News Banks won’t have to raise cost of loans after rate cap reviewKCB Group chief executive Joshua Oigara, who is also the Kenya Bankers Association governing council chairman. --SALATON NJAULast week, the High Court struck out the rate cap law on the grounds it is unconstitutional, giving the National Assembly 12 months to review it. THE HIGH COURT RULING ON THE RATE CAP LAW HAS SET THE STAGE FOR ITS REVIEW. We believe that natural pricing of credit will come down, so we are not anticipating that we would go back to high credit pricing for the public. Even without the rate cap I think credit would on average still be in the 13 to 15 percent range.

Source: The North Africa Journal March 21, 2019 18:33 UTC