Loan apps in Kenya

5 Articles
The ODPC disclosed that it had received around 150 complaints relating to Whitepath and its unethical practices. [Photo/ BBC]
BUSINESSECONOMY

Data Commissioner Hits Loan Apps With Ksh5 Million Fine

The Office of the Data Protection Commissioner has hit digital credit companies Whitepath Company Limited and office space provider Regus Kenya with penalties...

The Central Bank of Kenya in March licensed 10 additional digital credit providers, bringing to 32 the total number of digital lenders licensed to operate in the country.
BUSINESSECONOMY

Google Bars Loan Apps Accessing Contacts, Photos

Google has announced new policy changes affecting loan apps hosted on its Play store. The company's updated personal loans policy states that apps...

Examples of digital loan services are Safaricom's M-Shwari and KCB M-Pesa, as well as loan apps such as Tala (pictured), Branch and Zenka. [Photo/ JITIMU]
BUSINESSECONOMY

Loan Apps in Kenya Fight New 20% Tax

A lobby group for digital lenders in Kenya has moved to court to challenge the imposition of a 20 percent excise tax on...

"The (registration) details will form the basis of early engagement between CBK and the DCPs for effective implementation of the Act," CBK states.
BUSINESS

Loan Apps Race to Beat CBK Registration Deadline

Digital credit providers have barely two weeks left to register their details with the Central Bank of Kenya (CBK). They are required to...

Among other things, digital lenders have been accused of exploitative lending, debt shaming, money laundering and illegal mining of private customer data. [Photo/ Cathryn Virginia | NBC News]
ECONOMY

Digital Loans to Flow Once Again as CBK Backs Apps’ Return to CRBs

Central Bank of Kenya (CBK) Governor Patrick Njoroge has called for digital lenders to be allowed to resume reporting loan defaults to Credit...