News and Analysis
December 10, 2025
Hello and welcome to the Money News Roundup Newsletter, where we are covering the government’s new push to split Safaricom into three units. We also cover the penalty Kenya will pay if it decides to terminate the Nairobi Expressway deal.
Kenya plans to proceed with splitting Safaricom into three units: fintech, telecommunications, and a tower company, even as it prepares to sell a 15% stake to Vodacom, Treasury CS John Mbadi has revealed.
As reported by Bloomberg, the government believes separating the business lines will significantly boost Safaricom’s value, a position still under discussion with Vodacom.
The move aligns with World Bank recommendations urging regulators to promote infrastructure sharing to lower costs and improve competition.
“We feel very strongly that going forward, if the three are split, then obviously the value of the firm is going to increase exponentially, and that is a discussion that we are still holding with Vodacom,” Mbadi stated.
“We need to have that split if we are to maximize the value.”
The split will not affect the ongoing Ksh245 billion deal that will raise Vodacom’s stake to 55% as the government’s stake reduces to 20%.
In the deal, the government is selling six billion shares at Ksh34 each. In addition, they will receive an advance dividend payment of Ksh40.2 billion.
Safaricom’s share price has surged this year, and the company is eyeing further regional expansion, which will require government approval.
Also Read: Govt in Ksh245 Billion Deal to Sell its Safaricom Shares to Vodacom
The Treasury has disclosed that Kenya would pay a Ksh103.76 billion break fee if the 27-year Nairobi Expressway PPP deal is terminated early, making it the largest liability among 11 PPP projects.
As reported by the Business Daily, the expressway alone accounts for over half of the Ksh203 billion in total PPP termination exposures.
Moja Expressway, a CRBC subsidiary, built the Ksh70.78 billion road and is meant to recover its investment through tolls until 2049.
Although traffic is high,12.5 million vehicles in six months, the road is loss-making, collecting Ksh7.16 billion against the Ksh9 billion needed for loan payments and operations.
Other PPP liabilities include Ksh23 billion under the roads annuity programme and over Ksh73 billion across solar, wind, and geothermal projects, even as Kenya works to streamline PPP processes.
Also Read: Frequently Asked Questions About Saccos in Kenya
The Sacco Societies Regulatory Authority (SASRA) has warned of increased hacking threats targeting cooperatives and members' accounts during the upcoming long weekends and Christmas holidays.
As reported by the Business Daily, acting CEO David Sandagi said cybercriminals often strike during late evenings and early nights when staff presence is minimal, with mobile banking the main target.
Malware attacks—triggered when users click suspicious links or ads—allow thieves to steal banking credentials.
Last year, hackers stole a record Ksh1.59 billion from Kenyan banks, with mobile banking theft rising 344% to Ksh810.68 million. SASRA has directed saccos to intensify 24/7 monitoring, strengthen internal controls, and watch for suspicious account linkages.
The National Transport and Safety Authority (NTSA) has warned the public about a fake website, Mverified, which falsely offers motor vehicle Copy of Records and logbook search services.
NTSA clarified that the site is not affiliated with the authority and urged anyone conned to report to the nearest police station.
As reported by Kenyans.co.ke, the agency emphasized that official COR and logbook searches are only available through the NTSA service portal on eCitizen, costing Ksh550 with instant processing.
The fraudulent site charged Ksh920 and directed payments to a personal account, claiming to send documents via email or SMS.
NTSA issued the alert after a Kenyan raised concerns online, noting such scams increase toward year-end when vehicle transactions surge.
Also Read: NTSA Issues Guidelines for Application of Reflective Number Plates & Motor Vehicle Inspections
Vehicle registrations in Kenya rose 25% in the first eight months of the year despite tough economic conditions, hitting 75,059 units—up from 59,945 last year and the highest in four years.
KNBS data shows the growth came from commercial transport: trailer registrations jumped 151.2% to 2,738 units, driven by rising cargo volumes and fleet upgrades. Public service vehicles also rebounded, with minibuses up 45% and buses up 25%. Station wagons remained dominant, growing 22.8% to 50,390 units.
As reported by the Business Daily, dealers attribute the surge to improved financing options, stable inflation, and better credit availability. A stronger shilling has also made imports cheaper, averaging Ksh129.3 to the dollar after recovering from January 2024’s Ksh163.
Busia Senator Okiya Omtatah has filed a petition seeking to suspend the newly signed Kenya–US Health Cooperation Framework, arguing it was approved without public participation or parliamentary oversight.
The Ksh208 billion, five-year agreement, he says, violates constitutional requirements for meaningful consultation and proper treaty ratification.
As reported by Citizen Digital, Omtatah warns that implementing the deal without parliamentary approval undermines public sovereignty and risks infringing on Kenyans’ right to health.
He also argues that the rushed signing bypassed legal processes and raises concerns about mismanagement of funds, noting the framework channels billions directly through government institutions without adequate safeguards.
Additionally, Kenya’s commitment to match US funding could strain the national budget and divert resources from essential health needs.
Read more: Mansa X: All You Need to Know About the Special Fund Offering 24% Returns
The Ministry of Health and the Council of Governors have been directed to develop a framework by mid-January 2026 to ensure maternity services at level two and three facilities are fully covered under the Primary Health Care Fund (PHCF).
As reported by Eastleigh Voice, the directive, issued during the 12th National and County Governments Coordinating Summit at State House, seeks to make maternal care more accessible and strengthen coordination between national and county systems.
Other resolutions include reviewing the Persons with Disability Act to align medical exemptions with the Social Health Insurance Act, cancelling zero-installation equipment contracts under NESP, and ensuring timely disbursement of county personnel funds.
More than 50 crypto firms have formed the Virtual Asset Association of Kenya (VAAK) ahead of new Treasury regulations that will license companies under the Virtual Asset Service Providers Act.
As reported by Kenya Wall Street, launched in Nairobi, VAAK will engage regulators as the sector transitions into oversight by the Central Bank of Kenya and Capital Markets Authority.
The law requires VASPs to maintain local offices, appoint Kenyan directors, segregate customer assets, and meet strict AML/CFT and data protection rules.
Firms such as Kotani Pay say clear regulation will boost consumer trust and attract investment.
With heavier penalties and annual license renewals, the rules are expected to push consolidation. VAAK aims to shape final regulations and strengthen Kenya’s digital-asset leadership.
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