Business & Economy3 stories
The Auditor General has flagged the National Social Security Fund (NSSF) over irregular payments of acting and special duty allowances exceeding Sh21.2 million. This was due to employees serving in acting capacities beyond the allowed six months without proper approval. In a separate directive, the Central Bank of Kenya (CBK) has mandated that all banks must achieve a minimum core capital of KSh 5 billion by December 2026, and KSh 10 billion by the end of 2029. This directive has caused unease among smaller Tier 3 banks. Additionally, Trade Cabinet Secretary Lee Kinyanjui is facing a lawsuit for allegedly failing to implement a part of the Finance Act 2025. The lawsuit concerns a provision that exempted unprocessed glass used by local manufacturers from excise duty.
