Read:President Ruto's rates cut push heralds new era Kenya also took in loans from Germany (Sh7.8 billion) and France (Sh6.2 billion) to help establish a centre for entrepreneurship including satellites together with an integrated voucher system and primarily to pay the foreign exchange costs. T...
Ultimately, these monetary policy changes in Kenya carry significant implications for the everyday lives of Kenyans, impacting the cost of borrowing, business operations, and the overall cost of living. While aiming for long-term economic stability, these changes pose substan...
Bank share prices have fallen by an average 32.8 percent since the start of the year, mainly hit by a decision by the Central Bank of Kenya (CBK) to freeze a bid to raise cost of loans following the scrapping of lending rate controls on November 7, 2019, analysis shows. T...
Kenya’s tax-to-GDP ratio has been on a downward trajectory after the country implemented policies that have ended up narrowing the tax base.
The Kenya Auto Bazaar Association, which represents second-hand car dealers, said its members were bracing for further slowdown in sales due to higher prices. The full impact on demand, the lobby’s secretary general Charles Munyori said, will likely be felt from September when most of the ...
A recent World Bank report noted that Kenya’s growth has been driven by a huge uptake of commercial loans as revenues have not kept pace with spending, leading to huge budget deficits. “The related deficits have been financed through debt with an increase in commercial borrowing,” said the...
“It is a great honour to be appointed to steer the strategic vision of UBA Kenya as a subsidiary of the UBA Group. I look forward to carrying on the growth trajectory of UBA Kenya,” said Ms Mulili. She becomes the sixth CEO in 11 years to head UBA Kenya, including the two who ...
“We are navigating a complex operating context in Kenya with Mobile Termination Rates (MTR) reduction, fiscal pressure (increased taxation), increased regulatory scrutiny, customer acquisition/subscriber registration, changes and the return to charging on the bank to/from M-Pesa transactions...
However, Kenya was last year forced to turn to commercial external loans to ease pressing liquidity challenges. This came as a spike in interest rates triggered by the US Federal Reserve made it costly for developing countries to raise money from the global debt market. ...
Kenya Bankers Association (KBA) chief executive Habil Olaka says while the rise was not a surprise, the magnitude (200 basis points) was and it “definitely creates some challenges.” Mr Olaka expects deposits to become more expensive as banks raise rates to convince customers not...