Kenya wants to regulate FinTech

Patrick Njoroge, Governor at the Central Bank of Kenya, has indicated that Kenya should look into regulating FinTech especially in the microlending sector. This is because, as Njoroge elaborated, the microlending FinTech solutions have led to "predatory lending practices." “There’s an increase in let’s say financial-type…

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Central Bank of Kenya warns banks against dealing in cryptocurrencies

The Central Bank of Kenya (CBK) has warned against the use of cryptocurrencies in the eastern Afrikan country. The CBK issued a letter to banks and other financial institutions in Kenya warning them against accepting cryptocurrencies and being involved in transactions with entities related to cryptocurrencies such as cryptocurrency exchanges.…

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