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NAIROBI, KENYA: Jude Njomo, the Kenyan lawmaker who proposed the cap on commercial banks’ lending rates says he is “sure” last week’s move by the finance minister to repeal it will be defeated in parliament.
In his budget proposals for the 2018/19 (July-June) fiscal year, finance minister Henry Rotich blamed the cap for a slowdown in private sector credit growth and said it would be repealed.
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