How John Michuki Helped Clear the Regulatory Path for M-Pesa — and Kenya’s Fintech Rise
When banks pushed back against M-Pesa and Kenya had no dedicated rules for mobile money, acting Finance Minister John Michuki backed an audit that ultimately affirmed the service as a low-value retail money transfer platform rather than banking. That decision captured the technology-friendly approach of the Kibaki era and helped give M-Pesa the regulatory room to scale, laying foundations for Kenya’s emergence as Africa’s leading fintech market.
Thought Leaders · 19 Aug 2026 · 6 min read
