CBK Plans New System to Make Bank and Mobile Transfers Cheaper

The Central Bank of Kenya (CBK) is planning a national payment switch to significantly lower the cost of money transfers between banks, mobile money platforms, and other payment providers. This initiative is part of a proposed overhaul aimed at creating a more integrated and cost-effective payment system by August 2026.

CBK licenses 29 digital lenders, raising regulated providers to 281

CBK seeks to oversee transfer of business between subsidiaries in a banking group

CBK Gives New Update on Digital Lenders

The Central Bank of Kenya (CBK) has licensed an additional 29 digital credit providers (DCPs), bringing the total number of regulated lenders to 281. This move aims to ensure compliance and protect consumers in the digital lending sector.

Why readiness to receive funding is the biggest hurdle for SMEs

While access to funding is often cited as the primary challenge for Kenyan SMEs, readiness to receive and manage that funding is emerging as the biggest hurdle.

Ex-CBK Governor Njoroge wants mobile money firms to share trust fund income

Former Central Bank of Kenya (CBK) Governor Patrick Njoroge is proposing that mobile money firms share income generated from customer funds held in trust with users.