CBK governor backs return of costly loans to fuel growth

Central Bank of Kenya Governor Patrick Njoroge. FILE PHOTO | NMG

The Central Bank of Kenya (CBK) has renewed its push for the scrapping of controls on the cost of loans, terming the current interest rates cap law as a drag on economic growth.

Governor Patrick Njoroge said Tuesday the limited access to credit was hitting small and medium-sized businesses hardest, yet they are key drivers of growth.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.