Nairobi, Jan. 28 -- Nothing describes frustration than the tale of a banker who has to plead with his customer to choose their own terms on how they will repay a loan they have already defaulted on.
The shoe is usually on the other foot, with an overbearing lender deciding on how long you will stay with their money, what rate you will pay and setting up painful repercussions for missing payments that should whip you into line.
The famous quote, "If you owe the bank $100, that's your problem. If you owe the bank $100 million, that's the bank's problem", holds true until you are in Kenya in 2020.
Almost everyone who took out a real estate loan is defaulting, becoming the banks' problem.
Bankers are unable to sell property on the auction m...