After years of rapid expansion driven by mobile money, Africa's digital credit market is entering a regulatory phase. Governments across the continent are formalising loan apps through licensing and conduct standards to curb abuses without stalling access to credit.
Regulators are reasserting control over Africa's rapidly expanding digital credit market, which has grown on the back of mobile money, thin oversight, and unmet demand for bank lending.
What was once dominated by loosely regulated loan apps is now being drawn into formal licensing regimes, as authorities seek to preserve financial inclusion while curbing consumer harm.
