Mobile loans feel the pinch of new 20pc excise duty



Business Daily | by John Mutua


Borrowers of digital loans will bear the brunt of the 20 percent tax on fees and commissions earned on bank credit that took effect on July 1.

All or a significant portion of fees charges on mobile loans provided by KCB, NCBA (M-Shwari), Absa Kenya, Co-operative Bank and Equity are considered as facilitation fees…

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