Kenya's central bank seeks powers to take over struggling fintechs

The Central Bank of Kenya has proposed the National Payment System Bill 2026, which would let the regulator intervene in failing payment providers, appoint a statutory manager and sell their business. The bill would replace the 2011 act and aims to protect customer funds before liquidation.

• CBK could appoint a manager and sell a provider's business before liquidation
• Powers of directors and shareholders would cease on the manager's appointment
• The bill would replace the National Payment System Act of 2011
• CBK previously revoked Mobile Pay's (Tangaza) licence in 2021