Kenya proposes up to $1.93m capital requirement for payment firms

Kenya is proposing new capital requirements of up to KES 250 million ($1.93 million) for payment companies, raising the cost of entry for fintechs seeking to compete in the country’s payments market.

Under the National Payment System Bill, 2026, the Central Bank of Kenya (CBK) is establishing mandatory minimum capital thresholds ranging from KES 5 million ($38,610) for basic data services to KES 250 million ($1.93 million) for electronic money issuers. Existing payment providers will have one year from the…