Namaste,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- Complaints against Kenya’s digital lenders soar
- CBN wants to track every retail dollar
- Prosus sells final Delivery Hero stake
Complaints against Kenya’s digital lenders soar
Complaints against Kenya’s digital lenders have exploded, showing that the country’s fast-growing loan app industry is still struggling to win consumers’ trust. Per the Competition Authority of Kenya (CAK), complaints about digital lenders increased fivefold in the year ended June 2025, making the sector one of the biggest sources of consumer grievances. The regulator said most of the complaints centred on false and misleading representations and unconscionable conduct, raising fresh concerns about how some lenders treat borrowers.
The surge in complaints matters because digital lending has become a lifeline for millions of Kenyans who need quick access to credit. With just a smartphone, borrowers can apply for loans within minutes, but that convenience has also exposed many consumers to hidden charges, misleading loan terms and aggressive collection practices. The CAK noted that complaints weren’t limited to standalone loan apps either. Banks, microfinance institutions and savings and credit cooperatives (Saccos) also faced complaints over issues such as failing to disclose fees and unilaterally changing terms and conditions.
The latest figures show that Kenya’s efforts to clean up the sector are far from over. In 2022, the government amended the law to give the Central Bank of Kenya (CBK) powers to regulate digital lenders after years of public outcry over predatory lending, excessive interest rates and misuse of borrowers’ personal data. Since then, the CBK has introduced a licensing regime that has seen hundreds of digital lenders apply for approval, while many unlicensed operators have either shut down or been pushed out of the market. Despite those reforms, consumer complaints continue to rise, suggesting regulation alone hasn’t solved the industry’s deeper problems.
The increase in complaints also comes as Kenya’s digital credit market continues to expand rapidly. More people are relying on loan apps to cover emergencies, school fees and day-to-day expenses, particularly as the cost of living remains high. That growth has made digital lenders an important part of Kenya’s financial inclusion story, but it has also intensified scrutiny from regulators determined to balance innovation with stronger consumer protection. Recent court rulings holding banks and telecom companies accountable for SIM swap fraud further signal that Kenyan authorities are taking a tougher stance on consumer rights across the financial sector.
For Africa’s fintech ecosystem, the message is becoming increasingly clear: rapid growth isn’t enough. As digital financial services become more embedded in everyday life, regulators are demanding higher standards of transparency, fair treatment and accountability. Kenya, often seen as one of Africa’s fintech leaders, is showing that protecting consumers is becoming just as important as expanding access to credit.
CBN wants to track every retail dollar
The Central Bank of Nigeria (CBN) wants to know exactly where every retail dollar entering the country ends up. In a new directive, the apex bank has ordered banks and authorised dealers to provide more detailed reporting on retail foreign exchange (FX) transactions, requiring them to capture information about who receives the dollars, what they’re being used for and where the funds eventually go. The move is part of the CBN’s broader effort to improve transparency in Nigeria’s FX market and close loopholes that allow foreign currency to be diverted or misused.
Victoria Fakiya – Senior Writer
Techpoint Digest
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For businesses and individuals, the directive doesn’t stop access to dollars, but it does mean greater scrutiny. Banks will now be expected to collect and report more information on retail FX transactions, giving the CBN a clearer picture of how foreign currency flows through the economy. The regulator believes better visibility will help curb round-tripping, improve compliance with FX rules and make it easier to detect suspicious transactions. It also comes as Nigeria continues efforts to rebuild confidence in its foreign exchange market after years of volatility and multiple exchange-rate reforms.
The latest rule builds on a series of reforms introduced over the past year. Since 2023, the CBN has dismantled multiple exchange-rate windows, tightened oversight of Bureau De Change operators and introduced measures aimed at making the FX market more transparent. In March 2026, it also introduced new anti-money laundering requirements for banks, including AI-powered transaction monitoring, while its Payments System Vision 2028 outlined plans to modernise Nigeria’s financial infrastructure and strengthen fraud detection. The new FX reporting requirement fits neatly into that wider strategy of giving regulators more visibility into how money moves across the financial system.
The timing is significant because demand for dollars remains high. Nigerian businesses rely on foreign exchange to import goods, pay international suppliers, settle school fees abroad and cover medical expenses overseas. By collecting more detailed transaction data, the CBN hopes to better understand demand patterns, shape future policy and ensure scarce FX reaches legitimate users rather than speculators. The regulator has repeatedly said that restoring confidence in the FX market depends not only on increasing supply but also on improving oversight.
The directive also reflects a broader shift in financial regulation. Around the world, central banks are using richer transaction data to combat financial crime, improve policymaking and monitor market activity in real time. For Nigeria, where foreign exchange remains one of the economy’s most sensitive issues, the CBN is betting that better data will lead to better decisions, and ultimately a more stable and transparent FX market.
Prosus sells final Delivery Hero stake
Prosus is cashing out of one of Europe’s biggest food delivery companies just as Uber circles the business. The Dutch technology investor has sold its remaining 4% stake in Delivery Hero for about €602 million ($703 million), ending an investment that began more than five years ago. The sale comes as reports suggest Uber is exploring a potential acquisition of the Berlin-based food delivery giant, a deal that could reshape the global online delivery market if it materialises.
The timing of Prosus’ exit has raised eyebrows. Delivery Hero’s shares have climbed on speculation that Uber is weighing a takeover, making it an opportune moment for Prosus to sell its remaining stake. For investors, the move suggests Prosus is locking in gains while avoiding the uncertainty that often surrounds large merger talks. For Uber, meanwhile, acquiring Delivery Hero could significantly expand its presence in Europe, Asia and the Middle East, where the company operates through several brands and delivery platforms.
The relationship between Prosus and Delivery Hero goes back several years. Prosus first invested in the company in 2019, gradually reducing its holding over time as it rebalanced its portfolio. The company has increasingly focused on investments where it can play a more strategic role, particularly after completing its acquisition of Just Eat Takeaway.com earlier this year. That deal strengthened Prosus’ position in the food delivery industry, making its continued investment in Delivery Hero less critical.
Uber’s interest in Delivery Hero also reflects a broader trend in the food delivery sector. After years of rapid expansion fuelled by the pandemic, delivery companies are now under pressure to improve profitability, reduce costs and gain scale. Rather than competing market by market, many companies are turning to mergers, acquisitions and strategic partnerships to strengthen their position in an increasingly competitive industry. Whether Uber ultimately makes a formal offer remains uncertain, but the speculation alone has reignited interest in one of the sector’s biggest players.
For Africa, the development is worth watching because Prosus is one of the continent’s most influential technology investors through its parent company, Naspers, while Uber remains a major ride-hailing and delivery player across several African markets. Any major reshaping of the global delivery industry could influence future investment decisions, competition strategies and expansion plans that eventually reach African consumers and businesses.
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Have a fun weekend!
Victoria Fakiya for Techpoint Africa
