Kenya moves to regulate fintech-fuelled lending craze

(This May 25 story corrects first name of Capital Markets Authority CEO to Paul, not Peter, paragraph 29) By Maggie Fick and Omar Mohammed
NAIROBI (Reuters) – Kenya built a reputation as a pioneer of financial inclusion through its early adoption of a mobile money system that enables people to transfer cash and make payments on cellphones without a bank account.
Now, a proliferation of lenders are using the same technology to extend credit to the banked and unbanked alike, saddling borrowers wit…

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