T
Originally published by The Standard BusinessJuly 6, 2026
4h ago
Ruto clears the way for CBK to buy gold locally, flags surge in demand
President William Ruto has signed a new law allowing the CBK to buy and hold locally mined gold, a move aimed at strengthening foreign reserves and supporting the country's mining sector...
✨ Key Highlights
President William Ruto has signed into law the Central Bank of Kenya (Amendment) Bill, 2026, empowering the Central Bank of Kenya (CBK) to legally buy, sell, and hold gold and other precious metals.
- The CBK is now explicitly authorized to engage in gold transactions, aiming to establish Kenya as a regional gold hub.
- President William Ruto assented to the bill, alongside the Parliamentary Pensions (Amendment) Bill, 2023.
- This legislative move signifies a significant shift in the CBK's mandate concerning precious metals.
Continue Reading
Read the complete article from The Standard Business
Advertisement
Related News
Advertisement