Forget Digital Lenders, Kenya’s New Bill Seeks To ‘Babysit’ All Fintech Startups

Much has been made of the fate of digital lending startups in Kenya, especially since it became public knowledge that a new bill in parliament seeks to give express powers to the Central bank of Kenya (CBK) to rein in payday lenders.

However, while all the talk has circled lending fintechs -- and perhaps rightfully so -- the fine print in the proposed amendment does suggest that the broader plan is to keep the broader fintech ecosystem completely under the thumb of the CBK.