News and Analysis
June 10, 2026
Hello and welcome to the Money News Roundup. Today, we explain the new powers the government wants KRA to have over Housing Levy collections and cover fresh US funding for Ebola preparedness in Kenya.
The State Department of Housing is pushing for amendments to the Finance Bill 2026 to grant powers to KRA to recover more than Ksh100 billion in unremitted Affordable Housing Levy deductions.
As reported by the Business Daily, the State Department for Housing has asked Parliament to amend the Tax Procedures Act to allow KRA to recover unpaid levy contributions as civil debts, similar to unpaid taxes.
Housing Fund Board Chairperson Jeremiah Simu told MPs that some employers have deducted the levy from workers but failed to remit the funds.
According to the Board, the fund loses about Ksh3 million every month due to non-remittance, while the Auditor-General has identified legal gaps that make enforcement difficult.
Officials said KRA currently collects the levy but lacks the power to audit, assess, investigate, or recover unpaid amounts under the Affordable Housing Act.
The Housing Department also opposed the imposition of VAT on affordable housing projects, arguing that the tax increases construction costs and ultimately raises house prices for buyers.
The plan comes after the State Department announced plans to securitise future Housing Levy deductions for a Ksh100 billion loan.
Kenyan consumers who lost money to digital fraud over the past year reported a median loss of Ksh108,132, the highest among African countries surveyed by TransUnion.
As reported by the Kenyan Wall Street, while only 2.3 per cent of transactions involving Kenyan consumers were flagged as suspected fraud in 2025, below the global average of 3.8 per cent, successful scams are becoming more costly.
Third-party seller scams on legitimate e-commerce platforms accounted for the largest share of losses, affecting nearly four in ten victims. Money mule scams, account takeovers, identity theft, phishing, and social engineering were also common.
Online gaming and betting platforms recorded the highest fraud rate at 15.6 per cent, followed by video gaming at 9.1 per cent.
The US has announced an additional Ksh2.5 billion ($20 million) to strengthen Ebola preparedness efforts in Kenya, Burundi, Rwanda, and South Sudan amid concerns over the spread of the disease in the region.
According to a statement by the US State Department, the funding will support emergency operations centres, disease surveillance, laboratory testing, border screening, infection prevention and control measures, and the procurement of critical medical supplies.
The announcement comes months after Kenya was at the centre of a public debate over plans to establish an Ebola facility in Laikipia, plans that were later halted by the High Court.
Earlier, the US announced that Kenya would receive Ksh1.75 billion for Ebola preparedness.
Electricity costs fell by Ksh0.27 per kilowatt-hour (kWh) in June, offering relief to households and businesses, Energy Cabinet Secretary Opiyo Wandayi has announced.
Speaking after meeting manufacturers, he also signalled a possible reduction in diesel prices during the next fuel review, a move expected to lower transport, agricultural, and manufacturing costs across the economy. Read more
The government spent more than Ksh206 billion through unplanned withdrawals in the first nine months of the 2025/26 financial year, according to the Controller of Budget.
As Citizen Digital, the spending, approved under Article 223 of the Constitution for unforeseen expenses, marked a 490 per cent increase compared to the same period last year. A large portion, Ksh144 billion, was used to repay public debt.
State House spent Ksh4.45 billion outside its approved budget, including Ksh2.5 billion withdrawn between January and February 2026. By March, its expenditure had reached Ksh12.07 billion, equivalent to 140 per cent of its annual allocation.
Kenya's public debt rose by 9 per cent to Ksh12.82 trillion as of March 31, 2026, up from Ksh11.8 trillion recorded in June 2025, according to a report by the Controller of Budget (CoB).
As reported by Capital Business, the debt stock now stands at 69.9 per cent of GDP, exceeding Parliament's recommended debt ceiling of 55 per cent by 14.9 percentage points.
Domestic debt recorded the biggest increase, rising 13 per cent to Ksh7.05 trillion, while external debt grew by 4 per cent to Ksh5.77 trillion. During the nine-month period, debt repayments consumed Ksh1.35 trillion.
E-mobility firm Spiro has appointed Anant Badjatya as its new Group Chief Executive Officer to lead the company's next phase of growth across mobility, energy, and technology.
As reported by the Kenyan Wall Street, Badjatya previously led Indofast Energy, an IndianOil and SUN Mobility joint venture, where he helped build one of India's largest battery-swapping networks with over 1,800 stations serving about 90,000 vehicles daily.
His new role will oversee battery swapping, leasing, logistics, energy, and vehicle manufacturing operations. The appointment comes shortly after Spiro secured Ksh27 billion in an equity funding round led by Impact Fund Denmark and Equitane.
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