CBK EXTENDS KEPSS OPERATING HOURS

The Central Bank of Kenya has announced changes to the county’s banking operations as part of its broad strategy to modernize and strengthen Kenya’s financial infrastructure. CBK has extended the operating hours for the Kenya Electronic Payment and Settlement System (KEPSS) and the national Real Time Gross Settlement (RTGS) system. In a press statement released on Wednesday, June 18, CBK governor Kamau Thugge said the operational hours will take effect on July 1, 2025. The regulator shifted the working hours to run between 7am to 7pm on all business days. This is a considerable increase from the current 8.30am to 4.30pm schedule.

Thugge said the changes in operating hours follow extensive consultations with financial institutions and stakeholders and will improve efficiency, accessibility, and resilience of Kenya’s payments ecosystem. The extension is also in line with the National Payment Strategy 2022-2025, whose main goal is to modernize Kenya’s financial system and promote a stronger digital economy.  Launched in 2005, KEPSS is a system run by the CBK that helps banks and other financial institutions send large amounts of money to each other safely and efficiently.

 The regulator noted that the new operational hours for the national payment system will enhance conveniences, giving businesses, government institutions, and financial institutions greater flexibility to process payments, improve cash flow management, and reducing end of day settlement risks. It will also support a 24/7 economy, bridging the gap between traditional banking hours and the demands of a modern economy, facilitating seamless transactions across time zones, and increasing the competitiveness of Kenya as a regional financial hub.

 Kenyans are also guaranteed improved access to financial services, allowing more individuals and entities to engage in the formal financial system with ease.