Business Daily | by Constant Munda
Default on mortgages and loans advanced to the transport sector has crossed the Sh100 billion mark in the wake of layoffs, business closures and travel restrictions triggered by the Covid-19 pandemic.
The transport and real estate sectors topped loan defaults over the nine months to December last year as the country reeled from an economic crisis due to the pandemic, fresh Central Bank of Kenya (CBK) data shows.
Loans secured through title deeds and motor vehicle logbooks posted the fastest default growth rates over the period, coinciding with…
