Kenyan banks earned Sh12.7 billion more from lending to micro, small, and medium enterprises (MSMEs) in 2024 compared to 2022, largely driven by higher interest rates that increased the cost of loan servicing for the small businesses.
Data from the Central Bank of Kenya (CBK) shows that interest income from SMEs rose from Sh79.1 billion in 2022 to Sh91.8 billion last year –a 16 percent increase.
