Kenya: Rich Kenyans Shift Sh34 Billion in Fixed Deposits Over Two Months


Sumary of Kenya: Rich Kenyans Shift Sh34 Billion in Fixed Deposits Over Two Months:

  • Wealthy Kenyans and companies stockpiled a record Sh33.8 billion in two months in fixed bank deposits in the wake of withdrawals from dollar-based accounts and search for safety for their savings.
  • Central Bank of Kenya (CBK) data shows that fixed bank deposits held by Kenyans hit a historic high of Sh1.567 trillion in May, up from Sh1.533 trillion in March.

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