Central Bank of Kenya

Total 4 Posts

Mobile money could get a second revolution in Kenya

The adoption of mobile money for small payments should be a game-changer in the long run. While mobile money is thriving in Kenya, it majorly works as a means of sending money, but not efficient for paying small amounts of money due to associated costs.

Kenya's payments silver bullet

We have all felt the immediate shock of key payment utilities going offline, whether as a consequence of ad-hoc system issues or scheduled maintenance. Here is a proposal on how they can be avoided.

Kenya wants to regulate FinTech

Patrick Njoroge, Governor at the Central Bank of Kenya, has indicated that Kenya should look into regulating FinTech especially in the microlending sector. This is because, as Njoroge elaborated, the microlending FinTech solutions have led to "predatory lending practices." β€œThere’s an increase in let’s say financial-type

Central Bank of Kenya warns banks against dealing in cryptocurrencies

The Central Bank of Kenya (CBK) has warned against the use of cryptocurrencies in the eastern Afrikan country. The CBK issued a letter to banks and other financial institutions in Kenya warning them against accepting cryptocurrencies and being involved in transactions with entities related to cryptocurrencies such as cryptocurrency exchanges.