The number of Kenyans with more than Sh100,000 as savings in their bank accounts has dropped for the first time in more than 13 years, reflecting the cash flow problems in an economy plagued by job cuts and modest economic activity.
Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data.
Central Bank of Kenya (CBK) data, set for release next month, is expected to show that savers with more than Sh100,000 in their bank accounts dropped to 1,450,000 last year, down from 1,583,000 in 2017 — the first fall since 2006 when the regulator began making public such deposit data.
Kenyans with Sh100,000 in bank fall to 13-year low
The CBK data offers a sneak peek at Kenya’s growing income inequality problem
www.businessdailyafrica.com