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Sunday 15th, December, 2024

8:33 PM EAT

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Banks exploit policy gap to inflate short-term loan rates

Peter Okong’o Higher rates of default by borrowers are pushing up the cost of short-term debts that include credit cards and mobile loans. A top tier bank has already written to its customers alerting them of an increase in the interest it charges on credit cards. “Due to the increase in cost of credit, we […]