In 1980, long-term interest rates stood at 11.4% in the U.S. and 8.5% in Germany. On average, over 2016 they have been about 1.9% and 0.3%, respectively and at about 0.3% for the euro area as a whole.
Micro Small and Medium-size Enterprises (MSMEs) were shut out and had to contend with shylocks at highly unfavorable terms. Certainly this did not engender shared prosperity among Kenyans. But the lingering question is whether banks will now roll back to their old ways, or will they strive to build a banking sector that works for and with all Kenyans.