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Didmus Barasa and John Waluke must either be audacious or avid readers of the book 'The Subtle Art of Not Giving a...'

Branch Mobile Loan App Buys Kenyan Bank File image of a man on his phone Twitter Popular mobile loan app "Branch" has received regulator approval to buy majority shares in Century Microfinance Bank Limited.  A gazette notice dated Friday, May 7 indicated that Branch International Limited had been authorised to take up 84.89% of the issued share capital in Century Microfinance Bank Limited. "Pursuant to the provisions of section 46 (6) of the Competition Act, 2010, it is notified for general information that in exercise of the powers conferred upon the the Competition Act, the Competition ...

February 22, 2021 A new Kenyan bill seeks to license and regulate digital lending platforms in the country, in a bid to clamp down on the issuance of high-interest loans as well as the predatory practices that have accompanied the industry’s massive growth. Mobile lending apps have become an easy source of credit for Kenyans who don’t have accounts with banks and other traditional financial institutions, or the regular income needed to borrow from such establishments. Since the launch of the mobile-based savings and loans product M-Shwari by Safaricom in 2012, dozens of lending apps have ...

Digital lenders need to embrace CBK regulation Wednesday February 10 2021 By BUSINESS DAILY Summary The debate on whether digital lenders should be regulated by the Central Bank of Kenya (CBK) is back in the news thanks to a private members Bill by nominated MP Gideon Keter. A contrasting view has, however, been that since digital lending apps do not take deposits, the lenders do not require a licence from the CBK unlike the traditional banking and microfinance institutions. The debate on whether digital lenders should be regulated by the Central Bank of Kenya (CBK) is back in the news thanks...