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Wednesday July 17, 2019 - President Uhuru Kenyatta’s government has instructed Central Bank of Kenya (CBK) to develop a system that will enable financial service providers identify their customers electronically.

Following these instructions, CBK signed a Memorandum of Understanding on Monday with a Singaporean tech firm that will develop infrastructure on identity, data and electronically register all Kenyans who have bank accounts. 

The infrastructure is also expected to feed into the digital ID system that the Government has been trying to develop that includes getting Kenyans to register for the largely unpopular Huduma Namba.

President Uhuru Kenyatta witnessed the signing of the MoU on the sidelines of the two-day Afro-Asia Fintech Festival at the Kenya School of Monetary Studies in Nairobi jointly hosted by CBK and MAS.

He said the development of the digital ID and KYC tools fits into the Government’s digital ID strategy.

“This initiative between our two central banks aligns well with the ongoing drive by my government to introduce a ‘single source of truth’ digital identity,” Uhuru said.

The Kenyan DAILY POST
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