News and Analysis
June 22, 2026
Welcome to the Money News Roundup. Today, we unpack fresh disclosures on the Ksh192 billion Nairobi–Mau Summit highway project and break down Kenya's newly secured Ksh22 billion Samurai bond financing from Japan.
KeNHA has awarded a 30-year PPP contract to a consortium of China Road and Bridge Corporation (CRBC) and the National Social Security Fund (NSSF) to develop and operate the Nairobi-Mau Summit road project.
In a public notice published in MyGov, KeNHA announced that the project covers approximately 139 kilometres, including the 81-kilometre Rironi-Gilgil (A8) Road and the 58-kilometre Rironi-Maai Mahiu-Naivasha (A8 South) Road.
The consortium will finance, construct and maintain the roads, interchanges, bridges, drainage systems, tolling infrastructure and road safety facilities before transferring the assets back to KeNHA at the end of the concession period.
Motorists will pay a toll fee of Ksh8 per kilometre, with future adjustments subject to government approvals.
Notably, the latest disclosure has left out Shandong Hi-Speed Road & Bridge International Engineering Co. Ltd (SDRBI), raising questions about the fate of the other Chinese firm’s previously announced role in the road project.
An earlier government publication had indicated that negotiations with CRBC-NSSF had failed after the consortium reportedly sought additional time to secure financing approvals from the Chinese government.
Following the collapse of the talks, authorities announced plans to split the project, with SDRBI set to develop the Gilgil – Nakuru - Mau Summit Highway section while CRBC-NSSF would handle the Rironi Naivasha – Gilgil and Rironi- Mai Mahiu – Naivasha
The latest disclosure makes no mention of SDRBI in the deal.
The road project, estimated to cost Ksh192.6 billion, is to be completed before August 2027, as construction started in November 2025.
The Fund Managers Association (FMA) has begun the process of seeking a self-regulatory organisation (SRO) licence from the Capital Markets Authority, a move that would give it powers to set and enforce industry standards.
As reported by the Business Daily, the association, which currently has 19 members, says SRO status will help strengthen accountability, professionalism and investor protection in the rapidly growing fund management sector. Assets under management in collective investment schemes rose to Ksh851.7 billion in March 2026 from Ksh756.3 billion in December 2025.
If approved, all fund managers would be required to join the FMA and comply with rules on conduct, disclosures and reporting. The association's members collectively manage about Ksh3.1 trillion in assets.
Kenya has secured a Ksh22 billion Samurai bond from Japan to support local vehicle assembly and fund electricity loss reduction projects.
As reported by KBC, the financing agreement was signed between the Government of Kenya and Nippon Export and Investment Insurance (NEXI).
Of the total amount, Ksh13.1 billion will be used to implement Kenya's National Automotive Policy, which aims to increase local vehicle assembly, promote value addition and reduce reliance on imported fully built vehicles.
A further Ksh5 billion has been allocated to the Reduction of Energy Losses Programme, which seeks to cut electricity losses in the national grid and lower energy costs for consumers and businesses.
Another Ksh4 billion will support public sector reforms, including the delivery of government services and protection of social investments.
Tanzanian businessman Edhah Abdallah Munif is seeing strong returns from his investments in Bamburi Cement and East African Portland Cement (EAPC) after both firms posted sharp profit growth.
As reported by the Business Daily, EAPC's net profit for the year ended June 2025 rose nearly five-fold to Ksh5.53 billion from Ksh1.16 billion, while Bamburi recorded a turnaround profit of Ksh3.08 billion from a Ksh905 million loss a year earlier.
Munif acquired Bamburi through a Ksh23.6 billion deal in 2024 and later spent Ksh2.32 billion to secure a 68.7% stake in EAPC.
Rising profits, higher asset valuations and strategic acquisitions have significantly boosted the value of his investments, with EAPC land revaluations pushing total assets to Ksh50.3 billion.
The High Court has temporarily stopped Diageo's planned Ksh340 billion sale of its 65% stake in East African Breweries Limited (EABL) and its holding in UDV Kenya to Japan's Asahi Group Holdings.
The order follows a petition by minority shareholder Christine Irungu, who claims investors were denied critical information when Diageo increased its EABL stake through a 2022-2023 tender offer before pursuing a sale.
The court directed that EABL's current ownership structure be preserved pending a hearing and ordered responses from the respondents within seven days.
The deal, which could generate Ksh42 billion in capital gains tax for the government, was expected to close between July and December 2026. Read more
Diaspora remittances to Kenya declined on a year-to-date basis for the first time in 2026, with inflows between January and May falling 1.4% to Ksh267.68 billion (US$2.07 billion) from Ksh271 billion (US$2.10 billion) a year earlier.
As reported by the Kenyan Wall Street, in May alone, remittances dropped 10.4% year-on-year to Ksh51.06 billion (US$394.2 million), marking a second consecutive monthly decline.
Analysts attribute the slowdown to the ongoing Middle East conflict and labour market disruptions in Saudi Arabia, which have affected an estimated 500,000 Kenyans working in Gulf states.
The CBK has revised its 2026 remittance growth forecast to 1.5%, warning that pressure on Gulf corridors could threaten the target unless inflows recover in the second half of the year.
Family Bank has officially listed on the Nairobi Securities Exchange (NSE), becoming the latest lender to join the bourse.
The bank debuted through a listing by introduction at Ksh18 per share. However, at the time, trading on a share was trading at Ksh50.
The listing does not involve raising new capital, as the lender previously strengthened its balance sheet through an oversubscribed private placement.
Family Bank reported a net profit of Ksh5.38 billion in 2025.
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