Monday, June 22, 2020

What is the "Black Lives Matter" movement of USA

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Article Contributor(s)

Kanika Bajaj

Article Title

What is the "Black Lives Matter" movement of USA

Publisher

Global Views 360

Publication Date

June 22, 2020

URL

Black Lives Matter Protest

Black Lives Matter Protest | Source:Lenny DeFranza via Wikimedia

Over 55 years have passed since the signing of civil right laws which were supposed to be the panacea for all the ills of raciest abuses faced by the Black-Americans. A lot has increased since for the Black Americans but much more is still to do. They still live in the fear of law enforcement officials who monitor their movement on the street and also in their homes. The blacks are killed  at the lightest alleged provocation by city police without any fear of serious repercussion. The Federals law enforcement agencies also have a history of racist behavior and brutality towards black Americans.

“Black Lives Matter” movement was started in 2013, after a white person named George Zimmerman was acquitted in the shooting death of African-American teen Trayvon Martin in February 2012. The movement got its name as the hashtag #BlackLivesMatter was widely used on social media to protest the acquittal of George Zimmerman.  This movement aims to highlight the injustices, brutality, oppression, gratuitous killings, systemic racism, ruthlessness, bad form, and unaccountably that American culture, particularly law implementation, harbours toward black individuals. Dissenters have pointed out the uncalled intensity of the police, military weaponry, and impulsive usage of the same. The problem of policing in America is more than just individual bad police officers, the culture protects wrongdoers and rewards blind loyalty and is impervious to change. American citizens have recognized these loopholes and will not tolerate these wrongdoings anymore

On 25th May 2020, a 46-year-old black man named George Floyd, died at the hand of a police officer after allegedly using a counterfeit $20 bill at the convenience store. The killing was extensively covered by the cross section of media across the USA and American public saw the horror of the painful death of an unarmed black person by the police. A national-wide protest erupted as millions of people, including whites came out in the streets,  demanding justice for George Floyd. Slogans such as “I can’t breathe”, “All lives will not matter unless black lives don’t”, “Stop police brutality” were raised on the streets across the cities of America. The “Black Lives Movement” which was hitherto mostly confined to a section of blacks youths, quickly expanded to include a wide section of American citizens. 

In his death George Floyd became the symbol of police brutality against the black community in the USA and brought the “Black Lives Matter” from the fringe to the center of American social and political discourse.

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February 4, 2021 4:48 PM

Kenyans turning to mobile loans in times of COVID-19

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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