Tech

Google deletes hundreds of Kenyan loan apps from Play Store

Published

2 years ago

March 30, 2023

Hundreds of Kenyan-focused loan apps have been deleted from the Google Play Store in compliance with a digital lenders policy enacted by the Central Bank of Kenya (CBK),
which requires all apps to be duly licensed by the country’s apex bank.

The policy which came into force in November last year, had seen Google directing loan app publishers to ensure they fully comply with the CBK requirements before being allowed on Play Store, giving the affected apps a 30-days grace period before it would begin to take the action of removing them from its Play Store.

A statement on Wednesday from the tech giant noted that with the Digital Credit Providers (DCP) regulations coming into effect last year and the expiration of the stipulated grace period, it had no option other than to remove the defaulting apps.

The CBK had put the regulation in place after many users had flocked to the credit apps as they offered quick, unsecured personal or business loans; with little to no collateral requirements.

However, the loan apps have been accused of charging exorbitant interest rates, applying debt-shaming tactics to recover their money, and sharing customer data with third parties.

“The new rules were meant to put the industry under control, following several reports of misuse of data by digital lenders. CBK has been at the forefront of tightening its regulatory approach in the industry that was previously largely unregulated,” the statement said.

The CBK also noted that as at January, only 22 digital lenders had obtained the operational licence out of 381 that applied.

The successful financial apps, according to the bank, include
Tala, a PayPal-backed lending app, Pezesha, a B2B embedded lending platform andJumo, a fintech provider providing financial services including lending, which are some of the biggest players in the sector.

Related Topics:CBK Featured Google Kenya Loan Apps Play Store

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

1 day ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

2 days ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.