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Law Capping interest rates
Rank: Elder Joined: 6/23/2009 Posts: 14,261 Location: nairobi
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FRM2011 wrote:This tweet from Jimnah Mbaru has left me confused.
"Let me be very clear about this subject. We need to control the level of interest rates charged by banks. Capping is very good for Kenya".
It doesn't matter what Jimnah thinks. This one is a done deal COOP, IMH, KQ, MTNU
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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obiero wrote:FRM2011 wrote:This tweet from Jimnah Mbaru has left me confused.
"Let me be very clear about this subject. We need to control the level of interest rates charged by banks. Capping is very good for Kenya".
It doesn't matter what Jimnah thinks. This one is a done deal @obiero, am trying to join dots here. Jimnah is a very shrewd businessman. He is heavily invested in Equity bank. Should the bill be signed, he would take a very big hit in his portfolio. So where is the catch ? Could it be that these guys have figured out a way to screw wanjiku once again ? Have the bill signed, share prices drop massively, wanjiku panics and sells, these guys accumulate at rock bottom prices, re-model the business, and be back in 2-3 years.
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Rank: Elder Joined: 6/23/2009 Posts: 14,261 Location: nairobi
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FRM2011 wrote:obiero wrote:FRM2011 wrote:This tweet from Jimnah Mbaru has left me confused.
"Let me be very clear about this subject. We need to control the level of interest rates charged by banks. Capping is very good for Kenya".
It doesn't matter what Jimnah thinks. This one is a done deal @obiero, am trying to join dots here. Jimnah is a very shrewd businessman. He is heavily invested in Equity bank. Should the bill be signed, he would take a very big hit in his portfolio. So where is the catch ? Could it be that these guys have figured out a way to screw wanjiku once again ? Have the bill signed, share prices drop massively, wanjiku panics and sells, these guys accumulate at rock bottom prices, re-model the business, and be back in 2-3 years. One thing should be clear as Fitch disclosed yesterday. Small banks will have to consolidate. That will mean maximum of about 20 banks remaining in the near future.. Tier 1s will thrive on economies of scale. Finally, note that the president cannot decline the bill but only RTS to buy time. Banks are damned COOP, IMH, KQ, MTNU
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Rank: Elder Joined: 7/22/2009 Posts: 7,872
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enyands wrote:Spikes wrote:MaichBlack wrote:If Uhuru was worried about re-election, he would not introduced/increased taxes on everything and anything! Things even Moi would NEVER dare tax like medicine, books, electricity/power, juice, bottled water, electric cigarettes (For those trying to quit smoking to avoid cancer and other diseases) etc.
The taxes UhuRuto have introduced/increased are far much more damaging to the pockets of Kenyans than interest rates. And those taxes affect every single Kenyan (every day!!!) and unlike loans, they are not avoidable. And guess what, they were passed and signed into law without batting an eyelid!!! Why?? UhuRuto don't believe they have a realistic opponent. And that is the problem with Kenya. We should always have a strong and realistic opponent so that the government of the day knows that any misstep might lead to them losing power.
Of course I am not saying the bill should be signed for political reasons because it is a stupid bill and signing it would be stupid. I am just saying, those who expect Uhuru to sign it to get votes next year are day dreaming!! Raila's supporters will never vote for Uhuru because he signed the bill. Uhuru's supporters will never vote for Raila because Uhuru did not sign the bill. And the independent minds in between who don't fanatically support either of the two don't have much choice/options. The Muhisa Kituyis, Peter Kenneths, Rafael Tujus of this world don't stand a chance in this messed up political landscape of ours!!! Let the bill be signed. We want to see a meltdown on financials enabling us low entry for speculation.  shrewd investors wewe,you are greedy when all are fearful Nothing shrewd there! And no investor in place. The last word actually says speculationNever 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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Rank: Elder Joined: 7/22/2009 Posts: 7,872
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Naona kuna watu watapata heart attack hapa. They are so convinced. But at least some (I will not mention names  ) are used to major (and repeated) shocks. Lesson One: When someone delays to take an action (like signing a bill) that should communicate something to you by itself. Lesson Two: When the (extremely respected) Governor of Central Bank not only verbally says why he is against rates capping but also writes an elaborate article for a newspaper on the same, it is time to start reading between the lines. Lesson Three: When TNA's Chairman, Johnson Sakaja starts defending the President for not signing the bill (even before it is official) explaining that there is nowhere in the TNA manifesto they promised to cap rates then it is time to wake up and smell the coffee. 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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Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi
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I really want to see this capping become law but......Uhuru will simply send this thing back to parliament with some recommendations probably drawn from the banks mou or even drafted by the banks themselves....Mistake No. 1.....Politics will kick in. RAO will have got the perfect opportunity to rope in MDV into his camp. Mpigs from across the divide will also gang up to ensure the capping becomes a reality......This is likely to happen after parliament recess early next year....This are not my thoughts!!!! Nothing great was ever achieved without enthusiasm.
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Rank: Elder Joined: 6/23/2009 Posts: 14,261 Location: nairobi
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Njung'e wrote:I really want to see this capping become law but......Uhuru will simply send this thing back to parliament with some recommendations probably drawn from the banks mou or even drafted by the banks themselves....Mistake No. 1.....Politics will kick in. RAO will have got the perfect opportunity to rope in MDV into his camp. Mpigs from across the divide will also gang up to ensure the capping becomes a reality......This is likely to happen after parliament recess early next year....This are not my thoughts!!!! At guka your thoughts are worth money. That is likely to happen. Meanwhile, no serious SME shall borrow at current rates since a lower one is on the way COOP, IMH, KQ, MTNU
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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MaichBlack wrote:Naona kuna watu watapata heart attack hapa. There are so convinced. But at least some (I will not mention names ) are used to major (and repeated) shocks. Lesson One: When someone delays to take an action (like signing a bill) that should communicate something to you by itself. Lesson Two: When the (extremely respected) Governor of Central Bank not only verbally says why he is against rates capping but also writes an elaborate article for a newspaper on the same, it is time to start reading between the lines. Lesson Three: When TNA's Chairman, Johnson Sakaja starts defending the President for not signing the bill (even before it is official) explaining that there is nowhere in the TNA manifesto they promised to cap rates then it is time to wake up and smell the coffee.  If Obiero did it, Who Am I?
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Rank: Elder Joined: 7/22/2009 Posts: 7,872
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Swenani wrote:MaichBlack wrote:Naona kuna watu watapata heart attack hapa. There are so convinced. But at least some (I will not mention names ) are used to major (and repeated) shocks. Lesson One: When someone delays to take an action (like signing a bill) that should communicate something to you by itself. Lesson Two: When the (extremely respected) Governor of Central Bank not only verbally says why he is against rates capping but also writes an elaborate article for a newspaper on the same, it is time to start reading between the lines. Lesson Three: When TNA's Chairman, Johnson Sakaja starts defending the President for not signing the bill (even before it is official) explaining that there is nowhere in the TNA manifesto they promised to cap rates then it is time to wake up and smell the coffee. 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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Rank: Elder Joined: 7/22/2009 Posts: 7,872
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Njung'e wrote:I really want to see this capping become law but......Uhuru will simply send this thing back to parliament with some recommendations probably drawn from the banks mou or even drafted by the banks themselves....Mistake No. 1.....Politics will kick in. RAO will have got the perfect opportunity to rope in MDV into his camp. Mpigs from across the divide will also gang up to ensure the capping becomes a reality......This is likely to happen after parliament recess early next year....This are not my thoughts!!!! Even Raila in his right mind would never sign the bill. But for political reason he will push Uhuru to sign to put him in an compromising position. If he signs and sh!t hits the fan, he will go down as the president who ruined the country's financial sector against the advice of his own Finance Secretary and Governor of Central Bank. If he doesn't sign, then there is something to repeat to the masses over and over - that they are in sh!t coz the president refused to sign the bill. This is a classical Donald Trump moment. He kept insisting that Obama should pull out all the troops from Iraq "by yesterday" and leave them to build their own country. Obama pulled out the troops (Not because of the Donald), sh!t hit the fan and now Trump is using it against him - calling him the founder of ISIS because he withdrew troops from Iraq and ISIS had a field day. MPs ganging up??? Highly unlikely. Jubilee MPs will be given a (private) lecture on why they cannot show open rebellion to the president. They will most probably leave the Parliament just before voting - especially the ones that have openly supported the bill. Come October, people will be discussing something else. As someone correctly pointed out, memory ya wakenya ni ile ile. 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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