Shylock economy: Broke and hungry, many Kenyans left to mercy of backstreet lenders

Many Kenyans are increasingly turning to unregulated backstreet lenders, known as shylocks, due to severe economic hardship, high cost of living, and restricted access to traditional bank credit. This reliance on predatory lending often results in borrowers forfeiting assets, experiencing severe depression, and in some tragic cases, suicide.

How broke, hungry Kenyans are suffering in hands of shylocks

Kenyans are increasingly turning to unregulated shylocks due to harsh economic conditions and difficulty securing credit from traditional banks, leading to severe financial distress and asset forfeiture. This desperate measure is causing widespread depression, with some cases tragically ending in suicide.

The Bold Standard : Shylock economy

Tough economy pushes 5.5M Kenyans into Shylock loans worth KSh13B monthly

Kenyan Banks Surpass MSME Lending Target, Unlocking KShs 19 Trillion Green Economy

Kenya's banking sector has exceeded its KShs 150 billion annual lending target to MSMEs, disbursing KShs 153 billion so far this year. This achievement coincides with the identification of KShs 19.4 trillion (US$ 100-150 billion) in potential nature-related investment opportunities in Kenya over the next decade.