Treasury’s insatiable appetite for loans crowds out private sector

Central Bank Of Kenya Building on Haile Selasie Road, Nairobi. [Wilberforce Okwiri, Standard]

One of the first miracles that former President Mwai Kibaki performed when he rose to power in 2003 was to turn some well-groomed bankers into hawkers.

They were seen pitching tents along the dusty streets of Nairobi peddling loans to a languid crowd.