At the 16th Annual Conference sponsored by MicroFinance Network (MFN) in Nairobi, Kenyan Minister of Finance Uhuru Kenyatta commented on the progress of the government towards implementing reforms in the microfinance sector. Last year, the government passed its Microfinance Act and pursuant to it, has begun supervising and regulating the industry, including issuing licenses to operate as microfinance institutions. Currently, Kenya has 4.5 million customers in microfinance sector and those figures will go higher with reforms. Minister Uhuru noted that the Central Bank of Kenya has already created a microfinance supervisory division and plans on future laws to monitor remittances as well.