Kenya is a leading market in financial services innovation, which has played a pivotal role in promoting financial services inclusivity.
The latest data by the Central Bank of Kenya shows that more than 80 per cent of the adult population accessed formal financial services in 2021 compared with 27 per cent in 2006 when the first FinAccess Household Survey was conducted.
As the banking sector grows and new business models emerge through innovation and digitisation, a proactive and responsive regulatory regime becomes an important tool in safeguarding the sector’s equity, integrity, public trust and sustainability.
