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Originally published by Capital Business
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business
March 3, 2026
2h ago

Treasury proposes tougher rules for digital lenders

Treasury proposes tougher rules for digital lenders

Treasury Cabinet Secretary John Mbadi told the Senate that the new framework aims to strengthen oversight of digital lenders while easing requirements for smaller, lower-risk operators. Kenya breaking news | Kenya news today |..

✨ Key Highlights

The National Treasury is proposing stricter regulations for digital lenders in Kenya through the Business Law (Amendment) Act, 2024. These rules aim to enhance oversight by the Central Bank of Kenya while introducing a tiered licensing system for non-deposit-taking credit providers.

  • The top 10 digital lenders control 72.6 percent of the market, holding Sh45.5 billion out of Sh76.8 billion in loans.
  • Treasury Cabinet Secretary John Mbadi is spearheading the proposals to improve consumer protection and market stability.
  • Penalties for customer harassment will significantly increase, potentially rising to Sh2 million from the current Sh500,000.

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