Govt Splits Nairobi-Mau Summit Toll Road Deal to 2 Firms Last Minute  

Hello and welcome to the Money News Roundup Newsletter, where we are covering the government’s last minute call to award the Nairobi-Mau Summit Road project to two companies.  We also cover why Kenyans have opted to voluntarily save with Hustler Fund without taking the loans.

Govt Splits Nairobi-Mau Summit Contract 

The government has made a last-minute call to split the Nairobi–Nakuru–Mau Summit toll road deal between two companies to avoid prolonged approval by the Chinese government. 

The Kenya National Highways Authority (KeNHA) revealed that instead of awarding the entire 236km project to China Road and Bridge Corporation (CRBC) and NSSF as initially planned, it has reinstated the runner-up bidder, Shandong Hi-Speed Road and Bridge International Engineering (SDRBI), to handle part of the project.

As reported by the Business Daily, the change followed CRBC’s admission that its full investment would require a lengthy approval process from Beijing, which reviews overseas projects above Ksh129.6 billion ($1 billion) involving state-owned firms—potentially delaying the project by more than a year. 

To meet the government's tight deadline, KeNHA has split work between the two firms. These ensures that each company invests less than Ksh129 billon hence avoiding the lengthy Chinese approval process.

CRBC will construct 81 kilometres between Nairobi and Gilgil via Naivasha and another 58km through Maai Mahiu, while SDRBI will build the 94km stretch from Gilgil to Mau Summit. 

Both firms must harmonise toll rates despite initially proposing different charges, with Parliament expected to approve a unified framework.

The CRBC–NSSF consortium originally won due to lower toll proposals and readiness to absorb traffic-volume risks—unlike the earlier French-led consortium whose deal was cancelled for high costs. 

Also Read: How Much You Will Pay to Use the Dual Nairobi–Nakuru Toll Road

The road, planned as a dual four-lane tollway, is key to easing traffic along the busy corridor and is a priority for completion before the 2027 elections. The road is set to be launched for construction on Friday, November 28.

KRA Sets Deadline for Fuel Stations to Adopt eTIMS System

Petrol stations that have not adopted the eTIMS invoicing system must comply by December 31, 2025, or face enforcement, the Kenya Revenue Authority (KRA) has warned. 

The system, launched in 2024 and implemented earlier this year, links every fuel sale to KRA in real time, ensuring accurate tax collection and streamlined reporting.

eTIMS integrates with forecourt controllers and point-of-sale systems, automatically recording every litre sold and every shilling transacted. Drivers receive electronic invoices, which are vital for fleet operators and companies claiming input VAT.

While major players like Total, Shell, and Rubis have adopted the system, smaller independent stations face cost challenges. 

As reported in the Eastleigh Voice, KRA has emphasized support for all retailers during the transition but warns non-compliant outlets will face legal action after the deadline.

The announcement comes a few days after KRA asked Kenyans to safely keep their eTIMS receipts and Withholding tax certificates as a new tax filling system kicks in from January 1, 2026. The new verification system will apply during filing of taxes paid between January1, 2025 and December 31st 2025.

Kenyans Voluntarily Saving With Hustler Fund

Kenyans have voluntarily saved Ksh626.2 million in the Hustler Fund. According to the State Department for MSME Development, voluntary savings now account for 13.8% of the fund’s Ksh4.5 billion savings pool.

Between July and September alone, Kenyans who did not take loans voluntarily saved Ksh84.6 million, driven by a competitive interest rate which stands at 7% per annum.

"As we finalize those processes, we negotiated with the service providers, the banks that are the custodians of the savings, that they offer returns at the rate of the T-bill minus 3," MSME PS Susan Mang'eni stated.

Meanwhile, Kenyans who have borrowed loans have withdrawn Ksh980 million from the 30% accessible portion of mandatory loan deductions. 

As reported by the Business Daily, the government says this flexibility has boosted confidence as it prepares to set up the Kenya National Saving Trust to manage Hustler Fund savings in the future.

Affordable Housing is Our Biggest Priority- Treasury

Affordable housing has emerged as Kenya’s biggest development spending priority, overtaking roads for the first time.

Treasury data shows the State Department for Housing and Urban Development received Ksh30.01 billion in the three months to September 2025, nearly triple the Ksh10.09 billion allocated to roads. 

Housing accounted for 23.4% of total development expenditure, surpassing its quarterly target, while roads recorded a sharp decline from previous years. 

The surge reflects President William Ruto’s emphasis on the Affordable Housing Programme despite scrutiny over slow unit delivery.

Also Read: Why Bank Wants to Auction Ngara Affordable Houses Already Sold to Kenyans

In the year to June 2025, 1,795 units were completed even as the housing levy raised Ksh73.2 billion, exceeding targets. The government says 230,000 homes and 178,000 student beds are at various stages of development. Read more.

StanChart Reports Drop in Profit After Ksh7B Pension Payout

Standard Chartered Bank of Kenya posted a 38.2% drop in net profit to Ksh9.7 billion for the nine months to September, largely due to a Ksh7.2 billion pension settlement awarded to former employees by the Supreme Court. 

As in the Kenyan Wallstreet, This was a drop from Ksh15.8 billion profit which was reported a similar period last year.

The bank booked a one-off Ksh2.7 billion past-service cost in staff expenses, pushing total staff costs up 32% to Ksh9.1 billion.

StanChart had already set aside Ksh2 billion over the 16-year case and has begun paying an additional Ksh2.5 billion, with Ksh1.9 billion paid to 499 former staff.

Also Read: The Most Profitable Stocks at the NSE: January 2024 to Date

Peugeot Dealer Urysia to Sell Citroen and Jeep in Expansion Deal

Motor vehicle dealer Urysia, known for selling Peugeot since 2013, has expanded its portfolio by adding French brand Citroen and reintroducing American brand Jeep, previously sold by DT Dobie. 

This move makes Urysia a multi-brand dealer, aligning with competitors like CFAO Mobility, Isuzu East Africa, and Inchcape.

The expansion follows a broader partnership with Stellantis, the automaker behind Peugeot, Citroen and Jeep. 

Urysia will now offer premium SUVs (Jeep), efficient urban cars (Citroen), and versatile sedans (Peugeot), alongside full after-sales support. 

The company says the wider lineup positions it to meet Kenya’s evolving mobility needs. Jeep sales had faded after DT Dobie stopped retailing the brand, with unit sales peaking at 100 in 2014 before declining. Read more.

Family Bank Posts Ksh3.5B Profit, Eyes NSE Listing in 2026

Family Bank recorded a 56% rise in profit after tax to Ksh3.5 billion for the nine months ended September 2025, driven by higher interest income, balance sheet growth and cost management. 

As reported by Capital FM, The bank’s loan book grew 10.1% to Ksh103.7 billion, while total interest income rose 21.2% to Ksh10.9 billion, supported by lending and increased investment in government securities. 

Total assets expanded to Ksh202.5 billion, and customer deposits climbed 15.3% to Ksh146.8 billion.

Non-funded income increased 14.4% on stronger transaction volumes and digital channels. Operating expenses rose by 33% due to higher staff costs and loan-loss provisions. Core capital strengthened to Ksh19.6 billion.

CBK Warns Rising Ksh11.8 Trillion Debt Is Straining Kenya’s Ability to Repay

Central Bank of Kenya Governor Kamau Thugge has warned that mounting public debt and liquidity pressures are making it harder for Kenya to meet its debt obligations. 

Appearing before Parliament, Dr Thugge said public debt has risen to Ksh11.8 trillion, about 69 percent of GDP, growing faster than the economy and putting the country at high risk of debt distress. 

As reported by the Nation, Credit rating agencies S&P, Fitch and Moody’s have also questioned Kenya’s repayment capacity.

Dr Thugge attributed the growth to rising domestic and external borrowing, with domestic debt at Ksh6.33 trillion and external debt at Ksh5.5 trillion. 

Also Read: Audit Finds Ksh300 Billion Raised Through Govt Bonds Cannot be Traced

He called for fiscal consolidation, stronger coordination with the National Treasury, increased concessional financing and broader use of public-private partnerships to reduce refinancing and liquidity risks.