Lending to the private sector grew by 12.5 percent in the 12 months to December 2022 compared to the growth of 8.6 percent a year earlier, helped by banks cutting back their lending to the government in the period.
New credit data provided by the National Treasury shows that banks pumped in an additional Sh380.4 billion in loans to private borrowers last year, taking the total outstanding credit to the private sector to Sh3.43 trillion by the end of December.
