The migration is to reduce illicit financial transaction on electronic payment platforms
Decline in interest rates of government securities and CBR will increase lending to private sector.
A Euro 250 million (Sh27 billion) credit facility has been approved by EIB to companies through local banks
Interest rate was retained to ensure price stability in the economy
This will help borrowers access loans at affordable rates
The lingering cash shortage has led to increase in bank service charges.
The initiative will enable agric/SMEs access credit at single digit interest.
The payment will boost banks’ financial stand and avert collapse
Deposits over Ksh200,000 will get 10 per cent maximum
Investors now pay back loans at increased cost due to new exchange rate.