NAIROBI, Kenya, May 3 – Kenya’s banking sector is under increasing pressure to address hidden fees and unfair practices after the Competition Authority of Kenya (CAK) flagged a growing gap between customer satisfaction and trust.
CAK Director-General David Kemei said although 84.6 percent of customers rate their banks positively, the Net Promoter Score dropped to 42.6 from 44, indicating weakening loyalty.
“What do these numbers tell us? They clearly remind all of us that satisfaction alone is insufficient. Unhappy customers damage your reputation through negative word of mouth,” he said.
The regulator cited hidden charges, unclear loan disclosures, misleading “interest-free” offers and unauthorized loan rollovers as key issues affecting customer confidence.
CAK warned it will step up enforcement, noting that financial services accounted for the majority of consumer complaints, and cautioned banks against practices that undermine transparency and consumer protection.
