The Central Bank of Kenya (CBK) has licensed an additional 32 Digital Credit Providers (DCPs), bringing the total number of approved lenders to 227 as it increases oversight of the sector.

• 32 additional digital lenders licensed.
• A total of 227 digital lenders are now approved by the CBK.
• The regulator began licensing DCPs due to concerns over predatory practices and has received over 800 applications since March 2022.

The Kenyan government has officially endorsed TouristTap, a new digital payment platform aimed at modernizing the tourism sector and improving revenue collection.

• The platform aims to address payment challenges across the entire tourism value chain, from accommodation to activities.
• Key figures involved include Tourism and Wildlife Cabinet Secretary Rebecca Miano and Craft Silicon Group CEO Kamal Budhabhatti.
• Developed by Craft Silicon in partnership with KCB Bank and Visa, TouristTap facilitates secure, cashless transactions, enhancing the visitor experience and supporting service providers.

Kenya's Department of Co-operative Development is facing criticism for its apparent lack of oversight in the significant financial troubles plaguing SIC Investment Co-operative, despite having a representative on its board.

• Potential loss of approximately Sh2 billion in members' money due to alleged fraudulent activities.
• Key organizations include SIC Investment Co-operative and the Department of Co-operative Development, led by Commissioner David Obonyo.
• The regulator claims ignorance of the issues, only aware of a board and CEO change, while members are unable to access their funds, and projects like the Miran Housing Project are delayed.