A cultural view of loan defaults in Kenya
Industry Information

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. […]

How borrower behaviors have shifted under the threat of GSI
Industry Information

How borrower behaviors have shifted under the threat of GSI

GSI is making borrowers think twice before taking out loans, pay closer attention to the fine print of loan agreements, and more.

The possible upsides of making GSI the go-to loan repayment method
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The possible upsides of making GSI the go-to loan repayment method

The Federal government initiated the Global Standing Instruction (GSI) to nip the issue of non-performing loans and unrepentant loan defaulters in the bud. Unfortunately, the implementation of this very powerful tool has been limited.