Battle lines drawn ahead of crucial vote on interest rates

Lawmakers have claimed some of their colleagues have been offered trips out of Nairobi as a scheme to deny Parliament the requisite numbers to shoot down President Uhuru Kenyatta's proposal to remove caps on interest rates next week.

Some MPs claimed that "powerful forces" have conspired to ensure that Parliament does not marshal the two-thirds majority necessary to overturn Uhuru's memorandum, through hastily organised trips for their colleagues outside the city. 

Chairmen and vice-chairmen of committees have also been threatened with removal from leadership positions if they do not toe the line to support the president's cause.

The claims emerged even as Leader of Majority in the House, Aden Duale (above), dared MPs supporting the capping to override the President's wishes.

He challenged the MPs to read the President's reasons for proposing interest controls introduced in 2016.

“Those claiming that they will shoot down the bill should read the President's reasons. It is clear that the cap has not served the purpose it was meant to serve; that of making loans less expensive. Let us have a sober discussion on the issue of interest rates, which have denied small scale business loans. As the Majority leader, I’m ready for them. Nimejipanga (I have planned well). It will not happen under Uhuru’s watch,” said the Garissa Township MP.

But MPs supporting the caps claimed that trips have already been approved for some of their colleagues to coincide with the voting day.

“I’m being told that people are being issued with trips outside the city so that we don’t have the numbers on the day. If there are any trips out of Nairobi, they should be stopped,” said Deputy Minority Whip Chris Wamalwa.

"We cannot allow banks to continue making abnormal profits. There is a narrative that SMEs are not getting loans. The problem is the government which has been borrowing heavily from the local market. The President should re-examine his position. As Parliament, we will vote with the conscience of every member," he added.

Marakwet East MP, Kangogo Bowen said: “They have called chairmen and vice-chairmen of committees and instructed them to support the bill, short of which there will be consequences. People are being offered trips and being told that they must submit reports within a certain period,” said.

On Tuesday, the Finance Committee tabled a report agreeing with the president's proposals. It is this report that MPs will vote on.

Kenyans are concerned that removing the controls will see interest rates hit the roof, denying them cheaper loans.

Kiambu Town MP Jude Njomo, who first introduced the caps, said there is "spontaneous" support to maintain the interest controls, and condemned what he called a "conspiracy by banks to fleece Kenyans through high-interest rates".