Business Daily | by Otiato Guguyu
The Central Bank of Kenya has begun approving lenders’ applications to increase the cost of loans based on customer risks, setting the stage for expensive credit for small traders and workers in the informal sector.
Equity Bank is the first lender to publicly reveal that the CBK has approved the risk element in its lending formula, pricing its loan at between 13 percent and 18.5 percent compared to the current average of 13.5 percent…
