Peter Macharia Kamau, the Founder, Managing Director, and CEO of Jijenge Credit Limited, has expressed strong support for the Kenya Bankers Association’s recommendation to further reduce interest rates ahead of the Central Bank of Kenya's (CBK) Monetary Policy Committee (MPC) meeting scheduled for February 5, 2025.
With over three decades of experience in the financial sector, Kamau believes that lowering the Central Bank Rate (CBR) would significantly encourage more borrowing across Kenya, especially in light of the ongoing economic challenges. He emphasized that such a reduction would be particularly beneficial for micro-businesses and individuals seeking affordable credit to support and grow their enterprises.
Jijenge Credit Limited, a non-deposit-taking digital credit provider regulated by the CBK, specializes in offering loans secured by car logbooks and title deeds. The company prides itself on providing some of the lowest interest rates in the market, using a risk-based pricing model that allows new clients to benefit from competitive rates. This, according to Kamau, plays a critical role in helping Kenyan businesses, particularly those in the informal sector, access timely and affordable credit.
The CBK had already taken a step towards lowering borrowing costs by reducing the base lending rate by 75 basis points from 12% to 11.25% in December 2024. Kamau now advocates for a further reduction to foster economic growth and improve access to credit for the country’s businesses and individuals.
As the MPC prepares to meet next week, the financial community will be watching closely to see if the CBK will heed calls for a more aggressive rate cut, aiming to stimulate borrowing and investment across the region.
Jijenge Credit Limited continues to position itself as a leader in offering quick, affordable loans, helping clients access funds efficiently and with
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