Kenya to shield more deposits amid threats on banking
National Treasury Cabinet Secretary Prof Njuguna Ndung’u address a presser after presenting the Budget at parliament buildings in Nairobi, Kenya on June 15,2023. PHOTO | SILA KIPLAGAT | NMG
Kenya says it will raise the amount of bank deposits eligible for insurance protection as authorities seek to cover more savers from potential global disruptions in banking.
And the Kenya Deposit Insurance Corporation (KDIC) says it is reviewing the insured deposit coverage limit of Ksh500,000 ($3,597.12) to be in line with ongoing realities on banking threats.
