On 14th May 2022, the government passed the Digital Creditors Act whereby, anyone dispersing loans via mobile applications have to register with CBK and comply with their regulations on data privacy, debt collection and distribution of funds.

On 11th March 2022, in Nigeria, the FCCPC raided the locations of these illegally run applications and shut down their operations, due to the fact that many lives have been lost to suicide due to these apps.

These apps go to the extent of phishing contacts via people's phones and sending mass texts claiming the client used those contacts as referees. Moreover, these apps go on ahead to insult, bully, ridicule and beatdown clients who are unable to pay the loans on time. These apps are known to constantly call the client, referees and contacts, and insult people and threaten them. Kenyan lives have been lost due to these acts of debt shame.

 

This petition is to get everyone's attention on such an issue. It is to allow people to get peace as everyone is financially struggling, and may not keep up with the exorbitant interest rates that these apps have. (Up to 20% per week). Agents go to the extent of saying that their companies are above the law. 

Letters petitioning the government are already in their possession physically and through email.

Sign and share this petition to show those suffering in silence that it isn't right to be embarrassed and harassed someone because of their financial situation. Either these apps follow the law, or they GET. SHUT. DOWN! (Apps removed from app stores and no longer functioning)

You can also report these apps to

info@odpc.go.ke , comms@centralbank.go.ke

These apps include and are not limited to:

Kashway

Kashplus

LionCash

Lcash

Fairkash

MetaLoan

SkyPesa

Apesa

Asapkash

MyKes

Ipesa

CreditKes

Creditmoja

KashBean

Zashloan

Kesloan

CashNow

CashSea

Lemon Cash