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The Kenyan government has released over Ksh. 2.4 billion through the Inua Jamii program to alleviate poverty. In a separate economic development, the Central Bank of Kenya (CBK) has reduced its benchmark lending rate to 9.25 percent. This is the eighth consecutive cut since February 2024 and the lowest rate since January 2023. These actions occur as recent reports indicate Kenya's public debt has surged to an unprecedented KSh 11.81 Trillion, highlighting a growing concern over the nation's financial liabilities.
The Central Bank of Kenya (CBK) has reduced its benchmark lending rate for the eighth consecutive time, now bringing it to 9.25 percent. This marks another significant cut since February 2024, reaching its lowest point since January 2023.