Kenya drawing huge gains from oil slump, CBK boss tells Kigali meet

Kenya has benefitted immensely from the crash in commodity prices, and specifically oil, which has hit most other African nations badly.

Central Bank of Kenya Governor Patrick Njoroge (right) walks to one of the session rooms with Assistant Director, Governor's Office Chris Gaciccio during the World Economic Forum (WEF) in Kigali, Rwanda Thursday. [PHOTO: PIUS CHERUIYOT/STANDARD]

Central Bank of Kenya Governor Patrick Njoroge told a panel discussing the slump in the price of crude oil on the international markets that they had sharply cut the cost of living at home. This was through lower energy and electricity prices, while enabling the country reduce its balance of trade.