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March 11, 2026
8h ago

CBK Announces New Deal to Boost East Africa Cross-Border Payments

CBK Announces New Deal to Boost East Africa Cross-Border Payments

Kenya is ranked 6th among African economies by GDP. Removing trade barriers affecting various trade tenets on the continent is a game-changing move for sustainability...

✨ Key Highlights

The Central Bank of Kenya (CBK) and the National Bank of Rwanda (NBR) have signed a Memorandum of Understanding (MOU) to create a shared licence passporting framework for cross-border payment service providers (PSPs).

  • This agreement aims to reduce regulatory hurdles, costs, and paperwork for PSPs expanding services between Kenya and Rwanda.
  • Key organizations involved are the Central Bank of Kenya (CBK) and the National Bank of Rwanda (NBR).
  • The framework is anchored on the East Africa Community Cross-Border Payment System Masterplan, promoting a more integrated regional payments landscape.

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