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Law Capping interest rates
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Ngalaka
#2771 Posted : Monday, March 18, 2019 11:38:37 AM
Rank: Veteran

Joined: 10/29/2008
Posts: 1,566
Now I have a question of my own;

If it makes all perfect economic sense to lend at 14% in the Kenyan economy, how come even before the rate caps not one 'shrewd entrepreneur' seized the opportunity to price themselves that competitively and in the process undercut the rest in the market.

Logically all business would flow his/her way, and the next thing they would be the largest lender in the economy.

It s a free market, or is it!
Isuni yilu yi maa me muyo - ni Mbisuu
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FRM2011
#2772 Posted : Monday, March 18, 2019 11:48:08 AM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
tom_boy wrote:
FRM2011 wrote:
snifadog wrote:
[quote=FRM2011][quote=newfarer][quote=tom_boy]


I have never found anyone to explain to me, in simple language that my simple mind can understand, how on earth does someone who was servicing loans on time at 20% interest suddenly become a poor credit risk at 13% interest.
Even senior bankers cannot explain this phenomenon.


The answer from the banksters is that they need to price risk which they cannot do within the current margins.

The truth however is different. A risk-free borrower with an insatiable appetite for cash came on board. His name is GoK courtesy of the Jubilee kleptocracy. In today's paper, they are floating a 50B bond @12.2%.

If GoK stopped borrowing like crazy, banks would have no other choice but to lend at the current margins. As it is, they are making record profits while reporting reduced loan books to customers.
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AndyC
#2773 Posted : Monday, March 18, 2019 2:48:24 PM
Rank: Member

Joined: 4/21/2015
Posts: 151
Consumer Federation of Kenya (COFEK) appeals against removal of rate caps.
Drama is real!
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jmbada
#2774 Posted : Tuesday, March 19, 2019 10:56:18 AM
Rank: Member

Joined: 1/1/2011
Posts: 396
AndyC wrote:
Consumer Federation of Kenya (COFEK) appeals against removal of rate caps.
Drama is real!

...jmbada's, or whoever's article was parly right."...Our Conclusion:
There are numerous upcoming activities in both the Chambers of Legislation and the Halls of Justice..

Still too long for my liking though.
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mlennyma
#2775 Posted : Tuesday, March 19, 2019 11:54:03 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
AndyC wrote:
Consumer Federation of Kenya (COFEK) appeals against removal of rate caps.
Drama is real!

Why can't they fight to cap house rent?
"Don't let the fear of losing be greater than the excitement of winning."
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jmbada
#2776 Posted : Wednesday, April 03, 2019 2:45:11 PM
Rank: Member

Joined: 1/1/2011
Posts: 396
AndyC wrote:
jmbada wrote:
The first big bank to break ranks....Stanchart offering to buy out loans at 11.5%


Link?

Finally.....
https://www.the-star.co....twitter_impression=true

Barclays now matching this offer.
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Angelica _ann
#2777 Posted : Wednesday, April 03, 2019 6:25:19 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
jmbada wrote:
AndyC wrote:
jmbada wrote:
The first big bank to break ranks....Stanchart offering to buy out loans at 11.5%


Link?

Finally.....
https://www.the-star.co....twitter_impression=true

Barclays now matching this offer.



These journalists normally write what they want not what is the reality on the grounds. There are many more apartments being built some paid for, while others booked at 10% plus plus. Naysayers.
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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jmbada
#2778 Posted : Wednesday, April 03, 2019 6:50:55 PM
Rank: Member

Joined: 1/1/2011
Posts: 396
Angelica _ann wrote:
jmbada wrote:
AndyC wrote:
jmbada wrote:
The first big bank to break ranks....Stanchart offering to buy out loans at 11.5%


Link?

Finally.....
https://www.the-star.co....twitter_impression=true

Barclays now matching this offer.



These journalists normally write what they want not what is the reality on the grounds. There are many more apartments being built some paid for, while others booked at 10% plus plus. Naysayers.

You could be right. The journos are so lazy that maybe you even think that they've been paid to muddy the story. In this article, they are citing a "spot check" and went to 1 mall on Thika Superhighway, one block in Lavi and one more along General Mathenge Drive.

And could anyone help me understand this last sentence?
"Ruth Okal, an asset manager at Fahari I-REIT said the sector is witnessing a downfall with landlords willing to bargain with customers.

“Yes we experienced a downfall in one property. Landlords are always left with the choice of letting a tenant vacate and have empty or keep them for six months at one year for free,” Okal said."
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Angelica _ann
#2779 Posted : Wednesday, April 03, 2019 7:07:38 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
jmbada wrote:
Angelica _ann wrote:
jmbada wrote:
AndyC wrote:
jmbada wrote:
The first big bank to break ranks....Stanchart offering to buy out loans at 11.5%


Link?

Finally.....
https://www.the-star.co....twitter_impression=true

Barclays now matching this offer.



These journalists normally write what they want not what is the reality on the grounds. There are many more apartments being built some paid for, while others booked at 10% plus plus. Naysayers.

You could be right. The journos are so lazy that maybe you even think that they've been paid to muddy the story. In this article, they are citing a "spot check" and went to 1 mall on Thika Superhighway, one block in Lavi and one more along General Mathenge Drive.

And could anyone help me understand this last sentence?
"Ruth Okal, an asset manager at Fahari I-REIT said the sector is witnessing a downfall with landlords willing to bargain with customers.

“Yes we experienced a downfall in one property. Landlords are always left with the choice of letting a tenant vacate and have empty or keep them for six months at one year for free,” Okal said."


Laughing out loudly Laughing out loudly Laughing out loudly He forgot what he was told to write.
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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obiero
#2780 Posted : Sunday, April 07, 2019 4:00:34 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,223
Location: nairobi
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