in ,

Tala, Zenka, Kuwazo and Other Digital Lenders Launch an Association to “Serve Interest”

Digital Lenders Association Directors signing the Code of Conduct (L-R) Ivan Mbowa East Africa Regional Country Growth Manager Tala), Allan Mukui (DLAK Secretary and CEO Kuwazo), Robert Masinde (DLAK Chairperson and CEO Zenka), Rose Muturi (DLAK Vice Chairperson and Chief Digital Officer HF Group), Kevin Mutiso (DLAK Director and CEO Alternative Circle). The Code will guide the conduct of the industry through a set of shared principles.

12 leading digital lenders in Kenya have today announced the launch of umbrella welfare entity, Digital Lenders Association of Kenya (DLAK).

According to the lenders, the welfare body is to promote industry best practice and drive a coordinated approach in addressing the emerging industry’s pressing issues.

It might not be to the advantage of consumers as many struggles with unclear or ever-changing loan terms offered by the lenders. Most of the digital lenders have terms which they are ambushed with after committing.

Incorporated in 2019, DLAK brings together leading digital-first lenders and other key stakeholders including;

  • Tala, Alternative Circle, Stawika Capital, Zenka Finance, MyCredit, Okolea, LPesa, Kopacent, Four Kings Investment T/A Sotiwa, Mobile Financial Solutions (MFS), Kuwazo Capital, and Finance Plan Ltd.

DLAK claims to represent and promote the interests of digital lenders, consumers, and the digital lending industry, something which is unclear as the digital lenders have just been known to exploit their clients.

DLAK might be the largest grouping of an exploitative cabal of service providers, out to squeeze lie off the already stressed digital loan consumers (borrowers).

Digital Lenders Association Directors (L-R) Ivan Mbowa East Africa Regional Country Growth Manager Tala), Allan Mukui (DLAK Secretary and CEO Kuwazo), Robert Masinde (DLAK Chairperson and CEO Zenka), Rose Muturi (DLAK Vice Chairperson and Chief Digital Officer HF Group), Kevin Mutiso (DLAK Director and CEO Alternative Circle) during the launch of Digital Lenders Association.

In an announcement, the following are the founding officials;

Chairman of the newly launched DLAK is Zenka Finance CEO Mr. Robert Masinde while its strategy, as well as the issues to be addressed, will be determined by a Strategic Committee in which each member company will be represented by its institutional head (CEO, Managing Director, Country Manager, etc) or another member of their Executive Board.

Currently, the Strategic Committee consists of Robert Masinde (CEO Zenka), Rose Muturi (Vice Chairperson and Chief Digital Officer HF Group), Kevin Mutiso (CEO Alternative Circle), Allan Mukui (CEO Kuwazo) and Ivan Mbowa (Regional Country Growth Manager Tala).

We will wait and see if DLAK will bring positivity to the already soiled and exploitative industry.

Email your news TIPS to news@kahawatungu.com or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu

Written by Kahawa Tungu

Email: news@kahawatungu.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

zari

Money In The Bank, Good Sex Making Me Fat – Zari Hassan Confesses

Rafiki

Judge Allows Banned Film ‘Rafiki’ To Be Aired In Court