This archive report was first published on 18 July 2019.
Kenya's mobile lending market has experienced rapid growth, with numerous apps offering loans to consumers.
Standard Chartered Bank is now eyeing this lucrative market, seeking to tap into the demand for mobile loans.
The bank's move comes as the micro-lending platform becomes increasingly crowded, with several players already operating in the space, including unregulated credit apps like Tala and Branch, and commercial bank-backed mobile loan apps such as KCB-M-Pesa, M-Shwari, Equitel, M-Co-op Cash, Timiza, and Whizz.
The suspension of unsecured personal loans by commercial banks in 2016 may have contributed to the rise of mobile loans, creating an opportunity for unregulated lending apps to fill the gap.
Published on July 18, 2019.
