Central Bank of Kenya has released shocking revelations about Kenyans and banking.
According to a post on Twitter, CBK revealed that only 0.7 percent of Kenyans have more than a million in their bank accounts.
Revelations point out that either 99.3 percent of Kenyans are broke, and cannot afford a decent lifestyle of millionaires.
The other import of the post is that maybe Kenyans do not trust banks with their monies and do ‘bed’ banking.
The Government came up with stringent rules that individuals have to declare the source and destination of money more than Sh 1 million.
These regulations could also be a reasons why a majority Kenyans are shunning financial institutions.
