Manufacturing firms increased their stock of bad loans by 48 percent in the 12 months to June 2023, giving a new perspective to the struggles of an industry now giving banks sleepless nights.
Data from the Central Bank of Kenya’s quarterly economic review revealed that the sector manufacturers added a net of Sh38.2 billion in non-performing loans in one year to hit a record high of Sh117.5 billion at the end of the second quarter.
