Business Daily | by John Mutua
The Central Bank of Kenya (CBK) will license all mobile loan providers if Parliament passes a proposed law seeking to weed out predatory lending.
Digital lenders without operating licences will be barred from business in a bid to push out rogue players amid concerns of unethical practices such as over pricing of loans, illegal mining of customer private data and shaming of borrowers who default on repayment.
The Central Bank of Kenya (Amendment) Bill of 2020, if passed, will also compel the CBK to…
