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Banks increase loan rates & tariffs!
Rank: New-farer Joined: 12/1/2014 Posts: 45 Location: Nairobi
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MaichBlack wrote:kangi wrote:Boris Boyka wrote:MaichBlack wrote:PeterReborn wrote:HaMaina wrote:Another big problem is that we forget like chickens. Anything can happen, we can be ripped off, see kipande soaps for 35,000 a bar,facebook acc for 2 million etc and during elections campaigns a few sweet maendeleo words and we jump to the ballots to vote them back like cows on heat. We should individually look at the mirror and slap ourselves The other problem is that they are all monkeys and its difficult to select a less monkey. True dat!!! All of these brare gaskets are recycled monkeys that you have to choose between the worse and the worst monkey. And in most cases there is no difference!!!  To kill a tree you destroy the roots, To ensure a tree survives you water the roots. Kenyans have to begin accountability at counties and departments then drive it up. Wrong approach my broda. Counties receive around 15% of the Revenue. Should we start following 15% or ensure the 85% is well acounted for and send a message to the counties? My hypothesis is Central gaament is where the issue should be addressed from. Why not do both concurrently? Not possible??? We need to pass and enforce Chinese style anti corruption laws!!! Hang corrupt idiots - senior to junior - and corruption will be a thing of the past!! You just be corrupt but the day we catch up with you, we hang you!!! People will think twice - nay, make that a hundred times - before engaging in corrupt deals. But we have given waizi wa miwa (Or is it waheshimiwa?) too much power and they will never pass such laws because they would be the first ones to be hang!!!  Hmmm @Maichblack, well put. The sure way of eradicating the corruption disease is stricter laws that ought be enforced to the letter #chinesestyle. We need laws with provisions such like once caught you pay double what you'll have stolen and you get checked in for minimum 50+ years. The challenge is will they pass such a law? Its the we the electrorate that will be the gamechangers, by electing 'sober' people with a futuristic statemanship. The impact of whatever evils they commit comes back to haunt us. Its we to acess the loans at the high rates as for them they have negotiated rates hence no impact and should they feel the impact they will as usual gang' up to review their damn packages.
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Rank: Member Joined: 9/11/2014 Posts: 228 Location: Nairobi
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Emerger wrote:MaichBlack wrote:kangi wrote:Boris Boyka wrote:MaichBlack wrote:PeterReborn wrote:HaMaina wrote:Another big problem is that we forget like chickens. Anything can happen, we can be ripped off, see kipande soaps for 35,000 a bar,facebook acc for 2 million etc and during elections campaigns a few sweet maendeleo words and we jump to the ballots to vote them back like cows on heat. We should individually look at the mirror and slap ourselves The other problem is that they are all monkeys and its difficult to select a less monkey. True dat!!! All of these brare gaskets are recycled monkeys that you have to choose between the worse and the worst monkey. And in most cases there is no difference!!! To kill a tree you destroy the roots, To ensure a tree survives you water the roots. Kenyans have to begin accountability at counties and departments then drive it up. Wrong approach my broda. Counties receive around 15% of the Revenue. Should we start following 15% or ensure the 85% is well acounted for and send a message to the counties? My hypothesis is Central gaament is where the issue should be addressed from. Why not do both concurrently? Not possible??? We need to pass and enforce Chinese style anti corruption laws!!! Hang corrupt idiots - senior to junior - and corruption will be a thing of the past!! You just be corrupt but the day we catch up with you, we hang you!!! People will think twice - nay, make that a hundred times - before engaging in corrupt deals. But we have given waizi wa miwa (Or is it waheshimiwa?) too much power and they will never pass such laws because they would be the first ones to be hang!!! Hmmm @Maichblack, well put. The sure way of eradicating the corruption disease is stricter laws that ought be enforced to the letter #chinesestyle. We need laws with provisions such like once caught you pay double what you'll have stolen and you get checked in for minimum 50+ years. The challenge is will they pass such a law? Its the we the electrorate that will be the gamechangers, by electing 'sober' people with a futuristic statemanship. The impact of whatever evils they commit comes back to haunt us. Its we to acess the loans at the high rates as for them they have negotiated rates hence no impact and should they feel the impact they will as usual gang' up to review their damn packages. Kenya suffers, not because of bad laws but enforcement. Even if such a law was passed, who will "catch' the rich and powerful thieves?
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Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya
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I guess this is a comprehensive list of the loan interest rates situation currently. Equity bank here its written 16.5% but from a customer's complain on their facebook page its 20%: http://www.theeastafrica...0/-/1h47saz/-/index.html
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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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I think the regime should be worried about whats going on, this thing about interest rate is affecting everybody across the board.it doesn't matter the tribe or political affiliation . im people who are well known businessmen are so hurt now because they took loans to do businesses .now how will you tell Kariuki who took a loan of 5 million at in interest rate of 16% that you have hiked to 20% additional 200,000 per year, do you think he will say the economy is good while its hurting his pocket .of course no .they should fix this thing urgently .
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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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MaichBlack wrote:kangi wrote:Boris Boyka wrote:MaichBlack wrote:PeterReborn wrote:HaMaina wrote:Another big problem is that we forget like chickens. Anything can happen, we can be ripped off, see kipande soaps for 35,000 a bar,facebook acc for 2 million etc and during elections campaigns a few sweet maendeleo words and we jump to the ballots to vote them back like cows on heat. We should individually look at the mirror and slap ourselves The other problem is that they are all monkeys and its difficult to select a less monkey. True dat!!! All of these brare gaskets are recycled monkeys that you have to choose between the worse and the worst monkey. And in most cases there is no difference!!! To kill a tree you destroy the roots, To ensure a tree survives you water the roots. Kenyans have to begin accountability at counties and departments then drive it up. Wrong approach my broda. Counties receive around 15% of the Revenue. Should we start following 15% or ensure the 85% is well acounted for and send a message to the counties? My hypothesis is Central gaament is where the issue should be addressed from. Why not do both concurrently? Not possible??? We need to pass and enforce Chinese style anti corruption laws!!! Hang corrupt idiots - senior to junior - and corruption will be a thing of the past!! You just be corrupt but the day we catch up with you, we hang you!!! People will think twice - nay, make that a hundred times - before engaging in corrupt deals. But we have given waizi wa miwa (Or is it waheshimiwa?) too much power and they will never pass such laws because they would be the first ones to be hang!!! its true maichblack. I read somewhere that Singapore as a country was just like Kenya. they rounded up ministers and all the govt official and put them to jail who were corrupt. now the unemployment is 1%. now back to Kenya the people who are to change this laws are the mpigs. they are so compromised left right and centre till one of them who was formerly a PAC committee chairman came straight and said that the members are bribed. Brothers look at that. the same guys are still in parliament taking more kickbacks, this culture wont change as long as those blood stained mpigs keep sitting there. they are antagonist to positive developments and align themselves to shelter of tribal cronies. this is across the board both opposition and the non opposition. "OUR SKIN IS CURSED"
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Rank: Member Joined: 11/9/2007 Posts: 288 Location: OZ
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I don't buy the ideology that "Our Skin is Cursed", its just our engrained in our culture..Chinese have similar issue.... Corruption doesn't stop development, it impedes and slows the pace of it.. Thats why Kibaki and Uhuru days are better than Moi day when Loyalty superseded than National development.. More monies, more problems...
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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Even KCB MPESA had to increase! Formally employed people often live their employers' dream & forget about their own.
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Rank: Member Joined: 7/23/2009 Posts: 526
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Seles83 wrote:I don't buy the ideology that "Our Skin is Cursed", its just our engrained in our culture..Chinese have similar issue....
Corruption doesn't stop development, it impedes and slows the pace of it..
Thats why Kibaki and Uhuru days are better than Moi day when Loyalty superseded than National development.. To quote Kareithi Murimi, "our orientation is that we are thieves". Until we liberate ourselves from this we are light years away from dealing with corruption. Our laws, discussions and systems are just about punishment. Accept no one's definition of your life; define your life.
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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Seles83 wrote:I don't buy the ideology that "Our Skin is Cursed", its just our engrained in our culture..Chinese have similar issue....
Corruption doesn't stop development, it impedes and slows the pace of it..
Thats why Kibaki and Uhuru days are better than Moi day when Loyalty superseded than National development.. It's grossly unfair to put the two together since their economic management strategies and results are polar opposites. One inherited a bankrupt country and within three years he kicked out the Bretton wood crooks. The other inherited a super charged economy and within two and half years he was holding a begging bowl knocking on the door of IMF. A friend explained to me the gravity of the crisis with the example of a property developer. What if you were suraya developers with projects worth 2bn financed by banks. A 5% hike in interest rates means you pay 10mn extra every month while potential buyers cannot even consider a mortgage at the moment.
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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Seles83 wrote:I don't buy the ideology that "Our Skin is Cursed", its just our engrained in our culture..Chinese have similar issue....
Corruption doesn't stop development, it impedes and slows the pace of it..
Thats why Kibaki and Uhuru days are better than Moi day when Loyalty superseded than National development.. It's grossly unfair to put the two together since their economic management strategies and results are polar opposites. One inherited a bankrupt country and within three years he kicked out the Bretton wood crooks. The other inherited a super charged economy and within two and half years he was holding a begging bowl knocking on the door of IMF. A friend explained to me the gravity of the crisis with the example of a property developer. What if you were suraya developers with projects worth 2bn financed by banks. A 5% hike in interest rates means you pay 10mn extra every month while potential buyers cannot even consider a mortgage at the moment.
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Banks increase loan rates & tariffs!
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