Safaricom has to buy dollars from the market then repatriate the dividends. The dollar demand associated with this dividend payout is usually high. So this year CBK forced Safaricom to split the dividend to save the shilling from weakening,” said a banker who requested not to be identified.
“Safaricom’s growing dividend payout is now rattling the CBK. The CBK wants to avoid a repeat of last year’s pressure on the shilling when Safaricom went to the market for about $250 million to repatriate dividends.”
They (CBK) have been doing this for a long time now. There was an article Ndii wrote about it. But if the Kenya Shilling becomes more devalued, it becomes even more expensive to pay off our debts.
Panic mongering. If people were to follow your advise then you dont need election you only need bonobos to trust your word and flock to bureaus and banks to buy dollars.
Stop this Bonobo V1.0 reasoning. Kichwa ita over heat ushindwe basic functions like reasoning