EABL received approval to raise up to KSh 20 billion through a new Domestic Medium Term Note Programme EABL will issue its first tranche of up to KSh 11 billion at an annual interest rate of 11.8% for five years.
This is how the rich use money to get richer.
A commoner will walk into a bank and beg for a loan, that comes unsecured at 17.8% from the cheapest Bank at the moment, ABSA. Mortgage is 16% and the much you can get is a few millions, Tuju ndio niliskia alipewa billion in loan, but the argument here is commoner.
EABL or is it Diageo? decided that 20B, with a B is just too much to risk it as a loan, rather they should sell it to the public as a bond, and pay people peanuts in form of dividends 11.8% for 5 years. Which is okay, ukiwa na pesa wekelea.
I wonder why Kenyan YouTubers have not caught wind of this, and when they do, I’m sure they will sell the bond overnight with emotions and the FOMO attitude.