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

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

Digital lending organizations running in Kenya are create for the shake-up.

The country’s main bank is proposing brand brand brand new regulations to manage month-to-month interest levels levied on loans by electronic loan providers in a bid to stamp away just exactly exactly just what it deems predatory methods. If authorized, electronic loan providers will need approval through the main bank to increase financing prices or introduce new items.