Banking industry must avoid complacency to be competitive

The Kenyan banking industry makes for an interesting case study in exemplifying advancements that have defined commercial banking in Africa’s 21st century. It is among the few industries in the Kenyan economy that overtly exhibit both liberal and co-ordinated market economy attributes.

These characteristics have led to the adoption of isolating mechanisms geared towards market stability, the aftereffect of which has over the years resulted to protected prosperity. Unfortunately, this state of affairs predominantly serves to accentuate a latent existence of banks within the economy.