The New Year approaches and Expalux would like to present a gift to everyone, who is interested in international Fintech publishing our 3rd Quarterly Research! We hope everyone will be enjoying reading about Brazil, Peru, Chile, Argentina, Colombia, El Salvador, Mexico, Tanzania, Ethiopia, South Africa, Ghana, Kenya, Nigeria. EXPALUX 3th QUARTERLY RESEARCH
The financing gap left by conventional banking institutions in Kenya has presented an opportunity for innovation, leading to the birth of fintechs like Asilimia. The Kenyan startup has over the last three years been offering a lifeline to traders in Kenya by enabling them to make mobile money transactions that are devoid of transfer charges …
Kenya-based fintech startup Asante has announced a US$7.5 million Series A investment to help its credit offerings to a host of African countries. Asante has developed a digital lending platform that uses alternative data and a proprietary AI loan decisioning management system to approve loans to micro, small and medium sized enterprises (MSMEs) in Sub-Saharan Africa. …
Rogue digital lenders who share personal data of loan defaulters will be stripped of their operating licenses if Parliament passes proposed changes to the law to curb abuse of confidential records. The National Assembly committee on Finance and National Planning has added a clause to the Central Bank Amendment Bill 2021, granting the banking …
Kenya’s Fintech ecosystem is growing every year, mainly focusing on payment and lending categories (Findexable, 2019). As far as digital lending platforms are concerned, these services are closing the gap for Kenyans who do not have a formal bank account or whose income is not stable enough to borrow from formal financial institutions. Fintech Lending …
The Central Bank of Kenya (CBK) locked out 624 digital lenders and credit-only providers from sharing information on loan payments and defaults last year in the wake of customer complaints. Fresh data shows that Kenya had 1,994 third-party data providers allowed to share borrowers’ loan defaults and payments with Credit Reference Bureaus (CRBs), a 23.8 …
Digital mobile lenders will have six months to be licensed by the Central Bank of Kenya (CBK) if Parliament adopts a proposed law that will see the regulator control their products, management, and sharing of borrowers’ information. This seeks to empower the banking regulator to supervise digital lenders for the first time in order to …
The large number of digital loan platforms in Kenya has caused a stir in the authorities, for which a new project has been created to license and regulate digital lending platforms in the country. The new bill seeks to have the CBK, the country’s monetary authority, license and regulate digital lenders. Currently, the authority licenses, regulates …
In recent years, the African continent has experienced the economic growth of some of the countries in the region, which has helped millions of people have a better quality of life. Among these, the case of Kenya stands out, a country that only in 2019 had an economic growth of 5.7% on average. Likewise, despite …