Compliance

1. Regulatory Compliance

stokika is committed to operating in full compliance with all applicable laws and regulations in Kenya and across Africa.

2. Kenyan Regulatory Framework

2.1 Data Protection Act, 2019

• Registered with the Office of the Data Protection Commissioner
• Compliance with data processing principles
• Protection of personal and business data
• Regular data protection audits

2.2 Companies Act

• Registered business entity in Kenya
• Compliance with corporate governance standards
• Annual financial reporting
• Proper business licensing

2.3 Tax Compliance

• KRA PIN registration and compliance
• VAT registration and remittance
• PAYE for employees
• Corporate tax obligations

3. Financial Services Compliance

3.1 Anti-Money Laundering (AML)

• Customer due diligence procedures
• Transaction monitoring systems
• Suspicious activity reporting
• Record keeping requirements

3.2 Know Your Customer (KYC)

• Identity verification for all users
• Business legitimacy checks
• Enhanced due diligence for high-risk customers
• Ongoing monitoring

4. Consumer Protection

• Transparent pricing and terms
• Clear communication of fees and charges
• Fair lending practices
• Complaint handling procedures
• Consumer education initiatives

5. Information Security

• Encryption of sensitive data
• Secure payment processing
• Regular security audits
• Incident response procedures
• Employee security training

6. Employment Compliance

6.1 Labour Laws

• Compliance with Employment Act
• Fair compensation practices
• Safe working conditions
• Non-discrimination policies

6.2 Contractor Management

• Clear contractor agreements
• Performance-based compensation
• Training and support
• Code of conduct enforcement

7. Fraud Prevention

• Multi-layer verification systems
• Real-time fraud detection
• Field agent monitoring
• Vendor legitimacy checks
• Collaboration with law enforcement

8. Ethical Business Practices

• Zero tolerance for corruption
• Fair competition practices
• Responsible lending
• Environmental responsibility
• Community engagement

9. Third-Party Compliance

We ensure our partners and suppliers comply with:

• Data protection standards
• Security requirements
• Ethical business practices
• Quality standards

10. Audit and Monitoring

• Regular internal audits
• External compliance reviews
• Continuous monitoring systems
• Risk assessments
• Corrective action procedures

11. Training and Awareness

• Employee compliance training
• Regular policy updates
• Ethics and conduct programs
• Data protection awareness

12. Reporting and Transparency

• Annual compliance reports
• Transparent operations
• Stakeholder communication
• Regulatory submissions

13. Whistleblower Protection

We encourage reporting of compliance violations through:

• Anonymous reporting channels
• Protection from retaliation
• Confidential investigations
• Prompt corrective action

14. International Standards

We align with international best practices:

• GDPR principles for data protection
• ISO standards for quality and security
• Basel Committee guidelines for risk management
• FATF recommendations for AML/CFT

15. Continuous Improvement

We are committed to:

• Regular policy reviews
• Adapting to regulatory changes
• Implementing best practices
• Stakeholder feedback integration

16. Contact Compliance Team

For compliance inquiries or to report concerns:
Email: compliance@stokika.com
Phone: +254 728 011 976