Heard something like this over radio this morning , watu mko na loan what happened to interest caps??? Anyway, tano tena watu nguyas enjoy the ride and make sure you vote Ruto 2022 for even higher interest rates. This is the highest interest rate Ive heard of in my life anyway why lend money to Kenyans when their govt can take loans with better interest rates. This govt isnt here to facilitate citizens its here to compete with them even in borrowing loans .Sio mpesa,sio bank transactions charges,now its interest rates. I heard that if you have a 500k loan the interest will now be 95k.
You told us on Monday Ochillo Ayacko had withdrawn from the Migori senatorial race which was a lie so why should we believe you on this one?
Hiyo radio yako inaweza kuwa inashika Somalia.
But itatolewa very soon. Banks cannot be paying 20% witholding tax and loans be capped at 14%. Their margins are shrinking by every day. Im very sure by the end of the year that cap will be done away with.
Actually it’s the other way round. With interest capping, banks prefer to lend money to the government as opposed to you at 14% so the government is competing directly with you and small businessmen have to resort to Shylocks for loans
reduced transactions my friend. Kuna kitu inaitwa cash handling fees. Hapo najua watapoteza biashara. Transactions may not reduce thaat much, but zitareduce.
Hizo ni profits za 1st Half of the year. Hii 20% excise duty imeanza tu juzi.
It’s a vicious cycle. Increase taxation and people reduce expenditure meaning you collect less tax. Reduce taxation and increase people’s spending power resulting to an increased overall tax collection.
A little clarification, excise tax is on transaction fees. Before ulikuwa unalipa 10% sasa inaenda 20%, for example, ATM withdrawal charges might be 30 Bob plus excise tax ya 3 Bob, sasa excise tax itakuwa 6 Bob, you won’t even notice it.