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CAK probes digital lenders over high fees, opaque loan terms
Competition Authority of Kenya (CAK) Director-General David Kibet Kemei speaks during the launch of the 2024 Banking Customer Satisfaction Report at the Radisson Blu Hotel on February 12, 2025.
Photo credit: Francis Nderitu | Nation Media Group
The Competition Authority of Kenya (CAK) is investigating several digital lenders following a surge in consumer complaints on excessive interest charges and hidden clauses in loan contracts.
CAK Director-General David Kemei told the Business Daily that the digital lending industry is among the new sectors the authority is actively scrutinising after receiving multiple reports of abuse.
