CBK recently gave an alarming report on the state of bank accounts in Kenya. Nearly all bank accounts or to be specific, only 0.7% of bank accounts that exist in Kenya have Kes 1Million or more, and this includes bank accounts for bigger corporates, SME business accounts, government accounts, personal accounts, foreigners living in Kenya e.t.c
Mpesa can only hold Kes 140,000, ($1,400) so where do Kenyans keep their money? Do they keep cash it in their homes, do they have just enough to survive or are we just a poor country?
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