Loans
The new provisions aim to curb exploitative practices in the microfinance sector, offering enhanced safeguards for borrowers and guarantors.
According to FSD, there were 62.2 million unique loans issued in 2023, up significantly from 37.8 million in 2019.
According to the petitioners, the President's action undermines the constitutional role of the Auditor General, which could erode public trust and potentially abuse political power.
According to the latest SME intelligence report by the African market intelligence firm Stears, only 16 per cent of the about 7.4 million SMEs in the country have access to formal loans.
Between September 2022 and November 2023, President Ruto and DP Gachagua embarked on 51 trips to 34 countries, averaging about four trips per month.
The Data Protection Commissioner, Immaculate Kassait, noted a drastic decline in complaints against financial service providers since the introduction of a regulatory framework by CBK.
A group of women in Samburu County who successfully persuaded their husbands to sell off their animals during the recent drought, Kenya's worst in 40 years, and save the money in a SACCO are happy that the 'risk' is paying off.
The CBK received over 480 applications for licensing as firms rushed to comply with the Act.
More banks said demand for credit this month and March is expected to be higher than it was in December and January.
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