On Wednesday, National Assembly Speaker Justin Muturi sanctioned investigation into digital money lending with a view to stop unregulated money lending. If your answer to either of the questions is in the affirmative, you may not get a loan from digital apps going forward. This will help us stop lending to students and those who don’t have capacity to repay,” he told the Nation in an interview. On Wednesday, National Assembly Speaker Justin Muturi sanctioned investigation into digital money lending with a view to stop unregulated money lending. The data show that 40 per cent of the borrowers have multiple (up to 10) mobile loan Apps.

Source: Daily Nation March 14, 2020 05:15 UTC