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CBK pushes for lower mobile loan fees

Former World Bank Vice President Arunma Oteh (left) with CBK Governor Patrick Njoroge at the 2019 Afro-Asia Fintech Festival on July 15, 2019. PHOTO | DIANA NGILA | NMG

By  CONSTANT MUNDA

Correspondent

The Central Bank of Kenya (CBK) has stepped up talks with banks to lower the cost of mobile phone-based loans amid claims they are saddling borrowers with expensive debt.

CBK Governor Patrick Njoroge said the discussions go beyond the the interest on loans to processing charges and facilitation fees.

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