Kenya: Central Bank Basks in Glow of Upswing in Financial Sector

18 December 2010

Nairobi — Central Bank of Kenya says implementation of a comprehensive financial inclusion plan is key to actualising government development programmes through cranking up the national savings rate.

A confidential executive briefing note from governor Njuguna Ndun'gu, seen by Sunday Nation, says only wide access that allows the poor to save and accumulate assets will make the monetary policy effective. The savings rate under Vision 2030 is projected to rise from 14 to 25 per cent of GDP, with the investment rate increasing from 20 to 35 per cent.

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