Consumer protection - 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…

CBK urges Kenyans to report unauthorised mobile loan apps in latest crackdown

Sacco ReviewJuly 15, 202604 mins

CBK urges Kenyans to report illegal mobile loan apps. 25 new lenders licensed, raising the total to 252. Licensed lenders issued Ksh 150.56 billion in loans by May 2026. The Central Bank of Kenya (CBK) has urged Kenyans to report illegal mobile lending applications, as part of an intensified crackdown on unlicensed digital lenders accused…

Microfinance Bill seeks tougher oversight and consumer rights in Kenya’s lending sector

Sacco ReviewJune 1, 202604 mins

The microfinance industry is poised for its most sweeping regulatory overhaul in two decades, with a new Microfinance Bill before the National Assembly proposing tighter oversight, stronger consumer protections and expanded powers for the Central Bank of Kenya (CBK). Legislators say the reforms are necessary to modernise rules governing microfinance banks, which serve millions of…