Off the Record in Kenya: Private Equity, Banking Consolidation, and a Blossoming FinTech Sector
Bonds & Loans
Published: 13 June 2019 09:45
The last three years have been tough for Kenyan banks and corporates. The introduction of the interest rate cap in 2016 sapped liquidity, leaving many corporates deprived of financing. But the last few years have also seen the blossoming of new liquidity pools including private equity and mobile lenders, which are beginning to claw market share away from banks, according to CFOs and bankers who spoke with Bonds & Loans on a recent research trip to Nairobi.