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More than 10 local banks are in Intensive Care Unit, clutching at straws to meet Central Bank of Kenya’s high thresholds for operation even as they lose customers to bigger banks and are unable to offer loans at the capped interest rate of 13 per cent.
While the country celebrates consolidation, these banks are dying, but they can be saved by just tweaking CBK rules to give Kenyans a menu of lenders rather than just a few humongous players who will turn dictatorial in price and rates round the corner.
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