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    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    UK’s Serious Fraud Office closes bribery investigations into British American Tobacco

    US Ambassador to Kenya Kyle McCarter has resigned

    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Injustice 5 years on, haunts Safaricom killer director

    Injustice 5 years on, haunts Safaricom killer director

    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

  • Markets
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    SIB banks’ foreign investment arm records mild drop in returns

    SIB banks’ foreign investment arm records mild drop in returns

  • Real Estate
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    National Bank and Octagon ink 100 billion service partnership

    National Bank and Octagon ink 100 billion service partnership

    Real Estate: Cytonn invites bids for this 4 acre piece of prime land in Kilimani

    Mizizi Africa Homes voted best low cost housing developer 2020

    Mizizi Africa Homes voted best low cost housing developer 2020

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    32% of Kenyans to change houses over Covid-19

    32% of Kenyans to change houses over Covid-19

    Kenyan Firm awarded Most Innovative Community Developer 

    Cytonn Real Estate completes The Alma Phase 3; 120 units set for handover

    Serviced Apartments Record Decline in Rental Yields

    Serviced Apartments Record Decline in Rental Yields

    Moad Capital, leading the homes of the future

    Moad Capital, leading the homes of the future

  • Tech
    LG unveils premium monitors

    LG unveils premium monitors

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    realme C12 and 7i now Available In Kenya

    2021: realme to release more smartphone in Kenya

    Samsung banking on technology personalisation to increase market share

    Samsung banking on technology personalisation to increase market share

    Cellulant CEO Ken Njoroge to step down in 2021

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Whatsapp to block users this February following new policy

    Whatsapp to block users this February following new policy

    Tough times ahead as taxis set to increase fares

    Tough times ahead as taxis set to increase fares

  • World Business

    Twitter CEO finally breaks silence about banning US President Donald Trump from the platform

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Trump threatens to slash US funding to World Health Organization

    A year later, WHO still insists on visiting China to probe virus origin

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Guinness forced to recall contaminated brand

    Guinness forced to recall contaminated brand

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    United States: Close Contest as Trump Declares himself Winner

    United States: Close Contest as Trump Declares himself Winner

    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

  • KBF
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    • Insurance
    • Manufacturing
    • Opinion
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    ‘Beware of fake currency’, CBK Warns

    Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    • Agribusiness
    • Banking
      ‘Beware of fake currency’, CBK Warns

      Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      SIB banks’ foreign investment arm records mild drop in returns

      SIB banks’ foreign investment arm records mild drop in returns

      DTB issues profit warning

      DTB issues profit warning

      How to join, get a loan from Metropolitan Sacco

      Stanbic Bank systems down over Christmas period

      Equity Restructures Ksh92 Billion Loans To cushion Customers Against COVID-19

      Equity Becomes first bank in Eastern and Central Africa to achieve trillion-shilling balance sheet

      Equity Group Appoints Christopher Newson as Non-Executive Director

      Equity Group Appoints Christopher Newson as Non-Executive Director

      How To Get Advance Salary Loan Via Co-operative Bank On Your Phone

      Co-operative Bank Launches Global Money Transfer Service

    • Insurance
      ICEA Lion Life appoints a new CEO

      ICEA Lion Life appoints a new CEO

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Octagon feted in 2020 World Pension Summit Innovation Awards

      Octagon feted in 2020 World Pension Summit Innovation Awards

      What do you need to know before purchasing car insurance?

      What do you need to know before purchasing car insurance?

      National Bank of Kenya Bags Global Recognition

      National Bank of Kenya Bags Global Recognition

      DIB Awarded Best Islamic Bank in Kenya

      DIB Awarded Best Islamic Bank in Kenya

      Insurance: IRA Foils Over Ksh300 Million Fraudulent Claims

      20 out of 56 licensed insurers in Kenya fail capital test

      Tom Gitogo offloads his shares in CIC Insurance

      Tom Gitogo offloads his shares in CIC Insurance

      KCB appoints new Director of Marketing and Communications

      KCB appoints new Director of Marketing and Communications

    • Manufacturing
    • Opinion
      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      Why Digital Services Tax is a retrogressive policy

      Why Digital Services Tax is a retrogressive policy

      How Citizen TV Became The Most Watched in Kenya

      How Citizen TV Became The Most Watched in Kenya

      This is the new Safaricom logo

      Fail or win? Mixed Reactions over Safaricom’s new logo

      After fuliza, Safaricom introduces another way to borrow money

      OPINION: Why Safaricom’s Fuliza is a rip off!

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      Crisis as young Kenyans now embrace Crime as lifestyle

      Crisis as young Kenyans now embrace Crime as lifestyle

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

Kenyan Business Feed
  • Home
  • News
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    UK’s Serious Fraud Office closes bribery investigations into British American Tobacco

    US Ambassador to Kenya Kyle McCarter has resigned

    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Injustice 5 years on, haunts Safaricom killer director

    Injustice 5 years on, haunts Safaricom killer director

    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

  • Markets
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    SIB banks’ foreign investment arm records mild drop in returns

    SIB banks’ foreign investment arm records mild drop in returns

  • Real Estate
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    National Bank and Octagon ink 100 billion service partnership

    National Bank and Octagon ink 100 billion service partnership

    Real Estate: Cytonn invites bids for this 4 acre piece of prime land in Kilimani

    Mizizi Africa Homes voted best low cost housing developer 2020

    Mizizi Africa Homes voted best low cost housing developer 2020

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    32% of Kenyans to change houses over Covid-19

    32% of Kenyans to change houses over Covid-19

    Kenyan Firm awarded Most Innovative Community Developer 

    Cytonn Real Estate completes The Alma Phase 3; 120 units set for handover

    Serviced Apartments Record Decline in Rental Yields

    Serviced Apartments Record Decline in Rental Yields

    Moad Capital, leading the homes of the future

    Moad Capital, leading the homes of the future

  • Tech
    LG unveils premium monitors

    LG unveils premium monitors

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    realme C12 and 7i now Available In Kenya

    2021: realme to release more smartphone in Kenya

    Samsung banking on technology personalisation to increase market share

    Samsung banking on technology personalisation to increase market share

    Cellulant CEO Ken Njoroge to step down in 2021

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Whatsapp to block users this February following new policy

    Whatsapp to block users this February following new policy

    Tough times ahead as taxis set to increase fares

    Tough times ahead as taxis set to increase fares

  • World Business

    Twitter CEO finally breaks silence about banning US President Donald Trump from the platform

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Trump threatens to slash US funding to World Health Organization

    A year later, WHO still insists on visiting China to probe virus origin

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Guinness forced to recall contaminated brand

    Guinness forced to recall contaminated brand

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    United States: Close Contest as Trump Declares himself Winner

    United States: Close Contest as Trump Declares himself Winner

    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    ‘Beware of fake currency’, CBK Warns

    Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    • Agribusiness
    • Banking
      ‘Beware of fake currency’, CBK Warns

      Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      SIB banks’ foreign investment arm records mild drop in returns

      SIB banks’ foreign investment arm records mild drop in returns

      DTB issues profit warning

      DTB issues profit warning

      How to join, get a loan from Metropolitan Sacco

      Stanbic Bank systems down over Christmas period

      Equity Restructures Ksh92 Billion Loans To cushion Customers Against COVID-19

      Equity Becomes first bank in Eastern and Central Africa to achieve trillion-shilling balance sheet

      Equity Group Appoints Christopher Newson as Non-Executive Director

      Equity Group Appoints Christopher Newson as Non-Executive Director

      How To Get Advance Salary Loan Via Co-operative Bank On Your Phone

      Co-operative Bank Launches Global Money Transfer Service

    • Insurance
      ICEA Lion Life appoints a new CEO

      ICEA Lion Life appoints a new CEO

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Octagon feted in 2020 World Pension Summit Innovation Awards

      Octagon feted in 2020 World Pension Summit Innovation Awards

      What do you need to know before purchasing car insurance?

      What do you need to know before purchasing car insurance?

      National Bank of Kenya Bags Global Recognition

      National Bank of Kenya Bags Global Recognition

      DIB Awarded Best Islamic Bank in Kenya

      DIB Awarded Best Islamic Bank in Kenya

      Insurance: IRA Foils Over Ksh300 Million Fraudulent Claims

      20 out of 56 licensed insurers in Kenya fail capital test

      Tom Gitogo offloads his shares in CIC Insurance

      Tom Gitogo offloads his shares in CIC Insurance

      KCB appoints new Director of Marketing and Communications

      KCB appoints new Director of Marketing and Communications

    • Manufacturing
    • Opinion
      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      Why Digital Services Tax is a retrogressive policy

      Why Digital Services Tax is a retrogressive policy

      How Citizen TV Became The Most Watched in Kenya

      How Citizen TV Became The Most Watched in Kenya

      This is the new Safaricom logo

      Fail or win? Mixed Reactions over Safaricom’s new logo

      After fuliza, Safaricom introduces another way to borrow money

      OPINION: Why Safaricom’s Fuliza is a rip off!

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      Crisis as young Kenyans now embrace Crime as lifestyle

      Crisis as young Kenyans now embrace Crime as lifestyle

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

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Kenyan Business Feed
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Home Markets

Unstoppable: 17 Million Digital Loans Disbursed Since The Start Of Mobile Lending In Kenya – A Survey Shows

by Kenyan Business Feed
October 28, 2019
in Markets, News, Tech
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Nearly 17 million digital loans have been disbursed as Kenyans increasing turn to their mobile phone to access credit.

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.

“Across Kenya, 16.4 million loans have been disbursed digitally since the launch of the first digital credit offering seven years ago. In the past two years alone, the number of digital loans issued has approximately doubled,” the firm said in its report.

Between 2016 and 2018, the study found, 86 per cent of the loans that Kenyans took were digital in nature, reflecting the increasing popularity and penetration of digital lending.

Microsave Consulting was contracted for the work by, among others, Smart Campaign, a social movement seeking to promote responsible borrowing and consumer protection.

Digital credit is instant, automated and remote, providing borrowers with quick access to short-term loans.

Young men below the age of 35 are the ideal digital borrower, according to the study, a fact that could be linked to sports betting which is predominantly a male pastime.

It was not surprising for the researchers that two in three borrowers had taken multiple loans, indicating the possibility of taking one loan to settle another.

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“This could reflect the low loan limits that fail to fulfil needs and the short tenures that increase pressure on repayment and require a new loan to repay the previous one,” the study found.

Among the other findings – which have also been reported by other surveys – is the soaring number of defaults on digital loans.

Half of the defaulters reported are among the poorest, each with outstanding loans of less than Sh1,000 and already blacklisted with the various credit reference bureaus.

Information gathered from the 50 digital lenders revealed that commercial banks – working with mobile service providers such as Safaricom – have a stronghold of the market.


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]

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