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Originally published by Capital Businessbusiness
September 24, 2025
2h ago
Petition seeks stricter law to curb predatory lending in Kenya

NAIROBI, Kenya, Sept 24 - A fresh petition before Parliament is seeking tighter regulation of loan interest charges, amid growing concern over predatory Kenya breaking news | Kenya news today |..
✨ Key Highlights
A new petition filed in the Kenyan Parliament seeks stricter regulation of loan interest charges to combat predatory lending practices by banks, digital lenders, and shylocks.
- The petition, filed by lawyer Allen Waiyaki Gichuhi, proposes amending the Consumer Protection Act, Cap. 501 to codify the in duplum rule.
- The in duplum rule caps interest on non-performing loans at an amount equal to the outstanding principal.
- The petition highlighted concerns that lenders charge interest, penalties, and fees exceeding the loan principal despite the in duplum rule being recognized under Section 44A of the Banking Act.
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