According to the Central Bank of Kenya (CBK), commercial banks had 3.9 million mobile loan accounts as of April this year, with Kenyans borrowing about KSh50.6bn ($468.5m).
CBK Governor Patrick Njoroge said unregulated digital lenders disbursed loans estimated at KSh4bn within the period. “While unsupervised lending from the digital lenders accounted for less than one per cent of the banking
Understand Africa's tomorrow... today
Get full access to The Africa Report