- New leadership team to champion initiatives to promote economic recovery
Alternative Circle Chief Executive Officer Kevin Mutiso has been elected as the Chairperson of the Digital Lenders Association of Kenya (DLAK).
The members also re-elected Tala’s Regional General Manager Mr Ivan Mbowa as Vice. Both will serve for one year term.
Mr Mutiso has previously served as a member of the board since the establishment of the Association in 2019.
Speaking after his election, Mr Mutiso said DLAK will maintain its focus on constructive engagement with the government in developing responsible regulation and deepening financial inclusion. He also committed to support and promote ethical business practices in the industry as well as consumer sensitization programmes.
“We stand ready to work with government stakeholders to develop responsible regulation, reign in rogue players, promote fair industry standards, and enhance the competitive landscape in order to increase customer choice,” Mr Mutiso said.
“Our focus has always been to ensure every customer knows how much their loan will cost in advance and allowing them to make fully informed and value-conscious decisions. This is part of our ethos for positive impact and is entrenched in our code of conduct,” He added.
DLAK brings together the leading digital-first loan providers and associated stakeholders to facilitate mutual growth in the digital lending sector in Kenya.
The new leadership team will be crucial in driving the industry to provide leadership and engage other stakeholders in addressing a range of industry practices that have the potential to cause harm to Kenyan borrowers. These include concerns of opaque loan pricing disclosure, problematic debt collection practices, violations of data privacy expectations, loan stacking and related credit bureau challenges, and the lack of oversight of bad actors.
The full list of the Board Members
- Alternative Circle, Chief Executive Officer, Kevin Mutiso (Chairman)
- Tala, Regional General Manager, Ivan Mbowa (Vice-Chair Chairman)
- Kuwazo Capital, Chief Executive Officer, Allan Mukui (Secretary)
- Aspira, Chief Operating Officer, Irshad Muttur, (Treasurer),