Digital payments companies in Kenya, including Deloitte and other industry players, have issued a warning that parts of the Finance Bill 2026 could push more Kenyans back to using cash instead of electronic payments. The warning follows concerns raised earlier about how proposed tax and regulatory changes might affect the viability and growth of digital financial services.
The story highlights that the industry’s concerns were first communicated in advance, with a specific reference to Clause 2(b) of the Finance Bill 2026. According to the statement, the companies had warned last week that Clause 2(b) could create conditions that make digital payments less attractive for consumers and businesses, potentially reversing progress toward a cash-lite or cashless economy.
The response to those earlier warnings, as described in the text, was dismissive: the companies say they were told they did not understand Clause 2(b). That claim has not been accepted by the digital payments players. Instead, they have continued to press their point, suggesting that the clause’s implications are being overlooked and that the real-world impact could be significant.
At the center of the dispute is the way Clause 2(b) is said to work. The text indicates that Clause 2(b) expands the basis or scope of something relevant to the finance framework. However, the excerpt provided does not include the full explanation of what exactly is being expanded. Still, it is clear that the industry believes the expansion would have negative effects on digital payments.
The warning implies that specific policy design choices in the Finance Bill 2026 could translate into higher costs, reduced incentives, or regulatory pressures for digital payments providers and merchants. When such changes occur, the outcome can be fewer people willing to pay electronically and more reliance on cash—especially if electronic transactions become more expensive, more complicated, or less profitable for service providers.
The story also frames this as a broader policy risk rather than a narrow technical issue. Digital payments companies appear to be positioning their concerns as part of the country’s wider financial ecosystem and consumer behavior. If Kenyans revert to cash due to policy or taxation changes, the knock-on effects could include slower financial inclusion, less efficient commerce, and reduced traceability of payments.
Although the excerpt is brief and cuts off mid-sentence (“Clause 2(b) expands the…”), it still conveys a key narrative: the sector has repeatedly flagged Clause 2(b) as problematic, received pushback after the initial warning, and is now doubling down by issuing a renewed warning that the bill’s proposals could undermine digital payments.
The inclusion of Deloitte and “other digital payments players” signals that this is not a single-company complaint. It reflects a coordinated industry concern, with major stakeholders suggesting that the government should reconsider aspects of the bill to protect electronic payment adoption.
The story implies that the industry wants clarity, proper interpretation, and potentially amendments. The repeated reference to Clause 2(b) indicates that the clause is the focal point for the sector’s objection. Whether the concern is about how digital payments are treated under the law, how related charges are calculated, or how enforcement or eligibility rules might operate, the underlying message is that the consequences could harm the momentum of digital payments.
In essence, the sector is cautioning that policy changes could accidentally steer the economy away from digital rails. If electronic payment options become less competitive compared with cash, consumers and businesses may revert to cash as the simplest, most reliable method—especially where savings, convenience, and transaction friction matter.
The excerpt ends before detailing the clause’s technical language or listing specific impacts. However, the overall thrust is unequivocal: the companies believe that the Finance Bill 2026, particularly Clause 2(b), contains elements that could increase cash usage among Kenyans.
Source: Sholla Ard
Sholla Ard 🇰🇪: BREAKING: VISA, Deloitte, and other digital payments players have warned that parts of the Finance Bill 2026 could push more Kenyans back to cash. We warned about Clause 2(b) of the Finance Bill 2026 last week and were told we didn’t understand it. Clause 2(b) expands the. #breaking
— @sholard_mancity May 1, 2026
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