Kenya’s parliament proposes 8-year timeline for banks to meet new capital requirements 

A new proposal by Kenya’s parliament finance committee could extend the deadline for commercial banks to meet new capital requirements to eight years. In June 2024, Kenya’s Central Bank proposed a tenfold hike in minimum capital for banks with a three-year deadline. 

The committee said raising the minimum capital requirement from KES1 billion ($7.7 million) to KES10 billion ($77.8…