Mobile Loan Applications Are Driving Desperate Kenyans into Despair
The Dark Side of Mobile Lending in Kenya: A Borrower's Nightmare
NAIROBI, Kenya – In a desperate bid to save her four-year-old son, who had ingested a five-shilling coin, Grace hastily installed a mobile lending application recommended by her fellow market vendors. Without pausing to review the terms, she entered her information and hit ‘submit.’ At a bustling health center nestled in the cramped alleys of Baba Dogo in Nairobi’s Mathare slums, doctors demanded 1,500 shillings upfront to initiate the urgent treatment her…