Farmers replace property developers as biggest loan defaulters in Covid-19 era
Summary
About 23.67 percent of outstanding Sh109 billion loans advanced to the sector were not being serviced as of the end of March compared to 16.03 percent a year earlier, making it the sector with the highest non-performing loans (NPL) ratio.
Agriculture’s NPL ratio marginally zoomed past building and construction (23.52 percent) and trade (19.14 percent) sectors, latest Central Bank of Kenya industry statistics shows.
Analysts attribute the elevated defaults on loan repayments in agriculture to depressed demand from sectors such as hospitality, which was hardest hit by the restrictions and shutdowns imposed to stem the spread of the pandemic.
Defaults on personal loans fall Sh2bn on CRBs return
businessdailyafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessdailyafrica.com Daily Mail and Mail on Sunday newspapers.
Equity Bank steps up efforts to educate customers on secure online banking
hapakenya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hapakenya.com Daily Mail and Mail on Sunday newspapers.
Employers say new tax measures will lead to job losses
Summary
Employers have faulted the recent taxation measures saying it will lead to job losses and impact negatively on businesses.
The Kenya Federation of Employers (FKE) says the new taxes will have farreaching negative effects on the cost of doing business, especially coming at a time when the country is battling with the effects of Covid-19.
The axes that took effect in July have made bank loans, Internet access and mobile phone calls costlier.
Friday July 23 2021
By GERALD ANDAE
Summary
Employers have faulted the recent taxation measures saying it will lead to job losses and impact negatively on businesses.