East Africa Financial Safety Net Players Meet in Mombasa for Crisis Management Workshop

East Africa Financial Safety Net Players Meet in Mombasa for Crisis Management Workshop

Top financial experts from East Africa converged in Mombasa for a five-day workshop aimed at building capacity in financial crisis management and preparedness. Hosted by the Kenya Deposit Insurance Corporation (KDIC), the event brought together delegates from the Ministry of National Treasury and Economic Planning, central banks and deposit insurance agencies from across the region, aimed at enhancing preparedness in handling potential financial crises.

In her opening remarks, Mrs. Hannah Muriithi, Chairperson of KDIC’s Board of Directors, emphasized the importance of effective crisis management and preparedness in the region’s financial sector. “Crises in the financial sector have been a source of serious disruptions, causing sharp declines in asset prices, reduced market liquidity, and widespread uncertainty,” she noted.

The Chairperson stressed the need for cross-border collaboration and information sharing as financial institutions expand across multiple jurisdictions. She further encouraged delegates to actively participate in simulation exercises designed to test crisis management strategies and responses.

“By embracing these exercises, we can build more resilient organizations, better equipped to navigate the challenges of a financial crisis,” Mrs. Muriithi added, as she officially opened the workshop.