Private sector credit growth sinks to 10-year low

Commercial banks are lending to private sector at the lowest pace in more than a decade, leaving key economic and job growth drivers such as manufacturing and agriculture struggling for funding, newly released data shows.

The Central Bank of Kenya (CBK) data shows that lending to the private sector expanded by a paltry 3.3 per cent in the year to March 2017, the lowest growth rate since January 2005.