Businesses in Kenya, which last year relied on foreign-currency-denominated loans to sustain their operations, have now cut back on such loans following the appreciation of the shilling and the relative stability over the last few months.
Central Bank of Kenyan (CBK) reports showed that the value of foreign currency-denominated bank loans, mostly the US dollar, fell by 13.3 percent in the month to June, coming on the back of another drop of 14.2 percent in April.
