A former Kilifi Principal Land Registrar has been ordered by the High Court in Nairobi to surrender assets totaling Ksh426.8 million to the government due to unexplained wealth. The Ethics and Anti-Corruption Commission (EACC) successfully argued that the official, his wife, and their associated companies could not account for the significant difference between their assets and legitimate income.

• The forfeited assets include Ksh233.58 million in bank and mobile money accounts, 11 properties valued at Ksh177.11 million, and vehicles worth nearly Ksh11.9 million.
• The key parties involved are the former Kilifi Principal Land Registrar, his wife, their companies, and the Ethics and Anti-Corruption Commission (EACC).
• Investigations covered the period between January 2013 and March 2024, during which the total identified assets and transactions amounted to Ksh771.89 million.

The Central Bank of Kenya (CBK) is proposing new rules that would require Domestic Systemically Important Banks (D-SIBs) to hold higher capital buffers, potentially leading to increased loan costs.

• The Kenya Bankers Association (KBA) warns that these additional capital and liquidity requirements could reduce the funds available for lending.
• KBA CEO Raymond Molenje expressed concern over the timing of the proposed rules, suggesting they should wait until banks meet the existing Ksh10 billion minimum core capital requirement.
• Despite concerns, the CBK maintains the banking sector is stable and urges banks to increase lending to MSMEs.