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Simon Kashumala v. Leonard Mutajwaha, (PC) Civ. App. 16-D-67, 16/2/68, Saudi J.
This was an action to recover money loaned, plus interest at the rate of 25% per annum, the interest rate requested being part of the contract between the parties. The High Court quashed the lower court Judgment and ordered a trial de novo.
The Court stated, obiter; “(I)nterest at 25% p. a is excessive and the respondent should not be allowed more than 9% interest or the loan until 15/7/66 when the first judgment was pronounced, and 6% interest on the decretal amount, if any, after the date of judgment.
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