Mobile money Stories
Mobile lending apps lead in most markets, especially Uganda (37 per cent), Ghana (33 per cent), Kenya (30 per cent), Tanzania (27 per cent), and Niger...
The suspects, identified as Peter Mwendwa Musyoka and his son Dennis Musyoka, were apprehended at their Nyama Villa estate hideout by Shauri Moyo dete...
Justice Nixon Sifuna ordered the immediate release of the funds, finding that ARA had failed to demonstrate any link between the money and criminal ac...
The proposal aims to reduce the average cost of person-to-person (P2P) mobile money transactions from Sh23 in 2024 to Sh10 by 2028, while capping char...
The initiative seeks to address gaps in recourse mechanisms for digital wallets and improve safeguards for users of digital financial services (DFSs).
Kenya was grey-listed by the Financial Action Task Force (FATF) in February 2024 for inadequacies in its money laundering/countering financing of terr...
The Creative Economy Support Bill (Senate Bills No. 30 of 2024), sponsored by Migori Senator Eddy Oketch, proposes the creation of a Creatives Fund to...
The African Union has warned the continent loses billions in illicit financial flows each year. Analysts say stopping tax evasion and corruption is ju...
Trial magistrate Ziporah Gichana directed all the accused to surrender their passports within seven days, refrain from interfering with witnesses, and...
Through the system, CBK will strengthen its ability to surveil the entire banking sector as transactions occur, covering RTGS, PesaLink, and mobile mo...
Kenya was specifically asked to step up investigations and prosecutions of money laundering and terror-financing cases, ensure that financial intellig...
The President claimed that some MPs were compromised with millions of shillings to frustrate critical laws.
Similarly, the average number of monthly transactions increased to 223.5 million, compared to 202 million in 2023 and 190 million in 2022.
This trend comes as more customers shift to fully digital solutions, including app-based payments and automated kiosks, which perform many functions t...
It targets personnel from government institutions, financial organisations, civil society, and security agencies, equipping them with tools and knowle...
The African continent is flush with abundant natural resources that offer lucrative gains, but is hobbled by weak post-coup states desperate for forei...
Stephen Munyakho, who had been living in Saudi Arabia since 1996, was sentenced to death after a deadly fight with a Yemeni colleague in April 2011.
Munyakho regretted that the death of his Yemeni colleague, Abdul Halim, was not intentional, describing it as a misunderstanding that spiralled out of...
His return marked the end of a harrowing chapter that began in 2011 when he was convicted of murder and sentenced to death by the sword after a fatal...
His execution, initially handed down last year, was halted after the family of the deceased accepted diyya, blood money, amounting to approximately Sh...
The growth is largely attributed to the widespread adoption of mobile money platforms, which continue to reshape the country’s financial landscape.
President Ruto spoke directly with Crown Prince Mohammed bin Salman, urging for clemency and a delay in execution.
In 2024, 32 per cent of Kenyan adults borrowed from mobile money providers, the highest share in the region.
The National Assembly Committee on Delegated Legislation raised questions over the fund’s purpose and legality, saying it risked overlapping with the...
This places Airtel ahead of Safaricom in terms of growth rate, even as the latter continues to lead in total subscriber numbers.
The Financial Reporting Centre is tasked with identifying proceeds of crime and fighting money laundering under the Proceeds of Crime and Money Launde...
Data from the state-owned intelligence unit, Financial Reporting Centre, shows that the number of suspicious transactions reports (STRs) exceeded 11,0...
While 71 per cent of digital lenders screen their customers against global sanctions lists and 62.7 per cent offer some form of staff training, only 4...
Among the key issues rejected was the President’s objection to the narrowing of the definition of conflict of interest.
The new law amends ten Acts of Parliament to fix technical gaps in Kenya’s framework on anti-money laundering, combating terrorism financing, and addr...
