Fintech loans leave trail of regret and shame on Kenyans
Kenyans are giving tales of pain including the sale of personal assets to get creditors off their backs.
Source: theeastafrican.co.ke
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CBK Governor lauds Ruto's move to slash government expenditure
NAIROBI, Kenya, Oct 1 – The Central Bank of Kenya (CBK) Governor Patrick Njoroge has lauded President Ruto’s directive to the Treasury and ministries to Kenya breaking news | Kenya news today |
Source: capitalfm.co.ke
10 digital loan firms given licences as 278 others wait
CBK ordered all unregulated lenders who did not apply for the licences to cease operations.
Source: nation.africa
CBK Approves 10 Digital Lenders Out Of 288 Initial Applicants In New Lenders Law
In the recent past, there has been an increase in digital lending most households have adopted this kind of borrowing to get by on daily expenses. Due to the flooded market of digital lenders, Kenyans have in the past fallen victim to credit fraud that includes high-interest rates, rollover fees, and hidden charges when receiving credit. Also, unauthorized Digital Lenders have been found to abuse personal information as well as enforce unethical debt collection practices.
Source: kachwanya.com
CBK Publishes List of 10 Approved Mobile Lenders
CBK noted that ten mobile lenders had been approved out of the 288 applications that had been filed since March 2022.
Source: kenyans.co.ke