Jimmy Mbogoh
102 Articles
CBK lowers base lending rate for eighth consecutive time
The regulator argues that the move will augment the previous policy actions aimed at stimulating lending by banks to the private sector and supporting economic activity, while ensuring inflationary expectations remain firmly anchored.
Gov’t hints at possible liquidation for persistently weak Saccos
Speaking during the release of the annual Sacco supervision report, Oparanya noted that Saccos have until the end of the month to comply by filing their returns with the Commissioner of Co-operatives, even hinting at possible consolidation of Saccos following their review....
Over 4 million Kenyans denied mobile loans - Metropol
According to Metropol, Kenya’s credit market continues to face mounting trust deficit with over 4 million adults or 14 percent of the population being denied loans, even as rising defaults and steep interest rates continue to weigh on lenders and borrowers.
Over 1.8M Kenyans facing acute food shortage, Gov’t seeks Ksh.4B to avert crisis
Kenya is set to receive below average rains in the last quarter of the year. This could see low food crop production, with the IGAD report projecting that the low rainfall in the country could increase the number of Kenyans at risk of acute food shortage from the current 1.8 million to 2.1 million b...
Manufacturers warn high taxes threatening Kenya’s investment drive
The concern comes at a time when the Nairobi International Financial Centre is racing to position the country as a regional investment hub, with an ambitious goal of attracting USD 2 billion in Foreign Direct Investment (FDI) by 2028.
Ruto’s cost of living promise tested as Kenyans grapple with high food prices
While inflation has stabilized within the Central Bank’s target range, the prices of key household commodities remain high, leaving many Kenyans grappling with everyday expenses.
Kenyans with poor credit history set to pay more for loans
According to CBK Governor Kamau Thugge, though the new risk-based credit pricing model does not intend to leave anyone out of the formal financial market, high risk borrowers will have to contend with an elevated cost of credit compared to those with perceived to have a low risk of default....
CBK yields to banks on risk-based pricing
According to the CBK, going forward, banks will be required to compute the total cost of credit by incorporating the Kenya Shilling Overnight Interbank Average (KESONIA), plus premium (K)—which reflects the creditworthiness (risk) of the customer—together with the fees and charges imposed by the ban...
Six in 10 Kenyans struggling to keep up with bills — Report
An additional 34 per cent now say they plan to use their savings. Another 30 per cent are expected to borrow money from friends or family.
MPs mull consolidation of numerous funds to curb 'wastage'
The National Assembly’s Special Funds Committee, chaired by Fatuma Zainab, has expressed concern over the fund's financial management and recovery structures, warning that continued non-compliance could necessitate a broader restructuring of public funds aimed at empowering youth, women, and vulnera...