Digital lenders in the country have unveiled their own lobby.
The Digital Lenders Association of Kenya (DLAK), they said, is aimed at promoting industry best practice and driving a coordinated approach in addressing the emerging issues in the industry.
The 12 founding members are Tala, Alternative Circle, Stawika Capital, Zenka Finance, MyCredit, Okolea, LPesa, Kopacent, Four Kings Investment T/A Sotiwa, Kuwazo Capital, Mobile Financial Solutions, and Finance Plan Ltd.
DLAK Chairperson and Zenka Finance Chief Executive Robert Masinde said they have a defined the code of conduct that members are required to adhere to.
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“A vibrant and diverse digital lending sector has successfully established itself in the country and we feel the time is right to give it a voice and promote global best standards,” said Mr Masinde.
He said their strategy will be determined by a strategic committee in which each company will be represented by its head.
Vice Chairperson Rose Muturi said the lobby aims to create the right environment for technology-backed lenders to become more sustainable.
