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HomeDaily NewsFriday, August 21, 2026MPs to Probe Mogo Auto Over Alleged Unfair Lending Practices - August 2026
Business & Economy3 stories from 2 sources

MPs to Probe Mogo Auto Over Alleged Unfair Lending Practices - August 2026

Kenya's National Assembly will investigate allegations of unfair lending and asset financing practices by Mogo Auto Limited following a petition from the Kenya Bodaboda Riders and Owners Association. The National Treasury has separately urged Parliament to reject a petition calling for the merger of two public servants' pension schemes, citing fundamental differences between them. Additionally, the Kenyan government is considering winding up Metropolitan Sacco following a recent inquiry that revealed little improvement in the institution's financial health over the past three years.

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Friday 12:42 PMCapital Business

MPs to probe Mogo Auto over alleged unfair lending practices

MPs to probe Mogo Auto over alleged unfair lending practices

Kenya's National Assembly will investigate allegations of unfair lending and asset financing practices by Mogo Auto Limited following a petition from the Kenya Bodaboda Riders and Owners Association.

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Key Highlights

Kenya's National Assembly will investigate allegations of unfair lending and asset financing practices by Mogo Auto Limited following a petition from the Kenya Bodaboda Riders and Owners Association.

  • The petition raises concerns over high interest rates, loan charges, asset repossession, and inadequate disclosure of loan terms.
  • Key individuals and organizations involved include the Kenya Bodaboda Riders and Owners Association, led by National Executive Chairperson Charles Gichira, and Mogo Auto Limited.
  • Concerns also extend to data protection practices, the handling of financed motorcycles, insurance claims, and the treatment of borrowers after default.
Thursday 8:34 PMNation BusinessFirst

Metropolitan Sacco at risk of winding up on fresh inquiry

Metropolitan Sacco at risk of winding up on fresh inquiry

The Kenyan government is considering winding up Metropolitan Sacco following a recent inquiry that revealed little improvement in the institution’s financial health over the past three years.

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Key Highlights

The Kenyan government is considering winding up Metropolitan Sacco following a recent inquiry that revealed little improvement in the institution’s financial health over the past three years.

  • The Sacco closed in 2024 with Sh7.41 billion in deposits and a Sh17.2 billion loan book, of which 98.99 per cent was in default.
  • Key individuals involved include Commissioner for Co-operatives David Obonyo.
  • The Sacco is facing pressure from members seeking to withdraw their savings, with the Co-operative Tribunal ordering refunds, exacerbating liquidity issues.
Friday 8:53 AMNation Business

Treasury rejects call for merger of two public servants' pension schemes

Treasury rejects call for merger of two public servants' pension schemes

The National Treasury has urged Parliament to reject a petition calling for the merger of two public servants' pension schemes, citing fundamental differences between them.

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Key Highlights

The National Treasury has urged Parliament to reject a petition calling for the merger of two public servants' pension schemes, citing fundamental differences between them.

  • The National Treasury Principal Secretary Chris Kiptoo stated that the Non-Contributory Defined Benefit (DB) pension scheme and the Public Service Superannuation Scheme (PSSS) differ significantly in legal character, benefit design, financing, and actuarial treatment.
  • The petition was filed by members of the Kenya National Association of Public Service Pensioners on behalf of retired public servants.
  • As of July 31, 2026, the DB scheme had 319,207 pensioners with a monthly payroll of approximately Sh.7.8 billion, while the PSSS had about 529,635 active members with accumulated assets of approximately Sh343.75 billion as of June 30, 2026.
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