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Kenya refuses to cap rate in draft law

Kenya’s Treasury avoided mentioning a cap on commercial-bank lending rates in a draft law on the conduct of the financial sector that was published for public comment late on Wednesday. The government capped commercial lending rates in September 2016 at 4 percentage points above the central bank’s benchmark rate, which […]

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Troubled Steinhoff repays $2.3bn African debt

Crisis-hit South African retailer, Steinhoff, has repaid about 2 billion euros ($2.34bn) of its debt in Africa after its local unit used the proceeds of a fundraising to pay back 16 billion rand ($1.26bn) in shareholder loans. The retailer has been fighting for survival after it discovered accounting irregularities in […]

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