“On our part, at the Treasury, the Central Bank and the Communications Commission of Kenya, we recognise the need to further strengthen our supervisory capacity in order to stay ahead of the curve,” he said.

“And we commit to rise to the occasion by providing adequate supervisory infrastructure and an enabling environment for conducting good business.”

Speaking during the opening of the annual AITEC Banking and Mobile Payment Comesa Conference in Nairobi, Mr Kenyatta said that it was gratifying that Kenyan banks have not been affected “very much” by the global recession and financial crisis that hit the world last year.