Kenya’s central bank seeks powers to take over struggling fintechs
Central Bank of Kenya (CBK) is seeking powers to take over struggling payment companies and sell their businesses to protect customer money.
Via TechCabal
Kenya’s central bank is seeking powers to take over struggling payment companies and sell their businesses, expanding the regulator’s role in protecting customer money when providers run into trouble.
The draft National Payment System Bill, 2026, would allow the Central Bank of Kenya (CBK) to intervene when a provider fails to meet its obligations to customers or other financial institutions, breaches regulatory requirements, or threatens financial stability.
The measures could put CBK at the centre of resolving failures in an…
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