Barclays Sees Kenyan Banks Rushing to Raise Debt for Capital

Bella Genga | September 15, 2017

Barclays Sees Kenyan Banks Rushing to Raise Debt for Capital
Kenyan lenders risk needing to raise expensive debt on local markets next year to shore up their core capital levels, which may be eroded by new accounting standards the country is introducing that compel banks to classify losses differently. That’ll be a double whammy for an industry already reeling from the effects of interest-rate caps introduced a year ago, accelerating a decline in banks’ return on earnings to 24.7 percent by the end of last year, down from as much as 30 percent five years earlier, according to Jeremy Awori, chief executive officer at Barclays Bank Kenya Ltd.

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While much of the media and industry insiders continue to pound the table on new forms of finance such as crowd funding the vast majority of small businesses remain unaware of new options. Most likely these smalls are way too busy running their firms and paying bills to learn about peer to peer lend


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Spotlight

While much of the media and industry insiders continue to pound the table on new forms of finance such as crowd funding the vast majority of small businesses remain unaware of new options. Most likely these smalls are way too busy running their firms and paying bills to learn about peer to peer lend

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