A man has appealed to Kenyans for help after taking up a loan from a local lender which he received just a portion and now he has been slapped with a Ksh150,000 demand.
In an appeal sent to Narok Senator Ledama Olekina, the man complained that he took a loan of Ksh20,000 but only received Ksh14,720.
"On asking why I was only given Ksh14,720, was told that the law changed last night and the new taxes were introduced leading to those charges," he explained.
He was however informed that his balance was Ksh158,000, sending him into a panic. The victim has asked the lawmaker to intervene in his case.
The victim also complained that his principal amount was not being shown, but the statement was increasing instead of reducing despite repaying the loan for a year.
"Kindly, I need your help as a Kenyan who is being exploited. My efforts to reach the Central Bank of Kenya (CBK) have bore no fruits as my emails go unanswered," he lamented.
On his part, Ledama urged Attorney General Justin Muturi to take action and protect Kenyans from such exploitation.
"I will do my part and summon them to appear before the senate in November," he added.
He urged other lawmakers to put in the effort to pass laws that protect Kenyans from being exploited by malicious loan lenders.
A section of Kenyans voiced their disappointment with the government for failing to crack the whip on such lenders.
"The high cost of living and cost of living is forcing people unwillingly to borrow from these exploitive loan companies," another commented.
Others asked the Central Bank of Kenya to regulate all lenders in the country and save Kenyans from such exploitation.
