High Court Intervenes in Mobile Money Debate: Bank-to-Mobile Charges Suspended Pending Determination of Suit
January 13, 2023
Yesterday, the High Court of Kenya issued an interim order suspending the reintroduction of bank-to-mobile money charges by Safaricom and the Central Bank of Kenya (CBK). The order was issued in response to a petition…
Central Bank of Kenya reintroduces transaction charges for mobile money and bank transfers
December 6, 2022
Back in 2020 as the COVID-19 pandemic was spreading, the Central Bank waived the transaction fees between mobile money wallets and banks. The fees for mobile money transactions below Ksh 1,000 were also waived. This…
Ruto: 4 Million Kenyans blacklisted by CRBs to be ejected from the negative listing by November
September 28, 2022
This afternoon, Kenyan President, William Ruto, called for the restructuring of the current CRB profile listing mechanism. The President said the current system tends to lock out some borrowers, limiting access to credit for a…
These are the 10 Mobile Loan Lenders Approved by the Central Bank of Kenya
September 19, 2022
The Central Bank of Kenya (CBK) has published a list of the Digital Lenders that have been approved so far. According to the CBK, there were 288 applications filed since March 2022 but so far…
Central Bank of Kenya grants license to DPO Group to operate as a Payment Service Provider
August 29, 2022
African digital payments provider, DPO Group Kenya, has received official approval from the Central Bank of Kenya to operate as a Payment Service Provider (PSP) in the country. The National Payment System Act requires all…
CBK Blocked the Launch of Faraja, the Safaricom-backed zero-interest credit service
July 28, 2022
Earlier this month, EDOMx Ltd In partnership with Safaricom and Equity Bank had plans to launch Faraja, a zero-interest credit service that would allow users to to shop for goods of up to Ksh 100,000…