Tag: commercial lending

President Uhuru rejects rate cap – how will this impact Kenyan banks?

President Uhuru Kenyatta rejected to approve the Finance Bill and further asked Members of Parliament to scrap commercial lending rate caps that critics say have led to a credit squeeze. To overturn the President’s memorandum, MPs require to marshall a two-thirds majority by 10th of October when they resume their sessions. Reginald Kadzutu, Economic Analyst joins CNBC Africa for more.