Income from tuition and hospitality fees at the Kenya School of Monetary Studies (KSMS) jumped 74.65 per cent in financial year ended June 2017, the Central Bank of Kenya (CBK) says in its latest annual financial report.
The operating income from the KSMS, which is owned by the CBK for purposes of training manpower for the financial services sector, rose to Sh379 million from Sh217 million a year earlier, signalling increased intake at the Ruaraka-based institution.
“During the year under review, the school’s physical developments projects continued as planned with significant percentage of completion recorded,” the CBK says.
The KSMS was established in 1997 to enhance skills in banking and financial management following massive bank failures in early 1990s.
The institution offers executive training in English and French in business science, agriculture finance, investment banking, business intelligence and data analytics and financial modelling at diploma and certificate level.
It also has postgraduate diploma and Master’s degrees courses in finance, banking, economic and public policy analysis in collaboration with Moi University and the Jomo Kenyatta University of Agriculture and Technology.
Increased demand for capacity building training may have partly benefitted from rate cap which saw banks rush to boost efficiency by implementing cost-cutting measures to protect profit margins strategies which may have required refresher courses.
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