Kenyans have appealed to the government to come to their rescue and crackdown on a rogue digital lender ‘Calf for You’ , accused of harrassing and blatantly breaching their customers confidentiality.
Digital lending firms were banned from contacting the family and friends of persons they lent money to in the event that they default on their payments or fail to pay them on time but shockingly ‘Calf For You’ is still thriving in such intimidation.
Reports indicate that ‘Calf For You’ defied the government and has perfected the art of debt-shaming , like calling friends and family, to compel their borrowers to repay the loans.
Digital lenders that share personal data of loan defaulters, with third parties, risk license withdrawal in Kenya after lawmakers added a clause — granting the banking regulator the mandate to revoke permits of operators who breach customer confidentiality.
Data Protection unit warned that such acts are illegal since the lending firms only agreed to disburse funds to loan applicants and not their family or friends.
“Why should they call people who have never asked them for money? They should deal with their clients and not people related to the clients,” said a senior officer in the data Protection Commissioner.
Investigations have revealed that ‘ Calf For You ‘ also extort their naive clients through high-interest rates, personal data abuses, and unethical debt collection practices.
Apparently the notorious ‘Calf For You ‘ is not in the updated list of digital lenders approved by the Central Bank of Kenya (CBK) to operate in Kenya.
CBK said in a statement that it had, together with other regulators such as the Office of the Data Protection Commissioner only 51 digital lenders are currently licensed to operate in Kenya.
Here is the full list of the accredited digital lenders so far:
1. Anjoy Credit
2. Asante FS East Africa
3. Autochek
. Azura Credit
5. Ceres Tech
6. Chapeo Capital
7. Chime Capital
8. Colkos Enterprises
9. Creditarea Capital
10. Decimal Capital
11. Dexintec Kenya
12. EDOMX
13. Extend Money Services
14. Factorhouse
15. Fezotech Kenya
16. Fortune Credit
17. Fourth Generation Capital
18. Getcash Capital
19. Giando Africa
20. Inventure Mobile
21. Jijenge Credit
22. Jumo Kenya
23. Kweli Smart Solutions
24. Letshego Kenya
25. Lipa Later
26. Little Pesa
27. Lobelitec Credit
28. Maralal Ledger
29. Marble Capital Solutions
30. MKM Capital
31. MFS Technologies
32. M-Kopa
33. Mwanzo Credit
34. Mycredit
35. MyWagepay
36. Natal Tech
37. Ngao Credit
38. Okolea International
39. Pezesha Africa
40. Pi Capital
41. Rewot Ciro
42. Risine Credit
43. Senti Capital
44. Sevi Innovation
45. Sokohela
46. Tenakata Enterprises
47. UbaPesa
48. Umoja Fanisi
49. Zanifu
50. Zenka
51. Zillions Credit..
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