President Uhuru rejects bill law of contract bill

It was a sigh of relief for borrowers after president Uhuru Kenyatta declined to assent to a bill that would have compelled banks to seize property of defaulting borrowers  before touching guarantors assets. The contract amendment bill 2019 which has since been referred back to the national assembly for reconsideration sought to change section 3 that lays rules for signing agreements. The president says the bill in its  current form will not only be detrimental to the financial sector but will also adversely affect credit advanced to micro, small and medium enterprises