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Govt borrowings are driving interest rates upward — Chioke, CEO, Afinvest

The banking industry is growing and there will be specialization for everyone. Even from the report, the size of growth over the years using any of the metrics recorded double digit growth in the industry overall. But the tier-1 banks are growing faster. What will happen in the industry is that there will be areas of specialization.

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High cost of borrowing: Who is fooling who?

There is a limit to which you can grow a business with personal savings; invariably, sustained growth and expansion require additional capital, which may be subscribed or borrowed. It is less risky, for example, to borrow, if loanable funds come with cheaper rates below 5%, especially where gestation is necessarily extended; besides, easier access to cheap funds generally stimulates businesses to create more job opportunities. Furthermore, material inputs, similarly financed with low interest loans, will also reduce production cost, and sustain consumer demand with affordable prices.

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