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Law Capping interest rates
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MaichBlack
#2861 Posted : Sunday, October 20, 2019 9:33:09 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,839
Ericsson wrote:
Will the repeal in interest rates cap law have an effect on Fuliza which the president called digital shylocks

Not so much given the amounts involved and payment duration. No one wants to go to the bank to fill forms to borrow 2k which they are planning to repay in a couple of weeks.

But for lenders giving 20k and above, business will tank. Probably by more than 60%!!! I am not sure of the average amounts borrowed per transaction in fuliza but I would imagine they are hundreds to a few thousands. If it is tens of thousands (which I highly doubt), they will also be affected.
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
#2862 Posted : Sunday, October 20, 2019 9:59:59 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,839
MaichBlack wrote:
FUNKY wrote:
https://www.nation.co.ke/news/MPs-to-defy-Uhuru-over-loan-rate-caps/1056-5315586-15j4ggtz/index.html ^

Good luck to them Marshalling the required 2/3 majority!! They are just politicking and they know it. Most of these cowards will not even be in the house when the vote is taken.

CBK + Treasury + President vs MPigs!!! Good luck with that. And the President just requires 1/3 (which includes all absentees!!). Do the Math.

But I totally love this bravado!!!

I wanted to load up my kids on KCB but I have been waiting for the price to drop. No chance of that happening WHEN the interest cap is repealed. At least this noise keeps the price where it is and gives me a chance to buy before prices head north!!!
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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FUNKY
#2863 Posted : Monday, October 21, 2019 3:54:44 PM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
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Ericsson
#2864 Posted : Thursday, October 24, 2019 1:17:47 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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MaichBlack
#2865 Posted : Thursday, October 24, 2019 1:53:50 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,839
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!
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
#2866 Posted : Thursday, October 24, 2019 1:55:45 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,839
Watu wa mortgage watajua mnyambuliko wa vitenzi ni nini!!??

And selling is tough in this market!!! Hata renting out has become a problem!

For the first time ever, I have heard people successfully negotiating rents for houses they have occupied for years downwards!!! Ni kama findio ni kama dlama!!!
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: Thursday, October 24, 2019 1:58 PM | Reason: Not specified
Horton
#2867 Posted : Thursday, October 24, 2019 2:57:31 PM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?
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MaichBlack
#2868 Posted : Thursday, October 24, 2019 3:09:08 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,839
Horton wrote:
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?

I am guessing 14 days but I am not sure. They cannot sit on it!
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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Fyatu
#2869 Posted : Thursday, October 24, 2019 4:17:33 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
MaichBlack wrote:
Horton wrote:
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?

I am guessing 14 days but I am not sure. They cannot sit on it!



Immediately after recess which happens to be the first week of November.
Dumb money becomes dumb only when it listens to smart money
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Monk
#2870 Posted : Thursday, October 24, 2019 5:51:45 PM
Rank: Member

Joined: 7/1/2009
Posts: 272
Fyatu wrote:
MaichBlack wrote:
Horton wrote:
MaichBlack wrote:
Ericsson wrote:
Hon Sam Atandi @SamuelAtandi
Am now ready to support repeal of interest cap law with a singular amendment to exempt its application from the existing loans/facilities

You don't make demands from a position of weakness. They should have made the amendments much earlier when discussing the bill. The president/treasury/CBK has them by balls. Chances of them raising 2/3 majority are slim to none.

The amendment will only be done if the President wants it to be.

MPigs made the wrong move. Recovering from that move is tough!!



Is there a d-day to which this must be debated/passed?

I am guessing 14 days but I am not sure. They cannot sit on it!


Immediately after recess which happens to be the first week of November.


I thought the court gave them 12 months from date of ruling, ie March 2019?
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