High-Interest Loans: A Dangerous Trap for Kenyans

High-Interest Loans Trap Kenyans in Debt: A Growing Concern Nairobi, Kenya – The issue of high-interest loans is causing increasing financial hardship for many Kenyans. A recent short film by Kikuyu Nation TV highlights the struggles faced by borrowers caught in a cycle of debt. The film depicts three individuals discussing their experiences, illustrating the devastating consequences of failing to manage loan repayments. "It's a dangerous trap," says one participant in the film, speaking in Kikuyu. "The interest rates are so high, it’s almost impossible to catch up." The video shows the emotional toll of overwhelming debt, underscoring the need for financial education and responsible lending practices. Experts warn that the high-interest loan market in Kenya needs stricter regulation to protect vulnerable borrowers. The film serves as a stark reminder of the importance of financial literacy and careful consideration before taking out loans. Initiatives aimed at educating Kenyans about responsible borrowing are crucial to prevent further financial distress.