The Faustian Bargain of Digital Debt: How Kenya’s Lending Boom Exposes the Limits of “Regulate Later” Development
Across much of the developing world, digital credit has been hailed as a breakthrough in financial inclusion—offering fast, mobile-based loans to millions previously excluded from formal banking systems. But a growing body of evidence suggests that the model may be built on what some economists now describe as a “Faustian bargain”: rapid expansion first, regulation…


