Kenya’s president finalises removal of rate cap for banks



NAIROBI (Reuters) – Kenya’s President Uhuru Kenyatta has signed a law that scraps a cap on banks’ commercial lending rates which had been blamed for stalling lending to businesses, his office said on Thursday. Kenyan President Uhuru Kenyatta addresses the 74th session of the United Nations General Assembly at U.N. headquarters in New York City, New York, U.S., September 25, 2019. REUTERS/Eduardo Munoz/File PhotoThe government and the country’s banks had blamed the cap, which the government imposed in 2016 to curb high interest rates, for constricting private sector lending growth…



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