This archive report was first published on 24 September 2019.
On September 24, 2019, the Central Bank of Kenya (CBK) sounded the alarm over a significant increase in cash wheat buyers in Narok, a development that has raised concerns about the potential for money laundering.
The CBK has been monitoring the situation closely, and its concerns are centered around the fact that many of these buyers are paying cash for wheat, a practice that is often associated with illicit financial transactions.
The Narok wheat trade has been a significant contributor to the country's economy, with many farmers relying on it as a major source of income. However, the CBK's warning has sparked fears that the trade may be vulnerable to exploitation by those seeking to launder dirty money.
