Central Bank of Kenya building, Nairobi. [Wilberforce Okwiri, Standard] Over the past few weeks Kenyan regulators and the financial services sector have made crucial steps in introducing new digital investment products for the Kenyan market.
The Central Bank of Kenya is currently receiving comments from the public on the viability of digital currency issued and backed by the regulator. If successful, Kenya will become the second country in Africa after Nigeria to launch a digital currency.
The Capital Markets Authority (CMA) earlier this week gave the green light for a platform that allows investors to borrow and lend shares to one another at the Nairobi Securities Exchange (NSE).
These cutting edge solutions are a step in the right direction.
Stakeholders in both the private and public sectors should now embark on rigorous public awareness on what these new products and services mean for the common mwananchi.