The loan to KCB is part of IFC’s growing work in Kenya to increase the amount of climate financing available.
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The reading was the lowest seen since the lockdown-hit period in April 2021.
Kenya is in breach of East Africa’s FX reserve policy, where members are expected to have above 4.5 months of import cover at all times.
This is the third month the inflation rate is outside the government’s targeted band of 2.5% to 7.5%.
The deal comes from KCB’s acquisition of Rwanda’s Bank Populaire Du Rwanda (BPR) in 2021.
Safaricom began the year with a share price of 37.95 KES. The current share price is KES 28.95