News and Analysis
October 13, 2026
Welcome to the Money News Roundup. Today, we cover the Ksh3.2 billion Old Mombasa Road contract awarded to a Chinese firm and CMA’s plan to introduce risk ratings for MMFs and Special Funds.
China Road and Bridge Corporation (CRBC) has secured a Ksh3.22 billion contract to upgrade seven kilometres of Old Mombasa Road linking the Nairobi Inland Container Depot (ICD) to Syokimau.
As reported by the Business Daily, the project, overseen by the Kenya Urban Roads Authority (KURA), will improve road capacity, drainage, safety and reliability. Construction was scheduled to begin on September 1, 2026, and run until April 28, 2029.
Works include pavement construction, drainage systems, utility relocation and installation of 279 streetlights. The contractor will also establish temporary gravel diversions to maintain traffic flow during construction.
The contract adds to CRBC’s extensive infrastructure portfolio in Kenya, including the Ksh86.8 billion Nairobi Expressway and the Standard Gauge Railway (SGR), built at a total cost of Ksh658.1 billion ($5.08 billion).
The Chinese firm is also involved in the Talanta Stadium project, the Nairobi-Nakuru-Mau Summit Highway and the proposed Ksh38.8 billion Galana Dam.
Nairobi remains Kenya’s strongest county economy, contributing 27.5% of national GDP, while Wajir, Mandera and Turkana rank lowest, according to the 2026 County Development Index (CDI) report.
As reported by the Star, Nairobi scored 0.96, with an estimated Gross County Product exceeding Ksh4.1 trillion. Kiambu followed with Ksh819.8 billion, Nakuru with Ksh771.8 billion and Mombasa with Ksh711 billion.
Nyeri completed the top five with an economy valued at Ksh265 billion.
At the bottom, Wajir scored 0.07, Mandera 0.09 and Turkana 0.12, reflecting limited industrial activity, low investment and underdeveloped private sectors.
The Capital Markets Authority (CMA) is developing proposals to introduce ratings for unit trusts, including Money Market Funds (MMFs), to help investors assess risks before committing their money.
The Business Daily reports that the proposed ratings will evaluate underlying assets, potential defaults, currency exposure, fluctuating returns, liquidity and fund managers’ ability to meet withdrawal requests.
CMA CEO Wycliffe Shamiah said the initiative would address investor concerns about disclosures and the safety of investments, particularly among ordinary savers lacking the expertise to assess risks.
The proposal comes as Kenya’s unit trust industry expands, with 4.14 million investors and assets under management reaching Ksh948.7 billion by June 2026, up from Ksh56.6 billion in March 2018.
The Court of Appeal has rejected the government’s application to suspend a High Court ruling that nullified the Ksh204.3 billion sale of its 15% stake in Safaricom to Vodacom.
As reported by the Citizen Digital, Judges Luka Kimaru, Johnson Okello and Kathurima M’Inoti ruled that the government had failed to meet the legal threshold for the orders sought.
On September 15, 2026, the High Court declared the transaction unconstitutional, citing inadequate public participation and transparency.
The government, through Attorney General Dorcas Oduor and Treasury Cabinet Secretary John Mbadi, had argued that reversing the transaction would expose the State to financial losses.
It cited Ksh204.3 billion in proceeds and Ksh40.2 billion paid in lieu of future dividends. The government’s appeal against the nullification remains pending.
Kenya Power’s unpaid electricity bills rose to Ksh41.5 billion by June 2026, including nearly Ksh8 billion owed by government institutions and state corporations.
As reported by Citizen Digital, government ministries and county governments accounted for Ksh7.35 billion, while strategic state corporations owed Ksh588 million. Households and private businesses owed the remaining Ksh33.56 billion.
Nearly Ksh20.4 billion had remained unpaid for over three months, prompting the utility to increase provisions for potentially unrecoverable debts to Ksh14.89 billion.
Kenya Power is also owed Ksh35 billion under the Rural Electrification Scheme, even as it reported a Ksh24.9 billion net profit in the last financial year.
The Bank of Uganda (BoU) has called an emergency Monetary Policy Committee meeting for October 14, following the Ugandan shilling’s continued depreciation against the US dollar.
As reported by the Kenyan Wall Street, the currency opened Tuesday at UGX 4,152.86 (about Ksh129.36) per dollar, marking a 12.8% decline since the end of 2025, amid foreign capital outflows and rising demand for dollars.
Bloomberg reported that approximately Ksh25 billion (USD200 million) exited Uganda’s financial markets over two weeks, as investors shifted towards US assets offering higher yields. The central bank’s benchmark interest rate stands at 9.75%.
The NSE has issued International Securities Identification Numbers (ISINs) to Standard Investment Bank’s MansaX Special Fund and MansaX Shariah Special Fund, marking a milestone in their institutional development.
Citizen Digital reports, the identifiers will enable banks, custodians, asset managers and institutional investors to identify, hold and report investments more efficiently, supporting integration into global financial markets.
SIB Executive Director Nahashon Mungai said the development would strengthen the funds’ infrastructure as they target investors. MansaX Special Fund received ISIN KE9930009213, while its Shariah counterpart received KE9930009437.
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