NAIROBI, Kenya, Apr 29 — TransUnion Kenya has encouraged young people to regularly check their credit reports and strengthen their financial literacy as digital lending continues to grow in the country.
The credit reference bureau said tools like its Nipashe mobile app and SMS service (by texting one’s name to 21272) are available to help Kenyans monitor their credit information.
This advisory comes amid ongoing discussions about responsible lending and the need for transparency in Kenya’s expanding digital finance sector.
With youth making up over 75 percent of the population, financial literacy remains a growing concern.
TransUnion Kenya CEO Morris Maina said that financial health in the digital age requires more than just access to fast credit.
“Financial health in digital lending means more than just giving people fast access to credit. It’s about offering fair, transparent, and sustainable tools that support long-term financial well-being,” he said.
He noted that misconceptions remain about digital lending, with many viewing it as purely transactional.
Some digital lenders, he added, are starting to integrate financial guidance into their platforms to promote more responsible borrowing.
TransUnion said digital lending has opened credit access to underserved groups such as informal workers and youth without formal credit histories, and that non-traditional data sources like mobile money transactions now influence credit evaluations.
However, the firm cautioned against misuse of behavioral data, calling for transparency, user consent, and education on how credit decisions are made.
To improve financial standing, Maina advised young people to monitor their spending, set savings goals, and regularly review their credit reports.
He also emphasized borrowing within one’s means and using mobile money responsibly.
Maina said improving youth financial literacy would require coordinated efforts from fintech firms, lenders, regulators, and educators.
He proposed targeted programs covering savings, debt management, and basic investment knowledge to address financial exclusion among young people.
