The High Court has ruled that the Auctioneers Licensing Board exceeded its authority by attempting to discipline a dozen banks and credit firms, including Co-operative Bank, for allegedly conducting auction activities without proper licenses. Justice Benjamin Njoroge clarified that the Board's mandate is limited to licensed auctioneers.

• The complaint against the financial institutions was brought by the Kenya National Society of Professional Auctioneers.
• Co-operative Bank, supported by firms like NCBA Bank and Stanbic Bank, argued they are regulated by the Central Bank, not the Auctioneers Board.
• Justice Njoroge stated the Auctioneers Act only grants the Board power over its members, not external entities, echoing a similar decision from 2022.

Kenyan lawmakers are grilling Social Health Authority (SHA) CEO Dr. Mercy Mwangangi over alleged irregularities including excessive legal fees and ballooning project costs, raising concerns about systemic corruption.

• The SHA paid nearly KSh 92 million in legal fees to recover claims worth only KSh 13.9 million.
• The cost of a multi-storey car park escalated by 337% from KSh 909 million to KSh 3.97 billion.
• The Auditor-General’s report also flagged a KSh 104 billion healthcare digitization contract as single-sourced with unclear deliverables.
• Private hospitals claim the government owes them KSh 43 billion in unpaid claims, with RUPHA representing over 700 facilities.
• Nominated MP, Bishop Kosgei, stated the Finance Director has let down the CEO by failing to cooperate with auditors.

Kenya's new Virtual Assets Service Providers (VASP) Bill, which formally recognizes cryptocurrencies and digital assets, is poised to integrate blockchain technology into the daily financial lives of Kenyans, according to Sam Kim, co-founder of blockchain startup GoChapaa. This legislation extends Kenya's digital finance legacy from M-Pesa to a structured framework for virtual assets, marking a significant step for the country and the continent.

• The VASP Bill brings crypto exchanges and service providers under the supervision of the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA).
• Kim predicts Kenyans will soon engage with blockchain technology without realizing it, powering faster payments, safer transactions, and smarter investments.
• This regulatory clarity is expected to reduce market uncertainty, foster innovation, and attract global partnerships and investment into Nairobi's "Silicon Savannah."