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News and Analysis
May 28, 2026
Hello and welcome to the Money News Roundup Newsletter, where we cover the controversial Kenya-U.S. agreement to establish an Ebola quarantine facility in Laikipia, as well as the latest court ruling that has temporarily halted the auction of Cytonn-linked properties, including The Alma.
Editor's Note: The High Court in Nairobi on Friday morning temporarily halted plans to establish a US-linked Ebola quarantine facility in Laikipia County after issuing conservatory orders pending the hearing and determination of the case.
The US has announced that it will give Kenya about Ksh1.74 billion ( $13.5 million) to support Kenya’s Ebola preparedness, after it agreed to host the US quarantine facility.
The announcement by the US State Department followed a phone call between US Secretary of State Marco Rubio and President William Ruto.
As reported by the Wall Street Journal, the Trump administration reached an agreement with Kenya to establish a quarantine facility for Americans exposed to Ebola in DRC.
The 50-bed facility will be located at the Laikipia Air Base in Nanyuki and is expected to become operational from today.
More than 30 US public health officers, including doctors, nurses and other specialists, have been deployed to run the centre.
The Katiba Institute and the Law Society of Kenya have filed a court case challenging the arrangement, arguing that it could expose the country to unnecessary health risks.
The High Court has halted the auction of The Alma and other Cytonn-linked properties for 60 days in an ongoing liquidation dispute involving Cytonn-related entities and the Official Receiver.
As reported by Capital Business, the court dismissed contempt of court applications filed against Cytonn executives, ruling that the allegations had not been sufficiently proven.
At the same time, it upheld the Official Receiver’s authority to take over and manage The Alma as part of the liquidation process. The court also ordered rent and service charge collections to be directed through the Official Receiver. A final composite ruling is scheduled for July 17, 2026.
Absa Bank Kenya posted a 13.8 per cent decline in net profit for the quarter ended March 2026, with earnings falling to Ksh5.3 billion from Ksh6.1 billion a year earlier.
As reported by the Business Daily, the lender attributed the drop to lower interest rates, reduced lending and weaker interest income, which fell 10.1 per cent to Ksh13.5 billion.
The bank cut interest paid on deposits by 17 per cent to Ksh3.1 billion, helping cushion margins. Absa also reduced its loan book by Ksh4.5 billion while increasing investments in government securities by Ksh22.5 billion to Ksh128.4 billion.
I&M Bank has listed the first tranche of its Kenya shilling-denominated Medium-Term Note (MTN) on the Nairobi Securities Exchange (NSE), allowing investors to trade the debt instrument on the secondary market.
As reported by Capital Business, the Ksh10 billion offer attracted applications worth Ksh23.2 billion, representing a 232.26 per cent subscription rate and highlighting strong demand for corporate debt products.
Investors can now buy and sell the notes on the NSE with a minimum investment of Ksh50,000. I&M Bank said the listing will improve liquidity and support its long-term funding strategy, while boosting Kenya’s growing corporate bond market.
Enwealth Trustees Services Limited has received approval from the Capital Markets Authority (CMA) to operate as a licensed corporate trustee in Kenya.
As reported by Capital Business, the approval allows the company, a subsidiary of Enwealth Group, to offer fiduciary and trustee services for collective investment schemes, corporate bonds, infrastructure financing projects, retirement benefit trusts, escrow accounts and employee share ownership plans.
Founded in 2011, Enwealth Financial Services serves over 200 corporate clients and manages assets worth approximately Ksh116 billion ($900 million).
Rubis Energy has failed in its attempt to overturn a Ksh458 million fuel supply tender awarded to Stabex International by Kenya Power.
As reported by the Business Daily, the Public Procurement Administrative Review Board (PPARB) dismissed Rubis' challenge, ruling that the company lacked legal standing because it did not demonstrate that it had suffered or was likely to suffer loss or damage from the procurement process.
The tender attracted 12 bidders, with Stabex emerging as the lowest evaluated bidder at Ksh458.2 million. Rubis had submitted a bid of Ksh542 million. The board upheld Kenya Power’s decision and struck out the review request.
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