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Law Capping interest rates
Rank: Elder Joined: 12/7/2012 Posts: 11,935
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Citi is a foreign bank who are known to claim doom for Africa economies which are doing well like ours. Generally the economy is growing, most like lamenting instead of taking opportunies that exist and make money. I listened to DPORK on Sunday and the figures he was quoting are great and all positive. Where is the gloom and doom. The sky is falling brigade, chill out. It is only going to get better. 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: Member Joined: 9/3/2015 Posts: 118 Location: Nairobi
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obiero wrote:Angelica _ann wrote:obiero wrote:wukan wrote:We are now getting to see who was swimming naked  Quote:Nakumatt,” the retail chain says, even as it blames new laws capping interest rates for its recent troubles.
Nakumatt says the laws, passed in August last year, have made it difficult to access the short- to medium-term credit it relied on to run the business. Kenya's economy is dying a quick and painful death Nope, this guys siphoned money meant for operations at Nakumatt  Most companies are reporting reductions in staff count, others closing shop.. It's not only Nakumatt. Nikubaya No need to blame the rate caps, just change banks and go to Co-op, who increased loan book despite the rate cap.Otherwise go the deacons way, get the amounts required at figures close to the previous rates. With time we will know whether rate caps led to downfall of the company, or whether the company was run into the ground like chase bank was.
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Rank: Elder Joined: 6/23/2009 Posts: 14,227 Location: nairobi
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Musimo wrote:obiero wrote:Angelica _ann wrote:obiero wrote:wukan wrote:We are now getting to see who was swimming naked Quote:Nakumatt,” the retail chain says, even as it blames new laws capping interest rates for its recent troubles.
Nakumatt says the laws, passed in August last year, have made it difficult to access the short- to medium-term credit it relied on to run the business. Kenya's economy is dying a quick and painful death Nope, this guys siphoned money meant for operations at Nakumatt Most companies are reporting reductions in staff count, others closing shop.. It's not only Nakumatt. Nikubaya No need to blame the rate caps, just change banks and go to Co-op, who increased loan book despite the rate cap.Otherwise go the deacons way, get the amounts required at figures close to the previous rates. With time we will know whether rate caps led to downfall of the company, or whether the company was run into the ground like chase bank was. Wewe uko na mchezo. Ona Uchumi in the same boat. Two months salary arrears http://www.businessdaily...99358-1iiox0z/index.html
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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obiero wrote:Musimo wrote:obiero wrote:Angelica _ann wrote:obiero wrote:[quote=wukan]We are now getting to see who was swimming naked Quote:Nakumatt,” the retail chain says, even as it blames new laws capping interest rates for its recent troubles.
Nakumatt says the laws, passed in August last year, have made it difficult to access the short- to medium-term credit it relied on to run the business. Kenya's economy is dying a quick and painful death Nope, this guys siphoned money meant for operations at Nakumatt Most companies are reporting reductions in staff count, others closing shop.. It's not only Nakumatt. Nikubaya No need to blame the rate caps, just change banks and go to Co-op, who increased loan book despite the rate cap.Otherwise go the deacons way, get the amounts required at figures close to the previous rates. With time we will know whether rate caps led to downfall of the company, or whether the company was run into the ground like chase bank was. Wewe uko na mchezo. Ona Uchumi in the same boat. Two months salary arrears http://www.businessdaily...9358-1iiox0z/index.html[/quote] Weeding out the rout. Effective and efficiency is a must to survival. Week one's adopt to change or else support the effective one's. Nah. Uchumi has been on icu for so long. We have seen improvements to find them in HDU from icu. Keep fighting dea uchumi. We will miss u big if u leave us. ,Behold, a sower went forth to sow;....
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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Probably we need to de-politicize the way we dress our 'facts'.
Are companies closing down? Yes. Is it political? No.
Are branches being shut? Yes. Is it political? No.
Are staff being retrenched? Yes. Is it political? No.
Has the GDP Shrunk? Yes. Is it political? No.
Has Inflation increased? Yes. Is it political? No.
Are workers on strike because of salary related issues? Yes. Is it political? No.
Maybe am wrong...but it doesnt look like a picture of any economy that is not bleeding.
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Rank: Member Joined: 9/11/2014 Posts: 228 Location: Nairobi
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winston wrote:Probably we need to de-politicize the way we dress our 'facts'.
Are companies closing down? Yes. Is it political? No.
Are branches being shut? Yes. Is it political? No.
Are staff being retrenched? Yes. Is it political? No.
Has the GDP Shrunk? Yes. Is it political? No.
Has Inflation increased? Yes. Is it political? No.
Are workers on strike because of salary related issues? Yes. Is it political? No.
Maybe am wrong...but it doesnt look like a picture of any economy that is not bleeding. Is corruption and impunity part of the equation? Yes Is it political? Yes Can one entirely "de-politicize" what is political?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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winston wrote:Probably we need to de-politicize the way we dress our 'facts'.
Are companies closing down? Yes. Is it political? No.
Are branches being shut? Yes. Is it political? No.
Are staff being retrenched? Yes. Is it political? No.
Has the GDP Shrunk? Yes. Is it political? No.
Has Inflation increased? Yes. Is it political? No.
Are workers on strike because of salary related issues? Yes. Is it political? No.
Maybe am wrong...but it doesnt look like a picture of any economy that is not bleeding. The GDP of Kenya in 2013 was $55.3Bn and it grew to $62.7Bn in 2015 "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Ngalaka wrote:winston wrote:Government is playing the see no evil, hear no evil card on this rate capping monster. Bleed as the economy may; credit squeeze as the banks may - nothing is moving Government on this in the short term. As soon as the elections are behind us, the obvious, long overdue corrective action will be taken. In the meantime, the economy may as well bleed all it wants, as in 'their' books, politics takes priority. The change is the one that will kill the economy...defaults will be the order of the day the economy will crumble. possunt quia posse videntur
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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iris wrote:winston wrote:Probably we need to de-politicize the way we dress our 'facts'.
Are companies closing down? Yes. Is it political? No.
Are branches being shut? Yes. Is it political? No.
Are staff being retrenched? Yes. Is it political? No.
Has the GDP Shrunk? Yes. Is it political? No.
Has Inflation increased? Yes. Is it political? No.
Are workers on strike because of salary related issues? Yes. Is it political? No.
Maybe am wrong...but it doesnt look like a picture of any economy that is not bleeding. Is corruption and impunity part of the equation? Yes Is it political? Yes Can one entirely "de-politicize" what is political? Wah! At least we can try to..in the investors forum...
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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murchr wrote:winston wrote:Probably we need to de-politicize the way we dress our 'facts'.
Are companies closing down? Yes. Is it political? No.
Are branches being shut? Yes. Is it political? No.
Are staff being retrenched? Yes. Is it political? No.
Has the GDP Shrunk? Yes. Is it political? No.
Has Inflation increased? Yes. Is it political? No.
Are workers on strike because of salary related issues? Yes. Is it political? No.
Maybe am wrong...but it doesnt look like a picture of any economy that is not bleeding. The GDP of Kenya in 2013 was $55.3Bn and it grew to $62.7Bn in 2015 Thanks for the correction. my apologies. Though...others will say where is the 'real' growth for wanjiku? how much is driven by SGR? did rebasing affect the numbers? what is the impact of the borrowing (overborrowing?).
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Law Capping interest rates
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