Six out of 10 micro and small enterprises (MSEs) had defaulted on their loans by the end of June, reflecting a tough business environment characterised by a spike in interest rates and the prices of goods and services.
A new report of the MSE Tracker Survey published by the Central Bank of Kenya (CBK) and other partners, which tracks financial inclusion among small businesses, shows that 60.7 percent of small businesses had defaulted on their loans in June this year, an increase from 42.8 percent in October 2022.
