Controller of Budget Margaret Nyakang’o has criticized Kenya’s National Treasury for misusing Article 223 of the Constitution, which led to an unauthorized spending of Sh77.48 billion outside the budget law during the last financial year.

• Sh66.54 billion of the extra spending was withdrawn directly from the Consolidated Fund for predictable obligations like pending bills and salaries.
• Controller of Budget Margaret Nyakang’o faulted the National Treasury for breaching fiscal discipline.
• Article 223, meant for emergencies (10 percent cap), was used for routine government programs such as road projects and salary arrears, indicating "potential lapses in the budget formulation process."

The Metropolitan National Sacco Society has approved a forensic audit after a Sh15 billion loan book asset was revealed to be untraceable, alongside a negative equity position. This decision, aimed at addressing concerns about the Sacco's financial stability, was made during their 47th Annual General Meeting (AGM).

• Most important fact or figure from the article: A Sh15 billion untraceable loan book asset and a negative equity of Sh12.3 billion.
• Key person or organization involved: Metropolitan National Sacco Society.
• Notable detail that adds context: They achieved profitability in 2023 for the first time in over a decade through cost-cutting, but still face challenges from insufficient liquidity and loan defaults.

The High Court has ruled in favor of Pesapal Limited, overturning a tax tribunal decision and exempting the payment firm's commissions from Value-Added Tax (VAT). This landmark judgment means Pesapal will not have to pay KSh 76.8 million in unpaid VAT and KSh 33.9 million in penalties and interest assessed by the Kenya Revenue Authority (KRA).

• High Court Judge Rhoda Rutto ruled that Pesapal's activities align with VAT-exempt financial services, even when delivered digitally.
• The Kenya Revenue Authority (KRA) had argued that Pesapal was a technology platform, not a financial service provider.
• The ruling affirms that digital payment processors can qualify for VAT exemption, signifying that any future expansion of VAT in this sector would require new legislation.