News and Analysis
December 17, 2025
Hello and welcome to the Money News Roundup Newsletter, where we are covering how investors lost money through Optcoin. We also cover the school revision dates for KJSEA candidates who received their results last week.
Thousands of Kenyan investors have lost millions of shillings after a cryptocurrency and forex trading platform, Optcoin, suddenly collapsed, leaving users unable to access their funds.
As reported by the Business Daily, over the weekend, investors discovered that the platform had gone offline, with withdrawals blocked and no official communication issued.
Users were later redirected to a new platform demanding a registration fee of at least Ksh24,000, allegedly to recover their locked investments, further fueling fears of a scam.
Many victims say they invested large sums after being introduced to Optcoin through trusted networks, including church leaders. Some reported depositing over Ksh200,000 just weeks before the collapse, attracted by promises of high returns, smooth withdrawals, and referral commissions.
Instead, withdrawals were repeatedly postponed before the platform vanished entirely.
The losses mirror a familiar pattern seen in previous crypto schemes, where early confidence is built through referrals and promised returns of up to 30% in short periods. As new investor funds dry up, platforms freeze withdrawals and disappear, leaving users stranded.
Optcoin’s collapse follows a similar incident involving CBEX, another crypto platform that wiped out millions of shillings earlier this year.
In both cases, investors were drawn in by aggressive marketing, claims of advanced trading systems, and assurances of legitimacy, despite the platforms being unregulated.
Also read: Investors Lose Life Savings In Crypto Markets Crash
Diageo is set to earn a Ksh47.2 billion profit from selling the extra 14.97% stake it bought in East African Breweries Limited (EABL) in 2023 at the cost of Ksh22.7 billion, after agreeing to sell its Kenyan assets to Japan’s Asahi Holdings.
Diageo will offload its entire 65% stake in EABL to Asahi for Ksh303.5 billion (USD2.354 billion), valuing EABL shares at Ksh590.51 each.
The deal values the additional 14.97% stake at Ksh69.9 billion, nearly three times the Ksh22.7 billion Diageo paid for it less than three years ago.
In addition to the EABL sale, the British firm is set to sell its 53.68% stake in UDV Kenya (responsible for brands like Kenya Cane) for Ksh83.29 billion. As a result, Diageo will pocket Ksh386.8 billion, making it Kenya’s largest capital markets transaction.
The exit aligns with Diageo’s strategy to cut debt and divest non-core assets amid slowing global alcohol demand.
The Ministry of Education has announced that Grade 10 placements for learners who sat the Kenya Junior Secondary Education Assessment (KJSEA) will be released on Friday, December 19, 2025.
As reported by Citizen Digital, Basic Education Principal Secretary Julius Bitok said students can check their placements by sending their assessment number to 2263.
Learners who wish to revise their school or pathway choices will be allowed to do so starting Tuesday, December 23.
Bitok confirmed that senior schools and teachers are ready to receive the first competency-based education cohort in January 2026.
While the ministry has defended the new selection model as fair and transparent, education stakeholders have raised concerns over teacher shortages and infrastructure gaps.
As reported by Eastleigh Voice, the national government spent nearly Ksh5 billion on travel in the first three months of the 2025/26 financial year, despite pledges to curb public spending.
A report by the Controller of Budget shows domestic travel cost Ksh4.09 billion, while foreign travel accounted for Ksh877.21 million.
The expenditure falls under the “Use of Goods and Services” category, which also includes insurance, hospitality, rent, and training. Insurance emerged as the biggest expense at Ksh17.41 billion, followed by specialised supplies at Ksh3.62 billion and hospitality at Ksh2.19 billion.
The spending comes despite President William Ruto’s commitment to cut travel budgets by 50 per cent, raising concerns that recurrent costs continue to undermine fiscal discipline and development priorities.
As reported by Nation, 20 county governments spent nothing on development programmes in the first quarter of the 2025/26 financial year, according to the Controller of Budget (CoB).
The affected counties are Kericho, Tana River, Turkana, Bomet, Siaya, Trans Nzoia, Baringo, Kilifi, Kwale, Kajiado, Kisumu, Mombasa, Vihiga, Busia, West Pokot, Bungoma, Uasin Gishu, Wajir, Laikipia, and Kisii.
The County Governments Budget Implementation Review Report shows that while development spending stalled, counties prioritised recurrent expenditure.
Collectively, the remaining 27 counties spent only Ksh3.69 billion on development—just 2% of the annual development budget of Ksh218.99 billion.
In contrast, counties spent over Ksh51 billion on recurrent costs, including Ksh43.7 billion on personnel emoluments.
Isiolo, Kirinyaga, and Murang’a recorded the highest development absorption, though still modest, with Isiolo spending Ksh191 million (15%).
The number of Kenyans awarded US student (F-1) visas fell by 13.8% in the eight months to August amid tighter immigration enforcement.
Data from the International Trade Administration shows 3,897 Kenyans received student visas, down from 4,519 in the same period last year, marking the first decline since the Covid-19 pandemic.
As reported in the Business Daily, the drop follows stricter measures under the Trump administration, including tougher background checks, financial scrutiny, and social media screening, which have led to delays and denials.
New international student enrolment in the US also fell by 17% this September to November.
Foreign students account for about 6% of total US enrolment and contributed Ksh7 trillion (USD55 billion) to the economy in 2024. Despite the decline, Kenya ranked fourth in Africa for F-1 visas issued.
As reported by Business Daily, Sidian Bank has been upgraded to a mid-sized (Tier 2) lender after winning large corporate and government-linked accounts.
In a letter, CBK confirmed the reclassification took effect at the end of September 2025 after the bank met required thresholds, including attaining at least a 1% market share.
Sidian’s market share rose from 0.5% in 2023 to 0.7% by December 2024. The upgrade follows new investors injecting capital, with the bank currently raising Ksh3 billion through a rights issue, bringing total new funding to Ksh6 billion in 18 months.
Customer deposits jumped 70.8% to Ksh78.1 billion by September 2025, while assets grew to Ksh94.8 billion. Profit after tax surged to Ksh1.4 billion.
Airtel Africa has signed a partnership with SpaceX to roll out Starlink’s satellite direct-to-cell mobile service across all its 14 African markets from 2026.
As reported by the Kenyan Wall Street, the service will allow Airtel customers with compatible smartphones to connect directly to Starlink’s low-Earth-orbit satellites when they move outside normal mobile network coverage.
Initial deployment will support text messaging and limited data services for selected applications, with expanded data capabilities planned as newer satellites are launched.
The agreement covers markets including Kenya, Nigeria, Uganda, Tanzania, Rwanda, Zambia, Malawi, Niger, Chad, Gabon, Republic of the Congo, Madagascar, Democratic Republic of Congo, and Seychelles.
Airtel Africa, which serves over 170 million customers, said the technology will complement existing mobile networks by extending connectivity to rural, remote, and hard-to-reach areas where building towers is uneconomical.
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