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Law Capping interest rates
obiero
#2501 Posted : Thursday, June 14, 2018 8:50:51 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
Ericsson
#2502 Posted : Friday, June 15, 2018 10:22:01 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
obiero wrote:
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo


And GOK intends to borrow heavily from the domestic market
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
winmak
#2503 Posted : Friday, June 15, 2018 10:29:24 AM
Rank: Member


Joined: 12/1/2007
Posts: 537
Location: Nakuru
obiero wrote:
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo


Widest disparity in budgets are seen in a pre an immediate post election budget. All populist measures must go
For investors as a whole, returns decrease as motion increases ~ WB
Monk
#2504 Posted : Friday, June 15, 2018 10:58:36 AM
Rank: Member


Joined: 7/1/2009
Posts: 245
winmak wrote:
obiero wrote:
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo


Widest disparity in budgets are seen in a pre an immediate post election budget. All populist measures must go


It's going to be interesting to see how the SME sector deals with the latest blow, the presumptive tax in Jan 2019, to be able to renew their Business permits. They still have no access to credit from Banks to pay the tax upfront.
obiero
#2505 Posted : Friday, June 15, 2018 11:02:18 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
Monk wrote:
winmak wrote:
obiero wrote:
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo


Widest disparity in budgets are seen in a pre an immediate post election budget. All populist measures must go


It's going to be interesting to see how the SME sector deals with the latest blow, the presumptive tax in Jan 2019, to be able to renew their Business permits. They still have no access to credit from Banks to pay the tax upfront.

Plus when withdrawing KES 500,000 or more the government will keep 0.05% as Robin Hood tax! WTF! Meanwhile, rate cap is here to stay. All the noise being made is deflectionary to keep IMF happy

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
mwekez@ji
#2506 Posted : Friday, June 15, 2018 12:59:30 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
obiero wrote:
Monk wrote:
winmak wrote:
obiero wrote:
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo


Widest disparity in budgets are seen in a pre an immediate post election budget. All populist measures must go


It's going to be interesting to see how the SME sector deals with the latest blow, the presumptive tax in Jan 2019, to be able to renew their Business permits. They still have no access to credit from Banks to pay the tax upfront.

Plus when withdrawing KES 500,000 or more the government will keep 0.05% as Robin Hood tax! WTF! Meanwhile, rate cap is here to stay. All the noise being made is deflectionary to keep IMF happy


The Robin Hood Tax of 0.05% is to apply in transfers of money. Not on withdrawal.

In respect to repeal of interest rate caps, it's only parliament which is not supporting it. These caps have killed access to credit for SMEs and mwananchi.
mwekez@ji
#2507 Posted : Friday, June 15, 2018 1:09:01 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
mwekez@ji wrote:
obiero wrote:
Monk wrote:
winmak wrote:
obiero wrote:
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo


Widest disparity in budgets are seen in a pre an immediate post election budget. All populist measures must go


It's going to be interesting to see how the SME sector deals with the latest blow, the presumptive tax in Jan 2019, to be able to renew their Business permits. They still have no access to credit from Banks to pay the tax upfront.

Plus when withdrawing KES 500,000 or more the government will keep 0.05% as Robin Hood tax! WTF! Meanwhile, rate cap is here to stay. All the noise being made is deflectionary to keep IMF happy


The Robin Hood Tax of 0.05% is to apply in transfers of money. Not on withdrawal.

In respect to repeal of interest rate caps, it's only parliament which is not supporting it. These caps have killed access to credit for SMEs and mwananchi.


And this Robin Hood tax should have been set from 1M and above. 500,000/- is quite low
obiero
#2508 Posted : Friday, June 15, 2018 1:19:53 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
mwekez@ji wrote:
mwekez@ji wrote:
obiero wrote:
Monk wrote:
winmak wrote:
obiero wrote:
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo


Widest disparity in budgets are seen in a pre an immediate post election budget. All populist measures must go


It's going to be interesting to see how the SME sector deals with the latest blow, the presumptive tax in Jan 2019, to be able to renew their Business permits. They still have no access to credit from Banks to pay the tax upfront.

Plus when withdrawing KES 500,000 or more the government will keep 0.05% as Robin Hood tax! WTF! Meanwhile, rate cap is here to stay. All the noise being made is deflectionary to keep IMF happy


The Robin Hood Tax of 0.05% is to apply in transfers of money. Not on withdrawal.

In respect to repeal of interest rate caps, it's only parliament which is not supporting it. These caps have killed access to credit for SMEs and mwananchi.


And this Robin Hood tax should have been set from 1M and above. 500,000/- is quite low

So a transfer is not a withdrawal in your world?

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
mwekez@ji
#2509 Posted : Friday, June 15, 2018 1:24:56 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
obiero wrote:
mwekez@ji wrote:
mwekez@ji wrote:
obiero wrote:
Monk wrote:
winmak wrote:
obiero wrote:
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo


Widest disparity in budgets are seen in a pre an immediate post election budget. All populist measures must go


It's going to be interesting to see how the SME sector deals with the latest blow, the presumptive tax in Jan 2019, to be able to renew their Business permits. They still have no access to credit from Banks to pay the tax upfront.

Plus when withdrawing KES 500,000 or more the government will keep 0.05% as Robin Hood tax! WTF! Meanwhile, rate cap is here to stay. All the noise being made is deflectionary to keep IMF happy


The Robin Hood Tax of 0.05% is to apply in transfers of money. Not on withdrawal.

In respect to repeal of interest rate caps, it's only parliament which is not supporting it. These caps have killed access to credit for SMEs and mwananchi.


And this Robin Hood tax should have been set from 1M and above. 500,000/- is quite low

So a transfer is not a withdrawal in your world?

To me transfer is TT, RTGS, EFT, etc. Over the counter withdrawal does not qualify in my world as a transfer
Baratang
#2510 Posted : Friday, June 15, 2018 1:38:43 PM
Rank: Member


Joined: 10/6/2009
Posts: 587
mwekez@ji wrote:
obiero wrote:
Monk wrote:
winmak wrote:
obiero wrote:
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo


Widest disparity in budgets are seen in a pre an immediate post election budget. All populist measures must go


It's going to be interesting to see how the SME sector deals with the latest blow, the presumptive tax in Jan 2019, to be able to renew their Business permits. They still have no access to credit from Banks to pay the tax upfront.

Plus when withdrawing KES 500,000 or more the government will keep 0.05% as Robin Hood tax! WTF! Meanwhile, rate cap is here to stay. All the noise being made is deflectionary to keep IMF happy


The Robin Hood Tax of 0.05% is to apply in transfers of money. Not on withdrawal.

In respect to repeal of interest rate caps, it's only parliament which is not supporting it. These caps have killed access to credit for SMEs and mwananchi.


@Mwekez@ji...I think you don't live in Kenya my fren. Just go down to the roots and ask the people individually and you will see how how much of an analyst you aresmile smile
obiero
#2511 Posted : Friday, June 15, 2018 1:40:55 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
mwekez@ji wrote:
obiero wrote:
mwekez@ji wrote:
mwekez@ji wrote:
obiero wrote:
Monk wrote:
winmak wrote:
obiero wrote:
murchr wrote:
mlennyma wrote:
Dead,burial plans underway


Laughing out loudly Laughing out loudly


Not soo fast. Hold on and observe. Hapa ndio watu hupigwa kumbo


Widest disparity in budgets are seen in a pre an immediate post election budget. All populist measures must go


It's going to be interesting to see how the SME sector deals with the latest blow, the presumptive tax in Jan 2019, to be able to renew their Business permits. They still have no access to credit from Banks to pay the tax upfront.

Plus when withdrawing KES 500,000 or more the government will keep 0.05% as Robin Hood tax! WTF! Meanwhile, rate cap is here to stay. All the noise being made is deflectionary to keep IMF happy


The Robin Hood Tax of 0.05% is to apply in transfers of money. Not on withdrawal.

In respect to repeal of interest rate caps, it's only parliament which is not supporting it. These caps have killed access to credit for SMEs and mwananchi.


And this Robin Hood tax should have been set from 1M and above. 500,000/- is quite low

So a transfer is not a withdrawal in your world?

To me transfer is TT, RTGS, EFT, etc. Over the counter withdrawal does not qualify in my world as a transfer

Agreed. A transfer can be a withdrawal unless it’s OTC. Semantics aside, it’s even worse to charge transfers due to duplicity, than OTC payment which are mostly one off for such sums. Plus 500K for upper SME is a figure that can be sighted every one to two weeks as turnover but not profit. Costs of goods may be pushed up to accommodate the Robin Hood maneno

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
RIEK01
#2512 Posted : Friday, June 15, 2018 2:57:11 PM
Rank: New-farer


Joined: 2/8/2018
Posts: 73
Robbery in the hood..
obiero
#2513 Posted : Saturday, June 16, 2018 10:30:22 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
RIEK01 wrote:
Robbery in the hood..

The repeal will cripple us. We better live with the current interest rates. Those who can qualify wapewe! Sisi wengine Mungu atatulinda

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
jgithige
#2514 Posted : Saturday, June 16, 2018 11:02:18 AM
Rank: Member


Joined: 7/10/2014
Posts: 145
Location: Nairobi
obiero wrote:
RIEK01 wrote:
Robbery in the hood..

The repeal will cripple us. We better live with the current interest rates. Those who can qualify wapewe! Sisi wengine Mungu atatulinda


Problem lies with unending appetite from our govt to borrow internally, they have crowded out the SMEs and to some extent corporate. Banks are enjoyin lendin to the risk free Govt. Interest capping would have worked if the govt was not a major player in domestic borrowing. Banks would be hawking their loans like jungu-karanga.
"Blowing out someone else candle won't make yours shine brighter"-Anonymous
mlennyma
#2515 Posted : Saturday, June 16, 2018 11:07:39 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,173
Location: nairobi
obiero wrote:
RIEK01 wrote:
Robbery in the hood..

The repeal will cripple us. We better live with the current interest rates. Those who can qualify wapewe! Sisi wengine Mungu atatulinda

Some will oppose but i don't think the president can be intimidated by any jubilee person on his agenda
"Don't let the fear of losing be greater than the excitement of winning."
Ericsson
#2516 Posted : Saturday, June 16, 2018 11:30:31 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,628
Location: NAIROBI
jgithige wrote:
obiero wrote:
RIEK01 wrote:
Robbery in the hood..

The repeal will cripple us. We better live with the current interest rates. Those who can qualify wapewe! Sisi wengine Mungu atatulinda


Problem lies with unending appetite from our govt to borrow internally, they have crowded out the SMEs and to some extent corporate. Banks are enjoyin lendin to the risk free Govt. Interest capping would have worked if the govt was not a major player in domestic borrowing. Banks would be hawking their loans like jungu-karanga.


True but interest rates cap law was not for the ordinary citizen.
It was GOK to borrow more at cheap rates and waste more
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
wukan
#2517 Posted : Saturday, June 16, 2018 11:34:51 AM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,567
mlennyma wrote:
obiero wrote:
RIEK01 wrote:
Robbery in the hood..

The repeal will cripple us. We better live with the current interest rates. Those who can qualify wapewe! Sisi wengine Mungu atatulinda

Some will oppose but i don't think the president can be intimidated by any jubilee person on his agenda


Did you notice the loud mumbling when CS Rotich mentioned the proposed repeal? Ain't happening brosmile This was more to tell the IMF we tried but the cow refused. Stay tuned for scenes from the next episodesmile
wukan
#2518 Posted : Saturday, June 16, 2018 11:41:38 AM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,567
Ericsson wrote:
jgithige wrote:
obiero wrote:
RIEK01 wrote:
Robbery in the hood..

The repeal will cripple us. We better live with the current interest rates. Those who can qualify wapewe! Sisi wengine Mungu atatulinda


Problem lies with unending appetite from our govt to borrow internally, they have crowded out the SMEs and to some extent corporate. Banks are enjoyin lendin to the risk free Govt. Interest capping would have worked if the govt was not a major player in domestic borrowing. Banks would be hawking their loans like jungu-karanga.


True but interest rates cap law was not for the ordinary citizen.
It was GOK to borrow more at cheap rates and waste more


There is also a theory that the rate cap law was a bank bailout.
obiero
#2519 Posted : Saturday, June 16, 2018 12:26:38 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
wukan wrote:
Ericsson wrote:
jgithige wrote:
obiero wrote:
RIEK01 wrote:
Robbery in the hood..

The repeal will cripple us. We better live with the current interest rates. Those who can qualify wapewe! Sisi wengine Mungu atatulinda


Problem lies with unending appetite from our govt to borrow internally, they have crowded out the SMEs and to some extent corporate. Banks are enjoyin lendin to the risk free Govt. Interest capping would have worked if the govt was not a major player in domestic borrowing. Banks would be hawking their loans like jungu-karanga.


True but interest rates cap law was not for the ordinary citizen.
It was GOK to borrow more at cheap rates and waste more


There is also a theory that the rate cap law was a bank bailout.

@wukan explain with aid of a diagram

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
obiero
#2520 Posted : Saturday, June 16, 2018 6:22:34 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,464
Location: nairobi
Inconsistent governance https://www.businessdail...3526-14loa2mz/index.html

HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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