Kenyan depositors’ money lost its buying power by an estimated 2.36 per cent in September, the lowest real interest rate on long-term savings since May 2017 as a spike in the cost of living ravaged investors.
Data from the Central Bank of Kenya (CBK) shows that lenders paid an average gross interest rate of 6.83 per cent on fixed deposit accounts in September, a marginal drop from 6.93 per cent in August.
