×
App Icon
The Standard e-Paper
Read Offline Anywhere
★★★★ - on Play Store
Download Now

Tough economic times cuts SME led agency banking transactions

Vocalize Pre-Player Loader

Audio By Vocalize

Banks agent shop serving customers on Nov 16, 2020. [Jonah Onyango, Standard]

Transactions done by banking agents dipped with cash deposits reducing by almost 10 per cent, signalling the tough economic period that shadowed the better part of the year, a new report shows.

The latest Bank Supervision Annual Report 2023 by the Central Bank of Kenya (CBK) shows a drop in cash deposits, withdrawals and transfer of funds transactions done through agent banking.

Get Full Access for Ksh299/Week.
Uncover the stories others won’t tell. Subscribe now for exclusive access
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in
By AFP 15 hrs ago
Premier League
Pereira 'trusts' Forest owner Marinakis despite three sackings this season
By AFP 15 hrs ago
Football
Mexico prepares for possible drone threats during the World Cup
By AFP 15 hrs ago
Premier League
Arteta welcomes Madueke and Saka's competition for places
By AFP 15 hrs ago
Football
Barcelona's Raphinha blasts La Liga refereeing double standards