@TheEastAfrican

How the squeeze on two fronts is hurting Kenya’s credit market - 3 Jan 2018 20:08

By: Habil Olaka

The Kenyan banking industry is caught up in a pincer movement. Conditions for lending are tighter than they were, slowing lending growth rates to two per cent currently, from 20 per cent in April 2015. And industry profits are declining. The result, for many businesses that rely on bank credit, has been the absence of critical finance during an extended hold on new business and slowed payments throughout the country’s prolonged election period. The Supreme Court nullified the outcome of the August 8 presidential elections, and ordered that the exercise be repeated (it was held again on October 26). For others, the tightening of lending has limited working capital to enable utilisation of existing capacity and forestalled expansion of capacity. All this will undoubtedly play out into the economy’s overall growth. As is becoming evident from the near-consensual downward review of the economy’s growth performance, at least in the near ...
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