The Central Bank of Kenya (CBK) will start issuing licenses to new banks again from July 1, 2025. This move ends a ban that had been in place since November 17, 2015.
CBK paused new bank licenses in 2015 to fix governance, management, and operational problems in the banking sector. The goal was to make the industry more stable and trustworthy.
In a press statement, CBK said Kenya has made major progress in banking regulations over the past nine years. Several banks have merged, and both local and foreign investors have entered the market. These changes helped strengthen the industry.
CBK also pointed to the new Business Laws (Amendment) Act, 2024, which raised the minimum core capital requirement for commercial banks to Ksh10 billion. This change will help banks handle risks and support Kenya’s development goals.
As the moratorium ends, new banks must prove they can meet the Ksh10 billion minimum capital requirement. CBK believes this will lead to stronger banks that can better serve the public.
According to the statement, more banks mean better access to banking services for Kenyans. Stronger banks will also be able to fund large development projects and manage global and local economic risks.
In a related move, CBK’s Monetary Policy Committee (MPC) announced a cut in the base lending rate. The rate dropped from 10.75% to 10.00%, as stated in the MPC report released on April 8, 2025.
This combination of stronger regulations and lower interest rates is expected to boost Kenya’s financial sector and support economic growth.
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The Central Bank of Kenya (CBK) will start issuing licenses to new banks again from July 1, 2025. This move ends a ban that had been in place since November 17, 2015. CBK paused new bank licenses in 2015 to fix governance, management, and operational problems in the banking sector. The goal was to make […]
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TikTok has launched a new feature called Footnotes to help users better understand the videos they watch. The company is testing the feature in the United States. With Footnotes, users can now add helpful information to videos. TikTok says this will give people more context, especially when content includes complex topics or current events. TikTok […]
At the GITEX Africa 2025 summit, Nigeria’s tech policy chief, Kashifu Inuwa, took the spotlight, urging the global tech ecosystem to keep AI development grounded in human values. Representing the National Information Technology Development Agency (NITDA), Inuwa joined global industry players to unpack how artificial intelligence is reshaping businesses across the world. During a panel […]
The West African Examinations Council (WAEC) has introduced the first computer-based WASSCE for school candidates in Nigeria. WAEC announced the major shift during a press briefing at its national office in Yaba, Lagos, on Thursday. Dr. Amos Dangut, Head of WAEC Nigeria, said the council is fully prepared to conduct the 2025 exam using digital […]
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The Central Bank of Kenya (CBK) will start issuing licenses to new banks again from July 1, 2025. This move ends a ban that had been in place since November 17, 2015. CBK paused new bank licenses in 2015 to fix governance, management, and operational problems in the banking sector. The goal was to make […]
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