Kenyan banks investors reap from forex turmoil, declares hefty dividends
Kenya banks are declaring hefty dividends to shareholders after reaping big from the on-going turmoil in the forex market, recording profit earnings during the 2022 fiscal year. PHOTO | SHUTTERSTOCK
Listed banks in Kenya are declaring hefty dividends to shareholders after reaping big from the on-going turmoil in the forex market, recording double digit growth profit earnings during the year ending December 31, 2022.
The lenders have also benefitted from increased earnings from their heavy investment in Kenya’s government securities (treasury bills and bonds), which is increasing borrowing from the domestic market to ease its liquidity challenges.
