Banks to dig deeper into their pockets in new licensing plan

Central Bank Of Kenya on Haile Selassie Avenue in Nairobi. [Wilberforce Okwiri, Standard]

The cash-strapped Kenya Kwanza administration has devised new plans to increase its revenue from the country's cash-rich lenders, which would result in commercial banks and microfinance institutions in the country paying higher regulatory fees.

The financial institutions in the country will pay higher regulatory fees if the fresh plot by the government to net more revenue from the cash-rich lenders is successful.