Is Loan Shaming Back for Borrowers?
The resurgence of loan shaming in Kenya is raising alarm, just three years after the government introduced regulations to eliminate aggressive and unethical debt collection practices by digital lenders. Recent complaints suggest that some firms are again defying rules set by the Central Bank of Kenya (CBK) and the Office of the Data Protection Commissioner […]
Banks Face Daily Fines from June for Failing to Lower Lending Rates, CBK Says
The Central Bank of Kenya (CBK) has announced it will begin imposing daily fines on commercial banks that fail to reduce their lending rates in line with the Central Bank Rate (CBR), effective June 2025. This comes as the regulator pushes to strengthen the transmission of monetary policy and ensure that borrowers benefit from the […]
Here Is Why KRA Plans to Access Your M-Pesa Balance
The Kenya Revenue Authority (KRA) is stepping up its scrutiny of M-Pesa transactions and bank accounts, introducing measures that will give the tax authority unprecedented access to personal financial data. Financial coach Good Joseph explains that this new directive aims to widen the tax base by tracking detailed information on how Kenyans are moving, receiving, […]