NAIROBI, Kenya Feb 9-Branch International Limited has acquired a majority stake in the Century Microfinance Bank Limited (Century MFB) effective January Kenya breaking news | Kenya news today |
The signing into law of the Central Bank Amendment Bill 2021 that brings digital lenders under the watch of the banking regulator should draw a line under their predatory lending.
Mobile digital lenders will be required to disclose the total charges including interest rates, late payment and rollover fees for their loans before disbursing credit to customers.