Many Kenyans are resorting to shylocks to meet quick financial needs, often ending up forfeiting assets. [Courtesy] Harsh economic times, the high cost of living, and the denial of credit by banks to households and businesses have forced many Kenyans into backstreet borrowing that is now pushing them to the edge. Many are resorting to shylocks to meet quick financial needs, often ending up forfeiting assets. Victims of these unregulated digital lenders tell of battling depression, with some cases ending in suicide. Uncover the stories others won’t tell. Subscribe now for exclusive access Unlock the Truth Now 》 Unlimited access…
Author: By Brian Ngugi and Macharia Kamau
Many Kenyans are resorting to shylocks to meet quick financial needs, often ending up forfeiting assets. [Courtesy] Harsh economic times, the high cost of living, and the denial of credit by banks to households and businesses have forced many Kenyans into backstreet borrowing that is now pushing them to the edge. Many are resorting to shylocks to meet quick financial needs, often ending up forfeiting assets. Victims of these unregulated digital lenders tell of battling depression, with some cases ending in suicide. /* Container styling */ .fade-out-overlay { position: absolute; top: -80px; left: 0; width: 100%; height: 60px; z-index: 1;…
Many Kenyans are resorting to shylocks to meet quick financial needs, often ending up forfeiting assets. [Courtesy] Harsh economic times, the high cost of living, and the denial of credit by banks to households and businesses have forced many Kenyans into backstreet borrowing that is now pushing them to the edge. Many are resorting to shylocks to meet quick financial needs, often ending up forfeiting assets. Victims of these unregulated digital lenders tell of battling depression, with some cases ending in suicide. /* Container styling */ .fade-out-overlay { position: absolute; top: -80px; left: 0; width: 100%; height: 60px; z-index: 1;…
President William Ruto during the signing of seven parliamentary Bills that will accelerate the achievement of our Bottom-Up Economic Transformation Agenda. [PHOTO HIRAM OMONDI/ PCS, 11/12/2024] President William Ruto yesterday signed the Finance Bill 2025 into law, introducing changes in tax administration aimed at increasing his embattled government’s revenue as the country grapples with mounting public debt and economic pressures. The new measures, many of them set to take effect on July 1, have minimal implications in terms of hiking taxes as the government tried to avoid pushback from Kenyans witnessed in 2024 when it proposed punitive tax measures but…