Great article, a similar situation exists in Kenya, there is no credit score system in existence. Three or two years back there was an explosion of lending apps giving out loans to every Dick, Tom and Harry. The apps would ask access to the contacts list of borrowers, so incase of defaults they would make calls to the borrowers immediate family members and close friends. It was a mess and most of them have since gone out of business.
We definitely need a good credit score system if successful lending and borrowing is to take place. This is slowly happening and the future looks promising.
Thank you for sharing and wishing you a great week ahead :}
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