Since 2020, the world has witnessed a convergence of once-in-a-generation risks, including the ripple effects of the Covid-19 pandemic, geopolitical conflicts, high inflation, and extreme weather events. This complex web of challenges is often referred to by experts as a ‘polycrisis’.
Despite the current economic downturn, we must not lose sight of banks' role as beacons of stability in assisting Kenyans to navigate the current economic environment. To begin with, banks serve a vital stabilising function by acting as intermediaries between savers and borrowers.
