Digital Loans
Digital Loans
Finance
General
Embracing Intersacco Lending: The Future of Digital Sacco Lending
Embracing intersacco lending is the way to go for digital SACCOs to remain competitive and stay ahead in the ever-evolving financial industry. Intersacco lending refers to the practice of SACCOs lending to each other, either directly or through a central fund, to meet their members’ credit needs. In most instances, the lending is often at […]
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Digital Loans
Finance
Upcoming Regulation of Digital Lending
In recent times, the Central Bank of Kenya Governor Patrick Njoroge has noted that there are risks to Kenyans who use their mobile phones to take loans thus a need for regulation in the booming digital credit sector. Whilst many of these small digital credit loans are extremely valuable for people facing emergencies, managing cash […]
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Digital Loans
Finance
Shylocks have gone hi-tech in Kenya
Shylocks have gone hi-tech in Kenya. Mobile phone money lenders have grown like mushrooms in Kenya. Numerous mobile lenders have continued to thrive in the local market, offering loans at exorbitant interest rates and ruthlessly going after individuals who default by engaging their family members with data mined through the applications. The lack of adequate […]
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Digital Loans
How to get a digital loan
Are you in a fix and need quick cash? A digital loan is the way to go. As a matter of fact, getting a traditional loan from a bank or a Sacco takes time and if you need money now, it may not be the best option for you. With today’s technology you can get […]
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Digital Loans
Finance
A comparative look at digital lenders
Buying electricity on credit through Okoa Stima is the most expensive mobile lending in Kenya. The mobile-based electricity loan, known as Okoa Stima, attracts a monthly interest of 43.4 percent, making it the most expensive, while Equity Bank’s Equitel is the least costly at 2.1 percent per month. Other costly digital lenders are Pesa na […]
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