Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Complaints about digital lenders jump five times
The complaints against digital lenders continue as the regulatory noose tightens, with players in the industry requiring licences from the CBK since 2022.
Complaints to the competition watchdog about digital lenders’ hidden charges, change of borrowing terms and premature assets seizure increased five times amid tighter regulations aimed at curbing predatory lending
Data from the Competition Authority of Kenya (CAK) show complaints from borrowers rose to 355 cases in the year to June last year, up from 67 the previous year.
