Record 400 digital lenders seek licence to operate in Kenya
Piles pressure on microfinance institutions.
Source: the-star.co.ke
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Digital lenders struggling with data law
Kassait says penalising sends a strong message
Source: the-star.co.ke
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
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 Sets New Rules For CRB Listing
The move will caution loanees as many Kenyans rely on loans from digital leaders given the short duration it takes for the loan to be processed.
Source: kenyans.co.ke