Tag: Digital Lenders

Digital Lenders Finally Gagged from Threatening Customers in New CBK Regulations

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As we had reported before, the CBK Amendment Bill, 2021 has since been signed into law by the President of Kenya. This means that...
Loan Apps Kenya

President Kenyatta Signs Into Law the CBK Amendment Bill That Finally Regulates Online Lenders

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President Kenyatta has signed into law the Central Bank Amendment Bill, 2021. The development means that the CBK has the power to tame various parts...
Loan Apps Kenya

CBK Directive on CRB Listing Has Lost 4 Million Customers for Online Lenders

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Digital lenders have offered their services to Kenyans for a long time without any kind of regulation from the CBK or key parties such...
Loan Apps Kenya

Digital Lenders Face Prosecution and Hefty Fines For Debt-Shaming In Nigeria

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The whip is cracking, and it is doing so loudly across the African continent on rogue digital lenders, out of increased concerns on an...
central bank of kenya

Debt Shaming Digital Lenders Will Have Their Licenses Revoked By Central Bank

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Digital lenders will have to operate under the same laws that bind the business of commercial banks, once all the changes in the Central...
Loan Apps Kenya

Why Okash and Debt Of Shame Are Trending on Twitter

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Yesterday, Citizen TV aired a news item about online loan apps or digitized loan sharks that have made the life of many Kenyans very...

CBK Bill Highlights Some Digital Lenders Could Be Laundering Money

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We are hoping that soon, predatory digital lending apps will be a thing of the past if the proposed CBK (Amendment) Bill, 2021 will...
cbk

Central Bank of Kenya Cracks Whip on Unregulated Digital Lenders By Denying Them CRB Access

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Today, the Central Bank of Kenya has announced that they have terminated access to the credit reference bureaus (CRBs) to rogue mobile money lenders. "With...
Mobile Lenders

CBK to Initiate Tougher Rules On a Mostly Unregulated Digital Lending Platform

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A couple of days ago, I was having a chat with a friend about the number of online lenders that have come up after...
Mobile Lenders

Kenya’s Finance Ministry to Introduce Regulative Framework for Digital Lenders

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The success of mobile lending apps is, admittedly, attributed to the foundation laid by M-PESA services. It is, perhaps, the primary factor that such...