Business Daily | by Otiato Guguyu
Rich individuals and big companies saved Sh1.4 billion daily in commercial banks over the six months to September when Kenya imposed restrictions to curb the spread of the coronavirus, prompting job cuts and business closures.
Kenyan banks reported deposits worth Sh3.94 trillion from their local operations in their quarter-three results, up from Sh3.68 trillion in March, adding Sh259 billion to the lenders’ vaults over the six months.
This is an indication that wealthy individuals and firms opted to save rather than invest…
