Kenyans will know in two weeks whether they will start enjoying lower interest rates on bank loans. This is after President Uhuru Kenyatta received the Banking Act (Amendment) Bill on Monday, from National Assembly Speaker Justin Muturi following its approval by lawmakers two weeks ago. State House Spokesman Manoah Esipisu confirmed that the President had received the Bill in the afternoon. Although some banks have offered affordable loans, reportedly setting aside over Sh30 billion to lend to small scale traders and workers at “affordable rates”, MPs led by Mr Njomo have dismissed the moved as a “public relations gimmick”. President Kenyatta will have to balance the expectations of both the public and the banks, making his task all the more challenging.

Source: Daily Nation August 15, 2016 21:45 UTC