Bankers rule out financial crisis in Kenya

KBA Chief Executive Officer Habil Olaka

Kenya’s banking industry has ruled out the probability of financial crisis in the country despite negative impacts of coronavirus on the economy.

The association through its Chief Executive Officer Habil Olaka indicated that a financial crisis in Kenya is unlikely because the majority of banks had high levels of liquidity during the rate cap period, which effectively lifted at the end of 2019 with banks increasing their lending activity just two months before the pandemic.