Banking regulators in Africa generally strive to better protect depositors and maintain stability in the banking sector.
The Central Bank of Kenya (CBK), following in the footsteps of the Central Bank of West African States, the Central Bank of Nigeria and the Bank of Uganda, has through enactment of the Business Laws (Amendment) Act No 20 of 2024 on December 11, 2024, now require banks to gradually raise their core capital ten-fold to Sh10 billion by December 31, 2029.
