News and Analysis
June 3, 2026
Hello and welcome to the Money News Roundup Newsletter. Today, we unpack the government's U-turn on a planned electricity tariff review. We also break down the NCBA takeover deal, including how much the bank's top shareholders stand to earn from Nedbank's Ksh109.6 billion acquisition offer.
The government has withdrawn plans to review electricity tariffs from July 1 after Kenya Power pulled its application for new power prices.
As reported by Eastleigh Voice, Energy CS Opiyo Wandayi said the move followed consultations within government and engagement with key stakeholders, with authorities opting to shield households, businesses and industries from higher electricity costs.
The proposed tariff review was expected to unlock additional funding for the energy sector and support key projects, including upgrades to Kenya's electricity transmission and distribution network.
The withdrawal comes just weeks before current tariffs are due to expire at the end of June and after public participation meetings on the proposed changes were postponed. For now, Kenyans will continue paying the current electricity rates.
As reported by the Business Daily, there were fears of an uproar following the protests that were witnessed after the hike in fuel prices.
As reported by Business Daily, the Kenyattas and Ndegwas are set for a combined Ksh21.9 billion payout after agreeing to sell at least 66% of their NCBA shares to South Africa’s Nedbank Group.
The transaction is part of Nedbank’s Ksh109.6 billion bid to acquire a 66% stake in NCBA Group. The deal combines cash payments and Nedbank shares listed on the Johannesburg Stock Exchange.
The Kenyatta and Ndegwa families have committed their full holdings and could sell additional shares if other investors decline the offer.
If completed, NCBA will become a Nedbank subsidiary while retaining its brand, local leadership and Nairobi Securities Exchange listing.
The Bank of Uganda has introduced limits on over-the-counter cash withdrawals and halved interbank cheque thresholds, with the changes taking effect on January 1, 2027.
As reported by the New Vision, under the new rules, individuals will be limited to withdrawing Ksh1.7 million (UGX 50 million) daily and Ksh8.5 million (UGX 250 million) weekly, while businesses can withdraw up to Ksh17 million (UGX 500 million) per day and Ksh85 million (UGX 2.5 billion) per week.
Interbank cheque limits have also been cut by 50%, including for Kenyan currency transactions, where the threshold falls from Ksh300,000 to Ksh150,000.
The central bank said the measures are part of efforts to accelerate digital payments. RTGS transfers, electronic funds transfers and mobile money transactions will remain unaffected.
Uber plans to double the number of electric motorcycles on its platform in Kenya to more than 5,000 by the end of the year as it accelerates its transition to a zero-emissions mobility platform by 2040.
As reported by Bloomberg, according to Uber East Africa General Manager Imran Manji, more riders are switching from fuel-powered motorcycles to electric alternatives, driving rapid fleet growth.
The company has partnered with Nairobi-based Greenwheels to acquire and lease electric motorcycles to riders, typically over a two-year period.
Kenya's electric vehicle sector is expanding rapidly, with registered EVs rising from 1,378 in 2022 to 39,324 in 2025, largely driven by electric two-wheelers.
Global casual dining chain TGI Fridays is set to enter Kenya and Sub-Saharan Africa through a partnership with PrideInn Hotels, Resorts & Camps.
As reported by Citizen Digital, the agreement will see up to 10 TGI Fridays restaurants opened across Kenya, with the first outlet expected to launch at PrideInn Azure before the end of the year.
The deal, signed with Paradise Sea Investments Ltd, a PrideInn affiliate, marks a major expansion for the American restaurant brand, which operates nearly 400 outlets in about 40 countries.
Medical insurance claims in Kenya have nearly doubled over the past five years, rising from Ksh26.69 billion in 2021 to Ksh52.61 billion in 2025.
Industry data shows insurers have responded by raising premiums, which grew from Ksh51.42 billion to Ksh93.28 billion over the same period.
Medical insurance now accounts for 41% of all general insurance premiums. Meanwhile, healthcare costs are projected to rise by 13.5% this year. Read more
.png){kind=small}
Join 1.5M Kenyans using Money254 to find better loans, savings accounts, and money tips today.
Money 254 is a new platform focused on helping you make more out of the money you have. We've created a simple, fast and secure way to find and compare financial products that best match your needs. All of the information shown is from products available at established financial institutions that our team of experts has tirelessly collected.
.jpg)
.jpg)
