News and Analysis
May 21, 2026
Hello and welcome to the Money News Roundup Newsletter, where we cover the deal that convinced matatu operators to call off their nationwide strike. We also look at the potential fines and diplomatic fallout Kenya faces after a court ordered the release of confidential SGR deal documents.
President William Ruto on Friday morning announced a deal that saw matatu owners and transport industry players call off their nationwide strike that had recently been suspended to allow for talks.
However, as announced at State House Mombasa, the current fuel prices will remain unchanged, with the President promising a Ksh10 reduction in the price of diesel when the regulator announces prices for the June/July cycle on June 14th.
The head of state announced a raft of measures that were meant to cushion the matatu and transport industry from the current high fuel prices:
Currently, Diesel is retailing at Ksh232.86, therefore, from June 14, the price will drop to Ksh222.86. Meanwhile, petrol will continue to retail at Ksh214.25 per litre.
It is yet to be known whether the petrol prices will drop in the next cycle.
The President noted that the government had already spent Ksh13.7 billion to cushion Kenyans through subsidies.
Kenya is facing a potential legal suit and fines after the Court of Appeal ordered the government to disclose confidential agreements linked to the Ksh580.5 billion Standard Gauge Railway (SGR) project financed by China.
As reported by the Business Daily, the court upheld a 2022 High Court ruling compelling the State to release contracts, loan agreements and procurement records tied to the Mombasa-Nairobi railway project.
Government lawyers had warned that disclosing the documents could violate confidentiality clauses signed with Chinese entities. However, the exact amount of fine Kenya faces is not known.
Transparency activists, including Katiba Institute, sought access to the records, arguing taxpayers have a right to know the obligations attached to the Chinese-funded project.
However, the Court of Appeal ruled that constitutional rights on access to information outweighed the State’s claims of secrecy, adding that the government failed to prove how disclosure would harm national security or economic interests.
Ride-hailing operators have proposed a 16% increase in fares following the recent increase in fuel prices, which has increased operational costs.
As reported by Kenyans.co.ke, under the proposal, passengers using vehicles below 1050cc would pay a minimum of Ksh380 for trips up to three kilometres. Vehicles between 1050cc and 1400cc would charge at least Ksh420, while those above 2000cc would cost a minimum of Ksh630 for the same distance.
The Ehailers Transport Operators Umbrella Association also proposed higher charges during peak hours, night travel and public holidays, with some trips costing up to four times the normal fare.
The US State Department has imposed sanctions on Tanzanian Police Force (TPF) Senior Assistant Commissioner Faustine Jackson Mafwele over alleged gross human rights violations.
As reported by Reuters, the sanctions follow allegations linking the police boss to human rights violations against Ugandan activist Agather Atuhaire and Kenyan activist Boniface Mwangi. The incident occurred one year ago after the two had travelled to Dar es Salaam to observe the court trial of Tanzanian opposition leader Tundu Lissu.
Mafwele is now barred from entering the US.
According to the Business Daily, more than three-quarters of stocks listed on the NSE have recorded price declines over the past month as investors shift away from equities amid rising geopolitical and inflation concerns.
Data from the NSE shows 46 out of 61 traded stocks posted losses, with analysts linking the downturn to the Iran war and rising fuel prices, which have increased fears of higher inflation.
Notable stocks that reported losses include KCB (4.3 per cent), Equity (0.9 percent) and EABL (2 per cent).
Safaricom was the only major counter to post gains, rising by 2.35 per cent to Ksh30.55 per share.
Analysts say investors are increasingly favouring safer assets such as government bonds, money market funds and fixed deposits as inflation rises and expectations grow that the Central Bank of Kenya could increase interest rates in June.
The Kenya Petroleum Oil Workers Union has petitioned the Capital Markets Authority (CMA) over alleged corporate governance irregularities at Kenya Pipeline Company (KPC), raising concerns about the ongoing recruitment of the firm’s Managing Director.
In a letter dated May 15, the union argued that KPC’s transition from a public to a private company requires the board to be reconstituted before major executive appointments are made.
The petition, signed by Secretary General George Okoth, warned that the current board may lack the authority to oversee the recruitment process under the new shareholder structure. Read more from Capital Business.
Kenya Power has earned Ksh382 million from the growing adoption of electric vehicles (EVs), driven by rising electricity sales to the e-mobility sector.
As reported by the Star, the utility firm said EV-related electricity sales have grown 113-fold in less than three years, increasing from 13,500 kWh in July 2023 to more than 1.5 million kWh in April 2026.
Nairobi accounted for 71 per cent of cumulative revenues, although other regions are gradually recording higher uptake. Kenya Power Managing Director Joseph Siror said the growth signals that EV adoption has moved beyond pilot projects into mainstream use across Kenya.
The High Court has dismissed an application by Digital Mara Media Limited seeking to stop Kenya Airways from terminating a Ksh300 million advertising contract, directing that the dispute proceed to arbitration instead.
As reported by the Kenyan Wall Street, Digital Mara had sought interim orders blocking the airline from enforcing a termination notice issued in July 2025, arguing that the move breached a three-year advertising agreement signed in September 2024.
The media firm claimed the deal gave it exclusive rights to manage and commercialise Kenya Airways advertising spaces. However, Kenya Airways argued that the contract allowed either party to terminate the agreement without cause through a 60-day notice.
As reported by Capital Business, Kakuzi Chairman Nicholas Ng’ang’a has said the firm is now expanding into blueberries and processed avocado products, including frozen pulp and crude avocado oil, to reduce reliance on fresh produce exports amid global tensions.
Kakuzi reported a 23 per cent rise in avocado production, with exports increasing to 525 containers from 446 a year earlier. Profits nearly doubled to Ksh709 million in 2025 from Ksh361 million in 2024. Macadamia profits also rose sharply to Ksh365 million.
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