A decision by Kenya’s appeal court last week has brought home a sad fact: some banks, especially those dealing with home loans, treat customers as though the law doesn’t exist, charge them as they like, and fail to keep proper records.

The case concerns Scholarstica Muturi, a stock exchange agent who took a loan with Kenya’s House Finance Co Ltd in about 1998. She asked for 3-million Kenyan shillings and offered two properties she owned as security.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now