borrowers - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

MP Buyu proposes microfinance bill to cap interest rates

Sacco ReviewAugust 14, 202605 mins

Rozaah Buyu proposes a bill to protect borrowers from predatory microfinance lending. The bill seeks to cap interest rates and curb unfair debt recovery practices. Non-compliant lenders could face penalties or licence revocation. Kisumu West MP Rozaah Buyu has written to the Speaker of the National Assembly proposing a bill that would tighten protections for…

Understanding the Equity of Redemption Principle as a critical protection for borrowers

Sacco ReviewMarch 18, 202609 mins

In the world of loans and mortgages, borrowers often place valuable assets such as land, houses, or vehicles as security when seeking credit. While this arrangement helps individuals access much-needed funds, it also exposes them to the risk of losing their property if they fail to repay the loan. To prevent lenders from unfairly taking…