CBK raises alarm over digital loan spree ahead of Christmas



Business Daily | by John Mutua


The Central Bank of Kenya (CBK) has warned of undisclosed action against digital lenders to protect Kenyans from predatory lending ahead of Christmas and the resumption of schools.

Central Bank governor Patrick Njoroge on Tuesday told Parliament that the regulator was keen to protect Kenyans from unfair lending practices before adoption of a proposed law that places the digital lenders under the watch of the baking regulator.

The CBK will regulate monthly interest rates charged by…

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