Kenyan banks to lower interest rates following pressure from the Central Bank
CBK reduced the benchmark rate by 75 basis points to 11.75%. The gap between CBR and lending rates rose to a 31-month high.
Fintechs Face Delays in Kenyan Expansion Due to Lengthy Licensing Procedures
Fintech startups struggle to obtain operating licenses in Kenya. A Payment Service Provider (PSP) license can take up to two years due to approval delays.
Slow licencing process is a headache for fintechs expanding to Kenya
Fintech startups struggle to obtain operating licenses in Kenya. Payment service provider licenses can take up to two years due to approval delays.
