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Kenya will start regulating lending apps

Photo by: Engadget

Lending apps have shaken up Kenya’s financial landscape , but they’ve largely gone unregulated — until now. TechCrunch reports President Kenyatta has signed an amended law that gives the country’s Central Bank the power to license and regulate digital lenders. Companies have six months to apply for a license. Lenders will also have to honor existing consumer and data protection laws. Firms will...

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