Kenya smallholder tea farmers earn Sh63.6 billion from tea exports
By Ben Kinyanjui
The Kenya Shilling exchange rate remained relatively stable against major international currencies last week despite marginal depreciation witnessed in the last three months.
During the week, the Shilling depreciated by 0.04 per cent against the US Dollar to trade at an average of Sh87.53 per USD and appreciated by 1.57 per cent and 0.45 per cent against the Sterling Pound and the Euro respectively to trade at an average of Sh134.98 per Sterling Pound and Sh116.79 per Euro.
By Prof Njuguna Ndung’u
The idea to have a focused regional initiative on Mobile Phone Financial Services (MFS) platform in Africa, was initiated right here in Zanzibar during the first African financial inclusion policy forum held in March 2012.
This was following discussions held at Brookings Institution, Washington D.C, on the importance of spurring MFS in Africa and after a critical analysis of the hurdles that limits the scaling up of MFS in Africa.
The Central Bank of Kenya (CBK) has granted authority to the Bank of Kigali Limited to open a Representative Office in Kenya. The authority was granted pursuant to Section 43 of the Banking Act.
Bank of Kigali Limited is a public commercial bank incorporated in the Republic of Rwanda and regulated by the National Bank of Rwanda.
The Central Bank of Kenya (CBK) has granted authority to the Central Bank of India (CBI)1 to open a Representative Office in Kenya.
The Authority, issued pursuant to Section 43 of the Banking Act (Cap 488), makes CBI the sixth foreign bank to be authorized by the Central Bank to establish a Representative Office in Kenya.
Kenya’s money market liquid but International Monetary Fund (IMF) calls for banks to lower interest rates
By Ben Kinyanjui
Kenya’s money market remained liquid last week with the Central Bank of Kenya mopping Sh11.6 billion through repo securities against maturities of repo securities held by commercial banks of Sh18.5 billion.
Reserve money averaged Sh277.7 billion during the week and was Sh9.4 billion below target
Commercial banks demand for Treasury bills and bonds increase as government domestic debt hit Sh976.5 billion
By TF News Reporter
Commercial banks continue to hold the largest portfolio of Government securities at 52.6 per cent up from 49.1 percent at the end of June last year.
Other holders include insurance companies, parastatals and pension funds whose holding declined from 10.9 per cent, 5.3 per cent and 22.8 per cent at the end of June 2012 to 10.6 per cent, 4.6 per cent and 20.3 per cent, respectively, on February 1 this year.