Wazua
»
Club SK
»
Politics
»
Uhuru's own goal
Rank: User Joined: 9/6/2013 Posts: 1,446 Location: In a house
|
Wamunyota wrote:T-Bag wrote:Forgive my ignorance, mbona majuu loans interest ni single digit and the economy is ok? How do banks survive there in the US? or Federal reserve rate ni 1%???? Kuna factors nyingi zinacontribute kwa kuset up interest rate.Kwa mfano inflation,exchange rates,economic growth etc.The rate of inflation is currently about 6.5%.The CBK sets the risk free rate which is the minimum rate of interest can be charged excluding the risks. The banks then considers the risk of the clients and adds a margin to charge the customers.How the MPs determined is 4% i have no idea. ... cost of doing business.
|
|
|
Rank: Elder Joined: 3/19/2010 Posts: 3,505 Location: Uganda
|
Wamunyota wrote:newfarer wrote:T-Bag wrote:Forgive my ignorance, mbona majuu loans interest ni single digit and the economy is ok? How do banks survive there in the US? or Federal reserve rate ni 1%???? No reply to this thus uhuru made the best decision by a Kenyan president. These sharks including his own had to be tamed Hii sychophancy ya uhuru itawamaliza.Could you demontrate how this is the best decision by a kenyan president? Pole Maich,after you Bankers are done with throwing tantrums, proponents of this law will be vindicated. Ever paid a loan at 20% and felt how hard it is to remain sane? punda amecheka
|
|
|
Rank: Member Joined: 4/15/2009 Posts: 371
|
Why isn't the fuel industry collapsing or leading to an economic downturn and yet the retail prices are set by ERC?
Those saying Uhuru made a mistake by signing the bill into law are not sincere. I tend to think they hold shares in these banks and are just protecting their investments.
I will be back later.
|
|
|
Rank: Elder Joined: 3/2/2009 Posts: 26,334 Location: Masada
|
Caveman wrote:Why isn't the fuel industry collapsing or leading to an economic downturn and yet the retail prices are set by ERC?
Those saying Uhuru made a mistake by signing the bill into law are not sincere. I tend to think they hold shares in these banks and are just protecting their investments.
I will be back later. Stay in your cave as advised, raise your head at your own risk. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
|
|
|
Rank: Veteran Joined: 10/8/2008 Posts: 1,575
|
Caveman wrote:Why isn't the fuel industry collapsing or leading to an economic downturn and yet the retail prices are set by ERC?
Those saying Uhuru made a mistake by signing the bill into law are not sincere. I tend to think they hold shares in these banks and are just protecting their investments.
I will be back later. Industry is flourishing considering new entrants I have seen recently. We may just be suprised. Is the rate fixed or on reducing balance though? I care!
|
|
|
Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
|
Nandwa wrote:
Yeah, the then big banks shunned the small guy on the streets in favour of "persons" of better credit worthiness. Subsequently, interest rates were relatively ok.
Then Equity happened.
This new kid on the block treaded where others feared, but there was a catch - due to the segments risks, they put a premium on the interest they charge.
Any wonder then that even todate Equity is amongst the highest interest chargers in the market!
Seeing that the establishment's bank was not shy to charge high rates, other banks joined the dance.
And now we are where we are!
You are either a liar or drunk. Pre-2002, loan rates were not any better than now, with risky loans or not. Receive with simplicity everything that happens to you.” ― Rashi
|
|
|
Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
|
Wamunyota wrote:Baratang wrote:Can someone please tell me if we have other key players in the economy apart from the banks?
Secondly I am being told that the economy is already on its knees barely three days after the law capping interest rates was signed...does it mean all the key players in the economy are making losses?
I am a baba mboga and so far I have not noticed anything yet!
@wamunyota, please educate me on these scareconomics, otherwise, gucia ukiumaga.
Baba mboga may not be affected as yet but this is not very good for the economy. p Losers Stock Price % Gain KCB 27.00 -10.00 EQUITY 29.50 -9.92 I&M 87.00 -9.84 HFCK 13.95 -9.71 COOP 10.80 -9.6 Boss, are you against rates cap because of the stock market? Anyone remember Safaricom calling rate from 8/- to 3/-? Did they die? kuweni serious wajamaa Receive with simplicity everything that happens to you.” ― Rashi
|
|
|
Rank: Veteran Joined: 7/3/2007 Posts: 1,635
|
sitaki.kujulikana wrote:Wamunyota wrote:sitaki.kujulikana wrote:I remember when Michuki reduced the sitting/standing capacity in matatus and some thought the industry would collapse because they would not make money, or wanjiku would not afford bus fare. Banking industry is not the same as matatu industry.No one is telling wanjiku that she will have to walk to work and hang on the overcrowded trains.Brace yourselves. to those who understand the blue section, please confirm to me kama nimetusiwo  Wooi, umetukanwo, tena ile mbaya. Kama ingekuwa mimi ningeenda huko blue section na nyahunyo. Wangetambua mimi, na hiyo maneno yao ndefu. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
|
|
|
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
|
dunkang wrote:Wamunyota wrote:Baratang wrote:Can someone please tell me if we have other key players in the economy apart from the banks?
Secondly I am being told that the economy is already on its knees barely three days after the law capping interest rates was signed...does it mean all the key players in the economy are making losses?
I am a baba mboga and so far I have not noticed anything yet!
@wamunyota, please educate me on these scareconomics, otherwise, gucia ukiumaga.
Baba mboga may not be affected as yet but this is not very good for the economy. p Losers Stock Price % Gain KCB 27.00 -10.00 EQUITY 29.50 -9.92 I&M 87.00 -9.84 HFCK 13.95 -9.71 COOP 10.80 -9.6 Boss, are you against rates cap because of the stock market? Anyone remember Safaricom calling rate from 8/- to 3/-? Did they die? kuweni serious wajamaa actually it was from nahuko 32 bob Safcom is stronger today. Banks should innovate
|
|
|
Rank: Member Joined: 10/6/2009 Posts: 587
|
dunkang wrote:Nandwa wrote:
Yeah, the then big banks shunned the small guy on the streets in favour of "persons" of better credit worthiness. Subsequently, interest rates were relatively ok.
Then Equity happened.
This new kid on the block treaded where others feared, but there was a catch - due to the segments risks, they put a premium on the interest they charge.
Any wonder then that even todate Equity is amongst the highest interest chargers in the market!
Seeing that the establishment's bank was not shy to charge high rates, other banks joined the dance.
And now we are where we are!
You are either a liar or drunk. Pre-2002, loan rates were not any better than now, with risky loans or not. This @nandwa fellow has no clue what the interest rates were just before 2002...they were in the region of 35% and there were some banks who were charging 38%...you couple these with other annual hidden charges and you were at 42% to 45%!!! The sky never fell as @maichblack and @wamunyota wants us to believe will happen now.
|
|
|
Wazua
»
Club SK
»
Politics
»
Uhuru's own goal
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|