{"id":29479,"date":"2016-10-17T01:27:26","date_gmt":"2016-10-17T01:27:26","guid":{"rendered":"https:\/\/new.igihe.com\/africa-rwanda-ranks-high-on-credit-access\/"},"modified":"2016-10-18T05:17:02","modified_gmt":"2016-10-18T05:17:02","slug":"africa-rwanda-ranks-high-on-credit-access","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/africa-rwanda-ranks-high-on-credit-access\/","title":{"rendered":"Rwanda Ranks High On Credit Access"},"content":{"rendered":"<p>{Rwanda ranks top in sub-Saharan Africa for access to credit financing, followed by Kenya and Zambia, according to a report by the Institute of Chartered Accountants in England and Wales (ICAEW) and Oxford Economics titled Economic Insight Africa.}<\/p>\n<p>According to the report, and insights from the World Bank&#8217;s Doing Business Rankings, Zambia came in second followed by Kenya, Ghana, Mauritius, Uganda, Namibia, Nigeria, South Africa, Botswana, Zimbabwe, Cote d&#8217;Ivoire, Tanzania, Ethiopia and Angola. Rwanda has implemented several reforms to improve access to credit in the past six years.<\/p>\n<p>{{Interest rates caps}}<\/p>\n<p>Kenya&#8217;s ranking is due to its law prohibiting banks from lending at rates higher than four percentage over the Central Bank Rate.<\/p>\n<p>&#8220;The interest cap enacted in Kenya benefits customers by both keeping the rates regulated, as well as spurring greater competition among banks,&#8221; said Michael Armstrong, ICAEW regional director for Middle East, Africa and South Asia.<\/p>\n<p>As a whole, sub-Saharan Africa performed relatively poorly compared with other regions in terms of access to credit, with a regional average Distance to Frontier (DTF) score of 35.9.<\/p>\n<p>The DTF score captures the gap between an economy&#8217;s performance and a measure of the best practice across the entire sample &#8212; with 100 being the frontier. The lower the DTF score achieved, the worse the access to credit.<\/p>\n<figure class=\"spip-document spip-document-15772 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/1420462086_mg_1587-3.jpg\" alt=\"Kigali city \" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>{Rwanda ranks top in sub-Saharan Africa for access to credit financing, followed by Kenya and Zambia, according to a report by the Institute of Chartered Accountants in England and Wales (ICAEW) and Oxford Economics titled Economic Insight Africa.} According to the report, and insights from the World Bank&#8217;s Doing Business Rankings, Zambia came in second [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[2460],"hashtag":[],"class_list":["post-29479","post","type-post","status-publish","format-standard","hentry","category-news","tag-homenews","byline-the-east-african"],"bylines":[{"id":2460,"name":"The East African","slug":"the-east-african","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"contributors":[{"id":2460,"name":"The East African","slug":"the-east-african","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/29479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=29479"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/29479\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=29479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=29479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=29479"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=29479"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=29479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}