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Digital lenders stop loans below Sh1,000 on CBK rule
Board Chair of the Digital Lenders Association of Kenya (DLAK), Kevin Mutiso speaks at a past event on September 12, 2023, at Movenpick Hotel in Nairobi. PHOTO | BILLY OGADA | NMG
Digital lenders have raised the minimum loan value to above Sh1,000 on the Central Bank of Kenya (CBK) regulations that barred them from negatively listing defaulters on small ticket mobile phone credit.
This is after the lenders were spooked by default rates on loans below Sh1,000, making them to effect the review to be able to list defaulters with the credit reference bureaus (CRBs).
