IndependentKUSCCO’s failure to repay a KSh480.53 million matured deposit to Mhasibu Sacco in January 2024 offered an early warning that the apex body’s problem was no longer accounting but liquidity. The crisis that followed — including an estimated KSh12.5 billion asset deficiency, losses of up to KSh14 billion and exposure equal to more than 7% of regulated SACCO core capital — has exposed a deeper regulatory flaw: SACCO funds were being intermediated through an institution outside the prudential framework designed to protect them.
SACCOs, regulation and financial stability · 21 Aug 2026 · 6 min read
IndependentA new pure-play operator faces KSh15 million for the licence and an upfront KSh800,000 operating fee, followed by 0.4% of licensed-system revenue or KSh800,000 a year. The deeper question is whether one network rulebook can distinguish colocation from connectivity.
Policy & Regulation · 20 Aug 2026 · 17 min read
IndependentKenya’s Auditor-General has identified extensive weaknesses in the eCitizen platform’s financial controls, including KSh35.5 billion in collections lacking bank-statement support, KSh7.05 billion held in collection accounts, off-contract payments, unapproved accounts and prolonged private-vendor control over critical system infrastructure. The findings turn eCitizen from a digital-government success story into a governance test, raising questions over fiscal transparency, settlement discipline, cybersecurity and the state’s control of one of its most important revenue-collection platforms.
20 Aug 2026 · 6 min read · Paid
CorrectionIt was proposed as a boundary between registration and licensing, not a blanket entry floor. The harder competition test lies in inherited licences, the commercial viability of registration and sharply higher fees.*
Policy & Regulation · 20 Aug 2026 · 15 min read
First Reading.UFAA holds billions in an audited Trust Fund. Its harder test is whether a custodian can grow faster than it restores ownership.
Policy & Regulation · 20 Aug 2026 · 20 min read
IndependentKenya's Working Poor Are Paying 180% APR for What the Industry Calls Financial Inclusion.
Buy Now Pay Later · 19 Aug 2026 · 23 min read
IndependentThe house does not need to predict football better than you. It only needs you to keep buying another chance.
Gambling · 19 Aug 2026 · 11 min read
First Reading.Safaricom’s masking of M-PESA numbers is more than a simple privacy upgrade. It is a battle for control of Kenya's digital finance infrastructure. As critical identifiers vanish, the regulatory focus shifts from data access to data control and portability.
Payments · 18 Aug 2026 · 12 min read
