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Mixed reactions to Kenya’s President Uhuru Kenyatta’s decision to approve a bill capping lending rates at no more than 400 bp above the base rate set and published by the Central Bank.
One of those rates, the CBR, currently stands at 10.5%. Many Kenyans are excited about the possibility of accessing credit at lower rates. But there are concerns about just how positive this change will be for the banking sector — and the average citizen.
Maria Galang spoke to Habil Olaka, CEO of the Kenya Bankers’ Association, about the impact of this decision.
