Kenya Bank Lending Accelerates to Highest in a Year on Rate Cuts

Kenya’s bank lending rose at the fastest pace in a year in July, spurred by the central bank cutting interest rates seven times in the space of 13 months.

Bank lending to the private sector increased 3.3%, Central Bank of Kenya Governor Kamau Thugge said last week in an interview with Nairobi-based broadcaster NTV Kenya. That compares with a 3% contraction in January and is the fastest growth since July 2024.