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Private sector credit growth sinks to 10-year low
KBA chief executive Habil Olaka. Central Bank data shows that lending to the private sector expanded by a paltry 3.3 per cent in the year to March 2017. FILE PHOTO | NMG
Commercial banks are lending to private sector at the lowest pace in more than a decade, leaving key economic and job growth drivers such as manufacturing and agriculture struggling for funding, newly released data shows.
The Central Bank of Kenya (CBK) data shows that lending to the private sector expanded by a paltry 3.3 per cent in the year to March 2017, the lowest growth rate since January 2005.
