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Kenya’s National Assembly is investigating motorcycle and asset-finance lenders after boda boda riders alleged undisclosed charges, excessive interest, aggressive recovery and repayments far above a motorcycle’s value. The Finance and National Planning Committee said on 16 October 2026 that it had received 110 complaints and would hear implicated lenders on 5 November. The inquiry is continuing; no final finding or sanction has been announced.
Why are Kenyan MPs investigating motorcycle lenders?
The investigation follows a petition from the Kenya Boda Boda Riders and Owners Association. Parliament referred it to the Public Petitions Committee on 18 August 2026. Riders say some buy-now-pay-later and other asset-finance contracts leave them paying well beyond the motorcycle’s cash price, sometimes without obtaining ownership.
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The allegations cover more than the interest rate printed in a contract. Petitioners describe charges that were not clearly disclosed, recovery practices they consider aggressive, repossession after default and cases in which borrowers continued paying after the amount had exceeded the motorcycle’s value.
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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteCommittee chairperson Kimani Kuria said lawmakers had received “numerous other complaints where there is no disclosure of the loan amount, and some customers have paid even three or four times the loan amount.” That statement describes complaints before the committee, not a finding that every lender or contract breached the law.
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What the committee has scheduled
- Petition and referral: The riders’ association petition was referred on 18 August 2026.
- Complaint review: The Finance and National Planning Committee reported 110 complaints by 16 October.
- Lender testimony: Implicated lenders are scheduled to appear on 5 November 2026.
- Report and possible action: The committee says it will complete an inquiry and table a report. It may recommend legal or regulatory action if violations are established.
The searched reporting does not include the final petition, a complete committee transcript or a completed report. Lender responses, any sanctions and possible legislative changes therefore remain unresolved.
How much are riders alleged to be paying?
The figures below come from parliamentary accounts and press reports. They are allegations or attributed company statements, not an independent audit of every loan.
| Figure | What it represents | Status |
|---|---|---|
| 110 complaints | Cases reported to the Finance and National Planning Committee by 16 October 2026 | Committee account |
| Two to four times the original loan | Payments alleged in some cases before borrowers obtained ownership | Complaint-based allegation reported by the committee |
| Three times the motorcycle’s cost | Level alleged during Parliament’s 2024 examination of buy-now-pay-later financing | Historical allegation reported by The Star |
| 8.6% per month | Rate discussed by Watu Credit’s Eric Massawe; the company said it applied the rate to the financed amount using a reduced-balance model | Company statement reported in 2024; not independently verified |
| Fewer than 100 of 400,000 financed motorcycles reported lost | Watu Credit’s reported portfolio-loss figure in 2024 | Company statement reported by The Star; not independently verified |
A monthly rate cannot be compared fairly with another offer without checking whether it is charged on a declining balance, a flat financed amount, or alongside insurance, processing, tracking and recovery fees. The total amount payable and the ownership terms are the figures a borrower needs before signing.
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What regulation is Parliament examining?
The Star reported that the inquiry follows the Business Laws (Amendment) Act 2024, which brought previously unregulated non-deposit-taking credit providers under Central Bank of Kenya oversight. National Assembly Speaker Moses Wetangula directed lawmakers to establish whether the companies named in the complaints are licensed and regulated by the Central Bank.
Wetangula told lawmakers: “What you probably should check and inform the House is whether the alleged companies are licensed by the Central Bank of Kenya and, if they are, whether the Central Bank regulates them.” The committee’s licensing inquiry is significant because a lender’s regulatory status affects which supervisory and complaint channels may be available.
What is the in-duplum rule?
The Star describes the in-duplum principle as limiting recoverable interest on qualifying non-performing loans to the outstanding principal when the loan becomes non-performing. The precise statutory wording, the loans covered and how the rule applies to motorcycle asset-finance contracts should be confirmed against the Act and the facts of each account. It should not be assumed that every charge, contract or borrower automatically falls within that limit.
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Can a lender repossess a financed motorcycle?
Repossession is one of the practices alleged in the petition, but the committee had not ruled by 16 October 2026 on whether particular repossessions were lawful. A borrower should read the signed contract for default triggers, notice language, ownership or lease provisions and the process for recovering the motorcycle. Keep payment receipts, statements, messages, inspection records and any recovery-agent documents.
Whether a repossession was permitted can depend on the contract, applicable Kenyan law, the account’s payment history and the steps taken by the lender or its agent. The parliamentary inquiry is intended to test those practices rather than automatically cancel every repossession.
What if a motorcycle lender is not licensed?
Parliament is still checking which alleged firms are licensed and subject to Central Bank supervision. An unlicensed or improperly regulated provider could raise separate regulatory and consumer-protection issues, but the inquiry had not announced a blanket rule making every such contract void. Borrowers should obtain the company’s legal name, preserve the contract and payment trail, ask the Central Bank or an advocate which complaint route applies, and avoid relying on verbal promises about ownership or settlement.
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How to compare a motorcycle-finance offer
Before accepting an offer, compare the items that the complaints and parliamentary questions put at issue:
| Check | Question to answer in writing |
|---|---|
| Total cost | What is the cash price, amount financed, total repayment and final number of instalments? |
| Interest and fees | Is the rate flat or declining-balance, and are processing, insurance, tracking, late, legal or recovery charges included? |
| Ownership | Who owns the motorcycle during repayment, what event transfers title, and which documents prove transfer? |
| Default and recovery | What counts as default, what notice is promised, and how can a borrower challenge an account or recover personal property? |
| Licensing | Is the provider licensed or otherwise supervised by the Central Bank of Kenya under the current framework? |
| Insurance | Who chooses the insurer, who pays the premium and what happens after theft, accident or a total loss? |
| Remedies | Which complaint channel, tribunal or court can be used, and are contact details printed in the agreement? |
Ask for a complete repayment schedule before handing over a deposit. A low instalment can conceal a long term or a large final payment; only the total repayment compared with the motorcycle’s cash price shows the full burden.
What happened in Parliament in 2024?
Parliament examined the sector in May 2024 after allegations that some riders paid three times a motorcycle’s cost through buy-now-pay-later asset financing. Firms named in that hearing included Watu Credit Limited, Mogo Motorcycles Kenya, JoyInc Group, 15 Minutes and My Boda. Mogo Credit Limited and M-Kopa Credit were listed for a subsequent meeting.
During that hearing, Watu Credit’s Eric Massawe said the quoted 8.6% monthly interest was applied to the financed amount on a reduced-balance model. The company also said fewer than 100 motorcycles had been reported lost from a portfolio of 400,000 financed motorcycles. Those figures were company statements reported by The Star, not findings independently verified by Parliament.
What happens next?
Lenders are due to give evidence on 5 November 2026. The Finance and National Planning Committee then says it will complete its inquiry and table a report, with legal or regulatory recommendations possible if it establishes violations. Until that process is complete, the reported payment multiples, recovery practices and licensing status should be treated as allegations or questions under examination, not settled conclusions.
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