News and Analysis
July 3, 2026
Welcome to the Money News Roundup. Today, we unpack questions surrounding the Kenya Ports Authority's expenditure of Ksh5.96 billion per kilometre on a road project. We also look at Moi University's planned mass layoffs.
The Kenya Ports Authority is spending Ksh8.3 billion to widen a 1.4-kilometre section of Port Road in Mombasa, making it one of Kenya's costliest road projects at about Ksh5.96 billion per kilometre.
As reported by Nation, the contract, awarded in August 2024 to a joint venture between Stecol Corporation and Miliki Development Company, covers the stretch between the Gantry Workshop and Gates 18/20.
KPA says the road will provide an express route linking the Kilindini side of the port to the Second Container Terminal, easing traffic at Gate 18 and the nearby railway crossing.
The cost far exceeds that of other recent road projects, including the Dongo Kundu Bypass (about Ksh1.8 billion per kilometre), Kwa Jomvu–Mariakani Road (Ksh342 million per kilometre) and the ongoing Rironi–Mau Summit Road (about Ksh807 million per kilometre).
Contract documents show nearly Ksh1.9 billion has been allocated to preliminary items, contingencies and variations, including engineers' offices, vehicles, accommodation and other project support costs.
KCB Investment Bank and SBG Securities are estimated to have earned about Ksh2 billion each after facilitating the government's Ksh204.3 billion sale of a 15% stake in Safaricom to Vodacom Group.
As reported by the Business Daily, the transaction, executed as a block trade on the Nairobi Securities Exchange (NSE), involved 6.009 billion Safaricom shares sold at Ksh34 each, making it the largest single deal ever completed on the bourse.
KCB Bank acted for the National Treasury, while SBG Securities represented Vodacom. Industry sources estimate each broker negotiated a 1% commission from its client.
The deal also generated about Ksh1.47 billion in statutory fees for market agencies, including the Capital Markets Authority, the Central Depository & Settlement Corporation and the NSE through transaction levies and guarantee fund contributions.
Patients seeking specialised treatment at Kenyatta National Hospital are now paying significantly more after the referral hospital revised charges for several medical procedures.
As reported by Nation, the charges for an endoscopy increased from Ksh6,500 to Ksh20,000 (208%). Patients who require a biopsy now pay Ksh22,500 in total after the additional Ksh2,500 biopsy fee.
The cost of an ultrasound scan has also gone up from Ksh1,800 to Ksh4,800 (167%), while outpatient consultation fees increased from Ksh1,150 to Ksh1,550.
The cost of a colonoscopy rose from Ksh9,800 to Ksh25,000 (155%), with patients requiring a biopsy now paying an additional Ksh2,500, bringing the total bill to Ksh27,500.
The fee review has also exposed gaps in Social Health Authority (SHA) coverage, with doctors saying many specialised treatments, including colonoscopies and endoscopies, are either not fully covered or are only reimbursed under limited benefit packages, forcing patients to pay out of pocket.
Moi University plans to reduce its workforce as part of a restructuring programme aimed at addressing a prolonged financial crisis.
As reported by Citizen Digital, acting Vice Chancellor Prof. Kiplagat Kotut told the National Assembly's Education Committee that the university is conducting a workload analysis to identify employees for possible layoffs, saying some staff have no teaching responsibilities.
The institution reported a deficit of Ksh8.8 billion, debts exceeding Ksh8 billion and pending bills of more than Ksh10 billion. Its chief internal auditor admitted the university is technically insolvent.
Management said staff numbers have already fallen from more than 2,000 to 1,763, while casual workers have been reduced by half. The latest plan follows a court order that halted a previous attempt to lay off about 900 employees.
A new Bill before Parliament seeks to require internet service providers (ISPs) to charge customers based on the amount of data they consume instead of fixed-rate packages.
The Kenya Information and Communications (Amendment) Bill, 2025, sponsored by Aldai MP Marianne Kitany, would require ISPs to install metered billing systems that monitor internet usage and generate invoices based on actual consumption.
The Bill says the changes are aimed at protecting consumers from unfair billing practices and safeguarding their economic interests.
If passed, it could significantly change Kenya's internet pricing model by replacing fixed or unlimited packages with usage-based billing. Read more
The Kenyan government has repatriated 151 citizens from South Africa following escalating anti-migrant unrest.
As reported by Capital Business, Prime CS Musalia Mudavadi said 240 Kenyans seeking assistance have registered with the Kenya High Commission in Pretoria.
Following talks with South Africa's Minister for International Relations and Cooperation, Ronald Lamola, Mudavadi urged authorities to continue supporting evacuations while ensuring the safety of Kenyans who remain in the country. An estimated 27,000 Kenyans live and work in South Africa.
Kenyans living abroad sent home Ksh3.77 billion less in the first five months of 2026, marking the first decline in diaspora remittances since 2023.
As reported by the Business Daily, CBK data shows inflows fell 1.39% to about Ksh267.7 billion ($2.066 billion) between January and May, down from Ksh270 billion ($2.095 billion) a year earlier.
The decline was driven mainly by lower remittances from the United States, Kenya's largest source market, where inflows dropped 8.4% to Ksh105 billion ($813.6 million). Transfers from Saudi Arabia also fell 24.8%.
The CBK linked the slowdown to global economic pressures, including inflation and the conflict in the Middle East, which have squeezed household incomes.
.png){kind=small}
Join 1.5M Kenyans using Money254 to find better loans, savings accounts, and money tips today.
Money 254 is a new platform focused on helping you make more out of the money you have. We've created a simple, fast and secure way to find and compare financial products that best match your needs. All of the information shown is from products available at established financial institutions that our team of experts has tirelessly collected.
.png)
