Money-lending apps a dangerous trend, tame it
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.
MACHOKA MAGERO SIMION, Bungoma.