Susan Koech has been approved as the second Deputy Governor of the Central Bank of Kenya (CBK). Koech, alongside Sheila M’Mbijjewe, will deputise Dr. Patrick Njoroge who has held the office since 2015. The Finance and Planning Committee of Parliament Tuesday approved Koach’s appointment, enabling the CBK
Kenya’s Foreign Exchange Reserves dipped to its lowest starting March, falling below the East African Community's (EAC) statutory threshold of 4.5 months of import cover. Data by the Central Bank of Kenya (CBK) paints a gloomy picture of the country’s Forex, which has also fallen short
The Kenyan Shilling took the worst hit to trade at its weakest against the US dollar Friday, perhaps the worst loss in history. At Friday's opening, the Shilling traded 126.5 units against the dollar, two days after breaking the 126 mark against the dollar. It now
Kenya’s Foreign Exchange Reserves (Forex Reserves) plummeted to a 9-month low as the shilling continues to weaken against the US Dollar, according to data from the Central Bank of Kenya (CBK). The data shows the reserves stood at Ksh.869.5 billion as of February 9. This is compared
The Central Bank of Kenya (CBK) Governor Dr. Patrick Njoroge’s term is almost running total, following a robust constructive eight-year stint at the helm of the country’s banking regulator. Dr. Njoroge who was appointed Governor by former President Uhuru Kenyatta in June 2015, has had his
Kenya witnessed a surge in business confidence in 11 months to January 2023, according to the Stanbic Bank’s monthly Purchasing Managers Index (PMI). The monthly PMI for January 2023 came at 52.0, creeping by 0.4 from December’s 51.6. This monthly survey points towards a sustained improvement in
Inflation in Kenya eased to an a nine-month low in November to 9.5 percent from 9.6 percent in October. The pressure was eased due to easing food prices arising from seasonal factors and declining of international food prices. Food inflation declined to 15.4 percent from 15.8 percent
The Central Bank of Kenya (CBK) has been pushing for a risk-based pricing framework to be adopted by the banking sector. As a result, commercial banks can now factor in a borrower's creditworthiness when applying for a new loan, loan top-ups, and during loan restructures. As
Njuguna Ndungu, the Treasury Cabinet Secretary Nominee outlined ways through which he will help shrink the ballooning domestic debt. According to Ndingu, he would explore concessional loan to offset the expensive domestic debt. Many of Kenya’s debts are commercial and have turned out expensive to repay at
The Central Bank of Kenya (CBK) took issue with remarks made by the Deputy President Rigathi Gachagua over foreign Exchange Reserves shortage in the country. Speaking to Citizen TV on Sunday evening, Gachagua claimed Kenya was in a dire economic status and that the CBK had
