Kenya’s borrowing costly, experts warn

Getting out of debt and escaping financial problems as a person climbing with a ladder from bankruptcy and budget stress with 3D illustration elements.

Experts have warned that Kenya is getting a raw deal in its desperation to borrow funds for projects, including higher interest rates and shorter repayment periods.

Institute of Economic Affairs (IEA), an independent think-tank, expressed its concerns yesterday, noting that costlier loans mean an even bigger repayment burden.