Tuesday 9 March 2021
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allafrica - 28 days ago

Kenya: Blow to Kenyan Banks as Saccos Close in on Own Money Market

[East African] Kenyan Savings and Credit Co-operative Societies (Saccos) are moving closer to the implementation of an inter-Sacco lending market and eventual integration into the National Payments and Clearing system in a development, leaving commercial banks staring at close to Ksh2.33 billion ($21.37 million) loss in interest income on loans granted to the co-operative sector.


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