HOW MOBILE MONEY LENDING IS DESTROYING ZAMBIANS’ BORROWING CHANCES
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Mobile lending services such as Airtel Kwacha, MTN Kaloba, and ZedMobile are impacting the financial futures of many Zambians. Small debts, such as those for airtime or food, are reported to the Credit Reference Bureau if payments are delayed. Even a delay on a small sum like 50 Kwacha can lead to a report. This practice is limiting the ability of borrowers to access other loans.
HOW MOBILE MONEY LENDING IS DESTROYING ZAMBIANS’ BORROWING CHANCES Mobile lending services like Airtel Kwacha, MTN Kaloba, ZedMobile and other apps have destroyed the financial future of many Zambians. How? Because every K50 delayed to be paid is immediately reported to the Credit Reference Bureau (CRB). A Zambian borrows K100 for talk time or mealie-meal, […] The post HOW MOBILE MONEY LENDING IS DESTROYING ZAMBIANS’ BORROWING CHANCES first appeared on The Zambian Observer .
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