Safaricom secures insurance licence after a four-year wait
Safaricom secures insurance license from the Insurance Regulatory Authority. Launch of new insurance product Bima for M-Pesa users.
Kenya’s central bank reports that UBA has breached capital regulations
UBA Kenya breached capital requirements set by the Central Bank of Kenya. UBA's core capital-to-deposit ratio fell from 29.46% in 2022 to 7.92% in 2023.
Kenya’s central bank plans instant payment system across all banks and fintechs
Central Bank of Kenya is developing a new instant payment system called the Fast Payment System (FPS). FPS will allow instant transactions across all financial institutions, including banks and payment service providers.
Kenya Implements Real-Time Crypto Tax Monitoring with New System
KRA to implement a real-time tax system for cryptocurrency transactions. Kenya has approximately four million crypto users, ranking high in Africa for adoption.
Kenya to track crypto transactions real-time with new tax system
KRA plans to implement a real-time tax system for cryptocurrency transactions. Kenya has an estimated four million crypto users, one of the highest in Africa.
