Lower interest rates, DP Ruto tells banks


Deputy President, William Ruto
Deputy President, William Ruto

Deputy President William Ruto has asked all financial institutions in the country to lower interest to enable many Kenyans access loans easily.

Speaking on Friday at Chichila High School at Kipkelion West Constituency in Kericho County, Ruto said that the country’s economy was on an upward surge adding that it was advisable for the banks to focus on attracting more customers with lower rates than keep the rates high and experienced a dip in numbers.

He said: “I urge all the remaining financial institutions that have not yet lowered their interests   in response to the resurgent economy, do so because it is better to have a bigger base of customers with the low rates than few customers with the very high interest rates.”

He further noted that the government had cut down on unnecessary expenditure to help in recharging the economy adding that the recent austerity measures had started bearing fruit as shown by the falling bank interest rates.

“I would like to commend the banks that have lowered their interest rates as this indeed will go a long way in growing individual economies and that of the country at large,” he added.

The DP urged Kenyans and especially political leaders to shun tribalism and focus on ideologies and policies that will help improve the living standards of Kenyans.

“As leaders we cannot talk about uniting the country and at the same time stick to our tribal cocoons. We should look at the bigger picture and leave our tribal cocoons for the greater good of the country,” he added.

He appealed to people living in the border areas of Kericho and Kisumu counties to continue fostering peace in the border area saying it was critical to national cohesion.

Ruto also announced that the government will repay the Sh50 million debt incurred by dairy farmers, which had accumulated in the last 17 years, and consider settling the Sh50 million debt for coffee farmers in the county.

The deputy president further revealed plans by the government to install medical equipment worth Sh425 million and Sh380 million at the Kericho County Hospital and Sigowet hospital respectively by March next year.

A section of elected leaders allied to Jubilee reaffirmed their support for the coalition saying they will defend their seats on the new Jubilee Party in 2017.

Among the leaders present include Kericho Governor Paul Chepkwony, county Senator Charles Keter , MPs Benjamin Langat (Ainamoi), Joseph Limo (Kipkelion east), Jackson Rop (Kipkelion West), Justice Kemei (Sigowet Soin), Leonard Sang (Buret), Eric Keter (Belgut) and Kericho County women representative Hellen Chepkwony.

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Story By Benjamin Wafula
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