KENYA ONLINE Kenyans top global uptake of mobile money-based app loans 1 month ago Szarlot Post Views: 62 Nearly four in 10 Kenyans used mobile money to get a loan, the highest number globally, a new report shows, highlighting the growing prevalence of app-based borrowing use in the country. The report from the international association for mobile network operators GSMA shows 36 percent of Kenyans acquired loans through their phones in 2021. This signals the popularity of mobile loans as well as growth of credit providers, including banks and alternative lenders expanding in the consumer loans sector. “There is generally higher uptake of loans in markets with higher prevalence of mobile money, particularly Kenya (36 percent). India (18 percent) and Pakistan (16 percent) are the exception — although both countries have low to medium mobile money prevalence, uptake of loans is still relatively high,” – the report read in part. The popular mobile lending platforms include M-Shwari, Tala, Fuliza, Branch, KCB M-Pesa and Zenka. Since the onset of Covid-19, the percentage of Kenyans who used mobile money more frequently to get loans was 32 percent, 39 percent on a less often basis while 28 percent had no change; their loan acquisition remained the same and was not affected by the pandemic. “In a separate study highlighting actual use of mobile-enabled credit, analysis of anonymised M-Pesa transactional data in Kenya revealed that around 50 percent of customer accounts were using financial services such as credit,” – the report read in part. Mobile money has over the years grown to be a lucrative revenue stream for telcos and credit providers as customers use them to send cash, pay for goods and services and take short-term credit. In Kenya, the total number of registered mobile money accounts stands at 67.94 million as at February 2022, official data from the Central Bank of Kenya shows. Transactions performed on mobile money providers include paying for commodities and services, taking out loans, opening savings accounts, making payments for government services, and betting, among others. SzarlotI am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. Facebook Twitter LinkedIn Email Print Tags: Kenya, loan, mobile money Continue Reading Previous The boom in online sportsbetting in AfricaNext MTN reduces P2P MoMo transaction charge by 25% in Ghana More Stories ONLINE SOUTH AFRICA Can You Play Hollywoodbets Casino on Mobile? 2 days ago Iwo Bulski ONLINE WORLD NEWS BI systems — how to automate business decision-making in iGaming 4 days ago Iwo Bulski ONLINE SOUTH AFRICA The Central African Republic Bets Big On Bitcoin 5 days ago Szarlot ONLINE WORLD NEWS Gambling in Asia — Slotegrator’s analysis of opportunities for 2022 1 week ago Samuel ONLINE WORLD NEWS Pragmatic Play seeks heavenly favour in Queen of Gods 1 week ago Iwo Bulski ONLINE Saudi investment in gaming 1 week ago Iwo Bulski NIGERIA ONLINE Towards robust cyber security for Nigeria 1 week ago Samuel ONLINE WORLD NEWS How to increase your online casino’s audience — a guide from Slotegrator 2 weeks ago Iwo Bulski ONLINE WORLD NEWS Playson Agreed to Power Inbet with Innovative Slots 2 weeks ago Szarlot ONLINE WORLD NEWS Slotegrator is going to IGB Live 2 weeks ago Iwo Bulski GAMES ONLINE Wazdan cranks up the temperature in Sizzling Eggs™ 2 weeks ago Iwo Bulski INTERVIEWS ONLINE New platform, new features — an interview with Slotegrator’s Yana Khaidukova 2 weeks ago Iwo Bulski Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.