Banks caught between Ruto's lending push, rising bad loans

President William Ruto has renewed his criticism of Kenya's cash-rich commercial banks, accusing them of denying millions of small businesses access to affordable credit...

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Kenyan President William Ruto has renewed his criticism of commercial banks, accusing them of withholding affordable credit from small businesses despite record profits.

78% of banks plan to intensify credit recovery efforts in the trade sector, according to a Central Bank of Kenya survey.
The clash highlights a standoff between the government and the banking sector over lending practices.
President Ruto pointed to the government-backed Hustler Fund as evidence that profitable lending at single-digit interest rates is feasible.

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