News and Analysis
October 21, 2025
Hello and welcome to the Money News Roundup Newsletter, where we cover why fuel and electricity prices may increase in a new government proposal. We also cover plans to construct an expressway linking Kenya and Uganda.
Kenyans could soon face a new levy on fuel and electricity as the government moves to establish a Consolidated Energy Fund (CEF) to finance key energy projects and reduce reliance on loans.
According to Energy CS Opiyo Wandayi, the fund will draw contributions from energy sector players alongside Parliamentary allocations, government securities, recovered assets, and fines from the Energy and Petroleum Regulatory Authority (EPRA).
As reported by the Business Daily, this could also include the introduction of a new levy for fuel and electricity.
The proposed fund will finance the development of transmission lines, hydropower dams, renewable energy projects, and research initiatives. Parliament is expected to provide an initial Ksh500 million to operationalize the fund.
Currently, consumers already pay several energy-related levies, including the Roads Maintenance Levy (Ksh25 per litre of petrol and diesel), the Petroleum Development Levy (Kshh5.40 per litre), and the Rural Electrification Levy (5% of power consumption).
The new fund is part of reforms under the 2025–2029 Energy Sector Plan, which also proposes a Petroleum Consolidated Fund to handle decommissioning of petroleum infrastructure and development of common user facilities.
The East African Community (EAC) has announced that the construction of the Kenya-Uganda Expressway will soon begin after both nations approved the Kisumu–Busia/Kakira–Malaba Multinational Expressway as a viable investment.
Uganda will construct a new 60km Jinja–Busesa expressway and dual the Busesa–Malaba and Busitema–Busia roads under a Public Private Partnership (PPP). Kenya will upgrade the Kisumu- Busia bypass, Kimaeti–Lwakhakha road, and also rehabilitate the Busia and Malaba One-Stop Border Posts.
EAC Deputy Secretary General Andrea Ariik Malueth said the project aims to create a modern, efficient transport corridor connecting businesses and people across East Africa.
As reported by Kenyans.co.ke, the expressway forms part of the Northern Transport Corridor, designed to boost regional trade and infrastructure integration.
Kenyans trading or investing in cryptocurrencies may soon access insurance cover for hacking losses and employee theft, should proposals by the Insurance Regulatory Authority (IRA) sail through.
IRA has proposed draft regulations introducing virtual assets insurance as a new business class, marking Kenya’s first formal framework for digital asset protection.
As reported by the Business Daily, this move comes as the use of stablecoins in Kenya surged to Ksh426.4 billion in the year to June 2024, driven by cross-border traders, multinationals, and diaspora remittances.
The IRA aims to promote consumer protection and inclusive insurance as crypto adoption grows. The move aligns with global efforts to regulate digital assets and reflects the government’s broader push to integrate virtual assets into the financial system through the proposed Virtual Asset Service Providers Bill.
Deputy President Kithure Kindiki’s office has spent nearly half of its annual recurrent budget within the first quarter of the 2025/26 financial year.
Treasury data shows the office had used Ksh1.34 billion, or 44.9% of its Ksh2.97 billion allocation, by September 2025.
As reported by the Business Daily, the spending coincides with Kindiki’s nationwide economic empowerment programs in which have been ongoing across the 47 counties including counties including Meru, Bungoma, and Kisii.
The recurrent budget covers salaries, travel, and operational costs, though detailed expenditure data remains undisclosed.
The high absorption rate comes amid renewed government austerity efforts and scrutiny of ministries to align expenditure with quarterly limits to prevent fiscal shortfalls.
Equity Group Holdings more than doubled its staff training budget to Ksh846.6 million in 2024 from Ksh317 million, as it intensified efforts to strengthen compliance, ethics, and risk management.
The bank trained 12,081 employees, averaging Ksh70,076 per person, through mandatory courses on anti-bribery, fraud awareness, and data protection.
The surge followed high-profile fraud cases that prompted an ethics audit, resulting in mass dismissals. Equity emphasized reskilling and upskilling existing staff over external hiring, with employees receiving an average of 46 training hours. Read more.
Kenya and Senegal have signed a deal that will waive visa requirements for Kenyans seeking to travel to the West African country. The visa waiver will apply to those with normal and diplomatic passports.
However, the waiver will only apply for the first 90 days after travel
The deal was signed at State House, Nairobi, on Tuesday, October 21, during President Bassirou Diomaye Faye's official visit to Kenya.
As reported by Citizen Digital, the waiver is aimed at boosting trade and tourism between the two countries.
Currently, Kenya has a visa-free policy for foreigners. Travelers from most countries are only required to acquire an electronic travel authorization (eta), which is charged at USD30 (Ksh3,874).
WPP Scangroup Plc has appointed Akua Brayie Owusu-Nartey as the Group Chief Executive Officer, CEO of Ogilvy Africa, and Executive Director, effective November 17, 2025.
In a statement, the company noted that Akua brings over 18 years of experience in integrated communications, brand transformation, and business growth across Africa, having led teams in Ghana, Nigeria, Kenya, Tanzania, and Zambia.
She previously served as Chief Client Officer and Head of Connected Culture at Ogilvy Africa and Acting Managing Director at Scanad Kenya. The Board expressed confidence in her leadership and extensive industry expertise.
The changes come after Patricia Ithau left the company. As a result, Miriam Kaggwa was appointed as the interim CEO.
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