As at December 31, 2023, the number of licensed forex bureaus was 74 having increased from 70 in December 2022.
The increase is attributed to the licensing of seven new forex bureaus and the conversion of three forex bureaus to money remittance providers during the year 2023.
The forex bureaus operated a total of 140 outlets countrywide as at December 31, 2023.
Eight out of the additional 10 forex bureaus added in 2023 are located in Nairobi, while, two are in Eldoret.
Eighty five (85) percent of the outlets are located in Nairobi.
