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KCB cedes 30pc share of G-2-G oil payments

Kenya Commercial bank (KCB) Group CEO Paul Russo makes his remarks during the banks Financial Year (FY) 2024 Results announcement at Radisson Blu Hotel on March 12, 2025.

Photo credit: Francis Nderitu | Nation Media Group
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By  Kepha Muiruri

Business Reporter

Nation Media Group

KCB Group has ceded a 30 percent share of payments made under the government-to-government (G-2-G) oil deal as part of a risk management strategy.

The bank has disclosed that it had been handling all payments under the deal, which saw it issue letters of credit (LCs) supporting fuel imports.

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