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Ukraine war sees importers default on loan payments

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Equity Group chief executive James Mwangi (right). [Wilberforce Okwiri, Standard]

Cash-strained importers have began defaulting on their loan obligations due to the ongoing Russia-Ukraine war. 

Equity Group chief executive James Mwangi said that increased prices of wheat, a bulk of which comes from the two warring countries, had made some traders struggle to service their loans. 

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