Tag: Digital Lenders
Digital Lenders Finally Gagged from Threatening Customers in New CBK Regulations
As we had reported before, the CBK Amendment Bill, 2021 has since been signed into law by the President of Kenya. This means that...
President Kenyatta Signs Into Law the CBK Amendment Bill That Finally Regulates Online Lenders
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...
CBK Directive on CRB Listing Has Lost 4 Million Customers for Online Lenders
Digital lenders have offered their services to Kenyans for a long time without any kind of regulation from the CBK or key parties such...
Digital Lenders Face Prosecution and Hefty Fines For Debt-Shaming In Nigeria
The whip is cracking, and it is doing so loudly across the African continent on rogue digital lenders, out of increased concerns on an...
Debt Shaming Digital Lenders Will Have Their Licenses Revoked By Central Bank
Digital lenders will have to operate under the same laws that bind the business of commercial banks, once all the changes in the Central...
Why Okash and Debt Of Shame Are Trending on Twitter
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
We are hoping that soon, predatory digital lending apps will be a thing of the past if the proposed CBK (Amendment) Bill, 2021 will...
Central Bank of Kenya Cracks Whip on Unregulated Digital Lenders By Denying Them CRB Access
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...
CBK to Initiate Tougher Rules On a Mostly Unregulated Digital Lending Platform
A couple of days ago, I was having a chat with a friend about the number of online lenders that have come up after...
Kenya’s Finance Ministry to Introduce Regulative Framework for Digital Lenders
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...
