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Kenya is doubling straight straight down on regulating mobile loan apps to combat predatory lending

Kenya is doubling straight straight down on regulating mobile loan apps to combat predatory lending

Digital companies that are lending in Kenya are arranged for the shake-up.

The country’s main bank is proposing brand new guidelines to modify month-to-month interest levels levied on loans by electronic loan providers in a bid to stamp down exactly exactly what it deems predatory methods. If approved, electronic loan providers will need approval through the bank that is central increase financing prices or introduce new items. Continue reading Kenya is doubling straight straight down on regulating mobile loan apps to combat predatory lending