William Ruto today the 14th September 2021, held a meeting with Nairobi's small business owners in his Karen residence. In a video doing rounds I'm social media, the Deputy President regrets the fact that of the 14 million Kenyans listed on Credit Reference Bureau (CRB) the majority are small business owners like Mama Mbogas, Bodabodas and Barbers.
He said, "God willing, my government will set aside money that will make it possible for small business owners to access through Saccos and pay back at an interest of 2% or 3%." According to William Ruto, Fuliza, Shylocks and many more money lenders are exploiting the small business owners with punitive interests that runs to over 1000% per year while big businesses and companies access loans at 15% per year. He wondered how small businesses could grow under such circumstances and it's owners be able to avoid being listed on CRB.
What are your thoughts about William Ruto's plans to save the majority of Kenyans from the CRB through his government's friendly loan interests? Share your thoughts with us in the comments section.