Digital lenders lock out ‘bad’ borrowers

Angry man

A man angry at the contents of his phone. Mobile app lenders have reduced the number of their customers.

Photo credit: File | Nation Media Group 

What you need to know:

  • Covid-19 pandemic hit businesses and individuals hard, with many defaulting on their loans.
  • Some 14 million mobile loan accounts have been listed with the many CRBs 

Kelvin Mwangi, a resident of Ruiru, turned to a mobile lender when he needed medicine from a chemist late last year.

Welcome!

You're all set to enjoy unlimited Prime content.