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Kenya's president signs new law to police digital lenders, apps have six months to apply for licenses – TechCrunch

In the past decade, numerous mobile lending apps have been launched in Kenya, riding on the growing need for quick loans. However, these startups have been operating in an unregulated environment — until today, when the country’s president, Uhuru Kenyatta, approved a new law that gives the country’s monetary authority, the Central Bank of Kenya […] ....

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Kenyan fintech Asilimia raises $2 million in a pre-seed round, plans to extend loans to MSMEs and expand in East Africa – TechCrunch

Kenya’s economy is powered by informal businesses, which contribute 33.8% to the country’s GDP and provide 83.4% of the total employment outside of small-scale agriculture, data from the country’s bureau of statistics shows. The contribution of these enterprises is pivotal to the country’s economy yet they remain underserved by traditional banking institutions making it hard […] ....

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Kenya Central Bank Seeks 'Teeth' to Regulate Digital Lenders

Kenya Central Bank Seeks 'Teeth' to Regulate Digital Lenders
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Kenya Central Bank Seeks 'Teeth' to Regulate Digital Lenders

Kenya Central Bank Seeks 'Teeth' to Regulate Digital Lenders
bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.

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