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Kenyan Banks Press Government on Rate Caps as Lending Slows

  • Talks needed to arrest slowdown in credit growth: Barclays
  • Banking lobby group assessing impact of law on economy
Updated on

Kenyan banks are in talks with the government about changing a law that caps commercial interest rates as lending in East Africa’s biggest economy slows, Barclays Bank of Kenya Ltd. Chief Executive Officer Jeremy Awori said.

“Those dialogues are underway between the Kenya Bankers Association and members of parliament around what would work,” Awori said Wednesday in an interview in the capital, Nairobi. The head of the bankers’ association, Habil Olaka, confirmed the talks.