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
Kenya removed fuel subsidy from its programmes that was a common measure by former President, Uhuru Kenyatta to cushion vulnerable Kenyans. The decision arrived at a time when the cost of living in the country had become almost unbearable for millions of Kenya amid soaring inflation
Kenyans are at high risk of losing money through banking fraud owing to mobile banking that has grown from a mere 14 per cent in 2009 to 84 per cent in 2022. In a report released on August 4, 2022 by the Central Bank of
The Central Bank of Kenya (CBK) raised the benchmark lending to 7.5 percent for the first time since July 2015. The Monetary Policy Committee (MPC) in a meeting Monday, cited the elevated risks to inflation outlook due to increased global prices. CBK first set the lending rate
Kenya’s debt to China last year December stood at Ksh.806 billion representing 24 percent of the county’s total extern debt. The Treasury record, however, shows the debt has been narrowed to Ksh.793 billion from December 2021 to March this year. External debt currently stands at Ksh.4.1 trillion,
Banks in Kenya announced record profits in history on the back of heightened coronavirus restrictions which saw the majority of small businesses shut down, rendering thousands of Kenyans jobless. Banks’ net profit through the 12 months to December 31, 2021, rose to Ksh.141.5 billion from Ksh.80.29
The Kenya shilling hit a 15-month all-time low of 115 units against the US dollar Monday, the lowest record in history. According to the Central Bank of Kenya (CBK), the Kenya shilling hit a record low to trade at an average of Ksh.115.0 per dollar. This is
Members of Parliament tabled a Bill seeking changes to replace the Central Bank of Kenya (CBK) as the country’s debt manager with an independent body. The bill was proposed by Nambale MP, Sakwa Bunyasi and seeks to establish an independent body that will exclusively deal with
The Central Bank of Kenya (CBK) on Friday released a set of guidelines to strengthen the capacity of financial institutions to manage risks associated with climate change including recurrent droughts, floods, and wildfires. The CBK said the issuance of Guidance on Climate-Related Risk Management to commercial banks and mortgage finance
Central Bank of Kenya (CBK) Governor Dr. Parick Njoroge is now calling for all commercial banks to apply a uniform lending model which will enable assessment of eligibility of borrower to access credit. In the wake of the toppling economy, alongside a hard cry by Kenyans
