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.
