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CBK Yet to Recover All Kshs 1,000 Notes

Despite a gazette notice by the Central Bank of Kenya (CBK) announcing last May that all citizens should return all Kshs 1,000 notes by September 30th, 7,386,000 of these have not yet been returned. “This is equivalent to Kshs 7,386,000,000, the amount that was lost during the Goldenberg era,” says the regulator. Gazette Notice 4849 had sought to replace the Kshs 1,000 by October 31, 2019 with the New Generation banknotes. CBK states that there were 209,661,000 pieces of Kshs 1,000 notes returned by September 30th…

CBK Retains Inflation Rate at 9 Pc

The Monetary Policy Meeting of the Central Bank of Kenya (CBK) has sought to retain the CBR rate at nine percent, a move that signals that fear lingers about the High Court ruling that was made regarding the declaration of the unconstitutionality of the interest rate law last March. The interest law, pegged on the 2019 Finance Bill, had sought to propose that commercial banks charge a consistent interest rate on loans given to the Small and Medium Enterprises (SME’s).  The law was declared unconstitutional because it…

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Cellulant bags Global Award

The Schwab Foundation award is in recognition of Cellulant’s work in building digital payments and financial services that enable businesses and consumers in critical sectors such as Agriculture, Retail Distribution, Transport, Logistics…

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