Director of the Consumer Affairs Commission, CAC, western region, Richard Rowe, is urging citizens to be cautious, when seeking loans from micro lending companies.

This, as he says many of the companies are not forthcoming with all the requirements and conditions for loans.

Speaking on the topic of ‘Responsibility in handling financial transactions’, Mr Rowe says some of these entities exploit borrowers, by charging exorbitant fees.

He is urging consumers to ensure that they are aware of all requirements and policies, before signing any contract with the loan provider.