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Originally published by The Standard BusinessAugust 12, 2025
1w ago
Why banks are in the spot over expensive loans
Banks have always come under fire by both the regulator and customers for being slow to reduce the rates when the CBR is revised downwards, but quick when it is raised...
✨ Key Highlights
Banks in Kenya are under scrutiny for high lending rates, with President William Ruto recently challenging the Kenya Bankers Association (KBA) to explain why interest rates remain elevated.
- As of June 2025, the lending rate stood at 15.28 per cent, according to the Central Bank of Kenya.
- Kennedy Mutisya, Chief Finance Officer of the KBA, faced a direct question from President Ruto regarding sluggish interest rate reductions.
- The exchange occurred after Mutisya presented an innovative idea for the government to pay VAT refunds using bonds.
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