Tag: Mobile Loans

Over 16.4 million micro digital loans disbursed since the first digital credit offering in Kenya

Over 16.4 million micro digital loans disbursed since the first digital credit offering in Kenya

Business, Mobile, Startups, Technology
About 17 million digital loans have been disbursed to Kenyans as an increasing preference to mobile phone to access credit since the launch of the first digital credit offering seven years ago. A new survey completed last month shows fast growth of borrowing through the phone, with other findings showing huge default rates but for relatively small amounts. An international firm, Microsave Consulting, conducted the study which involved interviews with various credit providers with fin-tech products, including banks. During the first half of 2019, MSC was commissioned by SPTF and the Smart Campaign to undertake a comprehensive study on the current state of digital credit in Kenya. This study revealed:  Across Kenya, 16.4 million loans have been disbursed digitally since the lau