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Thousands of Kenyans to Lose Multi-Million Properties in New Crackdown An aerial view of mansions in Lower Kabete and Kitisuru. Twitter The Central Bank of Kenya (CBK) on Wednesday, March 31, released data on credit defaults which shows that thousands of home owners defaulted on mortgage loan repayments, and therefore risk losing their homes among other properties. The data by CBK showed that 14.5 per cent of all loans taken have been defaulted. The new figure represents a sharp increase of all defaulted loans which stood at Ksh 349.94 billion at the end of February 2020, but hit Ksh 432.45 b...

Digital lending space ripe for firm regulation Tuesday March 09 2021 Summary Over time lending has become more sophisticated which led to the creation of banks which issue loans to borrowers at an interest. The growth of the banking sector necessitated heavy regulation to protect and guide the sectors’ players and to balance risks and opportunities in loan transactions. Modern day lending has moved away from the traditional mode where loans were mainly accessible through the banks to digital lending. The concept of money lending has existed for millennia. Since the commencement of trade, hu...

THE STANDARD OPINION A man pulls a handcart carrying a man outside parliament during the Budget reading of 2020/21 at the Parliament Buildings on June 11, 2020. [Elvis Ogina,Standard] The hustler ideology is a serious national discourse mainstreaming the search for a solution to the sorry economic situation of struggling Kenyans (the hustlers). The hustler narrative has gathered momentum across the country and for the first time in our history, become the only political ideology transcending ethnic formations. The disturbing revelation that over 14 million Kenyans are negatively listed by Cre...

Digital lenders call for laws that will grow sector Thursday December 17 2020 Kenyans turn to the digital micro-loans mainly for short-term working capital owing to their convenience. FILE PHOTO | NMG By KEVIN ROTICH Digital lenders have asked the Central Bank of Kenya (CBK) and legislators to enact laws that will spur the growth of the sector. This comes in the wake of the Central Bank of Kenya (Amendment) Bill, 2020 that seeks to curb high digital lending rates. The bill, which is yet to be approved by Parliament, will equip CBK with powers to increase digital lending rates and other loan c...