Kenya is in talks with the World Bank and European Union to ramp up its “Hustler Fund” project that is already providing cheap credit to more than 20 million of the country’s poor. A top government official said the World Bank was discussing backing that could amount to as much as 20 billion shillings ($139 million), including via an existing program to support small enterprises. Combined with investments from the Treasury, this could leverage lending of 200 billion shillings over the next...

Safaricom Plc’s popular payments platform M-Pesa was offline on Thursday, affecting mobile-money transfers and payments to Kenyan companies including major banks and utilities. Standard Chartered Bank Kenya Ltd., Absa Bank Kenya Plc, NCBA Group Plc and Kenya Power Plc said M-Pesa payments and transfers were unavailable. “We are experiencing a system hitch due to a network breakdown from our service provider,” Kenya Power said in an alert to customers. NCBA told its clients “M-Pesa services...

Kenya’s President William Ruto nominated Kamau Thugge as the nation’s central bank governor, as he looks to boost an economy reeling from sticky inflation and a weakening currency. Ruto sent his decision to parliament, according to a statement from his office. If approved by lawmakers, Thugge will replace Patrick Njoroge, whose second and final four-year term as head of the Central Bank of Kenya expires on June 17.

Six candidates are vying to succeed Patrick Njoroge as the governor of Kenya’s central bank, a changeover that comes as the East African nation contends with stubbornly high inflation and a depreciating currency. Njoroge’s second and final four-year term as head of the Central Bank of Kenya expires on June 17 and the nation’s public service commission is assessing the credentials of potential replacements. It will send a final list of three names to President William Ruto, who will make his...

Kenya’s Public Service Commission will interview six short-listed candidates on May 9 to fill the post of central bank governor, according to a statement on its website. Former central bank deputies Haron Sirima and Edward Sambili are among six candidates shortlisted to replace Patrick Njoroge, whose second and final four-year term ends in June. The two men were also considered for the job in 2015, which Njoroge got. Sirima currently heads the nation’s debt management office. The other...