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List of Popular Digital Lending Platforms in Kenya and Their Owners ▷ Kenya News – Tuko.co.ke

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In September, research by Reel Analytics revealed that 55 out of every 100 Kenyans surveyed had acquired loans from digital lending platforms.
The State of Digital Lending Report 2021 revealed a majority of the digital lending platform users are in urban areas (66%), while most subscribers were aged 30 to 34.
The survey noted most Kenyans prefer digital platforms because they are easily accessible and remit loans faster.
Read also
Kenyans Borrowed KSh 1.34b Daily on Fuliza between April and September, Report
The report showed 49 digital credit providers were operating in Kenya.
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Of this, Safaricom's M-Shwari accounted for 29% of the local market share, followed by KCB M-Pesa (12%), Equity Eazzy (4%), Tala (1.8%), and MCo-op Cash (1.3%), respectively.
According to the Kenya Private Sector Alliance, Kenya has improved its financial inclusion from 26.7% 15 years ago to 82.9%, attributed to the increased number of mobile phone users.
TUKO.co.ke lists the popular digital lending platforms in Kenya and their owners.
Giant telecommunications company Safaricom launched M-Shwari in partnership with Vodacom and NCBA Bank in November 2012.
The service allows one to access interest-bearing saving accounts and have the ability to take out small loans on mobile phones.
Safaricom's 2021 Annual Report showed the average value of M-Shwari loans in FY21 increased by 26.3% leading to a revenue increase of 15.5% to KSh 2.2 billion.
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This is a product of Equity Group Holdings that allows one to register without having to fill out forms or have guarantors.
Equity's latest financial statements revealed retail personal internet (Eazzy Net) transactions grew by 287% from 400,000 transactions to 1.5 million transactions with value transacted growing by 404% from KSh 16.6 billion to KSh 83.5 billion.
Eazzy App transactions grew by 82% while the volume transacted grew by 153%.
After a career in investment banking, Indian-American businesswoman Shivani Siroya founded Tala in 2011.
The app offers services to underrepresented markets in Kenya, Tanzania, India, and the Philippines.
In October, Forbes reported the platform raised $145 million (KSh 16.2 billion) Series E to expand account and crypto capabilities.
M-Coop Cash is a service offered by the Co-operative Bank to its customers.
It enables a user to access various banking services like making deposits or withdrawing money, applying and paying for a loan, sending money to another M-Coop cash account, and Coop Bank account or Sacco account.
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Kenyan Borrowers Defaulted KSh 441.8b Bank Loans in 8 Months to August, CBK
According to its website, Branch has disbursed over $600 million (KSh 67.08 billion) to over 4 million customers.
The platform was launched in December 2018 in Kenya.
In the 2019 Digital Tech Excellence Awards, it was named the most promising mobile loans platform.
Zenka is owned by Norwegian software maker Opera.
Kashway provides mobile loans through M-Pesa.
Its directors are Junjie Zhou (a Chinese national) and Elijah Ng'ang'a Ikahu (a Kenyan).
Okash is also owned by Norwegian software maker Opera.
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They acquired it from Opay in December 2018 at a cost of $9.5 million (KSh Sh1.03 billion) at the time), Daily Nation reported.
XGO Kenya Limited runs iPesa and its director is Junjie Zhou.
KopaKash Developer is reportedly the owner of the Zash Loan App.
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Source: Breaking News
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