Kenyans had defaulted on more than Sh630 billion loans in April 2024, the highest level in 18 years, as borrowers reacted to a high-interest rate regime that has stifled the ability of millions to make timely repayments.
Data released by the Central Bank of Kenya (CBK) on Wednesday showed that the gross non-performing loans as a ratio of total advanced loans soared to 16.1 percent by April, up from 15.5 percent in February.
