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Borrowing Money There’s a pervasive myth that no debt is good debt. Whenever we’re talking about owing money these days, it’s almost always in a negative light. You hear it every day: homeowners are underwater, the national deficit is surging, consumers are saddled by shortsighted credit card spending, the nation’s graduates are buried under student loans. For businesses, the truth about debt is far less ominous. As the high finance set understands, not all borrowing is bad. For small .....

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Aside from the occasional indulgence, most financially successful people keep a close eye on their budgets and bank balances.     People have struck it rich by launching social media startups, inspiring wildly successful crowdfunding campaigns and writing wizard-themed best-selling books. But most successful people have far more boring backstories of accumulating wealth through savvy spending and smart saving strategies. Aside from the occasional indulgence, most f.....

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To compete in Africa’s diverse mobile money markets, banks must offer distinctive mobile and digital services not only in payments and deposits, but across the spectrum of financial services. Africa is the global leader in mobile money, which has become an important component of Africa’s financial services landscape. Mobile network operators (MNOs) have dominated mobile money services in Africa for the past decade. More recently, fintechs have established a solid footing in the market, and .....

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The economic development of any country is undoubtedly dependent on its financial system. A strong banking system, alongside efficient financial markets, are essential for economic growth through resource mobilisation, investment, facilitation of trade and risk diversification. Some countries still suffer from poverty, low income and a high unemployment rate because they can’t find the right path to build a strong and credible financial system. A large concentration of these countries are in A.....

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Summary Figure rises from Sh400,000 to Sh600,000 as lenders go for large borrowers This, CBK says, has resulted in the overall reduction in customer accounts. CBK has at the same time warned over the risk of declining capitalisation in banks as a result of the law. The average loan size has risen from Sh400,000 to about Sh600,000 since the debut of the rate capping law in September 2016 as lenders shower large borrowers, deemed less risky, with cash. Bank and microfinance n.....