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Kenyan Town With no Commercial Bank Seeks Government Intervention

Residents of a town in the country's western region have urged the government to intervene and assist in addressing the country's current financial infrastructure issue.

Kendu Bay, a settlement in the greater Nyanza Province's Homa Bay County, without a single commercial bank.

Residents have petitioned the government and private sector to explore establishing banks in the area, claiming that the town has developed into a commercial center.

Despite the fact that the town's money circulation has expanded over time, inhabitants believe they must rely on mobile banking platforms to get banking services.

They say, however, that mobile and online banking services do not ensure the safety of their funds.

"The majority of the time, we use mobile banking apps to access our funds. Others choose to carry the money with them to their homes "According to one local,

Furthermore, the homeowner added that the current scenario has increased insecurity in the town, as rogue persons break into homes looking for money kept at home.

Residents said that they are compelled to incur additional fees in order to protect their funds, noting that they must travel 32 kilometers to Homa Bay town to receive banking services.

Residents now urge the county administration to form a partnership with commercial banks in order to establish banking institutions in the town.

Content created and supplied by: Becky (via Opera News )

Commercial Bank Homa Kendu Bay Kenyan Nyanza Province


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