Browsing: Kenya to launch a central bank of digital currency

  • NPS aims at supporting CBK’s role in facilitating economic activities and livelihoods
  • NPS is to support Kenya’s shift to a digital and inclusive and 24/7 economy
  • The Strategy will also be the basis for consolidating Kenya’s digital payments and innovations

The Central Bank of Kenya (CBK) has developed the National Payment Strategy (NPS) 2022-2025 to formulate and implement policies that best promote the establishment, regulation and supervision of efficient and effective payment systems in Kenya, clearing and settlement systems anchored on CBK’s establishment in the Constitution of Kenya, 2010.

Kenyan payment systems have undergone significant changes and shifts over time. From the modernisation of the domestic payments infrastructure through the deployment of the Real Time Gross Settlement (RTGS) system in 2005 to the launch of mobile money services in 2007, to the subsequent improvements implemented to strengthen and automate clearing systems, Kenya has experienced significant developments in this direction.