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NAIROBI， Sept. 21 (Xinhua) -- The Central Bank of Kenya (CBK) said on Wednesday that the growth of credit to the private sector is slowing down.
CBK Governor Dr Patrick Njoroge told journalists in Nairobi that in June 2015 credit to the private sector grew by 18 percent but has slowed down to seven percent by end of June 2016.
"We suspect that one of the reasons is because the private sector prefers to get credit from other sources other than banks，" Njoroge said.
"We have been monitoring the growth of credit and we expected to see an annual growth of between 12 to 15 percent，" he said. He noted that a slowdown in credit normally indicates that overall economic growth is also slowing.
"We don't think that Kenya is experiencing an economic slowdown because all indicators should that economic growth is accelerating，" he said.
According to the CBK， the banks are also experiencing an increase in the percentage of non performing loans. "This is related to the lethargic growth in private sector credit，" Njoroge said.
The governor noted that despite the temporary ban on licensing of new banks， they have received interest from at least eight international banks wishing to set up base in Kenya.
"This is because of Kenya's well developed financial sector that make it a regional hub for east and central Africa，" he said.
Regarding the effects of the recently passed interest rate capping law， the CBK said that it will affect monetary policies of the country.
Njoroge said that risky borrowers could be cut off from accessing loans from formal financial institutions.
MANAGUA， Aug. 16 (Xinhua) -- Nicaraguan runner Erick Rodriguez finished 37th out of 43 runners in the 1，500m qualifying round at the Rio 2016 Olympic Games on Tuesday.
What makes Rodriguez stand out from the pack， however， is that he even got to the Olympic Games while dedicating much of his time to his small farm in northern Nicaragua.
The Nicaraguan Olympic Committee (NOC) highlighted in a statement that Rodriguez' background is unique， given his nature as a farmer in the province of Jinotega， 143km north of the capital Managua.
For Rodriguez， his twin realities could not be different. As one of just five Nicaraguan athletes in Rio， he has served his country well， winning a silver medal in the 1，500m at the Central American Championships in 2013， 2014， 2015， and 2016， but won gold in the 3，000m in 2016.
In a statement sent to Xinhua through the NOC， Rodriguez explained that his mother's apple farm in Jinotega is just big enough for the family's daily needs and to provide a small income.
"I currently live in Jinotega but I use my spare time to train，" he said， adding that he also looks after his wife and three-year-old daughter.
However， Rodriguez says that agriculture and athletics are his twin passions. On August 27， 2015 at the Athletics World Championships in Beijing， Rodriguez broke the Nicaraguan record for the 1，500m， finishing with 3:53.25， beating the 3:53.25 set in 1989 by runner Roger Miranda.
Nicaragua's delegation to Rio， besides Rodriguez， holds two swimmers， a shooter and a weightlifter.
The country has participated in 11 Olympic Games， starting with the Mexico City Olympics in 1968， but has never won any medal.
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