EA banks face risk of reduced revenue, loss of business
Wednesday March 7 2018
Customers in a banking hall. Banks face the risk of reduced revenues and loss of business in the next five years due to the high cost of loans and large commissions on banking transactions. FILE PHOTO | NATION
In East Africa, Uganda has the highest lending rate at 21 per cent, followed by Tanzania and Rwanda averaging 18 per cent.
According to data by the US-based research firm Trading Economics, Morocco has lending rate of four per cent, interest rates in South Africa average 13 per cent, Egypt (12 per cent) and Nigeria (11 per cent).