Govt Introduces Car Importation Fees as Ksh468B Nairobi-Mombasa Highway Upgrade Stalls

Hello and welcome to the Money Weekly Newsletter, where we reveal why the Ksh468 billion plan to build the Nairobi-Mombasa Expressway was rejected.

But first, a word from our sponsoring partner, Umba Microfinance Bank.

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The Nairobi-Mombasa Expressway project has hit a roadblock.

The Public-Private Partnerships (PPP) Committee on Friday rejected the ambitious Nairobi-Mombasa Expressway project, which is managed by Usahihi Express.

The proposed project is a 419-kilometre, four-lane highway connecting Nairobi to Mombasa, valued at Ksh468 billion. It was initiated by US-based Everstrong Capital and received approval in December 2023 to proceed to the Project Development/Feasibility Study stage.

The feasibility study was recently submitted, but the committee found that the report did not meet the required standards and should be abandoned.

“It was determined that the PDR did not meet the relevant criteria and should be abandoned in accordance with Section 43(11)(c) of the PPP Act,” the committee directed.

Yes, but...
The parties behind the study may revise and resubmit it for consideration.

“The proposal may, however, be resubmitted to the Committee for a fresh determination in line with Section 43(12) of the PPP Act, 2021,” the committee explained.

Catch Up Quick: In May, Money254 reported that the expressway would charge between Ksh12 and Ksh13 per kilometre. Construction was estimated to begin in 2026. Once complete, it would feature seven toll stations and amenities such as electric vehicle charging stations along the route.

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

New Fees for Imports

• On Tuesday, the Kenya Bureau of Standards (KEBS) announced that importers will be required to validate documents for used vehicles imported into Kenya. KEBS has appointed Quality Inspection Services Inc. Japan (QISJ) to carry out the validation exercise at a fee of Ksh12,000 per vehicle. Read more here for full coverage.

• The Kenya Revenue Authority (KRA), on the other hand, has directed that all goods imported into Kenya must now be accompanied by a Certificate of Origin (CoO) issued by a competent authority from the exporting country. This requirement applies to all goods.

Catch Up on More News

WEEKLY MONEY TIPS

MONEY254 #MONEYTOK

How to Transition From Red Driving License to NTSA's Smart Driving License and Charges Involved

All drivers in Kenya will soon be required to replace their red booklet licenses with the new smart driving license, as announced by NTSA in 2024. The smart license will support instant fines for traffic offenses.

To get yours, apply through the eCitizen NTSA portal, pay Ksh3,050, and book a biometrics appointment at your nearest center. Processing takes five working days. Watch the full video for the step-by-step guide.

@money254hq

𝐇𝐨𝐰 𝐭𝐨 𝐓𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧 𝐅𝐫𝐨𝐦 𝐑𝐞𝐝 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐋𝐢𝐜𝐞𝐧𝐬𝐞 𝐭𝐨 𝐍𝐓𝐒𝐀'𝐬 𝐒𝐦𝐚𝐫𝐭 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐋𝐢𝐜𝐞𝐧𝐬𝐞 𝐚𝐧𝐝 𝐂𝐡𝐚𝐫𝐠𝐞𝐬 𝐈𝐧𝐯𝐨𝐥𝐯𝐞𝐝 All drivers in Kenya will soon be required... See more

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

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