Shylock economy: Broke and hungry, many Kenyans left to mercy of backstreet lenders

Many Kenyans are resorting to shylocks to meet quick financial needs, often ending up forfeiting assets. [Courtesy]

Harsh economic times, the high cost of living, and the denial of credit by banks to households and businesses have forced many Kenyans into backstreet borrowing that is now pushing them to the edge.

Many are resorting to shylocks to meet quick financial needs, often ending up forfeiting assets. Victims of these unregulated digital lenders tell of battling depression, with some cases ending in suicide.

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