Repayment period of personal loans extended by one year as borrowers feel the heat of coronavirus

Central Bank of Kenya governor Patrick Njoroge said the move would alleviate the adverse economic effects borrowers may face due to the ongoing coronavirus pandemic.

“People had borrowed personal loans; some may lose their jobs because of this pandemic, so they may not have the money to service these loans,” Njoroge said, urging borrowers to contact their banks to get the extension.

 

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