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Law Capping interest rates
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kaifastus
#1081 Posted : Wednesday, September 14, 2016 9:58:04 PM
Rank: Member

Joined: 8/17/2011
Posts: 208
Location: humu humu
Equity is still not clear on existing loans.
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watesh
#1082 Posted : Wednesday, September 14, 2016 10:11:31 PM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
Aguytrying wrote:
Shouldn't safaricom price also take a haircut if they will adjust their rates downwards

Hahaha this giant makes peanuts from mshwari...mpesa transaction charges make up the bulk of that revenue
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obiero
#1083 Posted : Thursday, September 15, 2016 7:15:16 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,360
Location: nairobi
kaifastus wrote:
Equity is still not clear on existing loans.

The CBK circular was silent
silent too

COOP, IMH, KEGN, MTNU
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newfarer
#1084 Posted : Thursday, September 15, 2016 7:20:33 AM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
obiero wrote:
kaifastus wrote:
Equity is still not clear on existing loans.

The CBK circular was silent
silent too


CBK seems watermelon on this issue. Not serious. Thanks to the mps for doing the right thing and president too. The blood sucking loan vampires can sit on a pin
punda amecheka
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HaMaina
#1085 Posted : Thursday, September 15, 2016 8:37:46 AM
Rank: Veteran

Joined: 4/23/2014
Posts: 932
kaifastus wrote:
Equity is still not clear on existing loans.


Here is the full detail.

EQUITY BANK PRESS BRIEFING

https://www.youtube.com/watch?v=JaTtTmLpc9k

Enjoy
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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Ericsson
#1086 Posted : Thursday, September 15, 2016 9:09:09 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,828
Location: NAIROBI
Coop bank considers a maximum of 50% of your after tax income as what can be applied to your mortgage
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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hisah
#1087 Posted : Thursday, September 15, 2016 11:21:38 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Equity shakes market with mobile phone loans rate cut

Quote:
Equity Bank chief executive James Mwangi said customers borrowing through the lender’s Eazzy loans (its mobile phone-based credit offering) will be charged at the maximum rate of 14.5 per cent per annum on a reducing balance – a figure that translates to approximately 0.65 per cent per month.

“You can’t partner with a non-bank institution - a fintech or telcom – and pretend you can be outside this law – it says directly or indirectly. The issue of mobile is clearly spelt in this law,” said Mr Mwangi.


14.5% p.a. can never translate to 0.65% per month. Editors sleeping on the job.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Thursday, September 15, 2016 12:11 PM | Reason: Not specified
streetwise
#1088 Posted : Thursday, September 15, 2016 11:34:32 AM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
I tell you something , I have respect for JM. The kind of courage he has is what makes him win.

With this courage you can win any war
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jerry
#1089 Posted : Thursday, September 15, 2016 3:10:04 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
KulaRaha wrote:
penkon wrote:
obiero wrote:
Impunity wrote:
watesh wrote:
KulaRaha wrote:
Equity announces all loans got to 14.5% including Equitel.

So, who was recommending we buy this stock?

So Equitel loans will be 1.2%. That is almost free money. Unless they introduce a fee, that cash cow is gone


At 1.2% pm for Equitel-loan, that will be free money.
Imagine borrowing 10,000 shillings and pay Kes. 120 as interest?

I hope I am dreaming.

Applause Applause Applause Applause

There is no link to the Equitel rumor.. Treat it as a hoax meant to fatigue the price of Equity stock

no hoax, Dr. mwangi amesema https://www.youtube.com/watch?v=JaTtTmLpc9k



Its real, even his Head of Retail has tweeted:


Does it (law) apply to SACCOs?
The opposite of courage is not cowardice, it's conformity.
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Impunity
#1090 Posted : Thursday, September 15, 2016 3:32:18 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,335
Location: Masada
jerry wrote:
KulaRaha wrote:
penkon wrote:
obiero wrote:
Impunity wrote:
watesh wrote:
KulaRaha wrote:
Equity announces all loans got to 14.5% including Equitel.

So, who was recommending we buy this stock?

So Equitel loans will be 1.2%. That is almost free money. Unless they introduce a fee, that cash cow is gone


At 1.2% pm for Equitel-loan, that will be free money.
Imagine borrowing 10,000 shillings and pay Kes. 120 as interest?

I hope I am dreaming.

Applause Applause Applause Applause

There is no link to the Equitel rumor.. Treat it as a hoax meant to fatigue the price of Equity stock

no hoax, Dr. mwangi amesema https://www.youtube.com/watch?v=JaTtTmLpc9k



Its real, even his Head of Retail has tweeted:


Does it (law) apply to SACCOs?


SACCOS are Saccos and not Banks.
Saccos are Chamas.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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