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KCB M-Pesa loans hit Sh10.3bn since launch

From left: Safaricom CEO Bob Collymore, CBA chief executive Jeremy Ngunze and KCB Bank Group chief executive Joshua Oigara during the launch of the KCB-M-Pesa account at Sankara Hotel in Nairobi March 10, 2015. PHOTO | SALATON NJAU |

Mobile-based bank account KCB M-Pesa has disbursed a total of Sh10.3 billion in loans to its customers since March last year, indicating a growing appetite for short-term loans.

The platform has been advancing between Sh25 million and Sh30 million in loans daily over the past 17 months of operation.

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