The Central Bank of Kenya (CBK) is preparing to review the Central Bank Act and the Banking Act in what could become one of the most consequential regulatory shifts in the country’s digital finance and banking sectors. In a tender notice on Monday, the regulator has invited consultants to help review the two laws that define its powers in a bid to strengthen provisions related to digital banking, fintech regulation, consumer protection, and cybersecurity. The review could solve a legal grey area that has slowed down the expansion of fintechs in the country, allowing commercial banks and telcos to dominate. CBK has delayed issuing operating licences to fintechs like Chipper Cash in the absence of enabling laws. “The objective of this consultancy is to undertake a comprehensive legal revi...