The Central Bank of Kenya (CBK) is facing mounting public pressure after Kenyans rallied behind Steve Muikia, a former bank clerk turned tissue seller, who claims his innovation was stolen to create PesaLink.
Muikia, once a loans officer at Co-op Bank, says he conceived the idea of a real-time interbank transfer system in 2015 after witnessing the frustrations of slow and costly transactions.
He registered his concept, “AirMoney Virtual Bank Transfer Solution,” with KECOBO, and pitched it to CBK, the Kenya Bankers Association (KBA), and Integrated Payments Service Limited (IPSL).
Two years later, in 2017, PesaLink was launched with striking similarities to Muikia’s proposal, including the branding style. By September 2019, the platform had already processed transactions worth Sh220 billion.
Muikia, however, received no recognition or compensation and sued CBK, KBA, and IPSL for Sh1 billion.
The case was dismissed in 2023 after KBA argued PesaLink’s development predated Muikia’s registration.
However, the delayed judgment released in August 2025 after public outcry has renewed debate on intellectual property rights in Kenya.
Since losing his banking job, Muikia has been selling tissues along Thika Road to survive. His plight has drawn sympathy online, with prominent figures, including former Chief Justice Willy Mutunga, amplifying his case.
On August 11, the Senate forwarded his petition to the National Assembly for review.
With plans to appeal, Muikia insists he will not relent, while Kenyans demand accountability from CBK and banks accused of sidelining local innovators.
By Nairobi