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Nigeria's largest telecom operator is bringing back its popular Xtratime service after regulators suspended strict new lending rules. Millions of customers will soon be able to borrow airtime and data again when they run out of credit.
Kenya just made a bold move to protect borrowers from spiraling debt by banning automatic credit limit increases. Digital lenders will now have to check if people can actually afford more money before offering it.
Kenya is introducing new rules that require all lenders to prove borrowers can afford loans before approval, tackling dangerous default rates in one of Africa's biggest digital lending markets. The change protects millions of mobile loan users from falling into debt traps.
Nigeria's consumer protection agency is taking action against predatory loan apps that harassed borrowers and violated privacy. The crackdown aims to clean up a fast-growing industry plagued by abuse.