The Central Bank of Kenya (CBK) will extend the operating hours of its national electronic payments system beginning July 1.
In a statement released on June 18, CBK stated the move will boost convenience, financial inclusion and help position the country for a 24/7 digital economy.
The Kenya Electronic Payment and Settlement System (KEPSS), the country’s Real Time Gross Settlement (RTGS) system, will now operate from 7 a.m. to 7 p.m. on all business days, an expansion from the current 8:30 a.m. to 4:30 p.m. schedule.
“This strategic enhancement is aimed at improving the efficiency, accessibility, and resilience of Kenya’s payments ecosystem,” CBK said in a statement.
CBK on Electronic Payments Changes
The change follows months of consultation with financial sector players and aligns with the National Payments Strategy 2022–2025.
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CBK said the extended hours would allow businesses, banks and government institutions greater flexibility in processing large-value and time-sensitive transactions.
Among the expected benefits are smoother end-of-day settlements, improved cash flow management, and greater ability to meet the demands of global markets operating in different time zones.
It also supports efforts to bring more Kenyans into the formal financial system, CBK said.
The move mirrors similar modernization efforts by other central banks globally, part of a broader push to enhance cross-border payment systems and regional integration.
KEPSS will continue to remain closed on weekends and public holidays.
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The CBK reaffirmed its commitment to a secure and inclusive financial system, saying the changes reflect its ongoing efforts to meet the evolving needs of the economy.
Govt on 24/7 Electronic Payment Settlement System
Speaking in parliament on June 12 during the presentation of the budget, National Treasury Cabinet Secretary John Mbadi also announced that, effective July 1, the Kenya Electronic Payment and Settlement System will transition to 24/7 settlement capability.
“In order to reform and modernize the national payment system, CBK is undertaking a comprehensive review of the national payment system legal and regulatory framework,” he said.
“CBK will also implement a fast payment system that seeks to address persistent challenges in affordability and high cost of digital transactions,” he added.
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