Kenya’s fintech reforms promise clarity but could delay investment

Kenya is proposing approval requirements for significant investments in payment companies, potentially lengthening fundraising for startups as the central bank strengthens its oversight of the industry.

The draft National Payment System Bill, 2026 would require investors acquiring at least 10% of a licensed payment service provider or payment system operator to obtain written approval from the Central Bank of Kenya (CBK). Incoming significant shareholders would also undergo regulatory vetting, a standard process at other financial institutions, such as banks.

The…