News and Analysis
September 15, 2026
Hello and welcome to the Money News Roundup Newsletter. Today, we cover Vodacom’s response following the High Court's nullification of its acquisition of a 15% stake in Safaricom. We also look at how investors at the NSE have lost billions as rising tensions in the Middle East trigger uncertainty in global markets.
Vodacom Group has announced plans to appeal a High Court ruling that nullified the Kenyan government's sale of a 15% stake in Safaricom and ordered that the shares be returned to the State.
Vodacom, in a response to Bloomberg, said it would file an appeal and seek a stay of the ruling pending the outcome of the case.
The transaction, completed on June 30, saw Vodacom increase its stake in Safaricom to about 55% from nearly 40%, while the government's shareholding fell to 20%.
The sale raised approximately Ksh204.3 billion, with an additional Ksh40.2 billion generated through future dividends.
In the judgment delivered on Tuesday, Justices Francis Gikonyo, Roselyne Aburili and Tabitha Ouya ruled that the transaction violated public finance laws and failed to meet constitutional requirements on public participation.
The court also found that key documents, including the share purchase agreement, were not disclosed to the public.
Students and researchers will pay significantly higher fees for research licences from October 1 after NACOSTI revised its charges for the first time in over a decade.
As reported by Citizen Digital, under the new rates, diploma and undergraduate students from EAC countries will pay Ksh1,000 and Ksh2,000 respectively, up from Ksh100. Master's students will pay Ksh6,000, up from Ksh1,000, while PhD candidates will pay Ksh10,000, up from Ksh2,000.
Postdoctoral researchers and individuals will pay Ksh15,000, up from Ksh5,000. Research institutions will pay Ksh30,000, while companies will pay Ksh50,000, both up from Ksh20,000.
Investors at the NSE have lost Ksh158 billion in wealth over the past week as profit-taking and global market concerns triggered a decline in blue-chip stocks.
As reported by the Business Daily, Market capitalisation fell from a record Ksh4.285 trillion on September 3 to Ksh4.126 trillion by Tuesday. Safaricom, Equity Group, KCB Group and Co-operative Bank accounted for Ksh113.6 billion of the losses.
Analysts attributed the correction to investors locking in gains after a strong rally that pushed several stocks to record highs. Concerns over rising oil prices linked to Middle East tensions and expectations of higher US interest rates have also weighed on sentiment.
Foreign investors have remained net sellers, recording outflows of Ksh1.6 billion in September.
Standard Chartered has launched the Signature Select Variable Capital Company (VCC) in Kenya, a CMA-approved investment platform that gives eligible investors access to professionally managed global investment strategies.
As reported by Citizen Digital, the platform combines investment solutions from global fund managers, including Allianz, BlackRock, T. Rowe Price and Pimco, allowing investors to diversify beyond local markets. Standard Chartered says the product is designed for sophisticated investors seeking long-term wealth preservation and international exposure.
The bank noted that Kenya has more than 6,800 dollar millionaires, driving demand for advanced wealth management and succession planning solutions.
Four months after launch, the platform has attracted over about Ksh2.6 billion( $20 million) in assets under management.
Bishop Gatimu Ngandu Girls High School of Nyeri has been directed by MPs to explain a Ksh1 million investment at the NSE that generated only Ksh5,381 in dividends in one year.
As reported by Capital, the school appeared before the National Assembly Public Investments Committee after the Auditor-General questioned Ksh1.58 million reported as short-term investments in its 2021 financial statements.
MPs raised concerns over whether the investment offered value for money, with some questioning why a public school was investing funds while parents continued contributing towards school expenses.
The school was unable to immediately provide details of the shares purchased or proof of Treasury approval. MPs ordered the institution to submit investment records, approval documents and minutes authorising the investment.
The High Court has quashed the suspension of four State House Girls High School students, ruling that schools cannot punish learners collectively over alleged misconduct without evidence linking each student to the offence.
As reported by Nation, Justice Nabil Orina found that the school acted unfairly by suspending all 15 students who were at the dispensary when an alleged discussion about setting the school on fire took place. The judge said being present at the location was not sufficient proof of involvement in the alleged plot.
While acknowledging that school administrators must act swiftly when faced with security threats, the court ruled that urgency does not override students’ rights to fair administrative action.
The suspensions issued on June 5, 2026, were nullified, though the school retains disciplinary powers where evidence exists against individual learners.
The Kenya Forest Service (KFS) has defended its move to restrict access to part of Muthaiga Golf Club, saying the affected section encroaches on approximately 21.8 hectares of the gazetted Karura Forest.
As reported by the People Daily, according to KFS, Karura Forest was surveyed in 1923, declared a Forest Reserve in 1932 and later gazetted as a Central Forest in 1964.
The agency maintains that part of Land Reference Number 13134/3, claimed by Muthaiga Golf Club, falls within the forest boundary. The dispute has led to the closure of the club’s Front Nine holes. KFS says a meeting will be held to seek an amicable resolution.
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