Hello and welcome to the Money Weekly Newsletter, where we are covering the looming fuel crisis, amid calls for a price hike.

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Fuel Shortage Hits Major Petrol Stations

Several Petrol stations across the country have reported a disruption of fuel supply amid accusations of hoarding by dealers.

Some of the shortages have been reported in Nairobi and Kiserian.

According to the fuel stations, the shortage has been occasioned by high demand among Kenyans, with some motorists fearing that fuel rationing may start in the coming days. 

However, the government has assured that there is a sufficient supply of petroleum products.

According to Energy CS Opiyo Wandayi, the Kenya Pipeline Company is holding 102 million litres of Petrol and 146 million litres of Diesel, which can last the country till April.

Meanwhile, fuel dealers have been threatened to stop supplying fuel to petrol stations, claiming that the current prices do not factor in the recent spike in oil prices that was occasioned by the Israel-Iran war.

The United Energy and Petroleum Association (UNEPA) want EPRA to increase fuel prices. 

UNEPA Chairperson Irene Kimathi noted that many dealers have been operating at a loss.

The association wants EPRA to suspend price controls to allow pump prices to reflect the true market cost.

In its March to April review, EPRA maintained fuel prices at Ksh178.28 for Super Petrol, Ksh166.54 for Diesel, and Ksh152.78 for Kerosene. 

Given the disruptions occasioned by the conflict in the Gulf, India and Belgium have emerged as key alternative fuel sources for Kenya as suppliers adjust logistics to maintain steady petroleum imports.

Under a government-to-government (G-2-G) deal signed in March 2023, Kenya imports petroleum products from Saudi Aramco, Abu Dhabi National Oil Company (Adnoc), and Emirates National Oil Company (ENOC).

Fuel shipments are now being sourced from Antwerp-Bruges in Belgium, Sikka in India, and Jizan along the Red Sea to avoid the Strait of Hormuz, which has been affected by rising regional tensions.

Here is a quick recap of the top news stories for the week:

• The government is set to allow Kenyans saving for affordable houses under the Boma Yangu programme to withdraw their contributions if they opt out. Housing PS Charles Hinga said the government was working with Safaricom to have a system that will allow those saving to withdraw their funds. At present, Kenyans enrolled in the programme are unable to withdraw the money they have been saving towards home ownership, raising concerns among contributors. Under the Boma Yangu platform, individuals can save from as little as Ksh200 towards a housing deposit for a unit of their choice.

• The Communications Authority of Kenya has published rules that will require all mobile phones sold or imported into the country to support USB Type-C charging. The CA clarified that it has not banned the use of existing phones that do not have Type-C chargers. The Authority stressed that the notice does not require the disposal of existing devices. 

• KRA is proposing to make VAT registration mandatory for all businesses by removing the current Ksh5 million annual turnover threshold. If adopted, even small traders such as shops, wines and spirits outlets, and service providers will be required to charge 16% VAT on applicable goods and services and remit it monthly.

• 8 towns in western Kenya will get new SGR stations as the government extends the SGR line from Kisumu to Malaba. The towns include Kisian West, Ramula, Yala, Musanda, Mumias, Manyulia, and Amukura, Malaba. Yala and Mumias will be the main stations in the line whose construction was launched by President William Ruto and his Ugandan counterpart, Yoweri Museveni. The Kisumu- Malaba line will cross Kisumu, Siaya, Vihiga, Kakamega, and Busia Counties.

• Safaricom has rolled out a new privacy feature that hides the sender’s phone number in M-Pesa transactions. Recipients will only see the sender’s name. If they need the phone number, they must submit a request within 24 hours. The sender then receives a notification to approve or decline sharing their full name and phone number. If approved, the recipient gets the details via SMS. If declined or ignored, the information remains private.

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All Phones Sold in Kenya Must Use Type C Charger - New Govt Rules

The Communications Authority of Kenya has published new guidelines that will require all phones, including kabambes and tablets, to have Type C charging ports.

Additionally, all charging cables will be required to be detachable from the adapters, and the adapters should have three pins. It’s a big shift that could change how Kenyans charge their devices going forward.

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𝐀𝐥𝐥 𝐏𝐡𝐨𝐧𝐞𝐬 𝐒𝐨𝐥𝐝 𝐢𝐧 𝐊𝐞𝐧𝐲𝐚 𝐌𝐮𝐬𝐭 𝐔𝐬𝐞 𝐓𝐲𝐩𝐞 𝐂 𝐂𝐡𝐚𝐫𝐠𝐞𝐫 - 𝐍𝐞𝐰 𝐆𝐨𝐯𝐭 𝐑𝐮𝐥𝐞𝐬 The Communication Authoring of Kenya has published new guidelines that w... See more

That’s a wrap for this week’s Money Weekly!

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