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AfricaFebruary 15 2021

Kenya’s banks set for another bumpy year

Large government debt and vulnerability to external shocks could derail the banking sector’s recovery in 2021. 
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Kenya’s banks set for another bumpy year

Kenya’s economy, like many others around the world, has been hammered by Covid-19 as lockdown restrictions squeeze revenues and hamper growth.

The east African country’s economy shrank 1.1% year on year in the third quarter of 2020, compared with growth of 5.8% during the same period in 2019, as the pandemic slashed tourist arrivals.

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