Ericsson wrote:maka wrote:wukan wrote:Wakanyugi wrote:watesh wrote:Spikes wrote:mkeiy wrote:Obi 1 Kanobi wrote:Everyone is hearing what they want to hear.
The president did not regret capping the bank rates, he said the lack of credit flow to SME's was an unfortunate consequence which he will work on. "work on" in my opinion does not equate to reversing the capping law (which by the way he can't even if he wanted to)
Let him use other means for example reduce the govt appetite for borrowing from the domestic market.
Rate~cap days are numbered. No matter how deep the ostrich sinks its head in the bloody sand.
HERECS Rotich's take as of yesterday 27th MarchTreasury secretary Henry Rotich yesterday said the government is mulling reviewing the caps in the wake of a sharp decline in credit growth.
“We are monitoring the situation very closely. This will inform our next course of action, including reviewing the caps if that’s necessary,” said Mr Rotich in a separate event.
mtangoja sanaaaaaaa
This thing wont be reversed before elections....the signing was a political move
Banksters pining for the bad old days of buccaneer banking need to get over their misplaced sense importance.
Banks are fine just preserving shareholders capital and buying govt bonds
We just learned from the recent strike that Kenyans can do without Doctors.
Health care and Credit is like apples and mangoesWanjiku has survived very well without bank credit.
Most mobile loans are borrowed at 4am by wanjiku mama mbogas so Wanjiku prefers expensive mobile credit to no credit Thanks to M-akiba the government is about to show it can do the same.
150 million is not even enough to fill Kabura's gunias And you fellows still think you are gods gift to the nation? Get real.
Chill God loves you Someone said m akina could be a game changer if handled well...the govt can be borrowing at 10% or lower what alternative will banks be left with?
M-Akiba can't be a game changer.Wanjiku has no money to sustain GoK appetite for borrowing.
Money is with HNWI,Institutions and Foreign Investors
Famous last words.
Consider:
1. The take up of M-Akiba is defying all expectations, high as they were. Rotich even wants to change the law to allow bigger transactions through Mpesa, to wit - COMPETION
2. The CBK Governor has lifted the moratorium on registering new banks - COMPETITION
3. I expect the ceiling on bank capitalization to be raised within the year; expect M&A action in the banking sector to heat up - CONSOLIDATION/COMPETITION
And, if the above still does not get to you, maybe this will:
The new constitution has not only limited the governments power of fiat, it has also introduced a new power center, in peoples activism. If banks wanted the cap lifted, the crude arm twisting, way they are going about it is exactly the wrong way. You don't believe me? Wait for KOT to get involved.
Then there is this reality - banks have been screwing Wanjiku and SME's for eons. Threatening to screw them even more, unless the cap is lifted, is like asking a condemned man to chose between death by drowning and death by hanging.
"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)