Kenya is implementing a new framework for virtual asset service providers (VASPs), marking a significant shift towards global standards and aiming for removal from the Financial Action Task Force (FATF) grey list.

• Over 6.1 million Kenyans held digital assets by 2024, with stablecoin transactions totaling $3.3 billion in the year to June 2024.
• The Virtual Asset Service Providers Act, signed into law by President William Ruto, establishes dual oversight by the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA).
• The new regulations introduce licensing, anti-money laundering (AML) obligations, and stringent capital requirements, with potential fines up to KSh 20 million for non-compliance.

Former Industrialisation Cabinet Secretary Adan Mohamed has been appointed the new Commissioner General of the Kenya Revenue Authority (KRA).

• His appointment is effective May 18, 2026, for a period of three years.
• The key individuals involved are Adan Mohamed and Treasury Cabinet Secretary John Mbadi.
• Adan Mohamed takes over from Humphrey Wattanga and steps into a role tasked with boosting domestic revenue collection amid challenging economic conditions.

Spearhead Africa Asset Management has launched Kenya’s first infrastructure fund on the Nairobi Securities Exchange (NSE), enhancing investment opportunities in the nation's capital markets.

• The Spearhead Africa Infrastructure Fund (SAIF) successfully raised Sh3.4 billion during its initial public offer.
• Key investors include the UK government's MOBILIST programme and CPF Group.
• This new fund introduces infrastructure debt as a tradable product, allowing local investors to finance infrastructure projects in Kenya shillings, thereby reducing foreign exchange risk.