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| A house under construction along Thika road. Kenya continues to experience serious housing shortage. [PHOTO: WILBERFORCE OKWIRI/STANDARD] |
Nairobi; Kenya: The Government is negotiating with local banks to reduce the interest lenders charge on mortgages to single digits, as authorities try to make purchasing a home affordable in East Africa’s biggest economy.
Deputy President William Ruto said talks with the banks were underway, without giving a specific timeline within which the government wants the single-digit interest rates to be achieved, according to his spokesman, David Mugonyi.
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