Lee Kinyanjui Announces Drop in Kenya Loan Rates from 19pc to 12pc

Kenyan borrowers could be entering a period of cheaper access to credit, with Trade Cabinet Secretary Lee Kinyanjui saying some commercial banks have reduced their lending rates to as low as 12 per cent from the 18 to 19 per cent levels recorded two to three years ago.The reduction marks a significant change in the country’s borrowing environment, particularly for businesses and individuals who have struggled with expensive loans, high monthly repayments and limited access to financing.