Covid-19: Kenyan Banks Offer One Year Relief On Personal Loans


Kenyan banks will allow personal borrowers who get into difficulties due to the new coronavirus pandemic to extend their loans for up to a year, the central bank governor said on Wednesday.

The country has seven confirmed cases of the COVID-19 and the government has imposed measures aimed at reducing its spreads including banning public gatherings and closing schools indefinitely.

“We don’t want this health crisis to become a financial crisis,” Patrick Njoroge, the governor, told a televised news conference.

Small and medium enterprises who encounter difficulties will also be allowed to restructure their bank loans at no cost, he added.

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