Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
Digital loans in Kenya have become a symbol of financial distress, often a last resort for borrowers with nowhere else to turn. Few people actively choose to borrow from digital credit providers, and most do so when all other options have failed.
Valentine Amondi, a trader in Kenya’s lakeside town of Homa Bay, says a Ksh10,000 ($77) loan she took from a digital lender in February left her deeply frustrated.
