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Kenyan youths have been accused in online reports of exploiting weaknesses in mobile lending platforms in Zambia to access loans worth millions of kwacha.
This has raised fresh concerns about verification gaps in parts of Zambia’s rapidly expanding digital credit sector.
According to circulating claims cited by regional media, some users are allegedly taking advantage of weak identity verification systems within certain mobile loan applications to register multiple accounts and access repeated borrowing beyond normal limits.
Claims Largely Shared On Social Media
The allegations suggest gaps in Know Your Customer (KYC) procedures may be enabling borrowers to scale their credit limits quickly after completing initial repayments.
The claims, largely shared through social media posts and referenced in reports, further indicate that some affected lending platforms may not be fully integrated with national credit reference systems or licensed under strict regulatory oversight frameworks.
Analysts say such weaknesses can expose lenders to financial losses and increase the risk of misuse of digital credit services if safeguards are not strengthened.
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Civil Society Zambia
Separately, civil society organisations in Zambia have previously raised concerns about the presence of unlicensed online lenders operating outside the supervision of the country’s financial regulator.
The groups warned that some digital loan applications targeting users were not authorised to provide lending services, highlighting broader regulatory vulnerabilities in the sector.
The allegations come at a time when mobile lending continues to expand rapidly across Africa, driven by widespread mobile phone access and increasing adoption of mobile money platforms.
Loans
According to a State of the Industry report by the GSMA, Sub-Saharan Africa accounted for nearly two-thirds of global mobile money growth in 2025, reflecting the sector’s growing role in financial access across the region.
In Kenya, reports show that about 32% of adults borrowed loans through mobile money providers, with a significant share relying exclusively on digital platforms rather than banks or other formal financial institutions.
However, the same expansion has also been accompanied by rising concerns about fraud and identity-related risks in digital financial services globally.
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Fraud Activities
Industry data shows identity fraud, impersonation, and swap schemes remain among the most common threats affecting mobile money users and providers.
While the claims involving Kenyan youths exploiting lending platforms in Zambia have not been independently confirmed by regulators in either country.
The claims have renewed calls for stronger verification systems and tighter oversight of cross-border digital lending platforms as mobile-based credit continues to grow across the region.
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A computer pop-up box screen warning of a system being hacked. PHOTO/Courtesy.
