NAIROBI, Kenya, Sept 22 – Electronic Money Issuers (EMIs) such as M-Pesa and Airtel Money will be required to have a minimum capital of Sh250 million to operate in Kenya under a proposed law.
The requirement is contained in the Central Bank of Kenya (CBK) Draft National Payment Bill, 2026, which seeks to introduce new capital requirements for payment service providers.
If passed into law, card scheme operators, merchant acquirers, and payment switching and clearing operators will also be required to have a minimum capital of Sh50 million to obtain licences.
Money remittance service providers will be required to have at least Sh30 million, while payment messaging system operators and payment gateways will need Sh20 million and Sh10 million, respectively.
The proposed law also requires payment service providers and payment system operators to use systems that are interoperable with those of other providers, operators and their agents.
“A payment service provider or payment system operator may, with the prior approval of the Central Bank, enter into interoperability arrangements with other payment service providers or payment system operators, and their agents,” the draft Bill reads in part.
“The Central Bank may, by notice to the payment service provider or payment system operator, require a payment service provider or payment system operator to enter into an interoperability arrangement with other payment service providers or payment system operators, and their agents,” it adds.
