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The Central Bank of Kenya has significantly expanded its oversight of digital lenders by licensing an additional 29 providers, bringing the total number of regulated digital lenders in Kenya to 281. Absa Bank is embarking on a significant digital transformation initiative, aiming to revolutionize traditional banking services from within the industry. Additionally, the Central Bank of Kenya is proposing new regulations to oversee business transfers between subsidiaries within a banking group, a move aimed at enhancing financial stability and consumer protection.
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