Treasury CS John Mbadi speaks while appearing before the Senate on Wednesday 25th February,2026-Photo|Courtesy
Treasury raises penalties to rein in predatory digital and microfinance lenders
The Treasury has unveiled tougher measures against digital and microfinance lenders accused of exploiting Kenyans with excessive interest rates and aggressive debt collection practices. While appearing before senators, Treasury Cabinet Secretary John Mbadi said that fines for violating the Banking Act have been increased from KSh500,000 to KSh2 million. He said the move is intended…
