Former Central Bank of Kenya (CBK) Governor Eric Kotut has detailed the significant regulatory reforms implemented to stabilize Kenya's financial sector following the 1988 banking crisis.

• The crisis was primarily caused by non-bank financial institutions with inadequate capital, weak management, and poor governance.
• Key reforms included intensified inspections, the creation of Consolidated Bank of Kenya to absorb struggling lenders, and the enactment of a new Banking Act in 1989.
• These

Unremitted pension deductions in Kenya have surged to Sh85.2 billion by the end of December 2025, a significant increase that jeopardizes the retirement savings of workers.

• The total unremitted amount has grown substantially, with over Sh73.1 billion representing contributions overdue by more than 30 days.
• The Retirement Benefits Authority (RBA) is spearheading efforts to curb this trend, as the issue is particularly acute in public institutions.
• New proposals, including empowering the Kenya Revenue Authority (KRA) with stronger enforcement powers and holding CEOs personally liable, are being considered to tackle persistent defaults.

Former Central Bank of Kenya (CBK) Governor Eric Kotut revealed that Kenya was compelled to liberalize its economy following the 1992 General Election due to a freeze in funding from development partners.

• The decision to liberalize was a direct consequence of development partners freezing funding after the 1992 General Election.
• Key figure: Eric Kotut, former Governor of the Central Bank of Kenya.
• Notable detail: Reforms included the abolition of exchange controls and import licensing, coinciding with political changes like the repeal of Section 2A of the Constitution.