FINANCE EA DAILY BUSINESS NEW SUMMARY

The Central Bank of Kenya (CBK) has invited the public for the first time to submit their views on the introduction of a central bank digital currency (CDBC), a virtual version of the Kenyan shilling, as it seeks to keep pace with global financial innovations.

The CBK on Thursday released a lengthy discussion paper that will serve as the basis of what is expected to be a landmark debate — though it maintained that the risks surrounding digital currencies remain at this point…Business Daily

The Treasury has been asked to release funds for settling a Sh6.7 billion KCB #ticker:KCB loan which was used to purchase subsidised fertiliser.

The State Department for Crop Development and Agricultural Research told Parliament last week that the interest on the loan continues to accrue at a penalty rate of 22.5 percent.

This translates to a penalty of Sh3 million daily and Sh90 million monthly, highlighting the financial burden of defaulting on the credit facility….Business Daily

The Centre of Excellence in Sustainable Agriculture and Agribusiness Management (Cesaam) at Egerton received Sh600 million from the World Bank in 2017 for research.

Mr Nabukwesi said that Kenyatta University missed out on lucrative World Bank funding to build a hostel due to strikes by students and non-teaching staff.

“Sometimes certain things that are done at our institutions affect their rating and funding,” he said.

….Nation

Mobile lenders will now have to seek your consent before they forward your information to be listed on Credit Reference Bureaus (CRBs) in new regulations by the Central Bank of Kenya (CBK) meant to finally put the unregulated lenders in check. ….Nation

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