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Nairobi · KES
Kenya
East Africa's largest and most diversified financial market, home to a deep banking sector, the region's leading securities exchange and the world's best-known mobile-money ecosystem. Supervisory focus is on bank recapitalisation, AML/CFT effectiveness, credit pricing and data protection.
Kenya by the numbers.
Who supervises what.
Central Bank of Kenya
Capital Markets Authority
Insurance Regulatory Authority
Retirement Benefits Authority
SACCO Societies Regulatory Authority
Financial Reporting Centre
Office of the Data Protection Commissioner
What's on the agenda.
Bank recapitalisation
AML/CFT action plan
Risk-based credit pricing
Virtual assets
Data protection enforcement
Recent change in Kenya.
Virtual Asset Service Providers Act, 2025
Introduces a licensing and supervisory regime for virtual asset service providers, including AML/CFT obligations such as the travel rule. Banks and payment providers dealing with VASPs need updated risk assessments.
Risk-based credit pricing anchored on the KESONIA benchmark
The revised risk-based credit pricing model requires variable-rate loans to be priced off the Kenya Shilling Overnight Interest Average (KESONIA) plus a disclosed premium, with transition timelines for existing facilities and new disclosure obligations.
Minimum core capital for banks rising to KSh 10 billion by 2029
Amendments to the Banking Act raise the minimum core capital for commercial banks in phases from KSh 1 billion to KSh 10 billion by 2029. Smaller banks face capital raises, mergers or new strategic investors, and boards need a credible, phased capital plan.
FATF increased monitoring — national AML/CFT action plan
Kenya was placed under FATF increased monitoring in February 2024. Institutions should expect intensified supervisory focus on beneficial ownership, risk-based supervision and the quality of suspicious transaction reporting while the action plan is implemented.
Data-controller registration and active enforcement
Data controllers and processors above prescribed thresholds must register with the ODPC. Enforcement notices and penalties have been issued across sectors, with digital lenders a recurring focus.
