What are the reasons why money market is not fully developed in Kenya?

What are the reasons why money market is not fully developed in Kenya?
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1 Answer

Answer :

1. Poverty levels are high in Kenya 2. Ignorance among the citizens 3. The central bank favours capital markets rather than money markets. 4. The costs of borrowing are high hence few people borrow 5. There are superstitons about the money markets among the people. Eg many believe that loans are evil
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