NAIROBI, KENYA—The Central Bank of Kenya (CBK) announced today that it has hired two construction companies to oversee the controlled demolition of the shilling, the national currency of Kenya. This comes at a time when CBK is implementing its strategic plan, part of which involves devaluing the shilling to boost the economy. The CBK said […]
Kenya is set to become the first African country to launch its own cryptocurrency, the KenCoin, which will be backed by the country’s natural resources and human capital. The KenCoin will be a digital currency that will operate on a blockchain platform, allowing for fast, secure, and transparent transactions. It will be pegged to the […]
The Central Bank of Kenya has announced an ambitious plan to switch to Bitcoin as a blanket move to solve thousands of problems facing the country. Noting that systemic fiscal and monetary challenges had made it hard for Kenya to develop, Central Bank Governor Patrick Njoroge said that using Bitcoin would help cushion Kenya from […]
The Central Bank of Kenya is now warning traders that exposure is not a legal tender and may not be accepted universally as a form of payment. This comes after the number of young people who have been insisting that they can pay in form of exposure at the supermarkets and shops increased gradually. This […]
The Export–Import Bank of China has opened a Fuliza credit facility for the Kenyan government in a move that is meant to help the government of Kenya deal with short term cash crunch. Speaking during the launch of the service, the China Exim Bank spokesman said that this move will help cement the position of […]
