Kenyan regulators, led by the Central Bank of Kenya (CBK) and six other watchdogs, are implementing new rules to curb predatory lending practices by commercial banks, Saccos, and digital lenders.

• The draft Financial Consumer Protection Framework prohibits lenders from immediately dispatching auctioneers after a single missed loan installment, a practice that has led to severe financial ruin for many Kenyans.
• Financial services providers must now offer repayment relief, such as extending loan terms or deferring payments, before taking enforcement action.
• Graduated sanctions, including fines and licence revocation, will be imposed on repeat offenders, with a joint working group overseeing implementation.