Sunday, July 12, 2020

Kenyans turning to mobile loans in times of COVID-19

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Kanika Bajaj

Article Title

Kenyans turning to mobile loans in times of COVID-19

Publisher

Global Views 360

Publication Date

July 12, 2020

URL

People of Kenya

People of Kenya | Source: Flightlog via Wikimedia

The economic impact of COVID-19 is felt on the personal finance of people across the world who are looking for ways to tide over the situation. In Kenya, people are lapping the short-term credit in the form of digital loans by mobile money operators. The number of people taking digital loans has doubled during the COVId-19 induced lockdown period.

Boston Consulting Group's Consumer Sentiments Survey conducted in April and May 2020 reported that "In May, 29 percent responded that they had taken out a short-term loan, compared to 16 percent in April. Mobile money operators were the most common sources of this credit”

Kenya is a pioneer in using mobile money transfer services as the key tool for providing financial inclusion to its citizens. A simple money transfer service, M-PESA launched in 2007 has transformed the financial service industry in Kenya. Today mobile money operators are providing multiple services like digital loans, marketplace for small businesses and farmers.

Digital loans are easy to process and disbursed but there are concerns of shaming the defaulters and compromising the data security of clients. The Digital Lenders Association of Kenya (DLAK) which is a body representing the digital lenders of Kenya has distanced from two of their members, Okash and Opesa over unethical practices. These mobile apps have shared the details of defaulting customers with the moneylenders and asking them to recover the money.

DLAK also stated that Opesa and Okash are known for attacking a client's data privacy which is against the Kenyan data protection laws and has additionally spoiled the reputation of digital leaders in Kenya.

In April 2020, Central Bank of Kenya barred unregulated digital mobile lenders from forwarding the names of loan defaulters to credit reference bureaus. A huge number of Kenyans have been recorded on Credit Reference Bureaus by digital money lenders for loans as little as $5.

Central Bank of Kenya governor Patrick Njoroge told during a press conference in May 2020 that the central bank in consultation with the mobile money operators and digital lenders is presently working to develop a model where the borrowers are protected from mistreatment of online moneylenders.

The borrowers are looking up to the regulatory authorities and the industry bodies to come up with a mechanism which will protect their interest in times of such a health and economic emergency.

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February 4, 2021 5:00 PM

Stonewall Riots: A Pillar In The Movement For American LGBTQIA+ Rights

The Stonewall Riots are globally remembered as the cornerstone of Pride Month, and rightfully so. Fifty-one years ago, a routine police raid on Stonewall Inn, a gay bar in New York turned into an upheaval against homophobic society, laws, and policing.

In the early hours of June 28, 1969, a police raid— often conducted on secret or private bars that exclusively served LGBTQIA+ patrons— turned its head on the New York Police Department.

The Stonewall riot in 1969 | Source: David via Flickr

Some accounts say that the pivotal moment came when few of the lesbians who were brutally shoved into a police wagon showed resistance. In response, the crowd lit up in anger and resistance. Instead of running away to save themselves, the patrons fought back, even leading to the police barricading themselves within the bar itself as they waited for backup.

The Stonewall riot in 1969 | Source: David via Flickr

News of the clash spread and more people gathered, throwing anything they could find: nickels, garbage cans, broken bottles, and yes, bricks too, though ‘the first brick’ may have been more myth than real. Eventually, it took the fire department and a riot squad to quell the riots on the first night.

Defiant, Stonewall reopened the next evening, and the confrontation between police and community members continued for the rest of the week, drawing hundreds and upto thousands of community members. A total of twenty one protestors were arrested over the week, with the majority being arrested on the first night itself.

It’s hard to pinpoint what exactly led to the Stonewall riots, or the status that it earned in present-day Pride and LGTBQ+ liberation movements. The movement for LGTBQ+ rights existed before Stonewall (if relatively subdued relative to what came after), and so did the concept of ‘Pride,’ in the form of ‘Personal Rights in Defense and Education’ (PRIDE) that went on to become the Advocate magazine.

Stonewall wasn’t even the first time the community clashed with the police. It has been postulated that the act of naming, “the first to be called the first,” and the decision of organizers to commemorate its anniversary in the form of ‘Christopher Street Liberation Day’ contributed largely to Stonewall becoming a permanent and popular fixture in LGBTQIA+ history and collective memory.  

Regardless of the contributing factors, the cultural impact of Stonewall on American and Western LGBTQIA+ communities was immediate and intense. It became the epicentre of a louder, more radical movement. The community had tried it the ‘respectable’ way through organisations such as Mattachine, but it didn’t get them anywhere.

The number of LGTBQ+ focused organisations and magazines soared after Stonewall, going from around two dozen to four hundred. These included radical organisations such as the Gay Liberation Front and Radicalesbians.

The year after Stonewall, Sylvia Rivera and Marsha P. Johnson, who were present at the riots and are considered transgender icons, created the Street Transvestite Action Revolutionaries (STAR), which focused on struggles of drag queens and trans and gender-non-conforming youth who often lived on the streets.

Stonewall Inn as it existed no longer stands, but the new Stonewall Inn in the same street and the park across it have been recently declared as a historic national monument.

The old Stonewall was not a luxurious bar in terms of drinks or furnishings. It was not a place frequented by upper or middle class, white, cisgender gay men. Being a dance bar whose patrons included working class or homeless LGBTQIA+ people and drag queens, it was often looked down upon. All of that changed in one week, and the spirit that shone in Stonewall that night continues to resonate and be celebrated in the hearts of all LGBTQIA+ people.

In light of the ongoing Black Lives Matter protests and the rioting that happened alongside, many LGBTQIA+ people on social media have responded to criticism by reminding people of Stonewall, and how the “first Pride” was a riot led by Black and Latin transgender women, gender non-conforming youth, and other LGBTQIA+ people of colour, the very people whose history and resistance has often been white-washed, diminished, or erased altogether.

As said by Martin Luther King Jr., “A riot is the language of the unheard.”

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