Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Kenyan shilling posts strongest single-day gain in 12 years
KWFT and the African Guarantee Fund have signed a Sh725 million risk-sharing partnership agreement to expand lending to women-led or women-owned small and medium enterprises in Kenya.
The Kenya shilling posted its strongest intra-day gain against the US dollar in the last 12 years on Wednesday, reaping from a tide of investor confidence after the government received significant inflows to pay off the $2 billion Eurobond.
The dramatic gain on Wednesday lifted the local unit to its strongest level since November last year while wiping out all the losses this year. This means that the shilling has now appreciated for 11 straight days to trade below Sh153.75 at some commercial banks.
