KCB Group has welcomed the decision by the National Assembly
to lift the cap on interest rates.
The lender’s Chief Executive Officer (CEO) Joshua Oigara
said customers should not expect a sudden increase in the interest rates
following the amendment of the Finance Bill, 2019 to accommodate the
Repealing of interest rate cap in the country has culminated into a warning by Central Bank of Kenya (CBK) on low returns to bank owners.
Speaking during the launch of the International Monetary Fund (IMF) on regional outlook for Sub-Saharan Africa on October 28, CBK Governor
It will be another era for expensive loans in Kenya following National Assembly Finance and National Planning Committee’s decision to side with president Uhuru Kenyatta to repeal the interest rate cap.
This follows Mr. Kenyatta’s move which saw him revert the
Finance Bill 2019 to parliament detailing