A cultural view of loan defaults in Kenya
Executive summary From 2019 to 2024, Kenya experienced a steady rise in personal and consumer loan defaults, driven not just by economic challenges, but deeply rooted cultural behaviors, social expectations, and shifting attitudes towards debt. While formal banks, microfinance institutions, and mobile lenders expanded access to credit, repayment struggles mirrored longstanding cultural and communal dynamics. […]
5 types of lending model
A lending model is a lenderās map. Letās take a look at some of the lending models available to lenders.
Ethical ways to recover loans
Recovering loans ethically is one of the toughest challenges Nigerian lenders face. Contrary to common assumptions, the biggest obstacle isnāt funding, technology, or regulation, itās the alarming reality that many Nigerians simply donāt pay back their loans. While financial hardship plays a part, a significant number of borrowers are willfully reluctant to repay. This article explores ethical, effective strategies lenders can use to recover loans without resorting to harassment or illegal practices.
