CBK boss now links mobile lenders to money laundering

Central Bank of Kenya Governor Patrick Njoroge when he appeared before the Senate ICT Committee. [Boniface Okendo/Standard]

Central Bank of Kenya (CBK) Governor Patrick Njoroge has heightened the onslaught on digital lenders, saying they might be conduits for cleaning dirty money.

At a press briefing in his office yesterday, Njoroge compared the ubiquitous mobile lending platforms to “your typical money laundering schemes”, which he said pose a serious threat to the country’s financial health.