Mobile money, a cornerstone of Kenya’s financial landscape, has seen a sharp decline in transactions, dropping by 14.5%. This marks a significant shift in a sector that has long been heralded as a driver of financial inclusion and economic growth. The downturn, coupled with government plans to trace transactions, signals both challenges and opportunities for…
Kenya’s Capital Markets Authority (CMA) has approved six new unit trust funds, underscoring its efforts to expand the diversity of investment opportunities in the country. This move is part of a broader strategy to deepen capital markets and encourage greater public participation in financial investments. Overview The newly approved funds include offerings from several prominent…
Kenya’s economy is set for a slowdown, with growth projected to ease to 5.0% in 2024 and 2025, according to the International Monetary Fund (IMF). This adjustment comes as global economic pressures persist and Kenya grapples with a volatile macroeconomic landscape, including high inflation, currency depreciation, and debt obligations. Here’s what the IMF’s prediction could…
Kenya’s banking sector has announced an unprecedented financial commitment of KSh 450 billion to support Micro, Small, and Medium Enterprises (MSMEs). This move reflects the sector’s dedication to bolstering the backbone of the economy—MSMEs—which account for over 80% of Kenya’s employment. With this significant capital injection, the banks aim to uplift small businesses, empowering them…
Kenya’s economy is at a critical juncture. As the country faces financial hurdles, the government is reaching out to the public for ideas on how to steer the economy back to stability. Recently, Hon. John Mbadi, Chair of the Budget and Appropriations Committee, called for a public dialogue on the economic situation. He seeks suggestions…
The Kenya Shilling has witnessed a remarkable ascent against the US dollar, fueled by local investors’ shift away from dollars amid perceptions that the greenback shortage has eased. – The Central Bank of Kenya (CBK) closed forex markets with an exchange rate of KSh 153.2039, marking a notable uptick from the KSh 160.0000 range observed…
