All digital lenders operating in Kenya have six months to get new licenses or they will be shut down according to a statement from the Central Bank of Kenya (CBK). The CBK Governor, Dr. Patrick Njoroge said the requirement is in compliance with the CBK (Amendment) Act, 2021. There are more than 500 digital lenders in Kenya whose CBK has described as “advanced shylocks” that had taken advantage of desperate Kenyans to steal from them through high and unrealistic interest rates. This led to an outcry that called for regulations. Before the Act came into force, more than 500,000 who … Continue reading Digital Lenders Have 6 Months To Register Afresh