Money-lend­ing apps a dan­ger­ous trend, tame it

Daily Nation (Kenya) - - LETTERS TO THE EDITOR -

On­line bor­row­ing is a fast-grow­ing trend in Kenya. Many youths, even the job­less, have at least one such app on their phone with which they can quickly bor­row money. It goes with­out say­ing that these plat­forms charge ex­or­bi­tant in­ter­est rates and other fees and de­fault­ers risk be­ing black­listed by Credit Ref­er­ence Bu­reaus. They lure mem­bers to in­vite their friends for a re­ward. Let the guide­lines con­trol­ling bet­ting be ap­plied to tame the apps.


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