Govt Moves to Regulate Some Lenders Under Proposed Law
The framework, if adopted, would mark a shift in the regulation of the finance institutions, which have continued to fund projects that are usually considered too risky for commercial lenders...
✨ Key Highlights
The Kenyan government is proposing a new legal framework to regulate Development Finance Institutions (DFIs), aiming to enhance oversight and attract investment. This initiative emerged from discussions held on Wednesday, June 3, involving DFIs, financial regulators, and policymakers.
- The proposed framework seeks to strengthen governance, financial soundness, access to capital, and coordination within the DFI sector.
- Key stakeholders involved include the Kenya Development Corporation (KDC), financial sector regulators, and policymakers.
- Currently, DFIs operate without a unified regulatory framework, unlike commercial banks, and are established and controlled by the national government through individual acts or charters.
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Energy Ministry Withdraws KPLC Tariff Review Application - June 2026
The Ministry of Energy and Petroleum has withdrawn an application by Kenya Power and Lighting Company (KPLC) to review electricity tariffs, effectively halting a proposed increase in electricity costs. The decision was announced on Wednesday, June 3, with the ministry assuring consumers of stable power supply. Meanwhile, the Kenyan government is proposing a new legal framework to regulate Development Finance Institutions (DFIs), aiming to enhance oversight and attract investment. This initiative emerged from discussions involving DFIs, financial regulators, and policymakers. In corruption news, the Ethics and Anti-Corruption Commission (EACC) has arrested the Clerk of the Nyamira County Assembly over alleged corruption and suspected loss of public funds, while ten individuals and companies have been ordered to repay Sh51.5 million obtained through a fraud scheme in Kilifi County.
