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Central Bank of Kenya opens new center in Kisii to ease circulation of money

Devdiscourse News Desk | Nairobi | Updated: 23-10-2020 12:11 IST | Created: 23-10-2020 12:11 IST
Central Bank of Kenya opens new center in Kisii to ease circulation of money
File Photo Image Credit: Twitter(@CBKKenya)

To ease the circulation of money in the larger South Nyanza region, the Central Bank of Kenya has opened a new center in Kisii, according to a news report by Capital Business.

The center, unveiled by President Uhuru Kenyatta Wednesday, will offer a wide range of services, among them opportunities for investment in government securities and general banking services to county governments.

The center will also eliminate the logistics of transporting money from Kisumu.

It will also serve seven counties in the region namely Kisii, Nyamira, Migori, Bomet, Homa Bay, and parts of Narok and Kericho.

According to CBK, the region has a population of over 7 million people contributing about 12 percent of Kenya's GDP.

The baker's regulator describes the new center as a state-of-the-art facility, equipped with the latest IT and currency-handling technologies.

In addition, the roof of the Centre is equipped with solar panels that generate more than adequate supply for the Centre, with the ability to feedback the excess power to the national grid.

CBK says it has over the years sought to improve access to its services across the country.

This has led to the establishment of the current network of Branches in Mombasa, Kisumu, and Eldoret and Centres namely Nyeri, Nakuru, Meru, and now Kisii.



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