Unga Group is facing higher financing costs in the wake of the weakening shilling and the rise in the Central Bank Rate (CBR), which serves as the base for the pricing of some of its borrowings.
The company and its subsidiaries had taken loans—priced on the CBR plus a margin of three to 3.1 percent—amounting to Sh1.1 billion as of June 2023, according to its latest annual report.
