Kenya proposes steep $1.93 million capital thresholds for payment companies

The Central Bank of Kenya (CBK) has published the draft National Payment System Bill , 2026, introducing mandatory minimum core capital requirements ranging from KES 5 million ($38,600) to KES 250 million ($1.93 million) for payment service providers (PSPs) and payment system operators (PSOs). The proposed legislation significantly raises the barrier to entry for early-stage fintechs while establishing a one-year compliance window for existing market operators once the bill is enacted into law.