CBK to lift 10-year ban on licensing new banks in July 2025

CBK Governor Dr. Kamau Thugge before the National Assembly's Committee on Finance and National Planning in regards to the implementation of Central Bank Rate (CBR) at Bunge Towers, Parliament, Nairobi. March 25th, 2025 [Elvis Ogina, Standard]

The Central Bank of Kenya has said it will lift the moratorium on licensing of new commercial banks on July 1, 2025, which may see more lenders enter the market.

The moratorium, which has been in place from November 17, 2015, was imposed against a backdrop of governance, risk management, and operational challenges in the banking sector.