Tag: cbk
High Court Gives M-PESA, Banks Go Ahead to Re-introduce Transfer Fees
The High Court in Kenya has decided against continuing a previous order that prevented banks and mobile money providers from imposing fees for money...
State of Digital Lending Apps in Kenya in 2023
Digital lenders have been in business for an extended period, but their operations have since been halted by the Central Bank of Kenya and...
Charges for Sending Money from Bank to M-PESA Effective 2023
A couple of days ago, we learned that the CBK was in the process of reinstating bank to mobile money charges, and vice versa.
The...
CBK Reintroduces Bank to Mobile Money Wallets Charges Effective from January 2023
At the start of the pandemic back in March 2022, the CBK announced that it had waived fees for sending money between mobile money...
CBK Gives Digital Borrowers Six Months to Repair Their Credit Standing
At the start of the new Kenyan administration, President Ruto announced that he would see that people who have been listed by the CRB...
Does Safaricom Size Makes Case for Parallel Innovation?
By John Kamwengu
As an ICT pundit, I must admit I was caught off guard when I first heard of Kenya’s Central Bank Digital Currency...
CBK Freezes All Online Lenders Without Operating Licenses
Two things have happened today: the CBK has announced that only 10 digital lenders have been licensed to run their operations in Kenya. Secondly,...
Co-Operative Bank Axes M-PESA to Bank Charges Following Public Outcry
During the start of the pandemic, the CBK directed financial institutions to adopt some changes that were meant to shield the ordinary Kenyan from...
CBK Calls for Public Participation On Central Bank Digital Currency
The Central Bank of Kenya (CBK) has issued a discussion paper about the Central Bank Digital Currency (CBDC).
CBDCs can be seen as a digital...
Banks Lobby CBK to Reintroduce Bank to Mobile Money Transfer Fees in 2022
It is possible that sometime in 2022, customers will be forced to pay transaction fees when moving money from their bank accounts to mobile...
Digital Lenders Finally Gagged from Threatening Customers in New CBK Regulations
As we had reported before, the CBK Amendment Bill, 2021 has since been signed into law by the President of Kenya. This means that...
CBK Directive on CRB Listing Has Lost 4 Million Customers for Online Lenders
Digital lenders have offered their services to Kenyans for a long time without any kind of regulation from the CBK or key parties such...
One in Ten Transactions in the World On Digital Payments Is Done by a Kenyan
C-level executives, leading industry experts, policymakers, and government officials met at Huawei’s 2021 East Africa BFSI Summit to discuss the current challenges, business opportunities...
Fuliza is Probably Safaricom’s Latest Success Story as Kenyans Borrow KES 1.2 Billion Daily
Fuliza, the mobile-money overdraft facility by Safaricom has gained quite the traction since its introduction to Mpesa services back in 2019.
On the first week...
CBK Bill Highlights Some Digital Lenders Could Be Laundering Money
We are hoping that soon, predatory digital lending apps will be a thing of the past if the proposed CBK (Amendment) Bill, 2021 will...
CBK Publishes Draft National Payment System Strategy for Public Participation
The Central Bank of Kenya, CBK, has revealed that it has been working on the National Payments System (NPS) Vision Strategy.
CBK has, as of...
CBK Stops Free Under KES 1000 Mobile Money Transfers
The COVID-19 pandemic saw the government, among other Kenya financial institutions introduce measures to cushion Kenyans from the financial pangs of the pandemic.
The...
Tracking Digital Lending Regulation as Proposed Framework Goes Through Public Scrutiny
The journey to regulating the digital mobile space by the VBK started a long time ago.
Precisely, we can point out 2018 as the year...
Safaricom Wants to Cap KES 1000 Free M-PESA Transfers to 5 Attempts But Loses Hearing
The Coronavirus pandemic has brought with it vast financial constraints for Kenyans and companies. To this end, the Central Bank of Kenya made a...
Central Bank of Kenya Extends Mobile Money Measures Enforced Due to COVID-19
The Central Bank of Kenya has today announced that they will extend the measures they put on mobile money transactions that they announced back...
Central Bank of Kenya Cracks Whip on Unregulated Digital Lenders By Denying Them CRB Access
Today, the Central Bank of Kenya has announced that they have terminated access to the credit reference bureaus (CRBs) to rogue mobile money lenders.
"With...
CBK Asks Banks to Extend Repayment Period of Loans Up to a Year Following the COVID-19 Menace
The government of Kenya, among other key organizations in the state, has been at the forefront in shielding locals from the adverse effects of...
Central Bank of Kenya Allows Safaricom to Double MPESA Transaction Limits
Today, Safaricom has announced that they have waived MPESA fees for person to person transactions below Kshs 1000 due to the coronavirus pandemic.
This was...
Central Bank of Kenya and National Treasury Working to Tame Predatory Lending Apps
Smartphone adoption and MPESA have created a new way for digital shylocks to lend people money. This has led to the ballooning of loan...
Digital Lenders to Cut Access to Loans to Customers with Multiple Online Credit Apps
The mobile lending space in Kenya has grown significantly. Every other month or week, a new mobile loan app finds its way into the...
CBK and Kenya Bankers Association Issue Tougher Regulations for New Currency Exchange Exercise
Over the course of the week, several inputs and insights have been explored regarding the release of new local currency that should come in...
Kenya Banking Charter Proposes Tough Regulations for Online Lenders
The growth of online mobile lenders is unique to Kenya for one primary reasons: mobile money services. Mobile loan apps have made a killing...
Kenya Government and CBK Launch SME Loan Product with Five Banks
Access to credit services, especially from established and traditional financial organizations has been a challenge for a lot of informal or growing businesses. It...
Fuliza, Safaricom’s M-Pesa Loan Facility Goes Live After CBK Approval
At the beginning of the month, Safaricom announced Fuliza, an overdraft facility on M-Pesa that would give M-Pesa customers access to an overdraw on their account...
CBK to Initiate Tougher Rules On a Mostly Unregulated Digital Lending Platform
A couple of days ago, I was having a chat with a friend about the number of online lenders that have come up after...
The CBK Distances itself from Any Losses Incurred by Virtual Currency Investors
The last couple of months has seen the rise, and depending on who you ask, a marginal drop of digital currencies. This development is...
The Central Bank of Kenya (CBK) Issues Draft Guidance On Cyber Risks
The Central Bank of Kenya (CBK) has released a draft titled ‘Guidance Note on Cyber Risk’. The draft is issued under Section 33(4) of...
Opinion: Why Kenya Should Embrace Virtual Currencies
It is rather regrettable, that the man we have at the helm of Kenya’s Central Bank, is of the opinion that Kenyans, and broadly...
Safaricom: Here’s Why We Sent SMS Broadcast from Deposit Protection Fund Board
Safaricom customers were the receivers of DPFB SMS's recently. The DPFB is an organization under the Central Bank of Kenya. Points clarifying the SMS...
