In December 2024, the National Assembly passed legislation to regulate Buy Now, Pay Later (BNPL) products under the Business Laws (Amendment) Act, 2024. This new framework is a progressive development in the face of a growing recognition of the need for consumer protection and the sustainable expansion of the BNPL sector.
BNPL is a fast-growing payment method across the world. Locally, names like Lipa Pole Pole, Lipa Mdogo Mdogo, and Lipa Later, have quickly been etched into Kenya’s lexicon to describe BNPL.
