DAR ES SALAAM, Jan. 29 -- THE National Assembly that has convened and ongoing deserves credit for once again putting the spotlight on one of the most quietly destructive forces in the economy: predatory lending. While loans are meant to support enterprise, resilience, and opportunity, far too many have instead become instruments of exploitation, especially for the poor, the youth, and small entrepreneurs struggling to stay afloat.

Recent parliamentary discussions on high-interest, unregulated loans signal that lawmakers understand the urgency of the problem.

This is commendable. At a time when the government is rightly focused on lifting citizens, particularly young people and women out of poverty, it would be self-defeating to allow ru...