News and Analysis
March 9, 2026
Hello and welcome to the Money News Roundup Newsletter, where we cover KRA's plan to have its staff wear body cameras in a new plan to tame bribery and tax evasion. We also cover a new audit that has exposed how hospitals have received Ksh50 billion in fictitious claims to SHA.
KRA officials will begin wearing body cameras starting as part of a new anti-corruption initiative aimed at curbing bribery and collusion among staff.
The body-worn cameras will primarily be used by officers in the Customs and Border Control Department.
As reported by the Business Daily, the first rollout involves 350 cameras deployed at Jomo Kenyatta International Airport (JKIA), making KRA one of the few tax administrations globally to adopt the technology.
KRA says the cameras will record real-time interactions between officers and taxpayers, helping deter corruption, reduce confrontations, and strengthen tax collection.
Customs officers handle several key taxes and levies, including import duty, the 16 per cent value-added tax (VAT) on imports, excise duty, the Import Declaration Fee (IDF), and the Railway Development Levy.
The move follows longstanding concerns about revenue leakages caused by under-declared imports and alleged collusion between customs officers and tax evaders.
Some officers have also been accused of accumulating wealth, including luxury vehicles and real estate, that appears inconsistent with their salaries.
Between July and September 2024, 44 officers were dismissed for graft-related offences, while another 19 were sacked in the quarter to December. Lifestyle audits have also led to the recovery of Ksh549 million in suspected illicit wealth.
The cameras feature GPS tracking, LTE connectivity for live streaming, and secure data storage. Footage will be monitored through a newly established Central Command Centre.
Auditor-General Nancy Gathungu has flagged major irregularities in claims paid by the Social Health Insurance Fund (SHIF), exposing anomalies that have left nearly Ksh50 billion unaccounted for.
According to the audit for the year ending June 2025, some hospitals billed SHIF for procedures that appear medically impossible. In some cases, doctors reportedly conducted open-heart surgery on the same patient four times in a single day, with the fund paying Ksh445.4 million for such repeat claims.
Other records showed a single mother allegedly delivering up to 10 babies on different dates within one year. These claims were made 6,392 times and cost SHIF approximately Ksh148.4 million.
As reported by Nation, the audit also revealed that SHIF paid Ksh26.8 billion, about 29 per cent of total payments, to health facilities without supporting documentation.
Additional anomalies included Ksh7.3 billion paid for unauthorised services, Ksh1.5 billion paid to uncontracted facilities, and Ksh4.78 billion processed using non-gazetted service codes, raising concerns about possible fraud and weak oversight within the system.
Insurers are considering raising premiums on flood-related risks following a new wave of floods across parts of Kenya, nearly two years after paying out more than Ksh5 billion in claims from similar events.
As reported by the Business Daily, recent heavy rains have destroyed homes, vehicles and businesses while causing deaths, injuries and displacement, prompting insurers to brace for a surge in claims.
Firms such as APA Apollo Group, and Sanlam Allianz General Insurance Kenya say they are reviewing flood exposure and may increase premiums or adjust coverage for properties in high-risk areas.
Insurers warn that the growing frequency and severity of floods are straining risk models and could force a shift toward risk-based pricing, stricter deductibles and stronger mitigation requirements for properties located in flood-prone zones.
Also Read: List of 37 Traffic Instant Fines as NTSA Installs Smart Cameras on Roads
As reported by Eastleigh Voice, the Motorists Association of Kenya (MAK) has demanded urgent clarification from the NTSA over its newly launched Instant Fines Traffic Management System.
In a letter, MAK raised concerns about unclear procedures, accountability gaps, and limited public consultation. The lobby questioned how motorists can challenge fines, the calibration and verification of speed cameras, and safeguards to ensure due process.
MAK also sought clarity on financial accountability, including the designated officer for collected fines and which accounts will receive the funds. The association asked whether public participation was conducted and how the Notice to Attend Court (NTAC) mechanism would function under the automated system.
The call comes after NTSA launched the platform, which sends traffic violation notifications via SMS, aiming to improve efficiency, transparency, and accountability.
The government plans to use Ksh15-20 billion from the initial public offering (IPO) of Kenya Pipeline Company shares to expand Jomo Kenyatta International Airport (JKIA), President William Ruto announced on Monday.
As reported by Reuters, the government previously raised Ksh106.3 billion by selling a 65% stake in Kenya Pipeline Company, with proceeds earmarked for infrastructure projects including highways, railways, and ports.
President Ruto said JKIA is operating beyond capacity and requires modernisation. The airport expansion will be the first major project financed through the National Infrastructure Fund under this new financing model.
“Between Ksh15 and 20 billion from the National Infrastructure Fund, sourced from the Kenya Pipeline IPO, will provide seed money for the expansion of JKIA,” he said, highlighting the government’s commitment to improving Kenya’s transport infrastructure.
The Commissioner for Co-operative Development has reinstated the licence of Moi University Savings and Credit Co-operative Society (MUSCO), reversing a cancellation that had been in place since June 30, 2018.
In a Gazette Notice, Commissioner David K. Obonyo revoked the earlier decision under Section 62(1) of the Co-operative Societies Act, restoring the Sacco’s registration.
As reported by Capital Business, MUSCO’s licence had been cancelled after its debts ballooned to more than Ksh1 billion, largely blamed on mismanagement and non-performing loans.
Founded in 1988 by staff of Moi University, the Sacco had faced strong opposition to its closure from more than 3,000 members and political leaders.
The reinstatement follows a liquidation process initiated last year, with Kennedy A. Emali and Druscillah Jebet Cherogony appointed as joint liquidators to oversee assets, raise funds and settle outstanding debts.
12 Kenyan companies have been ranked among Africa’s Top 500 firms by profit and turnover in a new report by The Africa Report.
As reported by Capital Business, leading the Kenyan firms is Safaricom, ranked 51st, followed by Kenya Power (96), Vivo Energy Kenya (107), Kenya Airways (114), and TotalEnergies Marketing Kenya (139).
Other companies on the list include East African Breweries Limited (169), Naivas Supermarket (178), Quickmart Supermarket (333), KenGen (345), Kenya Pipeline Company (413), Unga Group (487), and BAT Kenya (489).
Across the continent, the top-ranked firms include Sonatrach of Algeria, Nigerian National Petroleum Company, and Vivo Energy Group, headquartered in South Africa.
Investors’ demand for Treasury bills hit a record high last week, with bids exceeding Ksh100 billion for the first time, reflecting surplus liquidity in Kenya’s money markets.
The auction recorded a subscription rate of 418.4 per cent, driven by ample cash in the economy, even as banks’ lending to households and businesses remains subdued.
As reported by Business Daily, interest rates fell across all papers, with 91-day, 182-day, and 364-day T-bills yielding 7.5795 per cent, 7.8216 per cent, and 8.6434 per cent, respectively.
The one-year 364-day bill attracted the most bids, Ksh83.3 billion against a Ksh10 billion target, showing investors’ preference for higher returns.
High liquidity was further evidenced by banks’ excess reserves of Ksh57.9 billion and CBK mop-ups of nearly Ksh300 billion via repos and term auction deposits, underscoring strong investor appetite for low-risk government securities amid local and global uncertainties.
The International Finance Corporation (IFC) will deploy a Ksh6.4 billion guarantee facility to support ZEP-RE (PTA Reinsurance Company), the Nairobi-based pan-African reinsurer, covering its reinsurance credit risk.
As reported by Ecofin Agency, the funding, approved in December 2025, will help ZEP-RE select higher-quality, profitable businesses and expand across Africa.
Founded in 1990, ZEP-RE’s shareholders include member states like Kenya, Ethiopia, Rwanda, and Uganda, as well as African financial institutions. With foreign reinsurers capturing 70–80% of African premiums, regulators are increasing mandatory local cessions to retain capital.
IFC will also provide technical support for digital risk management solutions targeting smallholder farmers and women-led SMEs, complementing ZEP-RE’s regional growth strategy.
.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.
.jpg)
.png)
