September 25, 2019 / 4:13 PM / 21 days ago

Kenya parliament rejects finance ministry request to scrap commercial lending rate caps

NAIROBI, Sept 25 (Reuters) - Kenya’s parliament rejected on Wednesday the Finance Ministry’s request to scrap commercial lending rate caps, a lawmaker who was present during a vote on the 2019/20 (July-June) fiscal budget said.

“The caps are going to remain,” Jude Njomo, who first pushed for changes in the banking laws in 2016 to introduce the caps, told Reuters by phone. (Reporting by George Obulutsa Editing by Chizu Nomiyama)

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