EPRA Reveals Date Kenya Will Start Exporting Turkana Crude Oil 

Hello and welcome to the Money News Roundup Newsletter. In today's edition, we look at the latest update on Kenya's journey to exporting crude oil from Turkana. We also cover Tanzania's new mandatory travel insurance requirements for foreign visitors. 

Kenya to Export First Turkana Crude Oil in Q1 2027 - EPRA

Kenya is on track to export its first crude oil from Turkana in the first quarter of 2027, with production expected to begin in December 2026.

As reported by KBC, EPRA Director of Petroleum and Gas Edward Kinyua said the South Lokichar Basin project is progressing within timelines outlined in the approved Field Development Plan.

The project, developed by Gulf Energy and PBV, received parliamentary approval in February 2026 after undergoing technical and commercial reviews. 

Kinyua noted that EPRA is closely monitoring development works ahead of the first oil target through the Port of Mombasa next year.

This comes even as President William Ruto announced that the government was in talks with Aliko Dangote for the development of a Pipeline connecting the crude oil production units in Turkana to Lamu. It is expected that the crude oil will be supplied to the Dangote refinery being set up at the Coast.

Meanwhile, EPRA assured Kenyans that the country has sufficient fuel supplies despite global market disruptions affecting major petroleum shipping routes.

The regulator is also developing strategic petroleum stock regulations and says the proposed Dangote refinery in Lamu will strengthen energy security by increasing local refining capacity and reducing supply risks.

TikTok Asks Kenyan Creators to Submit Tax Details 

TikTok has notified Kenyan creators that they must submit their tax information as the platform moves to comply with Kenya’s tax requirements.

Through a system notification seen by Money254.co.ke, creators have been asked to complete a Kenya tax form by providing details including their name, email address, physical address, country of residence and tax residency status.

TikTok said the information will help verify creators’ tax obligations and enable the platform to meet its payout requirements. The tax details will apply to earnings from existing and future monetisation programmes.

Kenyan creators currently earn through LIVE and video gifts, subscriptions and the Work With Artist programme. 

The move follows a similar requirement by YouTube, which requires creators to submit tax information and PIN verification details before receiving payments.

Tanzania to Roll out Mandatory Travel Insurance for Foreign Visitors

Tanzania has gazetted regulations requiring foreign visitors entering through airports, seaports and land borders to have mandatory travel insurance, potentially beating Kenya in implementing the requirement. 

As reported by the Business Daily, the cover will cost about Ksh5,700 (USD44), remain valid for up to 92 days and allow multiple entries. However, Kenyans and other citizens from EAC countries are exempt.

Kenya gazetted regulations in July requiring foreign visitors to have health insurance with a minimum benefit package of about Ksh6.4 million (USD50,000), covering medical expenses, emergency evacuation and repatriation. 

However, implementation has been suspended by the High Court following petitions challenging the Ministry of Health’s authority, public participation and the selection of insurers, leaving the rollout in limbo.

Govt to Appeal Court Ruling Nullifying Safaricom Stake Sale to Vodacom

The Government has announced plans to appeal a High Court ruling that declared unconstitutional the sale of its 15% stake in Safaricom to South Africa’s Vodacom Group. 

As reported by Capital Business, Treasury CS John Mbadi said the transaction followed due process, including approval by Cabinet and Parliament, and was designed to unlock value for taxpayers while preserving Safaricom’s strategic role.

He noted that the National Treasury is reviewing the judgment and will challenge it through the courts. The three-judge bench ordered the stake transferred to Vodacom to revert to the State. Vodacom has also confirmed it will appeal the ruling.

NSE Eyes Nairobi Listing for Dangote Refinery After Ksh209 Billion IPO 

Nairobi Securities Exchange (NSE) CEO Frank Mwiti has revealed plans to eventually cross-list Dangote Petroleum Refinery in Nairobi after first attracting Kenyan and East African investors to its ongoing IPO in Nigeria. 

As reported by the Kenyan Wall Street, Mwiti said the NSE wants retail investors, pension funds, asset managers and collective investment schemes to participate in the offer while positioning Kenya as a gateway for regional capital.

Dangote Refinery opened its IPO on September 14, offering 4.1 billion shares at about Ksh51.37 each to raise roughly Ksh209 billion, making it Africa’s largest IPO. Mwiti said a future Nairobi listing is under discussion with Dangote and Nigerian market regulators, though no timeline or approvals have been announced.

Co-op Bank, NCBA Join Lenders Offering Free Transfers Up to Ksh1,000 via Pesalink

Co-operative Bank and NCBA have joined a growing list of lenders offering free Pesalink transfers of up to Ksh1,000 and a flat Ksh20 fee for transactions above Ksh1,000 up to Ksh999,999. 

As reported by the Business Daily, the banks join KCB, Absa, DTB, Stanbic and several others under the "Tuma Direct na Mbao" initiative aimed at making bank-to-bank transfers cheaper and more competitive against mobile money platforms. 

The new pricing replaces tiered charges that could reach Ksh250. NCBA said the revised tariff will provide customers with more transparent and affordable digital payment options for both personal and business transactions.

Collapse of 13 Kenyan Startups Sees Investors Lose Over Ksh93 Billion

Twiga Foods has entered administration, becoming the latest Kenyan startup to collapse after raising significant investor funding. 

A Business Daily analysis shows 13 startups have failed, been wound up or placed under administration over the past five years after collectively raising more than Ksh93 billion. Twiga alone attracted about Ksh24 billion from investors.

Other high-profile casualties include Copia, Koko Networks, Lipa Later, Sendy, MarketForce, Mobius Motors and iProcure. The failures have cost thousands of jobs and exposed investors to heavy losses. 

Many startups struggled to achieve profitability, secure additional funding or survive difficult market conditions despite attracting substantial backing from international venture capital and private equity firms.

Also in the News

KRA has announced that it will waive penalties and interest arising from the recent intermittent downtime of the iTax Portal during September 2026. The tax authority said the waiver will apply to penalties and interest attributable to the verified period of system disruption, in line with Section 89(5A) of the Tax Procedures Act. . Read more

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