Business Daily | by Otiato Guguyu
Microfinance banks cut lending in the second quarter to June amid fears of default in the wake of coronavirus economic fallout that delivered jobs cuts and closure of businesses.
Central Bank of Kenya (CBK) Financial Stability report showed that the 14 microfinance banks (MFBs) under its watch recorded negative loan growth of 1.5 per cent, without giving the exact value of the disbursed loans.
This was the first negative growth since June 2018 when the micro lenders reported a negative 1.1 per cent loan growth…
