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Law Capping interest rates
Rank: Elder Joined: 7/26/2007 Posts: 6,514
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These are pre-rate cap stats. Should be worse for October. Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 7/22/2009 Posts: 7,460
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Nandwa wrote:Of course this law was ill advised. The common guy on the streets was happy about it(what do they ay about ignorance and bliss) but the so called benefits pale in comparison to the straits it causes the economy.
Akin to giving a baby a knife to make them stop crying for it - the danger is more dire! We tried to discuss these issues and the mob could not hear any of it. Emotions were the order of the day. Even now when the effects have started being obvious, the lynch mob doesn't want to hear any logic! Emotions and matusi abound!! 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: 7,460
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guru267 wrote:We are slowly moving towards reversing this retarded law. As I have been saying, was always going to happen. The longest UK can hold is up to slightly after the elections. Because the signing was politically motivated, he might just let the economy go to the dogs till after the election - what a high price for Kenyans to pay for some people to get votes!! But this law doesn't see December 2017. Worst case scenario!!! 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: 10/3/2008 Posts: 4,057 Location: Gwitu
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MaichBlack wrote:guru267 wrote:We are slowly moving towards reversing this retarded law. As I have been saying, was always going to happen. The longest UK can hold is up to slightly after the elections. Because the signing was politically motivated, he might just let the economy go to the dogs till after the election - what a high price for Kenyans to pay for some people to get votes!! But this law doesn't see December 2017. Worst case scenario!!! I like my loan statement now. My loan will be cleared by Dec 2017 so who cares! Truth forever on the scaffold
Wrong forever on the throne
(James Russell Rowell)
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Rank: Veteran Joined: 7/5/2010 Posts: 2,061 Location: Nairobi
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MaichBlack wrote:guru267 wrote:We are slowly moving towards reversing this retarded law. As I have been saying, was always going to happen. The longest UK can hold is up to slightly after the elections. Because the signing was politically motivated, he might just let the economy go to the dogs till after the election - what a high price for Kenyans to pay for some people to get votes!! But this law doesn't see December 2017. Worst case scenario!!! UK can't unilaterally void the law. An MP has to introduce a motion to repeal it or scrap it...I will want to see that usually heavily indebted house vote to let banks swing their huge loans back to the mid-twenties interest rate mark, for curiosity's sake.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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UK should just go home...go drink his liquor in peace...running a country is proving to be a hard task. possunt quia posse videntur
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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maka wrote:UK should just go home...go drink his liquor in peace...running a country is proving to be a hard task. Kwanza Raila is really giving this lot a good excuse to deflate attention from their performance  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Angelica _ann wrote:maka wrote:UK should just go home...go drink his liquor in peace...running a country is proving to be a hard task. Kwanza Raila is really giving this lot a good excuse to deflate attention from their performance They are just a shitty duo...truth be told. possunt quia posse videntur
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Rank: Member Joined: 2/20/2007 Posts: 767
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Let me be counted among the pro rate cap hoi poloi. I still dont understand why rate cap is bad for business. The sooner banks get over their pity party , double down and get to work lending to those who deserve loans, the better it will be for all of us. No need having registered shylocks masquerading as banks. By June 2017, they will have seen the light and done away with their credit crunch games. By the way, can someone explain to me slowly what interest rates have to do with weakening kenya shs against the dollar. What is the relationship. They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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maka wrote:Angelica _ann wrote:maka wrote:UK should just go home...go drink his liquor in peace...running a country is proving to be a hard task. Kwanza Raila is really giving this lot a good excuse to deflate attention from their performance They are just a shitty duo...truth be told. Capital gains tax scenario,it destroyed the market big time before they came to their senses,on banks iam ok with rate cap because i think kenyan banks were making exorbitant profits,i will buy bank stocks next year when this law bites to the core "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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Since the rate cap came in punda amecheka. The best thing to happen in the recent past, it added some sufurias in my kitchen, any other analysis kwangu make no sense punda amecheka
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Rank: Member Joined: 1/4/2013 Posts: 255
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Interest Cap Law has been good for business - for me. I can only speak for myself and a few others I know that are also happy with the cap law. I don't understand the intricate big picture economics as to why bank performances are going drastically south. And it's not all banks. All I can say is, in my opinion, and in my experience the interest cap is great... so far.
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Rank: Member Joined: 1/22/2015 Posts: 682
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newfarer wrote:Since the rate cap came in punda amecheka. The best thing to happen in the recent past, it added some sufurias in my kitchen, any other analysis kwangu make no sense Those opposing are bank shareholders, duh!
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Rank: Elder Joined: 6/23/2009 Posts: 13,554 Location: nairobi
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The capping was a godsend..
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Made my Sacco to lower interest in products they were charging above 12%pa to the same In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: New-farer Joined: 10/14/2016 Posts: 25 Location: Nairobi
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kaka2za wrote:MaichBlack wrote:guru267 wrote:We are slowly moving towards reversing this retarded law. As I have been saying, was always going to happen. The longest UK can hold is up to slightly after the elections. Because the signing was politically motivated, he might just let the economy go to the dogs till after the election - what a high price for Kenyans to pay for some people to get votes!! But this law doesn't see December 2017. Worst case scenario!!! I like my loan statement now. My loan will be cleared by Dec 2017 so who cares! Right now we are quick to think of ourselves and the advantage of the rate cap which is a good thing but looking at the bigger picture, when the economy is in shambles, this wont matter anymore, we shall all go/come home to roost. Case in point, when a whole economy is in recession, everyone suffers a ripple effect from production, consumer spending, supply, demand, profits etc etc
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Rank: New-farer Joined: 10/14/2016 Posts: 25 Location: Nairobi
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tom_boy wrote:Let me be counted among the pro rate cap hoi poloi. I still dont understand why rate cap is bad for business. The sooner banks get over their pity party , double down and get to work lending to those who deserve loans, the better it will be for all of us. No need having registered shylocks masquerading as banks. By June 2017, they will have seen the light and done away with their credit crunch games.
By the way, can someone explain to me slowly what interest rates have to do with weakening kenya shs against the dollar. What is the relationship. First, refer to post #1522. Then ask questions.
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Maybe the quality in the forum has worsened. Look around you, how many cutbacks have the banks recently announced? And this is a lean sector already! Where banks lead, others will follow. Look at EA Portland and they are selling products in a vibrant sector. Look at Nakumatt, where the banks have pulled funding lines. Yes, a small prroprotion of existing "quality" borrowers (read MPs and cronies) get a short-term benefit, but the overall economy will take a proper hit. Mambo baado Sehemu ndio nyumba
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Rank: Elder Joined: 6/23/2009 Posts: 13,554 Location: nairobi
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Mainat wrote:Maybe the quality in the forum has worsened.
Look around you, how many cutbacks have the banks recently announced? And this is a lean sector already! Where banks lead, others will follow. Look at EA Portland and they are selling products in a vibrant sector. Look at Nakumatt, where the banks have pulled funding lines.
Yes, a small prroprotion of existing "quality" borrowers (read MPs and cronies) get a short-term benefit, but the overall economy will take a proper hit.
Mambo baado Quality is at an all time high.. The capping was a double edged sword.. Only smaller banks will take a hit and we are prepared to see them merge or close down. Haina shida hio. Banks like I&M, Baroda, Fidelity, Moriental.. Hizo sijui ni akina nani huweka pesa huko
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: New-farer Joined: 3/12/2014 Posts: 96
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obiero wrote:Mainat wrote:Maybe the quality in the forum has worsened.
Look around you, how many cutbacks have the banks recently announced? And this is a lean sector already! Where banks lead, others will follow. Look at EA Portland and they are selling products in a vibrant sector. Look at Nakumatt, where the banks have pulled funding lines.
Yes, a small prroprotion of existing "quality" borrowers (read MPs and cronies) get a short-term benefit, but the overall economy will take a proper hit.
Mambo baado Quality is at an all time high.. The capping was a double edged sword.. Only smaller banks will take a hit and we are prepared to see them merge or close down. Haina shida hio. Banks like I&M, Baroda, Fidelity, Moriental.. Hizo sijui ni akina nani huweka pesa huko hebu hamia parklands uweke pesa pia
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