A current account deficit is occasioned by high spending on imports compared to export earnings.
Browsing: BANKING & FINANCE
Dive into the pulse of East African banking and finance with Khusoko.com. Explore in-depth news, analysis, and insights on everything from financial regulations and fintech trends to industry mergers and central bank announcements.
Kenya raised the lending rate by 50 basis points to 7.5 percent at their last meeting in May, the first increase since July 2015.
FX Reserves have declined to 4.45 months of imports.
The bonds recorded an undersubscription of 26.4%.
Equity Group’s Africa Resilience Plan is envisaged to provide financing of up to 2% of the combined GDP of the six economies in Eastern and Central Africa.
The BUSD is a stablecoin that has become one of the fastest-growing stablecoins with high demand in the crypto market.