Govt's Ksh603M to Help More Kenyans Get Mortgages for Affordable Houses

Hello and welcome to the Money News Roundup Newsletter. Today, we cover the Kenya Mortgage Guarantee Trust and its Ksh603 million boost, free SHA services, businessmen awarded Ksh200 billion medical kit contracts, and the return of maths as a compulsory subject.

Ksh603 Million KMGT Boost for Underserved Kenyans

Treasury Cabinet Secretary John Mbadi has revealed that the government has invested Ksh603.1 million (€4 million) to improve underserved Kenyans' access to housing financing.

Delivering the keynote address at the 4th Kenya Affordable Housing Conference (KAHC) in Kisumu on Friday, Mbadi noted that the investment is part of the state’s interventions to spur growth in the affordable housing sector. This complements the annual tax relief of up to Ksh360,000 for incremental home construction loans.

"The journey toward sustainable and inclusive housing in Kenya demands bold vision and pragmatic financing. We must pair public investment with private innovation and deploy targeted guarantees to bridge lending gaps," Mbadi stated.

He further explained that KMGT aims to de-risk lending to people in the informal sectors and those earning irregular incomes.

“By providing partial risk cover, KMGT will empower lenders to extend credit to those typically excluded from formal finance, such as informal sector workers and small business owners,” he added.

The financing is a boost to the trust managed by the Kenya Mortgage Refinance Company (KMRC), which has so far mobilised Ksh38 billion in concessional funding from the World Bank and the African Development Bank (AfDB).

KMRC has refinanced over 4,600 home loans valued at Ksh21.7 billion, with 48.3 per cent going to women. [Read more on KBC.]

REVEALED: Details of Individuals Awarded in Ksh200bn Plan to Upgrade County Hospitals

President William Ruto has announced a Ksh200 billion initiative to modernise medical equipment in county referral hospitals, awarding contracts to both wealthy local tycoons and foreign investors. According to Business Daily, the National Equipment Support Programme (NESP), launched last week, will equip referral hospitals with advanced machines—from CT scanners to dialysis units—while shifting payment responsibility from county governments to the Social Health Authority (SHA).

Seven companies will supply and maintain the equipment for seven years, including Sunview Medipro International, Caring International, Megascope Healthcare, and Angelica Medical Supplies. Others on the list are Melco Kenya, Obaidulla Contracting, and Provered Technologies.

Govt Rolls Out Free Outpatient Services in Public Hospitals

Health Cabinet Secretary Aden Duale has announced that all outpatient services in public health facilities from Level 2 to Level 4 are now free, following a directive by President William Ruto to advance Universal Health Coverage (UHC).

As reported by Kenyans.co.ke, the package—available to all Kenyans registered with the Social Health Authority (SHA)—covers consultations, diagnosis, treatment for common ailments, lab tests, basic radiological exams like X-rays and ultrasounds, prescription drugs, mental health services, health education, and the management of chronic and infectious diseases. It also includes maternal and child health services, immunisations, and minor outpatient procedures.

Duale urged the public to report any facilities that impose charges for these services by calling SHA’s 147 hotline. His announcement comes days after 40 hospitals were suspended from the SHA programme over fraudulent claims, with the government seeking to recover any funds paid out during the investigations.

Govt Declares Maths Compulsory for Senior CBC, Explains Different Clusters

The Ministry of Education has reinstated mathematics as a compulsory subject in the senior school curriculum under the revised Competency-Based Curriculum (CBC) framework, set to begin in January 2026.

In the new system, STEM students will take Core Mathematics, while Arts & Sports Science and Social Sciences students will take Essential Mathematics. Non-STEM learners may take Core Mathematics if their junior school results permit, according to People Daily.

Each student will pick three electives, with at least two from their main pathway. If a career goal requires mixing subjects from different pathways, flexibility will be allowed.

The new framework also introduces three non-examinable compulsory subjects—Physical Education, ICT Skills, and Pastoral/Religious Instruction—and standardizes the timetable to 40 lessons a week. The ministry says the reforms aim to produce adaptable, career-ready graduates aligned with higher education and job market needs.

Fewer Kenyans Holding Over Ksh500k in Bank Accounts – CBK

The share of bank accounts with balances above Ksh500,000 fell to 0.65% last year, down from 0.71% in 2023, highlighting cash flow challenges in a slowing economy and deepening income inequality. Central Bank of Kenya (CBK) data shows there were 739,803 high-value depositors in 2024, compared to 742,556 the previous year.

According to Business Daily, the data underscores the growing wealth gap in Kenya, where a small segment of the population controls most of the country’s financial resources, leaving the majority with limited savings and access to capital.

Police Launch Crackdown as Road Accidents Claim 60 Lives in Two Weeks

The National Police Service (NPS) has announced intensified nationwide road compliance checks after nearly 60 fatalities were recorded in road accidents over the past two weeks. NPS spokesperson Muchiri Nyaga said the operation will involve speed monitoring of PSVs and trucks, enforcement against overloading, cracking down on unlicensed routes, anti-drunk-driving operations, and removing unlawful vehicle lights. Police will also verify NTSA-issued licences, impound unroadworthy vehicles, and assess PSV Sacco compliance to boost safety standards.

According to The Standard, NPS cited speeding, dangerous overtaking, drunk driving, overloading, driver fatigue, and careless pedestrian crossing as key causes of crashes. The service urged passengers to report reckless driving via toll-free lines and WhatsApp, stressing that most accidents are preventable if all stakeholders follow traffic rules. NPS reaffirmed its commitment to comprehensive road safety and called on Kenyans to work together to make roads safer.

CBK Fines 11 Banks for Breaching Lending, Governance and Capital Rules

The Central Bank of Kenya (CBK) has penalised 11 commercial banks for violating rules on lending, corporate governance, capital adequacy, investment, and other regulatory requirements. According to Business Daily, breaches included exceeding the single obligor limit of 25% of core capital, prohibited business, failure to meet the minimum core capital of Sh1 billion, and non-compliance with capital adequacy and liquidity management rules. Nine banks were cited for breaching the single obligor limit, while five failed to meet minimum statutory capital requirements, up from four in 2023.

CBK also flagged cases of excessive individual ownership in banks, insider lending, and foreign exchange exposure. The regulator imposed fines totalling Sh191 million on commercial banks and forex bureaus in the year ending June 2024, with penalties ranging from Sh5 million to Sh20 million depending on severity. CBK said the actions were aimed at strengthening compliance and corporate governance ahead of upcoming higher capital requirements effective December 2025.