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Microfinance banks lose deposits to private investment vehicles
Customer deposits in Microfinance banks have been cannibalised by alternative investment vehicles, which have offered higher returns to customers. FILE PHOTO | AFP
Customer deposits in Microfinance banks have been cannibalised by alternative investment vehicles, which have offered higher returns to customers.
According to new data from the Central Bank of Kenya (CBK) customer deposits in the microfinance sector fell by 7.8 percent to Sh46.5 billion in 2022 from Sh50.4 billion in 2021.
