Kevin Mutiso has been elected as the new Chairman by the members of the Digital Lenders Association of Kenya (DLAK) while Ivan Mbowa, Tala Regional General Manager was re-elected as Vice-Chairperson.
The new leadership will serve for one year and sets sights on more consumer education new leadership team to champion initiatives to promote economic recovery.
Speaking after his election, Kevin 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 programs.
“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 to increase customer choice,” Kevin Mutiso said.
The new chairman also emphasized the need for pricing transparency amongst the members as it puts customers in control and supports competition based on cost and value proposition.
“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.
Members of DLAK work together to set ethical and professional standards in the industry, to collaborate with policymakers and other stakeholders in addressing crosscutting issues, and to drive the overall growth of the Fintech sector in line with the Economic Pillar of the Vision 2030, MTP III, and the Big Four Agenda.
The Association is open to all ethical digital lenders subject to signing and demonstrating a commitment to the DLAK Code of Conduct, which covers granular requirements around the granting and repayment of digital loans, consumer protection, marketing and advertising, collaboration with stakeholders and regulators, and debt collection
By Christabel Airo
