CBK Proposes New Rules with Ksh 30M Penalty for Digital Payment Companies

The Central Bank of Kenya (CBK) and the National Treasury are proposing a significant overhaul of the nation's payment system with the draft National Payment System Bill, 2026. This new legislation aims to replace the 2011 Act and introduce stricter regulations for payment providers, fintechs, and digital wallets.

Bill proposes Sh250mn minimum capital for e-money issuers

A new bill in Kenya proposes a significant increase in the minimum capital required for electronic money issuers (EMIs) and other payment service providers.

DRC joins Pan-African payment system as Central Bank governors elect Interim chair

The Democratic Republic of Congo (DRC) has officially joined the Pan-African Payment and Settlement System (PAPSS), a significant move to boost intra-African trade and financial integration.

IMF chief says world economy faces multiple risks despite resilience

International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated the global economy faces significant risks, including stubborn inflation and rising debt servicing costs, despite proving more resilient than anticipated.

Ruto Pushes Banks to Cut Loan Rates as Interest Hits 14%

President William Ruto has urged commercial banks to reduce their loan interest rates from the current average of 14.39 per cent, arguing that credit remains too expensive for Kenyans and businesses.

President Ruto says CBK will get priority in purchasing locally mined and processed gold