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Interest rate caps save seven NSE-listed firms Sh800m finance costs
From left, ARM Cement chief executive Pradeep Paunrana, Deacons Kenya Limited CEO Muchiri Wahome and Flame Tree Group managing director Heril Bangera. Their firms have emerged as among the biggest beneficiaries of the new law regulating interest rates. PHOTOS | FILE
A recent capping of interest rates has re-priced Sh26.9 billion worth of loans held by seven listed companies, promising them savings of more than Sh800 million in annual finance costs, according to the latest analysis.
ARM Cement, East African Cables, property developer Home Afrika, Uchumi Supermarkets, fast moving consumer goods manufacturer Flame Tree and fashion retailers Deacons and Nairobi Business Ventures have emerged as the biggest beneficiaries of the new law regulating interest rates even as the lenders continue to warn about the danger to the economy of interest rate controls.
