Savings and credit societies have been asked to adjust their lending rates upwards so as to prevent erosion of their savings, in light of the current high interest regime. Cooperatives minister, Joseph Nyaga, warns that Saccos might plunge into cash flow problems in the near future due to the fact that they borrow from commercial banks at higher interest rates, than they lend out.
Sacco interest rates should be adjusted - Minister
Living
By | 13 years ago | 1 Min read
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