Key statistics:

• Kenya’s average lending rates fell to 14.70% in March 2026, the lowest since December 2023.
• The deposit rate decreased to 6.86%, its weakest level since August 2022.
• Private sector credit growth reached 8.1% year-on-year in March 2026, marking the strongest growth since January 2024.
• 34 out of 38 banks recorded lower lending rates year-on-year.

The Financial Stability Board (FSB) has raised concerns about vulnerabilities within the private credit market, particularly regarding borrower credit quality and valuation opacity. The FSB encourages authorities to close data gaps and harmonize definitions for better monitoring of private credit.

Reliance Bank has taken steps toward digital transformation by selecting Temenos SaaS. Nikki Fenton, CEO of Reliance Bank, stated that implementing Temenos SaaS is crucial for their strategy. The move aims to enhance operational efficiency and improve customer service.

The gross non-performing loan ratio edged up to 15.6% in March from 15.4% in December 2025. This slight increase indicates ongoing challenges for banks as they navigate financial stability issues.

The Monetary Policy Committee (MPC) held the Central Bank Rate (CBR) at 8.75% on April 8, pausing the easing cycle amid concerns over inflation and economic growth. The next steps for Kenyan banks will depend on how they manage these challenges while fostering credit growth.

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The average price for 95 octane unleaded petrol in the US has increased by more than 40 percent since February. The spike comes as the US-Israeli war on Iran has disrupted oil exports through the Strait of Hormuz. Before the conflict, gasoline prices averaged about 87 US cents per litre.

By the end of April, diesel prices in the US stood at 196.11 cents per litre. In Australia, the average price for a litre of unleaded petrol is 185.4 cents, reflecting a reduction due to the federal government’s halving of the fuel excise. Diesel prices there have decreased from a peak of 328.4 cents to 260 cents.

The inflation rate in Australia rose to 4.6 percent in March, partly due to automotive fuel prices. Experts suggest that tight supply is affecting even major exporters like Australia.

Expert opinions:

• Ben Fahimnia noted that many cities have recently experienced a downward phase, allowing pump prices to fall despite rising upstream costs.
• Peter Robertson explained that the US was less reliant on oil imports, which prevented significant price spikes compared to Australia.
• Lurion De Mello warned that tight supply is putting pressure on fuel prices globally.

The situation remains fluid as officials monitor developments. Prices are likely to increase in June when the fuel excise cut expires and the closure of the Strait of Hormuz continues.

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Before this development, employers expected to register under the NSIF Act. They needed to obtain a registration certificate as per Section 25. However, no employers or employees have registered under the NSIF Act yet.

The decisive moment came with Circular Number 5/2026, which annulled Circular Number 03/2010. This change has immediate implications for employee contributions and retirement benefits, particularly since contributions made before the NSIF Act are ineligible for remittance to the Fund.

As it stands, Section 42 of the NSIF Act mandates that employees must make 180 monthly contributions to qualify for retirement pension benefits. Yet, without registration and enabling regulations, many employees may find themselves unqualified.

Experts express concern over the situation. Riek James Doar stated that “Circular Number 5/2026 appears to be premature, as critical mandatory preliminary steps essential for the remittance of social insurance benefits to the Fund remain incomplete.” This highlights the urgency of establishing a comprehensive regulatory framework.

Additionally, there are uncertainties regarding the authority of the Undersecretary in issuing Circular Number 5/2026. Officials have not clarified whether the necessary steps for operationalizing the NSIF have been completed.

The Ministry of Labour has suggested that it might take three to five years to undertake necessary steps for effective implementation. Until then, employees remain at risk of losing out on their entitled benefits due to these procedural delays.

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Equity Bank is focusing on specialized engineering talent. The roles include DevOps Engineers and Site Reliability Engineers. Additionally, the bank is recruiting Application Security Specialists and Information Security Analysts in Kigali. This recruitment reflects a shift towards technology-driven operations within the banking sector.

The Assets Recovery Agency is involved in a separate investigation targeting cybercrime. They are seeking to freeze over Sh6.7 million linked to a mobile phone theft and money laundering syndicate. The funds are believed to be proceeds of crime generated from the theft, repair, and resale of stolen mobile phones.

Key details of the investigation:

• The agency targets three individuals suspected of running the syndicate.
• The largest single amount targeted is Sh4 million in one account linked to Syllus Musila Kivyatu.
• Zachariah Lekishon stated that the respondents are involved in acquiring and selling stolen mobile phones.

There is imminent danger that these individuals may dispose of or transfer the funds unless preservation orders are issued by the court. Observers note that this situation highlights ongoing challenges with cybercrime in Kenya.

As Equity Bank seeks to redefine African finance through its recruitment efforts, it also aims to promote financial inclusion across its markets. The bank’s strategy aligns with broader economic goals amid a competitive job market.

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The competition featured 14 contestants aiming to identify a hidden millionaire among them. Kaleb Moon was the secret millionaire before the final challenge. In a tense moment, Pellecchia switched his empty box with Moon’s money-filled box to clinch victory.

The final four contestants included Pellecchia, Moon, Kat Ellis, and Lauren Gierth. Kat Ellis notably skipped her brother’s wedding to participate in the show. This decision highlights the personal sacrifices contestants make for reality TV fame.

Pellecchia plans to invest his winnings into his influencer career. He stated, “I plan on just investing it back in myself [and] investing in new experiences to help build an audience.” His win could significantly impact his future as an influencer.

Peter Serafinowicz hosted the show, which is available for streaming on Netflix. The format of Million Dollar Secret combines elements of a game show with reality TV dynamics, making it appealing to a broad audience.

This season’s finale showcased not only strategic gameplay but also emotional moments among contestants. Kaleb Moon expressed his feelings about the competition: “I didn’t figure, if I lasted, that I would get it back. But when I did, I got emotional.”

The outcome of this intense finale marks a significant milestone for Pellecchia and sets the stage for his future endeavors in the influencer space.

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Landlords earning between Ksh288,000 and Ksh15 million annually must pay a monthly residential rental income tax at a rate of 7.5% on gross rent. The amendments aim to improve tax compliance and seal loopholes in rental income declaration.

Under the new regulations, landlords will be required to register their properties on the Electronic Rental Income Tax System (eRITS). They must file monthly returns and remit taxes by the 20th day of the month following receipt of rent.

KRA proposes penalties for late filing and payment ranging from Ksh2,000 to over Ksh50,000. This is part of a broader effort to enhance accountability among property owners.

The Monthly Rental Income (MRI) tax was first introduced under the Finance Act of 2015. It became effective on January 1, 2016, but these new regulations mark a significant shift in enforcement.

KRA stated, “Your voice matters! We want to hear from you before finalising the new Residential Rental Income Tax Regulations and the Graduate Apprenticeship Tax Rebate rules.” This indicates that public input is being sought before final implementation.

In addition, landlords must ensure they register their properties electronically. A person with income subject to residential rental income tax shall register such property in an electronic system prescribed by the Commissioner.

Observers expect these changes will lead to greater transparency in the rental market. However, uncertainties remain regarding how effectively KRA will enforce these regulations.

KRA is seeking public input on the proposed tax regulations until May 25, 2026. This period will be crucial for stakeholders to voice their opinions and concerns about the upcoming changes.

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Geoffrey Ruku, a representative from the Kenya Union of Civil Servants, stated, “There will be another salary increase in July this year.” The new Collective Bargaining Agreement (CBA) aims to address the ongoing cost of living crisis faced by over 300,000 civil servants.

The upcoming salary increment follows a previous pay rise in January 2026, which was backdated to July 2025. The CBA will cover the remuneration review cycle from 2025/2026 to 2028/2029.

Negotiations are ongoing regarding the structure of the salary increment. Officials are discussing whether it will be paid as a lump sum or in phased installments over four years. Ruku emphasized that the Ministry is liaising with the Salaries and Remuneration Commission (SRC) to finalize and sign the CBA.

The new salary structure will include adjustments to basic salaries and leave allowances for civil servants across all grades. The maximum basic salary for civil servants in higher grades (CSG4) is set at Ksh396130, while the minimum will be Ksh185690. Additionally, house allowances for civil servants in Nairobi may reach up to Ksh140600.

This pay rise is expected to offer relief to public servants amid the rising cost of living. Ruku noted, “The upcoming CBA will set the framework for salary reviews and benefits for thousands of public servants nationwide.”

As discussions continue, details on the exact implementation structure of the salary increment are still being negotiated. The government has held several meetings with union representatives to ensure that civil servants receive fair compensation.

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On April 21, 2026, IPOA launched inquiries into the fatal shooting of Adan Mohamed Hassan, who was shot while responding to a distress call from friends arrested by police. A post-mortem examination revealed that he died from a single gunshot wound to the head.

Hundreds of residents in Garissa have called for swift investigations into the killing of the taxi driver. IPOA’s Rapid Response Team has begun inquiries into the shooting incident. Yet, a parent has filed a lawsuit against IPOA for listing a minor as deceased during protests.

Job openings announced by IPOA:

• 33 positions available across various departments.
• A chairperson position requires Kenyan citizenship, a university degree, and at least ten years of relevant experience.
• The chairperson will serve a non-renewable term of six years.

Applications for the chairperson role must be submitted by May 19 at 5 PM. The authority stated that no fees are charged at any stage, and only shortlisted applicants will be contacted.

Ann Mwangi, IPOA Vice Chairperson, emphasized that “IPOA remains committed to conducting independent and impartial investigations into the matter.” Preliminary findings indicate that at approximately 2:20 AM on the day of the shooting, Hassan attempted to intervene during his friends’ arrest when he suffered a fatal gunshot injury.

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Job openings:

• IPOA has 33 job openings available.
• The chairperson position requires applicants to be Kenyan citizens with a university degree and at least ten years of relevant experience.
• The chairperson will serve a non-renewable term of six years.
• Applications for the chairperson role must be submitted by May 19 at 5pm.

On the same day as the job announcement, IPOA initiated investigations into the shooting death of Adan Mohamed Hassan. The taxi driver was shot while responding to a distress call from friends who had been arrested by police. A post-mortem examination indicated that Hassan died from a single gunshot wound to the head.

IPOA’s Rapid Response Team has begun inquiries into this shooting incident. Hundreds of residents in Garissa have called for swift investigations into the killing. Ann Mwangi, IPOA Vice Chairperson, stated that IPOA remains committed to conducting independent and impartial investigations into the matter.

Additionally, legal action has arisen from this incident. A parent has sued IPOA for incorrectly listing a shot minor as deceased during protests related to the shooting. This case adds another layer of pressure on IPOA amid ongoing public scrutiny regarding police oversight in Kenya.

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The new charges arise from fluctuations in foreign exchange rates, water resource levies, and rising fuel costs. A Foreign Exchange Fluctuation Adjustment of Plus 123.41 Cents per kWh will be applied for April.

Additionally, the Water Resource Management Authority (WRMA) levy adds 1.54 cents per kilowatt-hour for electricity sourced from hydropower plants. The Fuel Energy Cost Charge (FECC) will increase bills by 347 Kenya cents per kilowatt-hour.

These adjustments stem from exchange gains and losses exceeding Ksh 1.3 billion recorded in March 2026. KenGen reported a gain of Ksh 14.26 million during this period, while Kenya Power posted Ksh 453.2 million in exchange gains. Independent Power Producers contributed Ksh 874.78 million in gains.

Twelve hydropower stations are included in the WRMA levy calculation, which affects many consumers relying on this energy source. In contrast, Turkana County has the highest diesel fuel price at Ksh 255.48 per kilogram—impacting those dependent on diesel-generated electricity.

Areas connected to geothermal plants benefit from lower steam charges at Ksh 2.59 per kilogram, providing some relief amid rising costs.

Dr. Eng. Joseph Oketch stated, “All prices for electrical energy specified in the Schedule of Tariffs will be liable to a Fuel Energy Cost Charge of Plus 347 Kenya cents per kWh for all meter readings taken in April 2026.” This highlights the immediate financial impact on consumers.

Officials have not disclosed any plans to mitigate these additional costs for households and businesses affected by these increases. The adjustments reflect a broader trend towards rising electricity tariffs in Kenya.

As these changes take effect, consumers will need to prepare for higher monthly bills starting this April.

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