When the Central Bank of Kenya (CBK) announced last month that lenders would offer relief on personal loans for borrowers distressed by the Covid-19 global pandemic, there was excitement among many debtors, especially those who expected to benefit from the three-month holiday.
To cushion borrowers, the banking regulator had said that all current loans as at March 2, 2020 would be eligible for short payment holidays of upto three months or rescheduled payments of upto one year.
