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Nation Media Group SBM Bank and Kingdom Bank were charging the highest interest rates on personal loans by the end of last year, making them the most expensive banks in Kenya, according to the latest data from the Central Bank of Kenya (CBK). Read more HERE Login to join the discussion...
“Pending bills in Kenya and non-performing loans have been trending in the same direction for the last two years,” said the World Bank in its latest Kenya Economic Update report. Read:World Bank: Tax plans to hurt purchasing power Non-performing loans (NPLs), or loa...
The IMF disclosed last year Kenya intends to borrow $2.19 billion (Sh247 billion) through the two commercial loans in its review of government accounts that led to the release of the additional Sh29 billion under the 38-month programme. ...
“IFC’s committed investment portfolio in Kenya is predominantly in the financial, manufacturing, agribusiness, services, and infrastructure sectors. Since March 2020, IFC has provided loans worth $395 million to Kenyan companies, including the loan announced today to I&M Bank Ltd,” said the Int...
In addition, Kenya has to reduce its reliance on commercial loans which are more expensive and have shorter maturity periods. ALSO READ:Moodys Warns Kenya over its Huge Debt Appetite
Modern-day exploitation is herein implied through the low-income populous buying into the digital credit apps deliberately to survive; unconsciously they adhere to the stipulated rules and take loans mangled with high-interest rates, which they are unable to repay on time in the a...
Similarly, the institutions have recorded a surge of loans on the platforms that initially had disrupted the loan sharks business. With the new developments in the banking industry, many shylocks in the East African nation now stand no chance to get customers. ...
“Repetitive borrowing/ lending of mobile loans was common in Kenya and on average each borrower had around four mobile loans,” said the report. Common mobile loans in Kenya include M-Shwari by Safaricom, KCB-Mpesa, Tala, Branch, Saida, Haraka, Zidisha, Shika, Stawika and Barclays’ Timi...