Fund Act, 2026, aimed at reducing reliance on debt.
As reported by the Standard, other members include CBK Governor Kamau Thugge and Attorney-General Dorcas Oduor, alongside independent appointees.
The fund targets mobilising Ksh5 trillion over the next decade to finance projects in transport, energy, and agribusiness.
Its first task will be recruiting a board and CEO, with oversight measures strengthened through parliamentary approval.
HF Group recorded a profit after tax of Ksh1.42 billion for the year ended December 2025, the highest in its history, marking a strong recovery from past losses.
According to the Kenyan Wall Street, the turnaround was driven by a 66% increase in government securities to Ksh28.27 billion, generating Ksh2.83 billion in investment income, while loan growth remained modest at 5.8%.
Customer deposits rose 18.4% to Ksh56.9 billion, while total assets crossed Ksh82.4 billion. Lower funding costs boosted net interest income by 63.8% to Ksh4.36 billion.
Core capital hit Ksh10.15 billion, prompting CBK to reclassify HFC as a Tier II bank. However, no dividend was declared.
Kiharu MP Ndindi Nyoro and Thika Town MP Alice Ng’ang’a have acquired shares in Kenya Airways (KQ), joining top individual investors as the government seeks new capital for the airline.
As reported by the Business Daily, Nyoro bought 10.4 million shares worth Ksh49.2 million, becoming the second-largest individual shareholder, while Ng’ang’a acquired 2.3 million shares valued at Ksh11 million.
Their entry comes as Treasury plans to bring in investors to inject Ksh258 billion into the struggling carrier, which posted a net loss of Ksh17.1 billion in 2025.
Kenya Airways’ negative asset position stands at Ksh132 billion despite a market valuation of about Ksh27.8 billion.
The investments reflect growing interest from political figures in NSE-listed firms amid recovery opportunities.
Equity Group CEO James Mwangi received a Ksh90.8 million bonus for leading the bank to a record net profit of Ksh71.9 billion in 2025, the highest among Kenyan companies, ahead of KCB Group and Safaricom.
As reported by Equity Bank, his total compensation for the year rose to Ksh275.7 million, up 65.8% from Ksh166.28 million in 2024, marking the first time his pay crossed Ksh200 million.
The package includes Ksh124.86 million in salary, Ksh37.45 million in gratuity, Ksh10.78 million in allowances, and Ksh4.7 million in non-cash benefits.
Mwangi is also set to receive a Ksh734.9 million dividend from his 127.8 million shares, following an increase in the dividend per share to Ksh5.75.
Equity links executive bonuses to performance, while staff costs rose to Ksh39.46 billion amid workforce expansion.
United Bank for Africa (UBA) Kenya has returned to profitability, posting a net profit of Ksh426.8 million for the year ending December 31, 2025, compared to a loss of Ksh586.75 million in 2024.
As reported by Capital Business, the recovery was driven by a 76% rise in customer deposits to Ksh16.1 billion, boosting its funding base.
The bank also received additional capital from its parent company, UBA Plc, to meet the Central Bank of Kenya’s minimum core capital requirement of Ksh3 billion.
Chairman George O. Otieno said the turnaround reflects strong confidence in Kenya. UBA Kenya also invested Ksh19 billion ($150 million) in the government’s Road Securitisation Programme to support infrastructure development and unlock liquidity.
Bamburi Cement has appointed Geoffrey Ndugwa as its new Chief Executive Officer, effective April 1, 2026.
Ndugwa returns to the company, having previously served as Commercial Director and General Manager of Bamburi Special Products, bringing experience in product development, marketing, and operations.
As reported by Capital Business, the company said Ndugwa’s appointment will support its focus on improving efficiency and driving market growth amid rising competition in the cement sector.
He also brings experience in financial services, expected to strengthen strategic positioning.
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