Kenya bankers meet to discuss industry concerns

Nairobi, Kenya: Kenya Bankers Association (KBA) on Thursday held its 4th Annual Banking Research Conference to explore the interplay between banking and infrastructure development. 

The conference themed: “Banking and Economic Infrastructure Development – Kenya’s Experience and Prospects” aimed to provoke discussion on the anticipated private sector participation in infrastructure investment under the Public Private Partnership (PPP) framework. 

The two-day conference was opened by the Central Bank Governor Dr. Patrick Ngugi, who noted that the theme of the conference is a demonstration that the banking industry is keen on having its operations and strategic focus informed by collective analytical work.

“The conference’s theme fits very well with the banking industry’s aspiration to be a dependable partner in our collective desire for progress. This is especially the case given the critical role that infrastructure plays in enhancing the economy’s capacity and potential,” Dr. Njoroge said.

The Kenya Bankers Association Governing Council Chairman, Joshua Oigara stated that this year’s annual research conference had attracted engagement of key players in Kenya’s banking industry, financial market experts, policy makers as well as other players in the region to explores the policy and industry framework gaps that needs to address best practice models of public private partnership that Kenya can leverage on to meet market demand.

“Our role is to work in collaboration through strategic engagements with various stakeholders including the government, and members of the academia. Through our collaboration with the Central Bank of Kenya and the National Treasury we have continued to address concerns regarding financial services accessibility supported by adequate policy and a regulatory framework for the industry. We continue to reach out other private entities as well as other government agencies to explore areas of private sector participation,” Oigara said.

On his part, the KBA CEO Habil Olaka underscored the importance of banking and agriculture. He reiterated the impact of establishing credit risk mitigation mechanisms of commercial banks on the performance of the agribusiness firms.

“We are keen in starting a conversation on the link between agricultural productivity and infrastructure, and in particular what role the private sector can play in supporting such link. This is in full recognition that Agriculture remains the sustaining heart of our economy, contributing 30 per cent to our GDP, employing 75 per cent of the national labour force and a source of livelihood for over 80 per cent of the Kenyan population living in the rural areas,” Mr. Olaka said.

For the past four years, Kenya Bankers Association has been hosting conferences in a bid to streamline the banking industry by providing a platform for financial analysts to propose measures aimed at promoting stability and competition.

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