End of cheap loans as Uhuru Okays scraping of Interest rate by September
2 weeks ago, 00:06
You may soon receive a notice indicating that the cost of servicing your loan has gone up, in case you borrowed money from a commercial bank. The same hand President Uhuru Kenyatta used in August 2016 to take away banks’ freedom to charge customers’ the interest rates they wanted could soon hand the power back to the lenders. Cheap credit is likely to end in September after President Kenyatta reportedly yielded to pressure from the International Monetary Fund (IMF) to either repeal or replace th ...
Category: business news