(Munene Kamau, Standard)One morning in 2009, Cyprian Kariuki from Kerugoya town in Kirinyaga County desperately needed Sh80,000. Due to the urgent, pressing need for the money, Kariuki approached a money lender who told him to give out the title deed for his land as security. Kariuki’s tribulations aptly describe the situation many rural families in Central Kenya have gone through when they borrow money from shylocks. The shylocks lend money at high interest rates of between 10 and 50 per cent. She approached a shylock and asked for a loan and the lender asked Karwitha to surrender her title deed as collateral.

Source: Standard Digital July 27, 2018 21:00 UTC