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HomeDaily NewsWednesday, November 12, 2025State to Earn Sh607M from Kakamega Gold & Receive Sh19B for Roads Amid Agency Scrutiny - November 2025
Business & Economy5 stories from 2 sources

State to Earn Sh607M from Kakamega Gold & Receive Sh19B for Roads Amid Agency Scrutiny - November 2025

The Kenyan government is poised to earn Sh607.2 million in royalties and an additional Sh193.8 million in Mineral Development Levy after UK-based Shanta Gold discovered gold deposits valued at an estimated Sh680 billion in Kakamega County. In a separate financial development, the United Bank for Africa (UBA) Group has committed Sh19 billion ($150 million) to Kenya’s Road Infrastructure Securitisation Programme. These financial inflows occur as a Public Service Commission (PSC) report revealed over two-thirds of Kenyan government entities failed to submit mandatory self-assessment reports on performance and governance. Relatedly, Senators are questioning the State's plan to commercialise the National Youth Service. Meanwhile, the National Environment Management Authority (NEMA) has canceled a public participation hearing for the proposed Isulu–Bushiangala Gold Mining Project in Kakamega County.

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Wednesday 4:00 PMCapital Business

NEMA cancels Kakamega Gold Mining project public hearing

NEMA cancels Kakamega Gold Mining project public hearing

The National Environment Management Authority (NEMA) has canceled a public participation hearing for the proposed Isulu–Bushiangala Gold Mining Project in Kakamega County, citing "unavoidable circumstances" that would hinder fair and inclusive participation.

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Key Highlights

The National Environment Management Authority (NEMA) has canceled a public participation hearing for the proposed Isulu–Bushiangala Gold Mining Project in Kakamega County, citing "unavoidable circumstances" that would hinder fair and inclusive participation.

  • The gold resource at the Isulu and Bushiangala sites is estimated at 1.3 million ounces, with an average of 11.43 grams per tonne (g/t).
  • The project, backed by UK-based Shanta Gold, has an estimated capital investment of Sh27 billion and a projected lifespan of eight years.
  • The Kenyan government is expected to earn Sh607.2 million in royalties and an additional Sh193.8 million in Mineral Development Levy.
Wednesday 11:30 AMCapital BusinessFirst

State to earn Sh607mn in royalties after UK firm finds Sh680bn gold in Kakamega

State to earn Sh607mn in royalties after UK firm finds Sh680bn gold in Kakamega

The Kenyan government is poised to earn Sh607.2 million in royalties and an additional Sh193.8 million in Mineral Development Levy after UK-based Shanta Gold discovered gold deposits valued at an estimated Sh680 billion in Kakamega County.

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Key Highlights

The Kenyan government is poised to earn Sh607.2 million in royalties and an additional Sh193.8 million in Mineral Development Levy after UK-based Shanta Gold discovered gold deposits valued at an estimated Sh680 billion in Kakamega County.

  • The combined gold resource at the Isulu and Bushiangala sites is 1.3 million ounces, with an average grade of 11.43 grams per tonne (g/t).
  • The developer, Shanta Gold, submitted an Environmental Impact Assessment (EIA) report to the National Environment Management Authority (NEMA).
  • The project, located in Ikolomani Constituency, will entail the resettlement and compensation of some residents in Idakho North and Idakho Central wards, adhering to both Kenyan land laws and the IFC Performance Standard 5 on Land Acquisition and Involuntary Resettlement.
Wednesday 12:01 PMCapital Business

UBA commits Sh19bn to Kenya’s Road Securitisation Programme

UBA commits Sh19bn to Kenya’s Road Securitisation Programme

United Bank for Africa (UBA) Group has committed Sh19 billion ($150 million) to Kenya’s Road Infrastructure Securitisation Programme, a move lauded by President William Ruto as a vote of confidence in Kenya's growth agenda.

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Key Highlights

United Bank for Africa (UBA) Group has committed Sh19 billion ($150 million) to Kenya’s Road Infrastructure Securitisation Programme, a move lauded by President William Ruto as a vote of confidence in Kenya's growth agenda.

  • The commitment totals Sh19 billion ($150 million), making up a significant portion of Kenya's $1 billion road securitisation program.
  • The agreement was made between President William Ruto and UBA Group Chairman Tony O. Elumelu.
  • UBA Group, operating in 20 African countries, aims to expand investments in Kenya’s energy, real estate, hospitality, and banking sectors, in addition to supporting transformative national projects like railway modernization and airport expansion.
Wednesday 1:50 PMCapital Business

Two-thirds of State Agencies fail to meet PSC governance, service standards

Two-thirds of State Agencies fail to meet PSC governance, service standards

Over two-thirds of Kenyan government entities and executive agencies have failed to submit mandatory self-assessment reports on their performance, governance, and service delivery, according to a Public Service Commission (PSC) report. This widespread non-compliance highlights significant challenges in accountability and transparency within the public sector.

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Key Highlights

Over two-thirds of Kenyan government entities and executive agencies have failed to submit mandatory self-assessment reports on their performance, governance, and service delivery, according to a Public Service Commission (PSC) report. This widespread non-compliance highlights significant challenges in accountability and transparency within the public sector.

  • Out of 168 agencies, only 56 (33.3 percent) complied with the directive issued on October 30, 2025.
  • Notable non-compliant institutions include Kenya Power, KenGen, and Kenya Railways Corporation.
  • The Chief of Staff and Head of the Public Service has scheduled a consultative meeting for Thursday, instructing Principal Secretaries to ensure attendance by Board Chairpersons and Chief Executive Officers of the defaulting agencies to address the issue.
Wednesday 3:29 PMNation Business

Senators query State plan to commercialise NYS

Senators query State plan to commercialise NYS
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