Browsing: Vision 2030

While massive and spectacular infrastructure projects seem to point that East Africa’s largest and most vibrant economy remains in the right direction, increasing state debt, soaring fuel and commodity prices and high unemployment threaten to water down the economic footprint of Kenya’s fourth president Kenyatta.

  • Analysts believe the economic footprint is a mixed bag nine years later, as Kenyatta prepares to relinquish power.
  • The country’s increasing public debt has hampered Kenya’s social safety net.
  • In his second term, Kenyatta established the Big 4 Agenda.

A ‘mixed bag’ economic footprint 

Uhuru Kenyatta took office as Kenya’s president in 2013. Then, he vowed to address insecurity, generate employment, enhance food security, combat corruption and revitalise the private sector.

Analysts believe the economic footprint is a mixed bag nine years later, as Kenyatta prepares to relinquish power to his deputy-turned-rival William Ruto, named president-elect on 15th August after beating Kenyatta-backed veteran Raila Odinga.…

  • NPS aims at supporting CBK’s role in facilitating economic activities and livelihoods
  • NPS is to support Kenya’s shift to a digital and inclusive and 24/7 economy
  • The Strategy will also be the basis for consolidating Kenya’s digital payments and innovations

The Central Bank of Kenya (CBK) has developed the National Payment Strategy (NPS) 2022-2025 to formulate and implement policies that best promote the establishment, regulation and supervision of efficient and effective payment systems in Kenya, clearing and settlement systems anchored on CBK’s establishment in the Constitution of Kenya, 2010.

Kenyan payment systems have undergone significant changes and shifts over time. From the modernisation of the domestic payments infrastructure through the deployment of the Real Time Gross Settlement (RTGS) system in 2005 to the launch of mobile money services in 2007, to the subsequent improvements implemented to strengthen and automate clearing systems, Kenya has experienced significant developments in this direction.

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