Category: Loans
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800,000 get ‘Hustler’ loans outside system
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The Hustler Fund issued loans worth Sh465 million to 809,351 Kenyans who had not registered for the product, exposing flaws in the operations of a microcredit scheme targeting low-income groups. Auditor General Nancy Gatongo revealed that people not included in the fund received cash during the first seven months of…
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CBK bags Sh12bn interest from loans to Treasury
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The Central Bank of Kenya (CBK) will receive a total benefit of Sh12.62 billion from emergency lending to the National Treasury in the financial year ending June 30, 2024, more than double original estimates after the policy rate hiked over the past 12 months. A report on Consolidated Fund Services…
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France topples China on loans as President Ruto looks West
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France and Germany have overtaken China in budgeted loans from rich countries for the new year that begins in July, highlighting President William Ruto’s realignment with the West in a foreign policy shift from that of his predecessors. In its budget books, the Treasury listed France as the largest bilateral…