The Central Bank of Kenya (CBK) is introducing new capital and risk rules for banks deemed critical to the nation's financial stability.

• Banks identified as Domestic Systemically Important Banks (D-SIBs) will face higher capital requirements, ranging from an additional 0.5% to 2.5% of risk-weighted assets.
• The CBK aims to enhance the resilience of these major banks and limit the impact of systemic shocks.
• Designated banks will also be subject to more intensive supervision, quarterly stress tests, and must prepare recovery and resolution plans.

The Kenya Revenue Authority (KRA) has commenced the implementation of a directive by President William Ruto to lower the customs clearance threshold for general consolidated cargo.

• The threshold has been reduced from Ksh3.2 million to Ksh2 million.
• The KRA engaged with cargo consolidators to outline the implementation plan and establish a technical committee.
• A comprehensive tax education program will be rolled out for cargo consolidators and small traders to enhance compliance.

The Kenya Revenue Authority (KRA) is transitioning to a new system for electronic cargo tracking seals, moving from government-owned seals to a Multi-Vendor, User-Owned Seals model.

• The new system requires businesses to obtain electronic seals from 15 approved private vendors.
• This change is being implemented under the Regional Electronic Cargo Tracking System (RECTS).
• The transition is scheduled to be completed by October 26, aiming to improve service delivery and ease congestion at the Port of Mombasa.