Kenya has the opportunity to become a continental leader in FinTech and dramatically boost financial inclusion by enhancing the existing ecosystem, according to a new research from TheCityUK and the Nairobi International Financial Centre (NIFC) developed by PwC. Doing so will take a renewed focus by the public and private sector to addressing barriers to entry and growth for start-ups, helping start-ups to access more capital and achieve scale, and adopting a cross-sector approach to FinTech regulation.
The research, set out in a report ‘FinTech in Kenya: Toward an enhanced policy and regulatory framework’, found that Kenya is already well-established as a leading source of FinTech innovation, developing solutions which are leapfrogging existing infrastructure and driving financial inclusion and the economic empowerment of its citizens. Formal financial inclusion in services and products in Kenya has grown significantly from 26.7% in 2006 to 83.7% in 2021 [2] – growth largely driven by new financial technology and innovations, especially in mobile money and mobile banking.
Digital financial products have played a significant role in catalysing financial development and inclusion across the country, especially because of the affordable and accessible services that have subsequently been layered onto the mobile and digital platforms infrastructure. Kenya’s efforts in the growth of FinTech can be seen through its forward-thinking financial inclusion strategies and incentivising schemes such as the phased enactment of a dedicated payments and digital lending regulatory framework and the adoption of regulatory sandboxes. However, gaps and the challenges still exist that impact the evaluation, approval and regulation of new and complex FinTech products and innovations. In the report, TheCityUK and PwC make the case for a series of policy and regulatory enhancements which, if taken forward, could spur greater innovation, unlock capital and investment, and further accelerate financial inclusion.
Joseph Githaiga, Associate Director, PwC Kenya, said: “FinTech is changing the nature of financial services globally. It has made itself a key driver of economic development by speeding up financial inclusion and introducing innovative financial products at a rapid rate. While Kenya is a leader in the FinTech world, increased impact can be achieved by allowing greater innovation and attracting more investment into Fintech. A supportive regulatory framework is key in attracting more players into the market, setting the stage for increased innovation in the sector.”
Glynn Austen-Brown, Partner, PwC UK, said: “The progress made in digital innovation worldwide calls for countries to recognise the evolution of financial services offerings. Kenya’s efforts in the growth of FinTech can be seen through its forward-thinking financial inclusion strategies and incentivising schemes such as regulatory sandboxes. However, the gaps and the challenges that FinTech players face can serve to blunt the many positives present in the Kenyan fintech ecosystem. Addressing these challenges will
allow Kenya to continue to be at the forefront of technology innovation and developments and provide an enabling environment for such innovations to scale in Africa.”
Oscar Njuguna, Acting CEO, Nairobi International Financial Centre (NIFC), said, “Nairobi has potential to be a leading financial services centre in Africa, and to realise this vision, we must strive to be at the forefront of future-focused growth areas like FinTech. Ensuring that our business environment keeps pace with the industry will help ensure we achieve the sustainable growth we need, benefiting our local and regional economy.” Scott Devine, Head Middle East and Africa, TheCityUK, said, “There is a rapidly developing global market for FinTech, data and technology, and this presents real opportunities for those countries in a position to capitalise. Kenya stands out as one of the world leaders in mobile money and is home to some of the best-known examples of FinTech-based financial inclusion. Now is the time to build on this strong foundation with government and regulators working closely with FinTech providers in developing policy and regulation that positively shapes the sector and lowers market barriers.”
The report makes a series of recommendations for policymakers to consider.
Short term priorities:
- Establish a FinTech provider facing one stop shop or FinTech office with staff representation from the relevant regulators.
- Create a consolidated FinTech sandbox reducing lead times for approvals by allowing regulators to jointly monitor business models with multiple sub-sector elements.
- Encourage more collaboration amongst FinTech providers, regulators, and stakeholders using existing forums to create a coordinated Kenya FinTech policy roadmap.
- Build a framework to continuously identify and prioritise FinTech regulation training needs and Explore mechanisms to bridge training gaps.
Longer-term priories:
- Longer-term success will depend on wider regulatory reform, with regulators coordinating their efforts to develop a FinTech policy and establish a well-coordinated national FinTech regulatory framework. The FinTech policy and regulatory interventions should aim to create certainty, maintain balance between innovation and risk to public and draw venture capital investment to sustain the budding FinTech sector in Kenya.
- Deepen existing collaborative efforts between regulatory agencies in Kenya and peer regulators in other jurisdictions to ease cross-border FinTech operations.
Ultimately, Kenya should aim to develop a national FinTech policy framework that supports FinTech transformation and innovation, promotes industry growth and removes duplicative regulations in financial services to create certainty in FinTech services and products. The main objective of this policy should be financial inclusion and to establish incentives for FinTech entities by improving their ease of doing business.
![Canon (www.Canon-CNA.com) today announces the Colorado XL-series, a new platform of 3.4m printers that extends the proven advantages of Canon's UVgel technology to the 3.2m graphics market. Available in hybrid and roll-to-roll configurations, the modular, field upgradable platform powered by UVgel technology delivers great versatility and exceptional productivity for both flexible and rigid media applications from signage and décor to point of sale and packaging. The Colorado XL-series comprises two easy-to-operate models: the Colorado XL7 roll-to-roll printer and Colorado XL7 hybrid printer. The new series brings the benefits of UVgel to a new market segment with exceptional application versatility across a comprehensive range of media – from banner, paper, vinyl and films to soft signage, heat-sensitive materials, foam board, fluted polypropylene, acrylic, aluminium composite boards and cardboard – providing the flexibility to tackle diverse customer requirements. With print speeds of 70m² per hour in quality mode, 106m² per hour in production mode and up to 211m² per hour in express mode, the system delivers the productivity needed for demanding production environments while accommodating substrates up to 52mm/2 inches thick for rigid applications. The new platform includes multiple technology innovations, such as the UVgel 860 ink set, which has been optimised to cover a wide variety of both rigid and flexible applications. It also provides the proven benefits of UVgel: odourless and instant-dry prints, high mechanical and chemical robustness, dimensional stability due to low-temperature curing, excellent colour consistency, TPO [1] - and VCL [2] -free, and matte and gloss finish without the need of a separate varnish. The Colorado XL-series also incorporates new UVgel 850 PrintHeads. Each printhead has 4,544 nozzles and features automated built-in nozzle performance monitoring and compensation. A single printhead supports two colours simultaneously, so that only two printheads are required to print CMYK, plus an optional third if white is configured. Additionally, the Colorado XL-series has an agile and precise printhead carriage that features UVgel DynamicMotion Control to ensure exceptional print quality even with challenging media. Taking the UV LED curing process to the next level, the Colorado XL-series introduces UVgel FullBeam Curing. This technology uses a unique 3.4-metre-wide LED curing array that, combined with an ingenious mirror system, delivers consistent UV light dosing across the entire print width, guaranteeing exceptional print uniformity over large surfaces and enabling a wider colour gamut. Media handling is optimised by the new UVgel TRIdrive vacuum belt system, which features three interactive rollers and multiple powerful vacuum zones that reduce wrinkling and skewing by automatically detecting and correcting the media positioning. This results in highly repeatable media transport through the printer, ensuring accurate positioning both longitudinally and laterally and enabling razor-sharp applications. Optional features for the Colorado XL-series, which are already available on the highly successful and modular Colorado M-series, include: UVgel White for hassle-free white printing, FLXfinish+ for creative effects using matte or gloss or mixed matte and gloss on the same print without additional varnish, and FLXture for textured finishes that mimic materials like leather, wood or fabric. Mathew Faulkner, Director, Marketing & Innovation, Wide Format Printing Group, Canon EMEA, comments: "For the past decade, Canon has been at the forefront of the inkjet evolution in large format, with market-leading technologies including the Colorado roll-to-roll printer series powered by UVgel technology and the Arizona flatbed printers. Large format print providers are looking for systems that deliver high productivity, versatile applications and reliable quality while addressing the challenge of finding skilled operators – which is why Canon is launching our new, breakthrough Colorado XL-series, an addition to our portfolio that will set a new standard in productivity and versatility. “This innovative solution brings the proven advantages of our unique UVgel technology to the 3.2m market for the first time, combining it with extensive automation and a modular design that will enable customers to extend their application possibilities into markets such as packaging and décor. Print service providers already producing high-value signage and graphics can now leverage UVgel's distinctive finishes, including mixed gloss and matte effects and textured printing, at scale to stand out in these new markets. And with its hybrid capabilities, users can print both roll-to-roll and rigid applications on the same device, using the same ink, the same colour profiles and the same unique features and finishes. For brands, for example, this translates to seamless campaigns that span the full spectrum of applications, ensuring perfect consistency across campaign assets whether they're roll-fed graphics, rigid signage, packaging, or décor elements. This is particularly valuable when these different applications appear side by side in-store, where maintaining that consistent quality and finish elevates the entire brand experience that today's brands demand." The Colorado XL-series will be available from the beginning of 2026 via Canon’s direct sales organisations as well as from accredited partners. For more information about the Colorado XL-series, please visit: https://apo-opa.co/3WltKtM](https://businessinsights.africa/wp-content/uploads/2025/10/canon_prograf-100x70.png "Canon expands large format graphics production portfolio with new 3.4m Colorado XL-series")
