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Senators call for regulations on mobile lending apps
The Central Bank of Kenya and the Communications Authority will be required to formulate and publish regulations on mobile money transaction fees for operators, if Senate passes a motion that seeks to regulate mobile lending platforms.

If the motion by Nominated Senator Alice Milgo, seeking to regulate the digital money platforms is adopted by the house, mobile lending apps will be regulated by CBK and CA.
“My appeal is that this house, urges the government to regulate this mobile lending platforms and provide an oversight authority to regulate them,” Senator Milgo saidy esterday as she persuaded colleagues to back the motion.
“The oversight authority will vet and scrutinise the lucrative interest rates and review the penalties applied by digital lenders,” she explained.
She said the government should also put in place mechanisms check operations of the non-traditional banking platforms.
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