Central Bank Revokes License of Remittance Provider
The Remittance provider is banned from carrying out its services..
✨ Key Highlights
The Central Bank of Kenya (CBK) has officially revoked the license of a money remittance provider through a gazette notice published on September 19, banning it from operating in the sector. This action was taken pursuant to Regulation 44 (2) of the Money Remittance Regulations, 2013, which governs the suspension and revocation of such licenses.
- The remittance company had already ceased transactions on August 15, stating it was winding up operations due to unsustainable market conditions.
- The company attributed its decision to operational and compliance costs and stiff competition from banks and global fintechs' mobile money services.
- Money Remittance Providers (MRPs) are responsible for acquiring and transferring funds on behalf of customers, requiring strict standards of transparency, accountability, and regulatory compliance.
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Government Bodies Issue Directives on Remittances, School Meals, and Waste Management - September 2025
The Central Bank of Kenya (CBK) revoked the license of a money remittance provider through a gazette notice published on September 19, banning it from the sector. This action was taken under Regulation 44 (2) of the Money Remittance Regulations, 2013. In a separate action, the Kenyan government halted food programs in 17 schools in Kilifi after a video showed pupils allegedly reciting Hindu prayers to receive meals from a donor. Kilifi County Commissioner Josphat Kibiwott ordered an immediate suspension and investigation. Additionally, the National Environment Management Authority (NEMA) gave a 21-day directive to all County Governments to reorganize dump sites and implement waste separation at the source, as required by the Sustainable Waste Management Act.
