Digital Lenders, World Bank Talk Next Moves

DLAK workshop

Members of the Digital Lenders Association of Kenya (DLAK) are in talks with each other to address common challenges in a move to make services efficient.

In a recent workshop where World Bank representatives were present, the DLAK members present were from Alternative Circle. MyCredit, Micro-Credit, Kuwazo, Tala,Branch,Ubapesa and Zenka.

The micro lenders are in talks to bring sanity in the digital lending arena, present a better version of what digital lenders are and to collaborate with Credit Bureaus and the government.

Digital lenders are known to give loans to one single borrower at the same time bringing a new challenge in the market known as 'overlending' which is a clear reason as to why most borrowers end up in CRB blacklist.

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