Fintech—Kenya—Q&A guide

The following TMT practice note provides comprehensive and up to date legal information covering:

  • Fintech—Kenya—Q&A guide
  • 1. What is the general state of fintech innovation in your jurisdiction?
  • 2. Do government bodies or regulators provide any support specific to financial innovation? If so, what are the key benefits of such support?
  • 3. Which bodies regulate the provision of fintech products and services?
  • 4. Which activities trigger a licensing requirement in your jurisdiction?
  • 5. Is consumer lending regulated in your jurisdiction?
  • 6. Are there restrictions on trading loans in the secondary market in your jurisdiction?
  • 7. Describe the regulatory regime for collective investment schemes and whether fintech companies providing alternative finance products or services would fall within its scope.
  • 8. Are managers of alternative investment funds regulated?
  • 9. Describe any specific regulation of peer-to-peer or marketplace lending in your jurisdiction.
  • More...

Fintech—Kenya—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to fintech in Kenya published as part of the Lexology Getting the Deal Through series by Law Business Research (published: June 2020).

Authors: Coulson Harney Advocates—John Syekei; Dominic Indokhomi ; Irene Muthoni; Mercy Mwaniki

1. What is the general state of fintech innovation in your jurisdiction?

The fintech space in Kenya is vibrant. Investment in the sector has been focused on digital-based lenders, peer-to-peer payment providers, crowdfunding platforms, initial coin offerings and the spread of the use of cryptocurrency. Across the globe, Kenya is gaining a reputation as a leading fintech hub and was recently ranked as number 63 in the global top 100 rankings in the 2020 report of the Findexable Global Fintech Rankings.

The steady growth of fintech in Kenya can be largely attributed to not only market forces but also the interaction and cooperation between industry players, end users and an enabling regulatory framework. There has also been an increase in the use of fintech in the delivery of public services; for instance, the Kenyan government has issued mobile-based treasury bonds and has set up a taskforce to explore how Kenya can leverage blockchain and internet of things technology.

2. Do government bodies or regulators provide any support specific to financial innovation? If so, what are the key benefits of such support?

Regulators and government bodies provide support

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