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. […]
Why Lendsqr is helping lenders in the Caribbean
With a proven track record of powering over 4,000 lenders across Africa, Lendsqr has honed its expertise in regions where access to credit is notoriously difficult. This wealth of experience enables us to bring innovative, practical solutions to the Caribbean, addressing the unique hurdles lenders and borrowers face.
Offline lending vs online lending: pros and cons
Not to declare one better than the other, but offline and online lending have their benefits and drawbacks.