What does it take to get an e-money licence in Kenya?
To hold an e-money licence in Kenya, you need one of 2 licence categories from Central Bank of Kenya. Published minimum capital: KES 20,000,000 (core capital). 9 entities currently hold an e-money 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.
“E-money issuance” here is the normalized activity: Issue stored-value / electronic money redeemable at par and hold the customer float. The category of licence that lets a provider keep customers' money.
Activity id (as used by the Afriset MCP): fintech:EMONEY_ISSUE
E-Money Issuer
Central Bank of Kenya| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | KES 20,000,000 (core capital) Verbatim“20,000,000.00 … A payment service provider… shall at the time of authorisation and at all times, hold a core capital as set out in the First Schedule.” | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 2022-12-31 |
| Local presence / incorporation | A value has been located but not yet verified, so we don't publish it here. | — | — |
| Timeline | No fixed processing-time cap; Bank may request more info "within thirty days" (Reg 5(3)); certificate issued "within seven days of receipt of authorisation fees" (Reg 5(6)). Licence validity period: not specified in the Regulations (renewal exists under Reg 9 but no stated term). Verbatim“at least two months prior to the expiry of the authorisation … within thirty days … within seven days of receipt of authorisation fees” | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 2022-12-31 |
| Local ownership | No such requirement: No local-shareholding percentage requirement in the Regulations. | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 2022-12-31 |
| Fees | Application KES 5,000; Authorisation KES 1,000,000 Verbatim“5,000 … 1,000,000” | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 2022-12-31 |
| Ongoing obligations | Trust Fund safeguarding of e-money float: Reg 25 — "ensure all monies received are held in a Trust Fund" and "balances in the Trust Fund shall not at any time be less than what is owed to customers"; monthly reporting Reg 29 ("within ten days of the end of every calendar month submit to the Bank"); AML/CFT Reg 60 (comply with "Proceeds of Crime and Anti-Money Laundering Act (Cap. 59A), and the Prevention of Terrorism Act (Cap. 59B)"); per-transaction limit Reg 43(1) "shall not exceed seventy thousand shillings and an aggregate monthly load limit of one million shillings"; renewal ≥2 months before expiry (Reg 9); core capital held "at all times" (Reg 11). Verbatim“ensure all monies received are held in a Trust Fund … balances in the Trust Fund shall not at any time be less than what is owed to customers … within ten days of the end of every calendar month submit to the Bank … Proceeds of Crime and Anti-Money Laundering Act (Cap. 59A), and the Prevention of Terrorism Act (Cap. 59B) … shall not exceed seventy thousand shillings and an aggregate monthly load limit of one million shillings … at all times” | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 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?
9 entities are on the Central Bank of Kenya register under the E-Money Issuer category — view the register .
Small E-Money Issuer
Central Bank of Kenya| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | KES 1,000,000 (core capital) Verbatim“1,000,000.00” | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 2022-12-31 |
| Local presence / incorporation | Must be a company incorporated in Kenya. Verbatim“is a company incorporated in Kenya.” | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 2022-12-31 |
| Timeline | Same regime as EMI: info request "within thirty days" (Reg 5(3)); certificate "within seven days of receipt of authorisation fees" (Reg 5(6)); no explicit validity term stated. Verbatim“within thirty days … within seven days of receipt of authorisation fees” | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 2022-12-31 |
| Local ownership | No such requirement: No local-shareholding percentage requirement. | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 2022-12-31 |
| Fees | Application KES 5,000; Authorisation KES 100,000 Verbatim“5,000 … 100,000” | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 2022-12-31 |
| Ongoing obligations | Per-transaction cap: Reg 47(b) — issuer "does not issue e-money accounts with an individual transaction limit that exceeds twenty thousand shillings"; aggregate e-money liability cap: Reg 47(c) — "one hundred million shillings"; Trust Fund safeguarding (Reg 25); monthly reporting (Reg 29); AML/CFT (Reg 60); renewal ≥2 months before expiry (Reg 9). Verbatim“does not issue e-money accounts with an individual transaction limit that exceeds twenty thousand shillings … one hundred million shillings” | National Payment System Regulations, 2014 (Legal Notice 109 of 2014) | 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?
0 entities are on the Central Bank of Kenya register under the Small E-Money Issuer category — view the register .
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