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Borrowers use chairs, TV, cows to access Sh43.5bn
Cash-strapped Kenyans increasingly used household goods, livestock and office equipment to borrow Sh43.56 billion from commercial banks in the year to August when small businesses were starved of credit. FILE PHOTO | NMG
Cash-strapped Kenyans increasingly used household goods, livestock and office equipment to borrow Sh43.56 billion from commercial banks in the year to August when small businesses were starved of credit.
Central Bank of Kenya (CBK) data shows that nearly a third of the new loans of Sh150.56 billion issued by commercial banks used household goods, live animals and office equipment as collateral.
