Moody’s upgrades Kenya’s sovereign credit rating to B3 on the back of decline in near-term debt default risk
The ratings agency further underscored Kenya’s stronger external liquidity, significantly higher foreign exchange reserves that stand at $12.2 billion, according to the Central Bank, and a narrower current account deficit.
Loan access: Central Bank of Kenya gives nod to additional 27 digital credit providers
According to a press release, the focus of the engagements with DCPs has been, inter alia, on business models, consumer protection and fitness and propriety of proposed shareholders, directors and management which ensures adherence to the relevant laws and importantly that the interests of customers are safeguarded.
