Central Bank of Kenya Stories

Economic hardships, not just high interest rates, driving digital loan defaults among Kenyan youth
Alfred Onyango  |  Jul 10, 2025

Despite their current challenges, most respondents said they do not intend to default permanently, expressing fear of being blacklisted by the Credit...

Kenya must raise Sh1.6 trillion by 2030 to achieve SDGs, African Development Bank report reveals
Alfred Onyango  |  Jul 09, 2025

In its 2025 Country Focus Report, the African Development Bank states that Kenya urgently needs to mobilise diverse sources of capital over the next f...

Central Bank of Kenya invites Kenyans to review total cost of credit website
Bashir Mbuthia  |  Jul 07, 2025

The survey, which runs until July 15, 2025, seeks input from customers of commercial banks, mortgage finance institutions, microfinance banks and the...

CBK: Gaps in digital lending sector fuel risk of money laundering, terror financing
Lucy Mumbi  |  Jul 07, 2025

While 71 per cent of digital lenders screen their customers against global sanctions lists and 62.7 per cent offer some form of staff training, only 4...

15 must-have car essentials
Margaret Wanjiru  |  Jul 06, 2025

Emergency Preparedness: Having a fire extinguisher, a puncture repair kit, jumper wires, or an emergency hammer on hand can save your life.

Stanbic Bank ordered to pay Sh32 million over tender security bond error
Carolyne Kubwa  |  Jul 05, 2025

The appellate court dismissed Stanbic Bank's appeal, ruling that the lender had indeed breached the standard of care expected of it in issuing the bon...

KNH invests Sh7.6 million in solar energy to lower electricity bills
Maureen Kinyanjui  |  Jul 04, 2025

The project is being supported by EIB Global, the development arm of the European Investment Bank and Germany’s development agency GIZ.

Kenya losing Sh194 billion annually to corruption - AfDB
Maureen Kinyanjui  |  Jul 03, 2025

The African Economic Outlook Kenya Country Focus Report, released in Nairobi, outlines how mismanagement, tax exemptions and weak oversight are reduci...

Loan interest rates drop as CBK moves to scrap risk-based pricing
Maureen Kinyanjui  |  Jul 02, 2025

The move follows a series of benchmark rate cuts by CBK over the past year and a half, including the latest reduction in June, which brought the Centr...

World Bank urges Somalia to strengthen revenue efforts to support economic stability
Mary Wambui  |  Jun 30, 2025

Somalia's domestic revenue, which comes second as the country's source of resources, has over the years remained low, with the World Bank now urging r...

Power banks: How to use and care for your portable lifeline safely
Margaret Wanjiru  |  Jun 26, 2025

Counterfeit or cheap knock-offs often lack essential safety features, and reports of power banks overheating or catching fire have increased in recent...

Ethiopia unlocks banking sector to foreign investors in landmark reform
Bashir Mbuthia  |  Jun 27, 2025

The directive permits foreign entities to establish subsidiaries, branches or representative offices in Ethiopia's previously closed banking system. I...

Kenya moves closer to crypto regulation as MPs back joint oversight of digital asset sector
Maureen Kinyanjui  |  Jun 26, 2025

The National Assembly’s Finance Committee has recommended that five government agencies jointly supervise virtual asset service providers (VASPs), mar...

World Bank: Poverty reduction in Africa stalls as widening inequality slows economic progress
Alfred Onyango  |  Jun 25, 2025

The report notes that Africa has seen little improvement since the mid-2010s, with the region now home to more than 60 per cent of the world’s extreme...

African leaders urge US to ramp up investment, rethink tariffs
Alfred Onyango  |  Jun 25, 2025

Senior State Department Bureau Official Troy Fitrell said there are business leaders in the US who need to understand the opportunities that lie in do...

World Bank: Africa remains biggest development challenge despite 25 years of progress
Alfred Onyango  |  Jun 24, 2025

The World Bank adds that in the early 2000s, Africa enjoyed strong economic growth driven by high commodity prices and a surge in foreign capital infl...

KCB boss Paul Russo elected chairperson of Kenya Bankers Association
Rachael Mutabasi  |  Jun 21, 2025

Russo succeeds NCBA Group Managing Director John Gachora, who had served in the position since June 2021.

Report questions AGOA’s effectiveness as deadline nears, extension talks continue
Alfred Onyango  |  Jun 21, 2025

While countries such as South Africa, Kenya, and Lesotho have benefited from preferential access under the scheme, Afreximbank notes that the recent i...

Foreign direct investment inflows to developing nations fall to 18-year low, threatening job growth - report
Alfred Onyango  |  Jun 18, 2025

FDI inflows to emerging markets and developing economies (EMDEs) have weakened steadily as a share of their GDP since the global financial crisis

CBK extends operating hours for high-value transactions by four hours, starting July 1
Alfred Onyango  |  Jun 18, 2025

New operating window will span from 7:00 am to 7:00 pm on all business days, four hours longer than the current schedule of 8:30 am to 4:30 pm.

Bleak outlook as CBK reveals one in three firms won’t hire in 2025
Maureen Kinyanjui  |  Jun 18, 2025

Data from the Kenya National Bureau of Statistics shows that 782,300 new jobs were created in 2024, a drop from 848,100 the year before.

Controller of Budget uncovers 3,431 commercial accounts in counties
Maureen Kinyanjui  |  Jun 12, 2025

The counties with the highest number of accounts are Nakuru, Baringo, Machakos, and Embu, all running over 200 accounts each.

Kenya's loan defaults hit 20-year high as economic woes deepen
Maureen Kinyanjui  |  Jun 12, 2025

According to the CBK, the ratio of non-performing loans (NPLs), those unpaid for over 90 days, rose to 17.6 per cent by June 2025, up from 17.4 per ce...

World Bank raises poverty line to $3 a day, pushing millions into ‘extreme poverty’ category
Alfred Onyango  |  Jun 12, 2025

Ideally, this means a person will now be considered poor if he or she lives on less than $3.00 per day, up from the previous $2.15.

World Bank downgrades Kenya's GDP growth to 4.5 per cent in June projection
Alfred Onyango  |  Jun 11, 2025

The projection also represents a significant cut from its earlier forecast of 5.0 per cent growth made in January.

Afreximbank issues first Panda bond, raises Sh39.1 billion in Chinese market
Lucy Mumbi  |  Jun 10, 2025

The Bank’s successful entry into China’s Interbank Bond Market followed rigorous regulatory and approval processes for Panda bond issuances.

CBK cuts lending rate to 9.75 per cent as inflation eases
Lucy Mumbi  |  Jun 10, 2025

According to CBK, Kenya’s overall inflation dropped to 3.8 per cent in May 2025, down from 4.1 per cent in April, remaining below the mid-point of the...

World Bank approves Sh38.9 billion to boost Tanzania’s disaster preparedness
Bashir Mbuthia  |  Jun 09, 2025

The initiative, comprising three key pillars, aims to strengthen Tanzania's economic resilience and enhance its technical, financial and institutional...

Kenya’s forex reserves hit historic $10.59 billion, buoyed by remittances and strong shilling
XINHUA  |  Jun 07, 2025

The reserves have been on an upward trend since March, when they surpassed the 10-billion-US-dollar mark.

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