Nation | by Brian Wasuna
Mobile loans apps are walking a tight rope despite the billions of profit they rake in every time borrowers click to accept a soft loan to cushion them in tough times.
The contracts that borrowers “sign” while taking loans are risky. There is no security, and some legal minds argue that there is no recourse in the event of default as the contracts can be deemed to be null and void on one simple ground – failure to notify guarantors of the facility…
