Kenya expands national agenda on fintech growth

Kenya is stepping up its efforts to expand and formalise the fintech sector as a core pillar of its future economic and digital growth. A major milestone came when the Virtual Asset Service Providers Act, 2025 (VASP Act) was signed into law on 15 October 2025, providing a clear regulatory framework for cryptocurrencies, digital payments, stablecoins, and other virtual-asset services. The new law tasks the Central Bank of Kenya (CBK) and the Capital Markets Authority of Kenya (CMA) with oversight — a move intended to offer fintech firms regulatory certainty and attract both local and foreign investment. This regulatory progress comes alongside the country’s broader financial-inclusion strategy. The recently released Kenya National Financial Inclusion Strategy 2025–2028 highlights fintech as a key enabler for expanding banking services, digital credit, and payment solutions to underserved populations and small businesses across Kenya.
According to fintech-sector overviews, Kenya remains one of Africa’s largest fintech markets — with over 100 fintech companies active as of 2023 — and the sector continues to grow rapidly. This growing ecosystem underlines how fintech is becoming central to national development plans.
Policy makers and regulators are also focusing on safeguarding consumers and ensuring responsible fintech growth. With digital credit, mobile payments, and virtual asset services becoming more widespread, the government is emphasising rules on licensing, compliance, and consumer protection.
In parallel, efforts are underway to enhance digital-finance infrastructure and ensure that fintech services — from digital lending to payments — are accessible, reliable, and secure for all Kenyans, including those in underserved and rural communities.
Looking forward, the expanded national agenda on fintech is expected to deepen financial inclusion, attract investment, and spur innovation. By combining regulatory clarity, inclusive policy goals, and a growing ecosystem of fintech firms, Kenya is positioning itself to lead in digital finance — not just for itself, but as a model for the rest of Africa. If implemented effectively, this push could unlock new economic opportunities, support small businesses, and accelerate the country’s journey into a truly digital economy.