2020-02-13
Uber to work in Nairobi yesterday: debt collector called the driver. Massive fuckery in Kenya's financial market. You borrow $30 at 3% per day. Companies are making multiple times what banks do. No regulation. https://twitter.com/...
Bloomberg
A look at how Tala and other microfinance tech startups have exploded in Kenya, offering sky-high interest rates that have left some borrowers with nothing
1 in 10 adults—have defaulted on a digital loan. Others are trapped in a debt cycle, borrowing from one app to pay off another https://www.bloomberg.com/... Lydia DePillis / @lydia...