The severe drought of 1984 significantly impacted Kenya's economy, compelling the government to implement diversification strategies, according to former Central Bank of Kenya (CBK) Governor Eric Kotut.

• The 1984 drought devastated the agricultural sector, Kenya's primary source of foreign exchange from tea and coffee exports.
• Eric Kotut, former CBK Governor, highlighted that this crisis led to seeking financial aid from development partners.
• Financial support from institutions like the World Bank and IMF came with conditions for Structural Adjustment Programmes (SAPs) to reduce reliance on traditional sectors.

Kenya has established a national carbon budget, capping carbon credit exports at 10 million tonnes of carbon dioxide equivalent (MtCO₂e) through 2030.

• The cap limits annual international carbon credit transfers to 1.67 million tonnes across key sectors.
• This policy was unveiled by the Kenyan Government alongside its new carbon market rulebook.
• The move aims to safeguard Kenya's climate targets under the Paris Agreement and attract quality investment by ensuring environmental integrity.

Former Central Bank of Kenya (CBK) Governor Eric Kotut, who once walked barefoot to school in rural Baringo, has shared his remarkable journey to leading the nation's apex bank during a period of significant economic challenges.

• Kotut served as Governor from 1988.
• Key institutions involved include the Central Bank of Kenya (CBK) and the Consolidated Bank of Kenya.
• Notable detail: Kotut spearheaded reforms including a new Banking Act in 1989 and economic liberalization following the 1992 General Election.