Millennials Dominate the Digital Lending Space in Kenya: Report

Kenyan youth, who mostly fall under the millennial generation have the biggest share and are dominating credit dynamics within the fintech sector. Statistics from TransUnion Kenya show that most Millennials have access to digital tools. Up to 80 percent of the fintech business is driven by the Millennials and Generation X, according to the report. […]

Saccos Raided in Ruto’s Tax Revenue Push

The government has imposed a new tax on non-withdrawable deposits in savings and credit co-operative societies (Saccos), exerting a squeeze on savers as it seeks to boost revenues to fund the sector regulator’s operations.   Non-withdrawable deposits mean that the share capital paid by a member cannot be reduced or removed.   A schedule by […]

Traders Embrace Supplier Credit Amid Rising Bank Loan Costs

In the face of soaring interest rates, traders are seeking alternative avenues for expansion and restocking, turning increasingly to supplier credit, according to a recent survey. The Africa Trade Barometer report from Stanbic Bank reveals a significant shift in trading practices. In May 2023, approximately six out of ten companies in Kenya were relying on […]

CBK, Investors Standoff Pushes Interest Rates to 16-year High

A standoff between investors and the Kenyan government over interest rates escalated this week after the sale of the October Treasury bond raised less than 20% of the Sh35 billion on offer. Latest data show that the State only raised Sh6.3 billion out of a target of Sh35 billion as investors sought higher returns, suggesting […]

Cash Outside the Baking System Reaches an All-time High of Ksh. 273 billion

Cash circulating outside banks reached a high of Sh. 273.4 billion in July amidst f rushed government spending at the end of the financial year in June, easing the cash flow pain for contractors, suppliers, and their employees.   Statistics from CBK indicate the cash outside banks grew from Sh257.9 billion in June to the […]

Bad Loans in Kenya Set To Rise

Non-performing loans (NPLs) are expected to rise sharply thanks to a tax-induced economic slowdown. Experts say the implementation of new tax measures will most likely depress consumer incomes, triggering discretionary spending while hitting their ability to meet expenses including the servicing of loans. Reduced consumer spending sets up businesses, especially small and medium enterprises, for […]