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watesh		#241 Posted : Thursday, August 11, 2016 10:46:57 AM
Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya		Obi 1 Kanobi wrote: chemirocha wrote: streetwise wrote: Here we are talking of persons who have died due to distress from banks. A bad law is better than the current situation. We will amend the law along the way as we experience these bad things people are talking about. I am sure those who said the constitution was bad can tell us about lessons learned So how about being denied a loan because you don't fit the banks' risk profile? This populist garbage doesn't solve the issues with accessing credit. I don't understand your comment. many people are denied loans everyday because they don't qualify? Ama what did you mean. We are not suggesting that banks should lend money to every Wanjiku, Otieno & Kipchumba, what we are sayng is that they should not exploit the borrower just because they know the borrower has no other choices. By the way the price of money is inelastic (meaning people will borrow even at 1000%) and thats what banks are taking advantage of. Demand and supply....some developed countries have really low interest rates because they have so much money than they actually need to lend out. Here in Kenya, the money available isnt enough. It will be given to the highest bidder.
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Ericsson		#242 Posted : Thursday, August 11, 2016 10:52:16 AM
Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI		If government owned banks such as Consolidated bank,National Bank,development bank,Post Bank can't give cheap rates then we are doomed. Gava should have propped up ICDC and made it a formidable force in giving out cheap loans to industries for expansion instead of wasting money on NYS. That would have heard a big effect in the economy. ICDC can then be our own Development Bank of South Africa or China development Bank which do a similar role Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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sparkly		#243 Posted : Thursday, August 11, 2016 11:27:57 AM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		Ericsson wrote: If government owned banks such as Consolidated bank,National Bank,development bank,Post Bank can't give cheap rates then we are doomed. Gava should have propped up ICDC and made it a formidable force in giving out cheap loans to industries for expansion instead of wasting money on NYS. That would have heard a big effect in the economy. ICDC can then be our own Development Bank of South Africa or China development Bank which do a similar role Spoken like 10 elders plus their chief. Life is short. Live passionately.
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streetwise		#244 Posted : Thursday, August 11, 2016 1:31:35 PM
Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi		You simply cant see development rates in the two digit space with the interest rates we have. Sanity must be rained in. Like I said earlier people have been made poor and other died due to this stress. I better be denied a loan by the bank than have the loan and it causes my demise. Choices have consequences and here we know low interest rates means no loan to the poor, that fine I am ready to live with it.
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Rahatupu		#245 Posted : Thursday, August 11, 2016 1:54:22 PM
Rank: Veteran Joined: 12/4/2009 Posts: 1,982 Location: matano manne		@Streetwise, well said. Loan si dawa. On the other hand the poor depositors get more for their savings.
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kasibitta		#246 Posted : Thursday, August 11, 2016 1:55:39 PM
Rank: Member Joined: 2/7/2014 Posts: 155		sparkly wrote: Ericsson wrote: If government owned banks such as Consolidated bank,National Bank,development bank,Post Bank can't give cheap rates then we are doomed. Gava should have propped up ICDC and made it a formidable force in giving out cheap loans to industries for expansion instead of wasting money on NYS. That would have heard a big effect in the economy. ICDC can then be our own Development Bank of South Africa or China development Bank which do a similar role Spoken like 10 elders plus their chief. How i wish government people or even people in management in various institution would just have the interest of country and institutions for just one month and make decisions that would benefit all. Having the priviledge of listening to people in management talk at times leaves me wondering about the calibre of our leaders.Na vile ata hapa wazua some advise is for free....
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Rahatupu		#247 Posted : Thursday, August 11, 2016 1:58:40 PM
Rank: Veteran Joined: 12/4/2009 Posts: 1,982 Location: matano manne		@Streetwise, well said. Loan si dawa. On the other hand the poor depositors get more for their savings.
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newfarer		#248 Posted : Thursday, August 11, 2016 8:00:54 PM
Rank: Elder Joined: 3/19/2010 Posts: 3,505 Location: Uganda		Ericsson wrote: If government owned banks such as Consolidated bank,National Bank,development bank,Post Bank can't give cheap rates then we are doomed. Gava should have propped up ICDC and made it a formidable force in giving out cheap loans to industries for expansion instead of wasting money on NYS. That would have heard a big effect in the economy. ICDC can then be our ow Development Bank of South Africa or China development Bank which do a similar role Which government? , ref nbk npl. The mps veto the bill if uhuru declines to sign. punda amecheka
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Lolest!		#249 Posted : Thursday, August 11, 2016 9:25:55 PM
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma		NJOMO ON CITIZEN: We cannot trust banks with their promises of coming up with measures to control the rate. They have promised to do so in the last 2 attempts to legislate rates
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obiero		#250 Posted : Thursday, August 11, 2016 9:30:42 PM
Rank: Elder Joined: 6/23/2009 Posts: 14,320 Location: nairobi		Lolest! wrote: NJOMO ON CITIZEN: We cannot trust banks with their promises of coming up with measures to control the rate. They have promised to do so in the last 2 attempts to legislate rates "KBRR is not working, MOUs are never respected in Kenya.. Banks refer to 'friendly' rates.. How friendly is 26%".. That guy was sharp COOP, IMH, KEGN, KQ, MTNU
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