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Authority to investigate banks over high cost of credit

IMF Managing Director Christine Lagarde (left) and Treasury Cabinet Secretary Henry Rotich  when she visited Kenya recently.  Rotich said high interest rates are strangling investment in the country. [PHOTO: KIBERA MBUGUA/STANDARD]
            IMF Managing Director Christine Lagarde (left) and Treasury Cabinet Secretary Henry Rotich  when she visited Kenya recently.  Rotich said high interest rates are strangling investment in the country. [PHOTO: KIBERA MBUGUA/STANDARD]

By NICHOLAS WAITATHU

Competition Authority of Kenya (CAK) will before the end of this month hire a consultant to conduct a market inquiry into the banking sector. This will be done in conjunction with the Kenya Financial Sector Deepening programme.

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