Treasury CS Mbadi reaffirms Kenyan shilling stability, rejects claims of currency manipulation
National Treasury Cabinet Secretary, John Mbadi, has reaffirmed the stability of the Kenya Shilling, dismissing claims of currency manipulation and attributing its resilience to an 8 per cent rise in diaspora remittances, improved export earnings, and government reforms.
Following a visit by the Swedish Ambassador to Kenya, Håkan Åkesson, CS Mbadi, in a statement, said the steadiness of the shilling reflects prudent macroeconomic management and growing investor confidence in Kenya’s economic trajectory.
He explained that recent reforms, including the procurement of fuel through government-to-government arrangements without exclusive reliance on the US dollar, have helped ease pressure on foreign exchange.
CS Mbadi highlighted that Kenya’s economy continues to expand at a rate of approximately 5 per cent, with government plans targeting 7 per cent growth to accelerate employment creation and broaden opportunities. He attributed this upward momentum to strong performances in key sectors, which remain central to the country’s economic
