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Law Capping interest rates
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obiero
#41 Posted : Thursday, July 28, 2016 10:04:55 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,476
Location: nairobi
enyands wrote:
obiero wrote:
enyands wrote:
researchfirst wrote:
The Financial Times' East Africa correspondent tweeted today that Manoah Esipisu (the official State House spokesman) told the paper, regarding the bill: "We believe in a free market and free market dynamics should generally apply." Seems pretty clear that the President won't sign.


There you go. You can't shoot your own foot .

Manaoh will not guide us on this one.. Kenyans are tired



Tired of mpigs ama banks clarify

Both really..
COOP 306,100 ABP 31.96, KEGN 112,100 ABP 10.64, MTNU 131,000 ABP 10.21
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enyands
#42 Posted : Thursday, July 28, 2016 10:12:49 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
obiero wrote:
enyands wrote:
obiero wrote:
enyands wrote:
researchfirst wrote:
The Financial Times' East Africa correspondent tweeted today that Manoah Esipisu (the official State House spokesman) told the paper, regarding the bill: "We believe in a free market and free market dynamics should generally apply." Seems pretty clear that the President won't sign.


There you go. You can't shoot your own foot .

Manaoh will not guide us on this one.. Kenyans are tired



Tired of mpigs ama banks clarify

Both really..


Onyesha msimamo
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Obi 1 Kanobi
#43 Posted : Thursday, July 28, 2016 10:41:07 PM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
MaichBlack wrote:
MaichBlack wrote:
President Uhuru is not going to sign that bill!!!

Any finance/economics guy will tell it would be a tragedy to individual loan seekers and SMEs.
Interest rates among other things depend on the risk profile of the client. If the rate is capped, the banks would focus on the least risky customers first - the government and blue chip companies. SMEs and individuals would follow if there is money left.

And why would I want to lend to 10,000 entities Kshs. 100,000/= each while there is a single entity (with a better risk profile) that is willing to take the entire billion???


Link: Exactly as I had said earlier. This is Finance/Economics 101. Pure common sense!!!


@maichblack. I dont see the Econ 101 you are referring to on this link. just a plea from an industry lobbyist. have you read the comments to the nonsense written by Habil Olaka. Basically what I have been saying here all along but from a wiser public grouping.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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  | | Edit by user: Thursday, July 28, 2016 10:42 PM | Reason: Not specified
Coolbull
#44 Posted : Thursday, July 28, 2016 11:04:51 PM
Rank: Member

Joined: 10/23/2007
Posts: 604
Aki bankers are liars. There is nothing like lending to a high risk borrower. Which bank in Kenya ever gives money to a borrower while doubting their ability to pay. In fact charging high interest is increasing chances of defaulting.

Unless we are talking about the vulture-nature of lenders who lend to persons who cant re-pay so that they can auction their property. That is now over.

1. Bankers are crying wolf like former TELPOSTA employees at the introduction of mobile phones.

2.The same happened with Michuki rules. So called analysts warned of increase in fares. That did not really happen. Bado kuna trip za 10bob.

3. This was the same cry regarding MPESA and Mshwari.

I wish somebody can do something about high land prices...despite being an agent. Even some wives (over)charge for landing....conditions wazimu wazimu.

Fact: Kenyans are over-charged for everything, including prayers in some churches.
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  | | Edit by user: Thursday, July 28, 2016 11:18 PM | Reason: Not specified
Pesa Nane
#45 Posted : Thursday, July 28, 2016 11:19:27 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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MaichBlack
#46 Posted : Friday, July 29, 2016 1:38:23 AM
Rank: Elder

Joined: 7/22/2009
Posts: 8,034
Obi 1 Kanobi wrote:
MaichBlack wrote:
MaichBlack wrote:
President Uhuru is not going to sign that bill!!!

Any finance/economics guy will tell it would be a tragedy to individual loan seekers and SMEs.
Interest rates among other things depend on the risk profile of the client. If the rate is capped, the banks would focus on the least risky customers first - the government and blue chip companies. SMEs and individuals would follow if there is money left.

And why would I want to lend to 10,000 entities Kshs. 100,000/= each while there is a single entity (with a better risk profile) that is willing to take the entire billion???


Link: Exactly as I had said earlier. This is Finance/Economics 101. Pure common sense!!!


@maichblack. I dont see the Econ 101 you are referring to on this link. just a plea from an industry lobbyist. have you read the comments to the nonsense written by Habil Olaka. Basically what I have been saying here all along but from a wiser public grouping.

Quote:
Individuals, small and medium sized enterprises (SMEs) who are presumed to have a higher risk of defaulting will be locked out from accessing credit if the Bill becomes law, the Kenya Bankers Association (KBA) said Thursday.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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  | | Edit by user: Friday, July 29, 2016 1:43 AM | Reason: Not specified
MaichBlack
#47 Posted : Friday, July 29, 2016 1:46:19 AM
Rank: Elder

Joined: 7/22/2009
Posts: 8,034
Pesa Nane wrote:

There you go!!!

But apparently as far as some are concerned, there are no consequences and The Central Bank is just imagining stuff like the rest of us!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#48 Posted : Friday, July 29, 2016 2:20:07 AM
Rank: Elder

Joined: 7/22/2009
Posts: 8,034
enyands wrote:
researchfirst wrote:
The Financial Times' East Africa correspondent tweeted today that Manoah Esipisu (the official State House spokesman) told the paper, regarding the bill: "We believe in a free market and free market dynamics should generally apply." Seems pretty clear that the President won't sign.


There you go. You can't shoot your own foot .let them come out of parliament and we dance the same koffi Olomide music ,hakuna mapendeleo

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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newfarer
#49 Posted : Friday, July 29, 2016 6:21:52 AM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
2.20am MaichBlack relax, this issue is giving you sleepless nights, even going to monologue mode, what's your interest?
punda amecheka
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  | | Edit by user: Friday, July 29, 2016 6:23 AM | Reason: Not specified
Mainat
#50 Posted : Friday, July 29, 2016 6:34:17 AM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Ok. So you think the president will cut his profits because some mucheneguy with nothing better to do has come up with some fancy law?
Sehemu ndio nyumba
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