Sasra has appointed David Sandagi as its new Chief Executive Officer, taking over from Peter Njuguna.

• The appointment comes amid significant troubles in the Sacco sector, following the collapse of the Kenya Union of Savings and Credit Co-operatives, which resulted in an estimated loss of Sh13.3 billion.
• Key organizations involved include the Sacco Societies Regulatory Authority (Sasra) and the Ministry of Cooperatives.
• Sasra has imposed restrictions on several deposit-taking SACCOs, including Dumisha SACCO and Bi-High SACCO, preventing them from receiving new member deposits as part of intensified oversight.

Convicted cryptocurrency magnate Sam Bankman-Fried, currently serving a 25-year sentence for fraud, has reportedly applied for a pardon from President Donald Trump.

• Bankman-Fried was convicted on multiple federal charges related to his former companies, FTX and Alameda Research.
• The application is for a "pardon after completion of sentence" filed with the Department of Justice.
• President Trump previously indicated he would not pardon Bankman-Fried earlier this year.

Minority investors linked to businessman Vimal Shah and former CBK Governor Nahashon Nyagah are set to lose their indirect stake in Tatu City after the UK's Judicial Committee of the Privy Council dismissed an appeal related to the liquidation of Manhattan Coffee Investment Holdings.

• A nearly 20-year ownership dispute centered around a 5,000-acre mixed-use real estate development.
• The ruling effectively clears the path for the disposal of shares in special purpose vehicles that indirectly hold interests in Tatu City.
• Foreign investors had secured a $15 million award against Kenyan-linked investors in 2018 for detrimental conduct.