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Wealthy Kenyans sitting on Sh1.4 trillion cash pile

Foreign currency deposits also rose from Sh553.2 billion to Sh625.3 billion in the period under review. FILE PHOTO | NMG

By  OTIATO GUGUYU

Corporates and wealthy individuals are sitting on a cash pile worth Sh1.41 trillion in a soft economy where investment options are becoming limited.

Central Bank of Kenya (CBK) data shows that long-term and fixed deposits associated with the wealthy, money market funds and cash-rich corporates rose from Sh1.11 trillion in October 2017, reflecting a growth of 27 percent.

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Note: The results are not exact but very close to the actual.

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