News and Analysis
September 3, 2026
Hello and welcome to the Money News Roundup Newsletter. Today, we examine the potential economic cost of the government's shutdown order against Tata Chemicals and the uncertainty facing Kenya's soda ash export industry. We also bring you the latest update on university and TVET funding applications.
Kenya's Ksh7.36 billion soda ash export industry faces uncertainty after President William Ruto called for Tata Chemicals Magadi to leave the country and be replaced by a new investor.
As reported by the Business Daily, the company, whose operations were suspended in July over compliance concerns, is currently battling the decision in court.
Kenya exported 254,779 tonnes of soda ash worth Ksh7.36 billion in 2025, making the mineral one of the country's key export earners.
The government's position is that Kenya should stop exporting raw minerals and instead develop local industries such as glass and chemical manufacturing.
The President noted that the government would bring in another investor to take up operations of the industry in Kajiado. However, the details of the new investor have not been revealed.
The exact date when the investor will take over operations is also not known, a move that could further delay soda ash exports.
Aliko Dangote has announced that the planned Ksh2 trillion refinery in Lamu will be officially launched on September 30.
As reported by Reuters, the project, which will be developed in partnership with East African governments, is expected to take about three years to complete and will supply refined petroleum products to Kenya and neighbouring countries, helping reduce the region's reliance on imported fuels.
The refinery would be Dangote Group's largest refining investment outside Nigeria. East African countries have been offered a combined 30% stake in the project.
Kenya plans to acquire a stake worth Ksh64.74 billion in the refinery. Ethiopia and Rwanda have also expressed interest in taking part in the regional investment.
The Ministry of Education has extended the application deadline for university and TVET funding to September 21, 2026, giving eligible students more time to apply.
As reported by Citizen Digital, the previous application window closed on August 31 after receiving 789,422 applications, but the ministry said some students were unable to apply before the deadline.
This came after the government announced that the new model based on student loans would take effect this month.
In response to the confusion, CS Julius Ogamba maintained that first-time applicants joining this September will be assessed under the current student-centred funding model.
According to the Ministry, the proposed Universal Access and Funding Framework will only take effect after Parliament passes the Tertiary Education Placement and Funding Bill, 2026.
The government has warned consumers against buying unpasteurised milk from unregulated traders as a worsening milk shortage leaves some supermarket shelves sparsely stocked.
As reported by the Star, Kenya Dairy Board Chairman Genesio Mugo said some hawkers were adulterating milk with water and chemicals, putting consumers at risk.
Officials attribute the shortage to drought, which has reduced pasture and animal feed, causing milk production to fall by 3.7% between June and July.
To address the crisis, the government plans to allow duty-free imports of 500,000 tonnes of yellow maize for animal feed and improve feed distribution to farmers. Dairy processors say the shortage is temporary and expect supplies to improve within two to three weeks after the onset of rains.
Kenya’s wealthy families are increasingly adopting structured succession plans to protect assets and ensure smooth wealth transfer across generations, an NCBA Group research shows.
As reported by the Star, the shift comes as more than 13,000 succession cases remain pending in courts, with an estimated Ksh500 billion worth of assets tied up in inheritance disputes.
According to the research, succession planning is moving beyond wills to include trusts, governance structures, investment strategies, and leadership preparation for heirs. Kenya has about 6,800 dollar millionaires, reflecting Africa’s growing private wealth.
NCBA warns that delayed planning, founder reluctance, poor documentation, and unprepared heirs threaten wealth preservation.
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