Central Bank of Kenya to Review Microfinance Act
Njenga, L.

The Central Bank of Kenya (CBK) has announced plans to review the Microfinance Act that came into effect in May 2008. According to CBK Governor Professor Njuguna Ndungu, the amendments will make it cheaper for the public to access funds from MFI agents.

Ndungu said it was vital for the microfinance sector to have new frontiers of financial reach through mobilization of public deposits adding that traditional donors are drying up and cannot be relied on to move the sector to the next level.

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