Kenya Central Bank Wants a Say in Lenders’ Dividends in 2020
- Capital adequacy to be reviewed before dividend decisions
- Central bank cites need for resilience in post-virus recovery
This article is for subscribers only.
The Central Bank of Kenya is moving to ensure lenders in the East African nation preserve capital they’ll need to help the economy recover from the coronavirus pandemic.
The institution wants lenders to discuss their capital adequacy with it before making decisions on dividend payments for this year. The directive is in a memo the central bank sent to lenders and was shared by someone with knowledge of the matter, who requested not to be identified because he isn’t authorized to make the document public.