Swenani wrote:This is not about uhunye protecting his interests in CBA but it's common sense......It is a bad idea to cap interest rates-they are beter ways to reduce the rates if the govt is keen to.
Which are this other methods everyone keeps talking about and why has Treasury/CBK not applied them to the sector.
It is this failure by the CBK/Treasury to tame rates that has now forced the legislature to come up with this law
By the way interest rates caps of one form or another do exist in South Africa, India, Bangladesh.
In the US, France and even UK, caps do exist to check Usurious and predatory lenders. Our entire financial system is predatory and need to be checked through such caps.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins