News and Analysis
June 23, 2026
Welcome to the Money News Roundup. Today, we cover the proposal to increase school fees for secondary schools. We also look at Family Bank's strong debut on the NSE, which saw its share price surge 44% on the first day of trading.
Public secondary school principals have proposed a review of school fees, arguing that the current funding model is no longer sustainable due to rising inflation, higher operational costs and delays in government capitation.
As reported by Nation, the proposal was presented to Education PS John Ololtua during the Kenya Secondary School Heads Association (KESSHA) conference in Mombasa.
Under the proposal, parents with children in national schools would pay up to Ksh87,781 annually after government capitation, while learners in extra-county schools would pay Ksh83,622. Day schools could charge Ksh7,675 per learner.
Currently, the school fees payable by parents are capped at Ksh53,554.
KESSHA says the actual annual cost of educating a learner in a national boarding school has risen to Ksh110,025.
According to KESSHA chairman Willy Kuria, the current fee structure was introduced in 2015 and no longer reflects the cost of running schools. He cited rising food prices, learning materials and the additional expenses associated with implementing Competency-Based Education (CBE).
The principals want either increased government funding or approval to charge higher fees.
The government has signed a contract with China Road and Bridge Corporation (CRBC) for the expansion of JKIA.
As announced by Transport CS Davis Chirchir, the project, estimated to cost about Ksh154 billion, will involve constructing a new terminal building and upgrading existing infrastructure.
According to the Ministry, more than 40 companies participated in a pre-bid conference held in April 2026 before the procurement process was concluded.
CRBC has already undertaken major projects in Kenya, including the Nairobi Expressway and Talanta Stadium.
The signing also comes against the backdrop of contradictory statements within government over the project's funding model, with Chirchir announcing a debt-financed structure involving approximately Ksh107 billion in borrowing, while Treasury CS Mbadi insists the upgrade will be financed without sovereign debt through the sale of state assets.
Meanwhile, there is a petition filed in court by the Consumer Federation of Kenya challenging the project.
Family Bank founder Titus Muya and his associates gained an estimated Ksh4.74 billion after the lender's share price surged 44% on its first day of trading at the NSE.
The first day of listing saw the share price experience wide volatility, rising to Ksh50 within two hours before settling at Ksh26 by the close of the NSE.
As reported by the Business Daily, the bank listed 1.66 billion shares by introduction at Ksh18 per share.
Muya and his associates, including family members and related companies, hold a combined 35.67% stake equivalent to 593 million shares. The value of their holdings rose from Ksh10.67 billion to Ksh15.42 billion.
Family Bank's market capitalisation also increased from Ksh29.9 billion to Ksh43.23 billion.
The listing makes Family Bank the 12th bank on the NSE and the first Kenyan bank to join the exchange since I&M Group's listing in 2013.
CBK closed a bond tap sale on its opening day after receiving overwhelming investor demand, raising Ksh29.24 billion against a target of Ksh20 billion.
As reported by the Business Daily, the tap sale, which opened on June 23 and was initially scheduled to run for three days, attracted bids worth Ksh31.01 billion, representing a performance rate of 155%.
Demand was largely driven by the 25-year FXD1/2021/025 bond, which drew Ksh24.62 billion in bids and was accepted at a yield of 14.86%. The 20-year FXD1/2018/020 bond attracted Ksh6.39 billion in bids and was accepted at 13.99%.
Travellers arriving in Kenya will now be allowed to bring in goods worth up to Ksh260,000 without paying customs duty following a major increase in the duty-free threshold announced by President William Ruto.
As reported by Capital Business, the limit has been raised from Ksh39,000, a move expected to benefit returning Kenyans, including those in the diaspora, as well as frequent travellers.
The announcement comes nearly three years after public outrage over luggage inspections and taxation of personal items at JKIA.
Speaking after signing the Finance Act 2026 and Appropriations Act into law, Ruto said the change is part of efforts to make tax administration fairer while supporting economic growth.
Kenyan taxpayers could face additional costs on the Ksh45.8 billion Talanta Sports City project after the Auditor-General warned that delayed payments to the contractor will attract interest charges.
As reported by the Kenyan Wall Street, the audit report revealed that by June 1, 2025, the project was 44.54% complete, yet only Ksh2 billion, or 4.5% of the contract value, had been paid. Under the contract, overdue payments attract interest at three percentage points above the Central Bank of Kenya's average base lending rate.
Auditors also raised concerns over the project's procurement and financing structure. The report noted a Ksh10.8 billion funding gap after the National Treasury approved Ksh35 billion for the project.
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