Kenya’s Central Bank to Regulate Expanding $1 Billion BNPL Market

• Central Bank to cap interest rates on Buy Now Pay Later (BNPL) purchases amid market boom.
• New regulations aim to protect consumers from hidden fees and high interest rates.

Nairobi, Kenya – As the popularity of Buy Now Pay Later (BNPL) services soars in Kenya, the Central Bank of Kenya (CBK) is poised to regulate this burgeoning $1 billion market. The move comes as consumers increasingly turn to instalment-based purchases to maintain consumption in an era of high inflation.