News and Analysis
July 22, 2026
Welcome to the Money News Roundup. In today's edition, we look at the introduction of Hustler Fund loan repayments using Safaricom Bonga Points and why teachers have rejected the latest salary increase.
Hustler Fund borrowers can now use Safaricom Bonga Points to repay their State-backed loans as the government steps up efforts to improve loan recoveries amid rising defaults.
As reported by the Business Daily, the Financial Inclusion Fund (FIF) said the new repayment option offers borrowers a more convenient way to clear outstanding balances.
According to Fund CEO Henry Tanui, the initiative recovered Ksh3 million within its first week.
The fund currently has a default rate of 15%, equivalent to Ksh12.5 billion. A borrower would need about 2,500 Bonga Points to repay a Ksh500 Hustler Fund loan, although Safaricom says the value of Bonga Points varies.
The repayment option comes as the Treasury pushes the fund towards self-sustainability after reducing direct government funding.
KUPPET has rejected the latest salary adjustments approved by the SRC, arguing they leave teachers worse off than other public servants.
As reported by Eastleigh Voice, the union wants the Collective Bargaining Agreement (CBA) with the Teachers Service Commission (TSC) reopened, saying the proposed pay rise of between Ksh900 and Ksh2,000 is inadequate.
KUPPET claims the salary gap between teachers and comparable civil servants has widened to over 60%.
The union also raised concerns over delays in accessing healthcare under the Social Health Authority (SHA) and warned of possible industrial action if salary disparities and medical cover challenges are not addressed.
All mobile phones, tablets, laptops and other low-powered communication devices sold in Kenya must now come with a minimum one-year warranty and a return policy under new rules issued by the Communications Authority of Kenya (CA).
As reported by the Business Daily, vendors must also provide after-sales support, including repairs, throughout the warranty period. Businesses that fail to comply risk fines of at least Ksh500,000 or 0.2% of their annual turnover.
The rules also require refurbished devices to be clearly labelled as refurbished. Meanwhile, online sellers must provide a physical address, email address and telephone number to enable customers to contact them for support.
In addition, vendors can source devices only from licensed importers and must issue official receipts showing the seller's name, the device model, serial number, and warranty period.
Housing PS Charles has said that only Ksh803.3 million out of the Ksh2.56 billion recorded as refunds were savings withdrawals by contributors.
He clarified that the other Ksh1.76 billion represented savings transferred into deposit accounts after buyers were allocated affordable housing units.
As reported by Nation, the explanation has raised questions over Ksh1.62 billion linked to the Park Road housing project, with the National Housing Corporation (NHC) saying the estate has never operated under the Boma Yangu platform.
The conflicting accounts have sparked concerns over how housing savings, deposits and refunds are classified and reported under the Affordable Housing Programme.
SBM Bank Kenya recorded a 171% increase in profit before tax during the first half of 2026, driven by higher lending, stronger customer deposits and improved asset quality.
As reported by Capital Business, the lender posted a pre-tax profit of Ksh548 million, up from Ksh202 million in the same period last year. Net interest income rose to Ksh2.2 billion, while non-funded income increased by 54% to Ksh1.39 billion.
Customer deposits grew 24% to Ksh94 billion, reflecting increased confidence in the bank.
Meanwhile, the bank's gross non-performing loan ratio improved significantly, falling to 17.3% from 32.4% a year earlier.
Kenya recorded a record 7,819 new vehicle sales in the first half of 2026, a 23% increase from 6,360 units sold during the same period last year, according to the Kenya Motor Industry Association (KMIA).
As reported by the Star, the growth was driven by stronger demand from the agriculture, construction, manufacturing, trade and transport sectors.
Trucks accounted for the highest sales at 3,521 units, followed by pickups (2,095) and buses (985).
KMIA attributed the growth to lower lending rates, stable exchange rates, lower fuel prices and increased infrastructure activity. Isuzu East Africa retained market leadership with a 51% market share.
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