Unused Crypto Balances to be Handed Over to Govt in Proposed Law

Hello and welcome to the Money News Roundup. Today, we are covering a proposed law that will see unclaimed crypto surrendered, Quickmart shares’ Ksh5.6 billion gain, CAK’s 10% fine to retailers over unfair commercial terms on suppliers.

Treasury’s Proposed Law Wants Unclaimed Crypto & Stablecoins Surrendered to Govt

The Treasury Ministry is looking to compel crypto companies to surrender unclaimed cryptocurrencies and stablecoins to the government.

As reported by Business Daily, the proposed law seeks to widen the list of idle assets that the government can seize as cryptocurrency adoption continues to grow.

According to reports, Kenyans traded cryptocurrencies worth Ksh740 billion in the year ended June 2026, up from Ksh505 billion in the same period last year.

Currently, assets that can be seized and transferred to the Unclaimed Financial Assets Authority (UFAA) include shares, bank accounts, safe deposits and bankers' cheques.

Earlier, Money254 reported that the International Monetary Fund (IMF) wants Kenya to compel cryptocurrency firms to share customers' identification details with the government to curb money laundering and terrorism financing.

Quickmart Shares Gain Ksh5.6B on First Day of Trading, Company Valued at Ksh35.6B

Investors in the newly listed Quickmart shares saw the value of their investments grow by 19% within just six hours of the company's shares trading on the Nairobi Securities Exchange (NSE).

According to the Daily Nation, the shares, which started trading on Thursday, added Ksh5.6 billion to the company's market value by close of business.

The shares, which had been offered to investors at Ksh7.50 apiece, opened trading at Ksh10 before closing the day at Ksh8.90. A total of 9.7 million shares changed hands, representing a traded value of Ksh86.2 billion.

The listing followed an oversubscribed share sale that initially valued Quickmart at Ksh30 billion. By the close of the first trading session, the company's market capitalisation had risen to Ksh35.6 billion.

Kenya's Special Funds to Capture 45% of Mutual Fund Market by 2027

Special funds in Kenya could account for 45% of the country's mutual fund market by the end of 2027, driven by stronger returns that have attracted investors.

According to Bloomberg, assets under management in the relatively new category could grow to almost half of Kenya's $7.3 billion mutual fund market by the end of next year. The Capital Markets Authority (CMA) formally introduced special funds in 2023. Unlike conventional unit trusts, they allow fund managers to pursue higher-risk investment strategies involving commodities, offshore assets and leverage, subject to regulatory approval.

Britam's asset management CEO, Barack Obatsa, expects special funds to continue growing faster than conventional investment products over the next two years.

Read More: Mansa-X Special Fund Posts 10.97% Net Return for 2026 Half-Year

Retailers Face Fines of Up to 10% of Annual Turnover for Unfair Supplier Terms

Retailers in Kenya risk fines of up to 10% of their annual turnover for imposing unfair commercial terms on suppliers, as the Competition Authority of Kenya (CAK) moves to investigate growing concerns over abuse of buyer power in the retail sector, The Star reports.

CAK has warned retailers against forcing suppliers to absorb business costs, demanding excessive rebates and promotional contributions, delaying payments and imposing unfavourable conditions through joint business plans. The regulator also clarified that joint business plans should be voluntary and that commercial agreements must result from genuine, good-faith negotiations rather than terms dictated by buyers because of their market dominance.

Under the Competition Act, companies found guilty of abusing buyer power risk criminal fines of up to Ksh10 million, imprisonment of up to five years, or both. CAK can also impose administrative penalties of up to 10% of an undertaking's gross annual turnover in the preceding financial year. The authority has urged suppliers facing unfair treatment to retain evidence, including supply agreements, correspondence and payment records, and lodge complaints.

Kenya Targets Ksh96B in Private Infrastructure Investments

Kenya is targeting Ksh96 billion in private investments for public infrastructure projects in the financial year ending June 2027, as rising debt repayments limit the government's ability to finance development, Business Daily reports.

The target represents a 74.5% increase from the Ksh55 billion mobilised through public-private partnerships (PPPs) in the previous financial year.

The money will support infrastructure projects in sectors such as roads, electricity transmission and water. Major projects include the Rironi-Gilgil, Rironi-Maai Mahiu-Naivasha and Gilgil-Nakuru-Mau Summit roads, which have an anticipated private capital investment of Ksh183 billion.

Under PPP arrangements, private companies finance, build or operate public infrastructure and recover their investments through tolls, user charges or contractual payments. However, some projects face delays, with several not expected to reach financial close until the 2028/29 financial year.

Also in the News 

• Safaricom is now contributing approximately 32.4% of South Africa's Vodacom Group's earnings before interest, tax, depreciation and amortisation (EBITDA) following its acquisition, which helped lift Vodacom's half-year EBITDA by 40% to Ksh337 billion in the six months ended September 2026. Safaricom contributed Ksh67.45 billion in EBITDA and Ksh116 billion in service revenue in the July-September quarter alone. Meanwhile, Vodacom's financial services revenue nearly doubled to Ksh125.88 billion, with Safaricom's M-PESA contributing Ksh51.58 billion. The Kenyan operator also recorded a 35.9% increase in net profit to Ksh58.15 billion, further cementing its position as one of Vodacom's biggest earnings drivers - Kenyan Wall Street

• Co-operative Bank shares have gained 54.7% since the beginning of 2026, rising from Ksh23.95 in January to Ksh37.10, as the lender reported strong earnings growth and improving asset quality. The bank's nine-month net profit increased 27% to Ksh27.4 billion for the period ended September 2026, while gross profit grew 19.6% to Ksh35.9 billion. Its total assets rose 11.3% to Ksh907.4 billion, while net loans and advances increased 22.2% to Ksh496.9 billion, reflecting expanding lending activity. Meanwhile, the lender's non-performing loans ratio improved to 12.9% from 17.1% a year earlier, signalling better loan quality. - The  Star