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Law Capping interest rates
Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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KulaRaha wrote:Sir invest wrote:"Masses" don't be fooled that when banks will be allowed to lend at 20%-30% interest rate, they will be trooping at your door steps to give you unsecured loans. Forget it wont happen. Banks are blackmailing the Govt. The government is borrowing at 12.5% to 13% from banks. You are also trying to borrow at the same rate from banks. Who is spoiling your chances of borrowing? Is it the banks who have choices who to lend to, or the government, who is competing with you? Be woke... Off the top of your head, what would my small business need to do to so that my loan request becomes more attractive than lending to Silkal?
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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mlennyma wrote:aemathenge wrote:Allow me to rephrase my queries.
As a publicly quoted bank shareholder watching my "wealth" slither away because Mpigs won't play "ball", what should I demand of directors and management in their handling of the Mpigs?
What should Kenya Bankers Association's next move be?
The stumbling block between "wealth" creation and banking shareholders is Mpigs. What is the panacea? banks are profitable,the price will recover Music to my ears.
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Rank: Elder Joined: 6/23/2009 Posts: 13,501 Location: nairobi
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aemathenge wrote:mlennyma wrote:aemathenge wrote:Allow me to rephrase my queries.
As a publicly quoted bank shareholder watching my "wealth" slither away because Mpigs won't play "ball", what should I demand of directors and management in their handling of the Mpigs?
What should Kenya Bankers Association's next move be?
The stumbling block between "wealth" creation and banking shareholders is Mpigs. What is the panacea? banks are profitable,the price will recover Music to my ears. @mlennyma.. Which small banks are profitable? Sidian? NBK? Family? BoA? Ecobank? KBA has no role in this debate. They are spectators just like us.. Only big banks will survive and thrive
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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obiero wrote:aemathenge wrote:mlennyma wrote:aemathenge wrote:Allow me to rephrase my queries.
As a publicly quoted bank shareholder watching my "wealth" slither away because Mpigs won't play "ball", what should I demand of directors and management in their handling of the Mpigs?
What should Kenya Bankers Association's next move be?
The stumbling block between "wealth" creation and banking shareholders is Mpigs. What is the panacea? banks are profitable,the price will recover Music to my ears. @mlennyma.. Which small banks are profitable? Sidian? NBK? Family? BoA? Ecobank? KBA has no role in this debate. They are spectators just like us.. Only big banks will survive and thrive tier 1 listed banks,all unlisted banks can die no problem "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Is it true the CS has defied parliament on fuel VAT?very soon the rate cap will be defied "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 6/23/2009 Posts: 13,501 Location: nairobi
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mlennyma wrote:Is it true the CS has defied parliament on fuel VAT?very soon the rate cap will be defied Unlikely
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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FRM2011 wrote:FRM2011 wrote:FRM2011 wrote:
Finance bill finally on the floor of the house. There are numerous amendments on the bill. Lets see how this goes.
Junet Mohamed passionately pushing for an extension of the VAT deadline to 2020. This would put on hold plans to charge VAT on petroleum products w.e.f 1st Sept 2018. PS: The speaker has ruled that the rate cap amendment cannot be discussed until treasury gives its input. Update from parliament; 1. MPs have debated and voted to retain rate capping on loans but removed the rate on savings. Worth noting the speaker had ruled the amendment cannot be discussed. 2. MPs have rejected the treasury's proposal to introduce a mandatory contribution to the national housing fund. 3. MPs have rejected the VAT on petroleum and extended the deadline to 1st Sept 2020. Fuel tax must be implemented from tomorrow: CS Rotich "According to the CS, the move to suspend implementation of the fuel tax by two years is null and void."
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Rank: Elder Joined: 6/23/2009 Posts: 13,501 Location: nairobi
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rwitre wrote:FRM2011 wrote:FRM2011 wrote:FRM2011 wrote:
Finance bill finally on the floor of the house. There are numerous amendments on the bill. Lets see how this goes.
Junet Mohamed passionately pushing for an extension of the VAT deadline to 2020. This would put on hold plans to charge VAT on petroleum products w.e.f 1st Sept 2018. PS: The speaker has ruled that the rate cap amendment cannot be discussed until treasury gives its input. Update from parliament; 1. MPs have debated and voted to retain rate capping on loans but removed the rate on savings. Worth noting the speaker had ruled the amendment cannot be discussed. 2. MPs have rejected the treasury's proposal to introduce a mandatory contribution to the national housing fund. 3. MPs have rejected the VAT on petroleum and extended the deadline to 1st Sept 2020. Fuel tax must be implemented from tomorrow: CS Rotich "According to the CS, the move to suspend implementation of the fuel tax by two years is null and void." We live in interesting times
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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obiero wrote:mlennyma wrote:Is it true the CS has defied parliament on fuel VAT?very soon the rate cap will be defied Unlikely If he goes down that road he can also "defy" robinhood tax vote.PORK may be forced to axe him when "Rotich must go" demos begin.He'll end up being a sacrifical lamb.
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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whiteowl wrote:obiero wrote:mlennyma wrote:Is it true the CS has defied parliament on fuel VAT?very soon the rate cap will be defied Unlikely If he goes down that road he can also "defy" robinhood tax vote.PORK may be forced to axe him when "Rotich must go" demos begin.He'll end up being a sacrifical lamb. Fuel sellers not increasing prices This Kenya  Wanjiku, Parliament, Fuel sellers one side CS Rotich, IMF other side - Wanjiku: doesn't want cost of living to increase - Parliament: doesn't want to anger Wanjiku, and they also have their money problems - Fuel sellers: Why increase prices yet it's just going to pay taxes, not increase profit margins? - IMF: Pushing to reduce budget deficits and increase revenue collection. - CS Rotich: "IMF has said".
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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whiteowl wrote:obiero wrote:mlennyma wrote:Is it true the CS has defied parliament on fuel VAT?very soon the rate cap will be defied Unlikely If he goes down that road he can also "defy" robinhood tax vote.PORK may be forced to axe him when "Rotich must go" demos begin.He'll end up being a sacrifical lamb. You cannot impeach someone for implementing the law. KRA has already issued a statement. Legally, both Rotich and KRA are right. The last extension in 2016 had a very specific date on the VAT Act. The effective date was 1st Sept 2018. Until the president assents to the new amendment done this week, the VAT on petroleum products takes effect today. I think the plan is to make sure the new prices take effect. Knowing Kenyans, they will make noise for a day or two and then move on. The president might return the bill to parliament and read the riot act to his minions. None of them has balls to say no to what the president says.
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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FRM2011 wrote:whiteowl wrote:obiero wrote:mlennyma wrote:Is it true the CS has defied parliament on fuel VAT?very soon the rate cap will be defied Unlikely If he goes down that road he can also "defy" robinhood tax vote.PORK may be forced to axe him when "Rotich must go" demos begin.He'll end up being a sacrifical lamb. You cannot impeach someone for implementing the law. KRA has already issued a statement. Legally, both Rotich and KRA are right. The last extension in 2016 had a very specific date on the VAT Act. The effective date was 1st Sept 2018. Until the president assents to the new amendment done this week, the VAT on petroleum products takes effect today. I think the plan is to make sure the new prices take effect. Knowing Kenyans, they will make noise for a day or two and then move on. The president might return the bill to parliament and read the riot act to his minions. None of them has balls to say no to what the president says. Word.
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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FRM2011 wrote:whiteowl wrote:obiero wrote:mlennyma wrote:Is it true the CS has defied parliament on fuel VAT?very soon the rate cap will be defied Unlikely If he goes down that road he can also "defy" robinhood tax vote.PORK may be forced to axe him when "Rotich must go" demos begin.He'll end up being a sacrifical lamb. You cannot impeach someone for implementing the law. KRA has already issued a statement. Legally, both Rotich and KRA are right. The last extension in 2016 had a very specific date on the VAT Act. The effective date was 1st Sept 2018. Until the president assents to the new amendment done this week, the VAT on petroleum products takes effect today. I think the plan is to make sure the new prices take effect. Knowing Kenyans, they will make noise for a day or two and then move on. The president might return the bill to parliament and read the riot act to his minions. None of them has balls to say no to what the president says. Mps and DPORK are up for reelection,PORK isnt.This will be a matter of self preservation.
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Rank: Elder Joined: 6/23/2009 Posts: 13,501 Location: nairobi
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whiteowl wrote:FRM2011 wrote:whiteowl wrote:obiero wrote:mlennyma wrote:Is it true the CS has defied parliament on fuel VAT?very soon the rate cap will be defied Unlikely If he goes down that road he can also "defy" robinhood tax vote.PORK may be forced to axe him when "Rotich must go" demos begin.He'll end up being a sacrifical lamb. You cannot impeach someone for implementing the law. KRA has already issued a statement. Legally, both Rotich and KRA are right. The last extension in 2016 had a very specific date on the VAT Act. The effective date was 1st Sept 2018. Until the president assents to the new amendment done this week, the VAT on petroleum products takes effect today. I think the plan is to make sure the new prices take effect. Knowing Kenyans, they will make noise for a day or two and then move on. The president might return the bill to parliament and read the riot act to his minions. None of them has balls to say no to what the president says. Mps and DPORK are up for reelection,PORK isnt.This will be a matter of self preservation. The government is broken and broke.. Trust me. The fuel levy shall stay
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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mlennyma wrote:obiero wrote:aemathenge wrote:mlennyma wrote:aemathenge wrote:Allow me to rephrase my queries.
As a publicly quoted bank shareholder watching my "wealth" slither away because Mpigs won't play "ball", what should I demand of directors and management in their handling of the Mpigs?
What should Kenya Bankers Association's next move be?
The stumbling block between "wealth" creation and banking shareholders is Mpigs. What is the panacea? banks are profitable,the price will recover Music to my ears. @mlennyma.. Which small banks are profitable? Sidian? NBK? Family? BoA? Ecobank? KBA has no role in this debate. They are spectators just like us.. Only big banks will survive and thrive tier 1 listed banks, all unlisted banks can die no problem And the way the UNAITASes are running towards that bank status??!! Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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Pesa Nane wrote:mlennyma wrote:obiero wrote:aemathenge wrote:mlennyma wrote:aemathenge wrote:Allow me to rephrase my queries.
As a publicly quoted bank shareholder watching my "wealth" slither away because Mpigs won't play "ball", what should I demand of directors and management in their handling of the Mpigs?
What should Kenya Bankers Association's next move be?
The stumbling block between "wealth" creation and banking shareholders is Mpigs. What is the panacea? banks are profitable,the price will recover Music to my ears. @mlennyma.. Which small banks are profitable? Sidian? NBK? Family? BoA? Ecobank? KBA has no role in this debate. They are spectators just like us.. Only big banks will survive and thrive tier 1 listed banks, all unlisted banks can die no problem And the way the UNAITASes are running towards that bank status??!! how far are they from being a bank ?
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Rank: Elder Joined: 6/23/2009 Posts: 13,501 Location: nairobi
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obiero wrote:wukan wrote:lochaz-index wrote:wukan wrote:winmak wrote:obiero wrote:obiero wrote:wukan wrote:obiero wrote:Quote verbatim in today's daily "Government lending up.The CBK data also shows that while private sector credit growth has fallen, banks have significantly increased their lending to government. Credit to government grew 7.1 per cent on an annualised basis at the end of March, recovering from negative growth in the second half of 2016. Credit to other public sector borrowers such as parastatals and local (county) government units grew by 28.3 per cent in the period." Full link http://www.businessdaily...993596-jvq3rx/index.html The making of a Greek tragedy. Private sector recession versus public sector big appetite. It never ends well but still early days. The free secondary education policy promise will be the end of us. GoK already asking for additional 4.8B via makiba II http://www.businessdaily...93800-t30u03/index.html
It was written kenya becomes greece https://citizentv.co.ke/...-kenya-is-broke-192961/
I hope these govt pays our mAkiba2 on 11th. ION, how does a Wanjiku protect oneself from a Greek meltdown? change money to forex? reduce liquidity to fixed assets? which assets best withstand a depression? We are still in the early days so don't worry govt will pay MAkiba. We still have favourable winds i.e. the dollar is still in weakening phase, US inflation still yet to pick up. The fan is just warming up. For wanjiku the thing is to stay in touch with your rural folks they become a source of cheap food once inflation picks up. I reckon stocks will hedge against inflation better than forex. Stocks simply reprice to keep up with inflation they do not however change a bear into a bull when a currency depreciates. Coupled with the expected dry out of inflows into a currency that is losing ground, the NSE will be in winter season. Agreed. The repricing is really what will keep food on the table for a middle class wanjiku. There are no fundamentals for a bull run electricity and cement consumption growth rates already show weakness. Kaza mishipi na chunga mifuko Kaza mishipi na chunga mifuko
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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Copy and Paste Extract: Quote:Hope for banks as Rotich says interest cap will be revisited
National Treasury Cabinet Secretary Henry Rotich has announced that the government is planning to “revisit” the interest rate capping law in a move that he argues will support economic growth by reviving lending to the private sector.
If introduced and adopted by the National Assembly, the changes to the Banking Act will boost the profitability of banks. https://www.nation.co.ke...67642-3lt8qs/index.html
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Rank: Elder Joined: 12/4/2009 Posts: 10,678 Location: NAIROBI
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obiero wrote:obiero wrote:wukan wrote:lochaz-index wrote:wukan wrote:winmak wrote:obiero wrote:obiero wrote:wukan wrote:obiero wrote:Quote verbatim in today's daily "Government lending up.The CBK data also shows that while private sector credit growth has fallen, banks have significantly increased their lending to government. Credit to government grew 7.1 per cent on an annualised basis at the end of March, recovering from negative growth in the second half of 2016. Credit to other public sector borrowers such as parastatals and local (county) government units grew by 28.3 per cent in the period." Full link http://www.businessdaily...993596-jvq3rx/index.html The making of a Greek tragedy. Private sector recession versus public sector big appetite. It never ends well but still early days. The free secondary education policy promise will be the end of us. GoK already asking for additional 4.8B via makiba II http://www.businessdaily...93800-t30u03/index.html
It was written kenya becomes greece https://citizentv.co.ke/...-kenya-is-broke-192961/
I hope these govt pays our mAkiba2 on 11th. ION, how does a Wanjiku protect oneself from a Greek meltdown? change money to forex? reduce liquidity to fixed assets? which assets best withstand a depression? We are still in the early days so don't worry govt will pay MAkiba. We still have favourable winds i.e. the dollar is still in weakening phase, US inflation still yet to pick up. The fan is just warming up. For wanjiku the thing is to stay in touch with your rural folks they become a source of cheap food once inflation picks up. I reckon stocks will hedge against inflation better than forex. Stocks simply reprice to keep up with inflation they do not however change a bear into a bull when a currency depreciates. Coupled with the expected dry out of inflows into a currency that is losing ground, the NSE will be in winter season. Agreed. The repricing is really what will keep food on the table for a middle class wanjiku. There are no fundamentals for a bull run electricity and cement consumption growth rates already show weakness. Kaza mishipi na chunga mifuko Kaza mishipi na chunga mifuko Already indications are that Rotich will fail to hit the targets on the memorandum. Things are gonna get worse. Moi's regime will look like a joke Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,501 Location: nairobi
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Ericsson wrote:obiero wrote:obiero wrote:wukan wrote:lochaz-index wrote:wukan wrote:winmak wrote:obiero wrote:obiero wrote:wukan wrote:obiero wrote:Quote verbatim in today's daily "Government lending up.The CBK data also shows that while private sector credit growth has fallen, banks have significantly increased their lending to government. Credit to government grew 7.1 per cent on an annualised basis at the end of March, recovering from negative growth in the second half of 2016. Credit to other public sector borrowers such as parastatals and local (county) government units grew by 28.3 per cent in the period." Full link http://www.businessdaily...993596-jvq3rx/index.html The making of a Greek tragedy. Private sector recession versus public sector big appetite. It never ends well but still early days. The free secondary education policy promise will be the end of us. GoK already asking for additional 4.8B via makiba II http://www.businessdaily...93800-t30u03/index.html
It was written kenya becomes greece https://citizentv.co.ke/...-kenya-is-broke-192961/
I hope these govt pays our mAkiba2 on 11th. ION, how does a Wanjiku protect oneself from a Greek meltdown? change money to forex? reduce liquidity to fixed assets? which assets best withstand a depression? We are still in the early days so don't worry govt will pay MAkiba. We still have favourable winds i.e. the dollar is still in weakening phase, US inflation still yet to pick up. The fan is just warming up. For wanjiku the thing is to stay in touch with your rural folks they become a source of cheap food once inflation picks up. I reckon stocks will hedge against inflation better than forex. Stocks simply reprice to keep up with inflation they do not however change a bear into a bull when a currency depreciates. Coupled with the expected dry out of inflows into a currency that is losing ground, the NSE will be in winter season. Agreed. The repricing is really what will keep food on the table for a middle class wanjiku. There are no fundamentals for a bull run electricity and cement consumption growth rates already show weakness. Kaza mishipi na chunga mifuko Kaza mishipi na chunga mifuko Already indications are that Rotich will fail to hit the targets on the memorandum. Things are gonna get worse. Moi's regime will look like a joke It would make divine sense to suspend the big four agenda
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Law Capping interest rates
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