FinTech

Kenya Wan Give Central Bank Power to Take Over Troubled Fintech Companies, Sell Their Businesses

Kenya dey propose new law wey go allow im central bank take control of payment companies wey fail to meet their financial obligations, violate regulations, or threaten financial stability, with the aim of protecting customers and the wider financial system. The proposed law also plans to create a clearer registration and licensing framework for fintech startups, potentially opening more opportunities for new players beyond the banks and telecom companies wey currently dominate Kenya payment industry.