(Northeastern page story 1) Call to action: Garissa residents to engage in digital finance transformation

Garissa residents and leaders have been called upon to steer Kenya’s digital future by weighing in on the Draft Virtual Asset Service Providers Regulations, 2026.

Team leader Jairus Mwaka emphasised the importance of public input in developing policies that will guide the country’s growing digital economy.

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He spoke during a meeting in Garissa. He said Kenya has long been recognised as a leader in digital innovation and expressed confidence the country can maintain this position while ensuring safety and stability within its financial systems.

Mwaka highlighted the rapid global growth of digital assets, including cryptocurrencies, which are transforming how people send, receive, and store value.

He said the proposed regulations are designed to establish clear rules governing virtual asset service providers in Kenya.

The framework aims to protect citizens from risks such as fraud and misuse while fostering an environment that supports innovation, creates economic opportunities and attracts investment.

According to Mwaka, the draft regulations introduce key measures, including the licensing of service providers, enhanced oversight to ensure compliance, protection of customer funds and increased transparency in operations.

The proposals also include safeguards against cyber threats and financial crime, all aimed at building public confidence in the sector.

“Our goal is to create a system that works for everyone. A system where innovation can thrive, while ensuring that citizens’ safety, investments, and trust are fully protected,” he said.

He underscored that the public participation exercise is not merely procedural, but a critical component in developing fair, practical and responsive regulations.

Garissa PWDs chairman Aden Bille said many young people are already trading in digital assets, but most of them lack proper knowledge.

“These regulations should focus on education first before enforcement, so our youth are not punished for what they don’t fully understand,” he said.

Resident Omar Abdullahi said security remains the biggest concern noting that virtual assets can be misused for fraud or even illegal transfers.

He called for strong safeguards.

“Most of us don’t fully trust virtual currencies yet because of scams we have seen. Before regulating, there should be public awareness campaigns in local languages so people can make informed decisions,” he said.

Mwaka said the feedback collected during the forums will directly inform the final policy framework.

He said the forum forms part of a broader nationwide consultation led by the National Treasury as Kenya moves towards establishing a secure and inclusive digital financial future.