CBK pays Ksh.4 billion in dividend to consolidated account at Treasury

The Central Bank of Kenya (CBK) has paid in dividend, Ksh.4 billion to the Government Consolidated Fund (GCF) under the National Treasury.

The fund, originating from the General Reserve Fund (GRF) was approved by the CBK Board to ensure the regulator is well-resourced to carry out its function.

According to CBK, the payout will modenise its facilities and infrastructure in keeping with its mandate.

The funds will also go a long way to strengthen the CBK’s financial position to make it more resilient to economic shocks.

This even as CBK revealed it increased its paid-up capital from Ksh.35 billion to Ksh.38 billion. The increase was in line with Section 8(3) of the CBK Act and implementation through a transfer of funds from GRF.

“The increased paid-up capital to Ksh.38 billion strengthens CBK’s financial position, enabling it to pursue its functions in a more volatile environment. Specifically, CBK will be able to better absorb losses that may arise from the discharge of its functions, provide confidence that it will meet its domestic obligations and cushion against shocks that may adversely affect its balance sheet,” CBK said in a statement on Friday.

The regulator has lined up a number of projects which will play an important role in its long-term health and viability, strengthening its operations in line with its responsibilities and changes in the financial sector.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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