What does it take to get a remittance licence in Kenya?
To hold a remittance licence in Kenya, you need the Money Remittance Provider licence from Central Bank of Kenya. Published minimum capital: KES 20,000,000 (minimum core capital, maintained at all times). Historic transitional path was KES 10M rising to KES 20M by 31 Dec 2014 — now the flat standing figure is 20M. 36 entities currently hold a remittance licence in Kenya. Full requirements — minimum capital, local presence, timeline, local ownership, fees and ongoing obligations — are set out below in each instrument's own words, with source and date; amounts are in the statute's own currency.
“Cross-border remittance” here is the normalized activity: Provide inbound/outbound cross-border money transfer / remittance services under a dedicated licence, approval or registration (IMTO/MRP/MTSP/ADLA-type).
Activity id (as used by the Afriset MCP): fintech:REMITTANCE_XBORDER
Money Remittance Provider
Central Bank of Kenya| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | KES 20,000,000 (minimum core capital, maintained at all times). Historic transitional path was KES 10M rising to KES 20M by 31 Dec 2014 — now the flat standing figure is 20M. Verbatim“it shall at all times maintain a minimum core capital of not less than twenty million shillings. … a minimum core capital of not less than ten million shillings before the commencement of operations and increase the core capital to twenty million shillings by the thirty-first day of December, 2014.” | Money Remittance Regulations, 2013 (Legal Notice 66 of 2013) | 2022-12-31 |
| Local presence / incorporation | Must be incorporated as a limited liability company under the Kenyan Companies Act; Bank may inspect premises before approving commencement. Verbatim“is incorporated as a limited liability company under the Companies Act (Cap. 486) … Bank may… carry out an inspection of premises prior to granting approval” | Money Remittance Regulations, 2013 (Legal Notice 66 of 2013) | 2022-12-31 |
| Timeline | Processing: Bank issues a letter of intent "within ninety days of the applicant lodging the application" (~3 months to letter of intent). ; Licence validity: Licence expires 31 December each year (annual); renewal ≥2 months before expiry. Verbatim“within ninety days of the applicant lodging the application, issue a letter of intent … The licence granted under regulation 7 shall expire on the thirty-first day of December in each year. … at least two months before the expiry. … within ninety days of the applicant lodging the application” | Money Remittance Regulations, 2013 (Legal Notice 66 of 2013) | 2022-12-31 |
| Local ownership | No local-vs-foreign requirement, but a 10% single-shareholder cap (any shareholder) without Bank approval. Verbatim“A shareholder of a money remittance operator shall not own more than ten percent share capital of the money remittance business without prior written approval of the Bank.” | Money Remittance Regulations, 2013 (Legal Notice 66 of 2013) | 2022-12-31 |
| Fees | Application KES 20,000; Annual licence fee KES 100,000 per outlet. Verbatim“twenty thousand shillings … Annual licence fee per outlet: 100,000 … Application fee For a new licence: 20,000” | Money Remittance Regulations, 2013 (Legal Notice 66 of 2013) | 2022-12-31 |
| Ongoing obligations | AML/CFT (Reg 37 — comply with "Proceeds of Crime and Anti-Money Laundering Act (Cap. 59A)"); layered reporting (Reg 34 — "daily returns," "weekly returns," quarterly + audited annual accounts); maintain min core capital at all times (Reg 10); premises inspection (Reg 27); annual renewal (Regs 9, 12). Verbatim“Proceeds of Crime and Anti-Money Laundering Act (Cap. 59A) … daily returns," "weekly returns,” | Money Remittance Regulations, 2013 (Legal Notice 66 of 2013) | 2022-12-31 |
Requirements as published in the cited instruments — not legal or compliance advice. Capital and fees are shown in the currency the statute itself uses. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.
Who already holds this licence?
36 entities are on the Central Bank of Kenya register under the Money Remittance Provider category — view the register .
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