Charles Mudiwa

CEO's Profile

Theme | Supporting Customers In The Coronavirus Disruption
Topic | Financial Strategies for Households
MONTH | May 2020

The outbreak of the Coronavirus Disease (Covid-19) continues to have a negative impact on businesses and customers across the country. The economic shock has slowed down the ability of enterprises to sustain their operations due to credit challenges and dwindling turnover. The situation has also occasioned a negative bearing on customers serving various facilities such as personal loans and mortgages, putting them in a precarious situation. In response to this unprecedented development, the banking industry through the Kenya Bankers Association has rolled out a raft of measures to support individuals and businesses cope with the challenge. The initiatives are meant to cushion the banking public against the difficult economic environment.

Key Messages

1.The banking industry recognises that this is a difficult economic period and is working closely with customers to explore ways by which they can be supported to cope with the disruption.

2.Beyond the regulatory measures stipulated by the Central Bank of Kenya, the industry is committed to go an extra mile to support the country’s economy by contributing to the national cause of combating the Coronavirus Disease. These include donations to the Covid-19 Emergency Response Fund.

3.The banking industry continues to work with stakeholders in both the public and private sectors to support the country navigate through the ravages of the pandemic. These include working with the National Steering Committee on Coronavirus to provide donations to families and persons in need.