Battle for small savers hots up John Mbaria
Publication details: Nairobi Nation Media Group February 9-15 2009Description: p.23, The EastAfrican, February 9-15 2009Subject(s): Summary: A quiet but intense struggle is going on between commercial banks and micro-finance institutions in Kenya over the low profile credit market represented by the millions of low-income earners whose savings amount to an estimated Ksh.10 billion. MFIs say they nurtured small enterprises at a time when banks would not touch them and banks are now using privileged information to 'poach' their clients.
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A quiet but intense struggle is going on between commercial banks and micro-finance institutions in Kenya over the low profile credit market represented by the millions of low-income earners whose savings amount to an estimated Ksh.10 billion.
MFIs say they nurtured small enterprises at a time when banks would not touch them and banks are now using privileged information to 'poach' their clients.
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