Hustler Fund CBK report Stories
Findings indicate that thousands of borrowers were either below the legal age of 18 or had not yet been born when the funds were disbursed.
Data from the Central Bank of Kenya (CBK) shows that domestic debt increased from Sh4.342 trillion as of September 16, 2022, to Sh6.021 trillion by Fe...
The Central Bank of Kenya (CBK) early this month scaled down its base lending rate by 0.5 per cent to 10.75 per cent.
The Treasury’s projection of 5.3 per cent growth in 2025 is slightly lower than the CBK’s December 2024 forecast of 5.5 per cent.
With the shilling constantly trading at an average of 129, it arguably means diaspora Kenyans are left in a tight spot while deciding whether to send...
Transport costs could reduce significantly, benefitting public service vehicles, ride-hailing services, and private motorists.
The move follows amendments to financial sector laws late last year when the President signed the Business Laws (Amendment) Bill into law.
This announcement follows the CBK's latest reduction of its benchmark lending rate by 50 basis points, bringing it to 10.75 per cent from 11.25 per ce...
The bank has pledged to monitor the impact of these policy changes closely and take further action if necessary.
This change comes in response to pressure from the banking regulator, signalling a potential shift in the lending landscape.
The United States remained the largest source of remittances during the review period, contributing 51 percent of total inflows.
As Kenya moves to 2025, the recovery of the shilling remains a key indicator of the country's economic health.
The projection is pegged on the move by the United States central banking system, the Federal Reserve, to enact the third consecutive interest rate cu...
So far this year, the months of January, August, September and October recorded the highest dollar inflow from diaspora remittances.
The CBK has supported this shift by granting approvals to Safaricom, Telkom Kenya, and Airtel Kenya to raise daily transaction and account limits.
Despite the widespread uptake of the Hustler Fund, loan repayment rates have not kept pace, prompting the government to revise the terms of repayment.
The CS said that taxes currently take up 8 per cent of employees' salaries, a burden that many find excessive.
The KBA noted that inflation has remained low, and the economy is stable, making it an opportune time for the CBK to cut its benchmark rate.
Arita, a seasoned financial expert, outlined his plans to establish a dedicated team within CBK focused solely on addressing these issues.
