President Uhuru Kenyatta on Thursday evening released a press statement explaining why he had signed the interest rates Bill into law.

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The Bill passed by Parliament the same day capped bank interest rates at 14.5 percent.

This is the first time the president is coming out publicly to explain to the country why he chose to make that decision.

But what was the motive of this decision at this particular time? 

I personally did not see the need for this.

My understanding of the statement is for the president to play innocence so that he is not victimized by the banking fraternity.

We already know that the president is among individuals with interests in the banking industry.

Am convinced that he did not willingly sign this Bill into law. He only did it due to public pressure.

The president, therefore, had to play safe especially taking into account the fact that he still needs a re-election in 2017.