How banks and customers are navigating high-interest rates

Interest rate increments come at a time when the high cost of living is already squeezing Kenyans hard. [iStockphoto]

In recent months, banks have steadily increased the cost of loans, leaving borrowers with a massive debt servicing burden.

The higher interest rates could not have come at a worse time when Kenyans are grappling with the high cost of living.