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Every Kenyan in Sh63,500 debt as borrowing hurts economy

Chinese Premier Li Keqiang and President Uhuru Kenyatta after the signing of mega infrastructure deals and financing  in Nairobi.  Analysts say the State could be staring at broke coffers, making debt repayment more difficult.

By JEVANS NYABIAGE

What Kenyans are known for istheir insatiable appetite for credit.  Their love for spending is not debatable.  This explains why the Central Bank of Kenya data shows that in the nine months to September 2013, Kenyans borrowed a massive Sh389.3 billion for personal or household use.

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