The Central Bank of Kenya Wednesday announced that, with effect from July 1, 2025, it will lift the moratorium on licensing of new commercial banks.
The moratorium that has been in place since November 17, 2015, was imposed against a backdrop of governance, risk management, and operational challenges in the banking sector.
In a press statement, the bank says the temporary suspension was intended to provide space for the strengthening of the Kenyan banking sector.
Since then, the statement says that significant strides have been made in strengthening the legal and regulatory framework for Kenya's banking sector.
