African leaders demand review of lending ratesWednesday, September 6th, 2023 02:30 | By Malemba MkongoDelegates follow proceedings during day two of the Africa Climate Summit at Kenyatta International Convention Centre in Nairobi, yesterday. President William Ruto led the calls, maintaining the high interest rates charged by the lenders to African countries are punitive and ought to be repealed. Ruto said while other countries are charged fair interest rates, African countries were charged upto five times more than any other nation. The Head of State urged the lenders to rethink their financial treatment to African nations and lower the interest’s rates to cushion the nations from further damage. Practical solutions“In the meeting, we will only accept discussions on how we will raise the climate change capital and lower its debt.

Source: Daily Nation September 05, 2023 23:33 UTC