Electronic Money Issuer Licence — Fees and Charges in Kenya

An Electronic Money Issuer (EMI) is a specific category of Payment Service Provider authorised by the Central Bank of Kenya (CBK) to issue electronic money — a digitally stored monetary value that can be used for payments. This category covers mobile money operators, e-wallet providers, and other entities that hold stored value on behalf of customers. The regulatory framework is set by the National Payment System Act, 2011, and the CBK's PSP authorisation guidelines.

Fees and Charges

Fee Item	Amount (KES)
Authorisation fee (standard E-Money Issuer)	100,000
Authorisation fee (Small E-Money Issuer)	100,000

Minimum Capital Requirements by Category

Category	Minimum Core Capital (KES)
Standard E-Money Issuer	20,000,000
Small E-Money Issuer	1,000,000

Key Regulatory Requirements

Requirement	Details
Safeguarding of float	Customer e-money float must be held in segregated accounts at a licensed commercial bank
AML/CFT compliance	Full framework required; subject to CBK inspection
Data protection	Must comply with the Data Protection Act, 2019
Interoperability	Subject to CBK interoperability requirements where applicable
Reporting	Regular transaction reporting to CBK
Consumer redress	Must maintain a formal complaints handling mechanism

Electronic money issuers are prohibited from using customer float for their own operational costs or investments. The float must be ring-fenced and immediately available for redemption by customers on demand. Standard E-Money Issuers are subject to higher capital requirements and more intensive supervisory oversight than Small E-Money Issuers. Regulated by the Central Bank of Kenya (CBK) under the National Payment System Act, 2011, Laws of Kenya.

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