Press Release – Appointment of Deputy Governor Mr. Gerald Nyaoma Arita
Photo: Deputy Governor Dr. Susan Koech, Governor Dr. Kamau Thugge, and Deputy Governor Mr. Gerald Nyaoma
The National Assembly Departmental Committee on Finance and Planning, jointly with the Senate Finance and Budget Committee earlier today held a joint approval hearing for Central Bank of Kenya Deputy Governor Nominee, Mr. Gerald Arita Nyaoma.
Kenyan Shilling Strengthens to Sh128 Against Dollar Rate by @pacific_forex.
We have done an analysis of why the Kenyan shilling has strengthened
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Governor Dr. Kamau Thugge is at the National Assembly for the presentation of the Budget Statement for FY2024/2025. Earlier, he was at the National Treasury where he joined the Cabinet Secretary, Principal Secretaries and other officials.
𝗧𝗛𝗘 𝗜𝗡𝗧𝗘𝗥𝗡𝗔𝗧𝗜𝗢𝗡𝗔𝗟 𝗗𝗔𝗬 𝗢𝗙 𝗙𝗔𝗠𝗜𝗟𝗬 𝗥𝗘𝗠𝗜𝗧𝗧𝗔𝗡𝗖𝗘𝗦 𝟮𝟬𝟮𝟰
Today, @Diaspora_KE joined the world in marking the International Day of Family Remittances themed “Digital remittances towards financial inclusion and cost reduction,”
Representing PS @roselinenjogu at the event held at Radisson Blu-Nairobi to mark this special day, Amb. Isaiya Kabira, Secretary-Investments and Entrepreneurship, spoke of the direct impact remittances has had on the education, healthcare, small business development, gender equality, rural economic growth and poverty alleviation of the people of Kenya.
Amb. Kabira added that the Government remains committed to supporting the Kenyan diaspora to ensure that they not only send money for household usage but also get an opportunity to invest and directly contribute to the growth of the country's economy from the comfort of their host countries.
Kenya’s remittance flows are a crucial part of the foreign exchange earnings matrix and vital income source for Kenyans. Thus, the increase of remittances in Kenya is linked to the innovative digital space in the financial sector in the country which has allowed sending of remittances and forward transmission to reach most remote places in Kenya.
However, the exercise of making transmission of funds easy has had challenges especially with the fluctuating exchange rates and the cost of remitting money into the country reportedly at 6 Percent, as opposed to the ideal 3 Percent target.
Those present at the event included CBK Deputy Governor Dr. Susan Koech, IFAD Country Coordinator Ronald Ajengo, and other stakeholders that operate in the financial and fintech spaces.
#FamilyRemittances #LeaveNoOneBehind #Migrants #SDGs #IDFR
@CBKKenya@IFAD@FFRemittances@KeEquityBank@VisaKenya@WiduAfrica@IOMKenya@FSDKe
The @AfDB_Group marks its 60th Anniversary this year. Celebrations for the Bank’s #DiamondJubilee got underway at its Annual Meetings in Nairobi, #Kenya, last week, setting the stage for year-long commemorations. #MakingADifference#AfDBat60
President @WilliamsRuto of Kenya announced $20 million support by Kenya to the African Development Fund. This marks the largest contribution by an African country to the Fund. Thank you very much my dear friend and brother, Mr. President! @AfDB_Group
It is urgent that African integration be deepened to spur increased intra-continental trade. This intervention will accelerate economic growth and generate more productive jobs for millions of our young people.
At the Kenyatta International Convention Centre, Nairobi, for the African Development Bank Group and Africa Development Fund Annual Meetings.
Joined by Presidents @PaulKagame (Rwanda), @edmnangagwa (Zimbabwe), Mohamed al-Menfi (Libya) and @HassanSMohamud (Somalia), among other leaders.
The electronic infrastructure will deepen the domestic capital market, promote savings and investments besides fostering the growth and stability of our financial markets.
During the Financial Inclusion Fund breakfast meeting with 46 Chief Executive Officers( CEOs) from commercial banks, Microfinance Banks, Telecommunications Companies, GSMA Kenya, and Kenya Bankers Association (KBA) organized by CBK at Kenya School Of Monetary Studies, Nairobi