Toxic relationship between financiers, boda boda sector

These incidents of bike disappearance prompted Watu Credit and other entities with the same business model, like Mogo, JoyInc Group, My Boda, and 15 Minutes, to appear before a Parliamentary Committee to explain the design of their product offering, described as Buy Now Pay Later (BNPL).

BNPL is largely an unregulated financial product as institutions that offer this service are not necessarily banks, Saccos, microfinance, or digital lenders. This...