This update concerns regulatory harmonization and licensing framework development for Payment Service Providers, which falls outside the core FS Products & Services taxonomy focused on specific financial products (deposits, investments, credit, digital assets).
While PSPs may facilitate retail payments, this update is purely procedural and administrative (MoU signing and framework development) with no substantive product regulation, making Investment Services an equally weak secondary fit.
Specialism
The MoU establishes a cross-border regulatory permission framework allowing PSPs to operate across Kenya and Rwanda through mutual recognition of licenses, which is the core definition of passporting.
Mandatory inheritance: Passporting is a child of Governance, so Governance must be raised as the secondary tag to reflect the management and regulatory framework aspects.
2026-03-12 11:42:27·2@vixio.support
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TITLE: Central Bank of Kenya and National Bank of Rwanda Sign Memorandum on Payment Service Provider Licence Passporting Framework
BODY:
On March 11, 2026, the Central Bank of Kenya (CBK) and the National Bank of Rwanda (NBR) signed a Memorandum of Understanding (MoU) to develop a Licence Passporting Framework for Payment Service Providers (PSPs) between the two jurisdictions.
The framework aims to address duplicative regulatory processes and promote mutual recognition of licensing regimes between Kenya and Rwanda. By streamlining licensing requirements, the framework will facilitate the responsible expansion of licensed PSPs across both countries while maintaining robust regulatory oversight and supervisory cooperation. The initiative is anchored on the East Africa Community Cross-Border Payment System Masterplan (EAC Masterplan), which establishes a vision for a more integrated, efficient, and inclusive regional payments landscape. A key priority under the EAC Masterplan is developing a mutual recognition framework for PSP licensing in partner states, addressing the regulatory fragmentation that has historically limited cross-border payment service expansion in the region.
The framework represents a significant step towards regional harmonisation of payment services regulation. Both central banks remain committed to strengthening regional collaboration and ensuring that national payments infrastructure meets the evolving needs of their respective economies. The development of this passporting framework is expected to reduce compliance burdens for PSPs operating across Kenya and Rwanda, while supporting the broader objectives of regional financial integration and cross-border payment efficiency outlined in the EAC Masterplan.