Nairobi, Kenya – The Central Bank of Kenya (CBK) has issued a stern warning against the growing trend of using banknotes to create floral-style bouquets, declaring the practice illegal and punishable by up to seven years in prison. The trend, popularised by social media influencers, involves rolling, pinning, and gluing…
Nairobi, Kenya – Global credit rating agency Moody’s has upgraded Kenya’s credit rating from Caa1 to B3, changing the outlook to stable. The move offers some relief after years of economic strain and mounting debt pressure, signalling that the country’s near-term risk of default has reduced. Why the Upgrade Matters…
Paramount Bank has surpassed the Central Bank of Kenya’s (CBK) minimum core capital threshold of Ksh.3 billion well before the December 2025 deadline, marking a key achievement in its growth and regulatory compliance journey. The milestone followed a successful rights issue that raised Ksh.332 million from existing shareholders, lifting the…
The National Treasury is preparing to issue detailed guidelines for implementing the newly enacted Virtual Assets Service Providers Act, 2025 a law designed to curb money laundering and bring regulatory oversight to digital assets, including cryptocurrencies. The Act, which took effect on November 4, 2025, establishes Kenya’s first comprehensive legal…
Kenyan money remittance start-up Bonto Kenya has officially closed operations, less than three years after its launch and only eight months after obtaining a licence from the Central Bank of Kenya (CBK). Founded in December 2022 by Cambridge and Harvard graduate Yoann Copreaux, the fintech cited unsustainable foreign exchange margins,…