Financial Services

Rebuilding Trust: Reform and Recovery in Kenya’s SACCO Sector After KUSCCO Scandal

The Kenya Union of Savings & Credit Co-operatives Ltd (KUSCCO) scandal remains one of the most sobering wake-up calls in the history of Kenya’s cooperative finance sector. A forensic audit revealed that over KSh 13.3 billion had been misappropriated from member SACCOs, exposing weaknesses that threatened not just financial stability but also public trust in […]...

Opportunity or Instability? Kenya’s Economic Dilemma

Kenya’s economy is at a pivotal point. The figures present a picture of relative stability: GDP growth at 4.9 per cent, inflation at 3.82 per cent, and the Central Bank Rate recently reduced to 9.5 ...

4 Jul 2025

Currency Regulation: A Necessary Measure or a Risky Move?

Currencies across East Africa have been experiencing significant volatility and sustained depreciation against the US dollar and other major foreign currencies. This trend has been driven by a mix of ...

20 Jun 2025

Regulating Responsiveness: CBK’s Warning to Banks

In April 2025, the Central Bank of Kenya (CBK) announced that it would begin imposing daily fines on banks that fail to adjust lending rates downward in line with recent reductions in the Central Bank...

13 Jun 2025

Breaking the Consensus: The Issues with the EU’s High-Risk AML Classification of Kenya

In global financial governance, timing and process are everything. Institutions tasked with regulating the cross-border financial system, policing illicit financial flows, and safeguarding financial i...

30 May 2025

Budget Transparency: Counties Struggle to Provide Feedback on Public Participation

County governments are still struggling to gather feedback on how the public participates in the decision-making process. Kenya’s County Budget Transparency Survey (CBTS) 2024 Report, released last ...

25 Apr 2025

Tracing every coin: FATF’s review of Recommendation 16 and the new rules of engagement for financial service providers

In the intricate and fast-paced world of global finance, where trillions move invisibly across borders daily, the challenge of keeping illicit money flows in check has grown exponentially. From narcot...

17 Apr 2025

Banking on integration: AfCFTA’s promise amid the NBK-Access Bank acquisition

The African Continental Free Trade Area (AfCFTA) represents a generational wager on African self-determination. This is premised on the idea that the continent’s economic salvation lies not in the b...

4 Oct 2024

Moving into full-fledged risk-based lending: How financial service providers in Kenya can navigate this shift

The Kenya Bankers’ Association Ag. CEO Raimond Molenje last week indicated that the Central Bank of Kenya (CBK) has approved all the applications lodged by banks regarding the roll-out of risk-based...