×
App Icon
The Standard e-Paper
Informed Minds Prefer The Standard
★★★★ - on Play Store
Download Now

Reality check as downside of interest rate capping law dawns on borrowers

Central Bank of Kenya Governor Dr. Patrick Njoroge. (Photo:Elvis Ogina/Standard)

When President Uhuru Kenyatta signed a Bill restricting banks from charging more than four percentage points above Central Bank’s indicative rate for borrowing into law, *Peter was over the moon.

His company had just won a tender to put murram on a road in one of the counties, but he did not have the money to undertake the lucrative venture.

Get Full Access for Ksh299/Week
Uncover the stories others won’t tell. Subscribe now for exclusive access
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in