… The proposal has drawn opposition from the Kenya Bankers Association (KBA), the Law Society of Kenya (LSK), and four major audit firms, Ernst & Young, Deloitte, PwC, and KPMG. …
… Kalunda agreed with the Kenya Bankers Association submissions calling for a review of tax bands across all tax bands, not just for lower-income earners. …
… The Institute of Certified Public Accountants of Kenya (ICPAK) and the Kenya Bankers Association (KBA) want proposals such as taxing money transfers through platforms such as M-Pesa and PayPal, and the introduction of a withholding tax on bank card transactions, such as VISA card …
NAIROBI, Kenya May 21 – Kenya Bankers Association (KBA) has registered strong opposition to the Finance Bill’s attempt to introduce Withholding Tax (WHT) on card transaction fees (such as interchange and merchant fees paid to network giants like VISA). …
… Making their submissions on the Finance Bill, 2026 before the National Assembly Finance Committee, the Institute of Certified Public Accountants of Kenya (ICPAK) and the Kenya Bankers Association (KBA) took issue with the country’s current tax bands, which they say are steep and …
… The programme, implemented by Serianu in partnership with the Kenya Bankers Association and United States International University–Africa, and supported by the Challenge Fund for Youth Employment, has so far trained more than 5,000 cybersecurity professionals. …
… Recent data from the Kenya Bankers Association shows that more than half of the industry’s customers now prefer self-service channels such as mobile and internet banking. …
… Recent data from the Kenya Bankers Association shows that more than half of the industry’s customers now prefer self-service channels such as mobile and internet banking. …
… He explained that the Cyber Shujaa, an upskilling program, delivered in partnership with the Kenya Bankers Association and the Challenge Fund for Youth Employment, had so far trained and immersed over 5,000 cybersecurity professionals against a target of 4,850 professionals. …
Kenya's housing challenge stems primarily from affordability constraints rather than lack of supply, with high interest rates (14.9% average), short repayment tenors (about 11 years), and limited long-term funding excluding most Kenyans from formal home ownership. With only 30,000 active mortgages and a loan book of Sh279.3 billion, systemic issues including high land costs, costly titling processes, and regulatory frictions compound the problem.
Kenya's housing challenge stems primarily from affordability constraints rather than lack of supply, with high interest rates (14.9% average), short repayment tenors (about 11 years), and limited long-term funding excluding most Kenyans from formal home ownership. With only 30,000 active mortgages and a loan book of Sh279.3 billion, systemic issues including high land costs, costly titling processes, and regulatory frictions compound the problem.
The Global Green Growth Institute and Kenya Bankers Association signed a memorandum of understanding to address a financing gap between businesses seeking funding for green projects and banks lacking bankable opportunities. The partnership aims to turn more green businesses into investment-ready ventures and accelerate Kenya's green transition.
The Global Green Growth Institute and Kenya Bankers Association have signed a five-year Memorandum of Understanding to advance sustainable finance and green investment in Kenya's financial sector, establishing a framework to integrate environmental and climate considerations while mobilizing capital for sustainable development.
Private sector credit grew 10.2 percent, partly due to risk-based pricing, but small and medium enterprises say they have not seen meaningful improvement in credit access or affordability. The National Taxpayers Association notes that MSMEs remain Kenya's most credit-constrained segment despite banks doubling their collective MSME lending commitment to over Ksh.350 billion.
Kenya's banks are expected to disburse over Ksh.400 billion to SMEs by end of 2026, as the cost of credit eases following the Central Bank's monetary policy easing cycle. The CBK has signaled it will conduct on-site inspections of banks' credit pricing models starting March 2027.
Kenya's banking sector grew in 2025, with total assets increasing by 10.3 per cent to Ksh.8.35 trillion and customer deposits rising 9.9 per cent to Ksh.6.38 trillion, reversing the previous year's 1.6 per cent contraction.
Kingdom Bank and the African Women's Entrepreneurship Programme Kenya have launched a partnership to connect women-led SMEs with tailored financial products, business development support and market access through the bank's Faidi Dada women's banking solution. The move addresses data showing women-owned businesses receive only Sh354 for every Sh1,000 extended to male-owned firms.
Over 43.9 million Kenyans cannot afford a healthy diet—a rise of 9.6 million since 2017—as the daily cost climbed from Sh331 to Sh582 per person, according to a UN Food and Agriculture Organisation report. Workers' purchasing power has fallen by up to 12 per cent over five years due to statutory deductions and rising taxes.
At the 23rd East African Banking School Conference in Diani, banking regulators and executives discussed how artificial intelligence and alternative data can expand credit access for young people and small businesses, while the Central Bank of Kenya Governor cautioned that AI models must remain transparent, explainable, and subject to human oversight.
Parliament removed a proposal to impose Value Added Tax on person-to-person digital money transfers in the Finance Act 2026, protecting millions of Kenyans relying on digital group contributions. The Finance Bill was passed on June 18, 2026, with 122 MPs voting in favour and 40 against, and the Departmental Committee on Finance and National Planning recommended the removal after public participation involving more than 100,000 submissions.
The Finance Bill 2026 seeks to empower the KRA commissioner to reclassify commercial deals as tax avoidance, seize bank accounts during appeals, and access private payment data without court approval. The proposal has drawn opposition from the Kenya Bankers Association, the Law Society of Kenya, Ernst & Young, Deloitte, PwC, and KPMG, who argue it dismantles taxpayer safeguards and forces taxpayers to pay disputed taxes before seeking justice.
Tax experts and financial sector stakeholders have welcomed several proposals in the Finance Bill 2026, particularly measures aimed at easing the tax burden on Kenyans, while calling for amendments to ensure greater fairness and economic impact. ICPAK Chairperson Elizabeth Kalunda praised the bill for avoiding new taxes during economic pressures and welcomed proposals for pre-populated tax returns and exemptions from taxation.
A petition has been filed at the High Court in Nairobi seeking to stop commercial banks from unilaterally increasing interest rates, default charges, and other loan-related fees. The petitioner argues that banks have been relying on contractual clauses to impose upward variations without demonstrating compliance with the Banking Act and constitutional requirements.
ICPAK and the Kenya Bankers Association are calling for an overhaul of the Finance Bill 2026, specifically opposing proposals to tax money transfers through platforms such as M-Pesa and PayPal, and to introduce withholding tax on bank card transactions like VISA cards.
The Kenya Bankers Association has called for deletion of proposed Withholding Tax on card transaction fees and a 16 per cent VAT on digital payment processing, warning the combined tax burden would increase total digital financial transaction costs and risk financial exclusion.
Banking and accounting industry groups have submitted proposals to the National Assembly Finance Committee calling for reductions in PAYE rates and expansion of tax bands, arguing that lowering the marginal rate to 30 per cent on the higher bracket would release approximately Ksh.28 billion into the economy.
Although an estimated 1,500 cybersecurity graduates enter the Kenyan job market annually, employers struggle to fill key positions due to a mismatch between university training and industry demands. Training institutions focus on network security and vulnerability analysis while graduates lack skills in cybersecurity law, malware analysis, cryptography, cloud security, cybercrime and digital forensics, contributing to unemployment and long job search periods.
Digital channels now dominate bank interactions globally, with more than half of Kenya's banking customers preferring self-service options like mobile and internet banking. Today's customers expect financial services to be fast, simple, and seamlessly integrated into their everyday lives.
More than half of Kenya's bank customers now prefer self-service channels like mobile and internet banking, reflecting broader expectations for convenience, efficiency, and seamless integration into daily life. Banks that fail to meet digital expectations risk losing customers to competitors.
Kenyan companies are strengthening cybersecurity defences through hiring more professionals and investing in tools and infrastructure to counter rising criminal attacks. According to Serianu CEO William Makatiani, firms have deepened cybersecurity budgets by at least 40 per cent over the past year and expect overall cybersecurity budgets to reach Ksh.5 billion in 2026.