One day, nobody would have imagined that Kenyans would be put under slavery after the attainment of independence decades ago.
But sadly, slavery went with the Whiteman and has returned in another form, this time disguised as quick loans and easy credit.
This has been the warning issued by blogger Cyprian Nyakundi, who called for urgent national action against shysters and predatory lending firms that he says have trapped thousands of Kenyans in endless cycles of debt.
Nyakundi has argued that what is happening across the country amounts to economic exploitation carried out in plain sight.
According to the blogger, borrowers have taken loans of Ksh500,000 only to end up repaying Ksh1.5 million or more after interest, penalties, rollovers, and hidden fees are applied.
“They trap Kenyans in debt cycles, destroy families, and call it quick cash,” Nyakundi wrote.
Additionally, Nyakundi has noted that many victims have been unable to seek justice due to their inability to afford legal representation.
Even more troubling, he has pointed to serious allegations linking some rogue lending firms to powerful political figures, a claim that has deepened public anger and suspicion.
He has questioned how such businesses continue to operate openly despite the widespread harm they cause.
The blogger has observed that loan shark advertising has flooded television, radio, YouTube, and social media platforms, with lending promotions dominating daily broadcasts.
He has compared the situation to gambling, insisting that predatory lenders must be regulated just as strictly to protect the public.
“We are told to go to court because justice exists, but courts should not be the first line of defence because they are the last,” Nyakundi added.
All the same, he has urged victims to come forward with testimonies detailing how much they borrowed, how much they repaid, and the conditions they were subjected to.
Nyakundi has also asked borrowers to expose harassment, threats, and attempts to seize property, describing these tactics as central to how debt becomes a trap.
That aside, have you had any encounters with any of the rogue credit firms you will never forget?
