What Entrepreneurs Should Know About Kenya’s New Banking Reforms
Let’s face it: entrepreneurship in Kenya is not for the faint-hearted. The hustle is real. Navigating unpredictable markets and chasing down payments is part of the daily grind for entrepreneurs. Now, just as we are catching our breath, here comes another curveball: proposed banking reforms that could shake up the financial landscape. The big question is, what do these changes mean for you—the entrepreneur who is out here grinding every day? Let us break it down and see how you can stay ahead of the game. The Core Capital Proposal: What is Changing? The government wants to raise the minimum core capital for banks from Ksh. 1 billion to Ksh. 10 billion over the next three years. Minimum core capital refers to the amount of money banks are required to…