Borrowing from family and friends, long considered a financial safety net for many households, is on the decline amid a soft economy and growing preference for savings and credit cooperative societies (saccos) and government debt, such as the Hustler Fund.
Digital lender Tala’s latest annual survey on Kenyans’ borrowing habits, dubbed the Money March report, reveals a drop in borrowing within social circles, as loans from the government and cooperative societies gained traction.
